Subsequent Events |
6 Months Ended |
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Mar. 31, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
In April 2018, the Company received initial insurance proceeds of approximately $460,000 of insurance proceeds relating to Hurricane Irma property and casualty damage claims and $262,000 relating to crop claims. The Company submitted additional property and casualty and crop insurance claims and is awaiting determination of additional proceeds to be received.
On April 16, 2018, all operating partners of Citree received a funding notice relating to an additional Cash Capital Contributions (“Contribution”) requirement of approximately $2,041,000 as a result of Hurricane Irma reducing the amount of crop available for sale in the 2017-2018 harvest season and the Company adopting a more extensive caretaking plan focused on limiting the impact of citrus greening. The Company’s portion of the Contribution is approximately $1,041,000 and was funded on April 27, 2018.
On May 2, 2018, the Company sold its Gal Hog property for approximately $7,300,000.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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