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12. Segment Information

9 Months Ended

May 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 as at and for the nine month periods ended May 31, 2018 and 2017:

	2018		2017
Sales to unaffiliated customers:
Industrial wood products	$    2,510,763		$    2,857,334
Lawn, garden, pet and other	37,514,801		29,692,781
Seed processing and sales	1,911,588		2,834,311
Industrial tools and clamps	752,865		1,254,897
	$  42,690,017		$  36,639,323
Income (loss) before income taxes:
Industrial wood products	$        (30,241)		$        (58,597)
Lawn, garden, pet and other	2,556,910		2,494,172
Seed processing and sales	84,474		126,507
Industrial tools and clamps	(9,833)		86,581
Corporate and administrative	687,698		721,141
	$    3,289,008		$    3,369,804
Identifiable assets:
Industrial wood products	$       684,944		$     1,066,183
Lawn, garden, pet and other	13,977,679		11,987,315
Seed processing and sales	376,440		528,954
Industrial tools and clamps	460,438		494,625
Corporate and administrative	9,552,222		8,400,927
	$  25,051,723		$  22,478,004
Depreciation and amortization:
Industrial wood products	$             193		$              248
Lawn, garden, pet and other	58,108		38,626
Seed processing and sales	5,751		9,857
Industrial tools and clamps	848		986
Corporate and administrative	202,070		172,983
	$      266,970		$       222,700
Capital expenditures:
Industrial wood products	$                 -		$                   -
Lawn, garden, pet and other	-		-
Seed processing and sales	18,547		12,495
Industrial tools and clamps	-		-
Corporate and administrative	80,890		355,870
	$        99,437		$       368,365
Interest expense:	-		-

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the nine months ended May 31, 2018 and 2017:

	2018		2017
Sales	$      23,678,847		$      18,011,073

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 nine months ended May 31, 2018 and 2017:

	2018			2017
United States	$	41,148,757		$	34,483,170
Canada		1,139,399			1,425,525
Mexico / Latin America		192,539			636,954
Middle East		12,209			-
Europe		27,095			16,330
Asia/Pacific		170,018			77,344

All of the Company’s significant identifiable assets were located in the United States as of May 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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