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12. Segment Information

12 Months Ended

Aug. 31, 2018

Notes

12. Segment Information

12.           SEGMENT INFORMATION

                The Company has four principal reportable segments. These reportable segments were determined based on the nature of the products offered.  Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. 

                The Company evaluates performance based on several factors, of which the primary financial measure is business segment income before taxes.  The following tables show the operations of the Company's reportable segments.

Following is a summary of segmented information for the years ended August 31:

	2018			2017
Sales to unaffiliated customers:
Industrial wood products	$	3,500,759		$	3,804,672
Lawn, garden, pet and other		47,197,251			39,273,206
Seed processing and sales		2,282,281			3,108,454
Industrial tools and clamps		942,861			1,514,724
	$	53,923,152		$	47,701,056
Income (loss) before income taxes:
Industrial wood products	$	494		$	(175,504)
Lawn, garden, pet and other		3,652,467			3,548,177
Seed processing and sales		(58,438)			(23,809)
Industrial tools and clamps		(72,417)			85,501
Corporate and administrative		757,317			1,030,886
	$	4,279,423		$	4,465,251
Identifiable assets:
Industrial wood products	$	833,694		$	1,153,802
Lawn, garden, pet and other		12,318,686			10,706,686
Seed processing and sales		438,057			296,579
Industrial tools and clamps		440,386			535,093
Corporate and administrative		9,596,740			9,488,875
	$	23,627,563		$	22,181,035
Depreciation and amortization:
Industrial wood products	$	193		$	330
Lawn, garden, pet and other		22,534			26,920
Seed processing and sales		7,727			12,978
Industrial tools and clamps		970			1,314
Corporate and administrative		242,641			233,672
	$	274,065		$	275,214
Capital expenditures:
Industrial wood products	$	-		$	-
Lawn, garden, pet and other		-			-
Seed processing and sales		29,638			12,495
Industrial tools and clamps		-			-
Corporate and administrative		80,890			461,864
	$	110,528		$	474,359
Interest expense:	$	-		$	-

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the years ended August 31:

	2018			2017
Sales	$	28,392,593	$	23,442,308

The Company conducts business primarily in the United States, but also has limited amounts of sales in foreign countries. The following table lists sales by country for the fiscal years ended August 31:

	2018		2017
United States	$	52,050,260	$	44,740,560
Canada		1,429,265		1,727,758
Mexico / Latin America		192,539		843,667
Europe		42,224		68,752
Asia/Pacific		196,655		320,319
Middle East		12,209		-
	$	53,923,152	$	47,701,056

All of the Company’s significant identifiable assets were located in the United States as of August 31, 2018 and 2017.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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