ACCRUED LIABILITIES

12 Months Ended

Aug. 31, 2014

Accrued Liabilities

ACCRUED LIABILITIES

At August 31, 2014, the Company had accrued liabilities of $257,900, of which $99,700 was for estimated property taxes, $59,500 was for professional fees, $22,400 for prepaid farm lease payments and the remaining $76,300 was related to operating payables.

At August 31, 2013, the Company had accrued liabilities of $264,700, of which $156,200 was for estimated property taxes, $56,700 was for professional fees, $30,300 for prepaid farm lease payments and the remaining $21,600 was related to operating payables.