PURE CYCLE CORP
For the period ended Aug 31, 2024. Filed Nov 13, 2024.
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FY2024 · Filed Nov 13, 2024
PCYO$11.07+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| (In thousands, except shares) · · August 31, 2024 · August 31, 2023 | ||||||
| ASSETS: | | | (unaudited) | | | |
| Current assets: · · · · | ||||||
| Cash and cash equivalents | | $22,113 | | $26,012 | ||
| Trade accounts receivable, net | | 1,472 | | 1,092 | ||
| Land under development | | | 3,647 | | | 1,726 |
| Reimbursable public improvements and project management fees | | | 10,100 | | | — |
| Income taxes receivable | | | — | | | 551 |
| Prepaid expenses and other assets | | 530 | | 346 | ||
| Total current assets | | 37,862 | | 29,727 | ||
| Restricted cash | | | 3,245 | | | 2,475 |
| Investments in water and water systems, net | | 60,486 | | 57,798 | ||
| Construction in progress | | | 3,161 | | | 5,457 |
| Single-family rental units | | | 5,059 | | | 4,490 |
| Land and mineral rights: | | | | | | |
| Held for development | | | 3,683 | | 4,652 | |
| Held for investment purposes | | | 451 | | 451 | |
| Other assets | | 1,164 | | 1,359 | ||
| Notes receivable – related parties, including accrued interest | | | | | ||
| Reimbursable public improvements and project management fees | | | 30,864 | | | 24,999 |
| Other | | | 1,221 | | | 1,451 |
| Operating leases - right of use assets | | 158 | | 357 | ||
| Total assets | | $147,354 | | $133,216 | ||
| | | | | | | |
| LIABILITIES: | | | | | | |
| Current liabilities: | | | | | | |
| Accounts payable | | $1,948 | | $1,960 | ||
| Accrued liabilities | | | 1,514 | | | 1,761 |
| Accrued liabilities – related parties | | 2,208 | | 1,021 | ||
| Income taxes payable | | | 1,442 | | | — |
| Deferred lot sales revenue | | 2,173 | | 1,661 | ||
| Deferred water sales revenue | | - | | 69 | ||
| Debt, current portion | | | 64 | | | 31 |
| Total current liabilities | | 9,349 | | 6,503 | ||
| Debt, less current portion | | | 6,821 | | 6,885 | |
| Deferred tax liability, net | | 1,395 | | 1,352 | ||
| Lease obligations - operating leases, less current portion | | 87 | | 242 | ||
| Total liabilities | | 17,652 | | 14,982 | ||
| Commitments and contingencies | | | | | | |
| SHAREHOLDERS’ EQUITY: | | | | | | |
| Series B preferred shares: par value $0.001 per share, 25 million authorized; 432,513 issued and outstanding (liquidation preference of $432,513) | | — | | — | ||
| Common shares: par value 1/3 of $.01 per share, 40.0 million authorized; 24,063,894 and 24,078,720 outstanding, respectively | | 80 | | 80 | ||
| Additional paid-in capital | | 175,125 | | 174,689 | ||
| Accumulated deficit | | (45,503) | | (56,535) | ||
| Total shareholders’ equity | | 129,702 | | 118,234 | ||
| Total liabilities and shareholders’ equity | | $147,354 | | $133,216 | ||
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