| Changes in Contract Asset and Deferred Revenue |
The Company evaluated disaggregation of revenue and has determined that no additional disaggregation of revenue is necessary.
Contract asset by segment is as follows:
| | | May 31, 2019 | | | August 31, 2018 | | Wholesale water and wastewater services | | $ | — | | | $ | — | | Land development activities | | | — | | | | — | | Corporate | | | — | | | | — | | Balance, end of period | | $ | — | | | $ | — | |
Changes in contract asset were as follows:
| | | May 31, 2019 | | | August 31, 2018 | | Balance, beginning of period | | $ | — | | | $ | — | | Recognition of revenue contract asset | | | 1,020,146 | | | | — | | Contract asset invoiced | | | (1,020,146 | ) | | | — | | Balance, end of period | | $ | — | | | $ | — | |
Deferred revenue by segment is as follows:
| | | May 31, 2019 | | | August 31, 2018 | | Land development activities | | $ | 1,631,797 | | | $ | 361,050 | | Oil and gas contracts | | | 140,522 | | | | — | | Oil and gas leases | | | 74,311 | | | | 116,111 | | Balance, end of period | | | 1,846,630 | | | | 477,161 | | Oil and gas leases and contracts, less current portion | | | (196,255 | ) | | | (55,733 | ) | Oil and gas leases, long term | | | 18,578 | | | | 60,378 | | Total oil and gas leases | | $ | 74,311 | | | $ | 116,111 | |
Changes in deferred revenue were as follows:
| | | May 31, 2019 | | | August 31, 2018 | | Balance, beginning of period | | $ | 477,161 | | | $ | 1,055,488 | | Cumulative effect of adoption of ASU 2014-09 | | | — | | | | (1,055,488 | ) | Deferral of revenue | | | 6,652,560 | | | | 2,667,200 | | Recognition of unearned revenue | | | (5,283,091 | ) | | | (2,190,039 | ) | Balance, end of period | | $ | 1,846,630 | | | $ | 477,161 | |
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