Our general and administrative expenses ("G&A expenses") increased approximately 18% mainly due to increased consulting and professional service fees related to ongoing discussions with the State Land Board and the City of Aurora and due to fees and expenses that were not capitalized as part of our acquisition of the Sky Ranch property (see below).During the three months ended November 30, 2010, we began expensing interest on a $5.2 million convertible note that we issued in September 2010, which was part of the financing of the Sky Ranch land and water acquisition.
Pure Cycle Corporation Announces First Quarter Fiscal 2011 Financial Results
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