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12. Segment Information

6 Months Ended

Feb. 28, 2019

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 six month periods ended February 28, 2019 and 2018:

		2019			2018
	Sales to unaffiliated customers:
	Industrial wood products	$	1,962,817		$	1,515,375
	Lawn, garden, pet and other		13,452,656			19,323,517
	Seed processing and sales		1,089,480			1,393,443
	Industrial tools and clamps		418,322			522,973
		$	16,923,275		$	22,755,308
	Income (loss) before income taxes:
	Industrial wood products	$	26,487		$	(47,183)
	Lawn, garden, pet and other		14,092			849,782
	Seed processing and sales		(60,794)			90,495
	Industrial tools and clamps		(19,361)			(3,778)
	Corporate and administrative		707,910			382,691
		$	668,334		$	1,272,007
	Identifiable assets:
	Industrial wood products	$	985,205		$	878,842
	Lawn, garden, pet and other		13,677,090			13,969,856
	Seed processing and sales		60,350			415,032
	Industrial tools and clamps		433,501			498,865
	Corporate and administrative		7,122,600			6,878,023
		$	22,278,746		$	22,640,618
	Capital expenditures:
	Industrial wood products	$	-		$	-
	Lawn, garden, pet and other		-			-
	Seed processing and sales		-			-
	Industrial tools and clamps		-			-
	Corporate and administrative		-			66,041
		$	-		$	66,041
	Interest expense:	$	-		$	-

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the six months ended February 28, 2019 and 2018:

		2019			2018
	Sales	$	8,054,610		$	14,152,519

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 six months ended February 28, 2019 and 2018:

		2019			2018
	United States	$	16,168,654		$	21,679,684
	Canada		621,444			759,136
	Mexico/Latin America/Caribbean		104,370			159,436
	Europe		27,026			38,993
	Asia/Pacific		1,781			118,059

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2019 and 2018.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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