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12. Segment Information

3 Months Ended

Nov. 30, 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 three month periods ended November 30, 2018 and 2017:

	2018			2017
Sales to unaffiliated customers:
Industrial wood products	$	1,111,687		$	662,454
Lawn, garden, pet and other		6,993,428			7,984,745
Seed processing and sales		756,910			468,575
Industrial tools and clamps		204,075			298,196
	$	9,066,100		$	9,413,970
Income (loss) before income taxes:
Industrial wood products	$	33,596		$	(42,760)
Lawn, garden, pet and other		173,821			300,872
Seed processing and sales		10,433			63,462
Industrial tools and clamps		(3,737)			10,621
Corporate and administrative		282,047			213,245
	$	496,160		$	545,440
Identifiable assets:
Industrial wood products	$	933,045		$	861,542
Lawn, garden, pet and other		13,348,769			11,569,466
Seed processing and sales		367,985			351,176
Industrial tools and clamps		383,565			525,356
Corporate and administrative		8,618,705			9,049,072
	$	23,652,069		$	22,356,612
Depreciation and amortization:
Industrial wood products	$	-		$	83
Lawn, garden, pet and other		8,009			8,560
Seed processing and sales		2,068			2,450
Industrial tools and clamps		122			328
Corporate and administrative		40,671			61,244
	$	50,870		$	72,665
Capital expenditures:
Industrial wood products	$	-		$	-
Lawn, garden, pet and other		-			-
Seed processing and sales		-			-
Industrial tools and clamps		-			-
Corporate and administrative		-			61,899
	$	-		$	61,899
Interest expense:	$	0		$	0

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the three months ended November 30, 2018 and 2017:

	2018			2017
Sales	$	3,758,542		$	5,773,104

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 three months ended November 30, 2018 and 2017:

	2018			2017
United States	$	8,664,491		$	8,899,759
Canada		311,148			364,173
Europe		22,474			5,073
Mexico/Latin America		66,206			79,958
Middle East		-			12,209
Asia/Pacific		1,781			52,798

All of the Company’s significant identifiable assets were located in the United States as of November 30, 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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