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14. Segment Information
 3 Months Ended
Nov. 30, 2020
Notes  
14. Segment Information

14.SEGMENT INFORMATION  

 

The Company has four principal reportable segments. Three segments are continuing operations and one, Industrial Tools and Clamps, is considered as a discontinued operation. 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, 2020 and 2019.

 

 

2020

 

2019

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

Industrial wood products

$

724,752

 

$

784,868

Lawn, garden, pet and other

 

8,929,636

 

 

5,577,494

Seed processing and sales

 

661,896

 

 

524,595

Industrial tools and clamps

 

-

 

 

168,221

 

$

10,316,284

 

$

7,055,178

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

Industrial wood products

$

(15,224)

 

$

(15,618)

Lawn, garden, pet and other

 

520,208

 

 

(77,696)

Seed processing and sales

 

49,490

 

 

49,703

Industrial tools and clamps

 

-

 

 

(107,217)

Corporate and administrative

 

72,309

 

 

151,569

 

$

626,783

 

$

741

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

Industrial wood products

$

701,391

 

$

975,468

Lawn, garden, pet and other

 

12,969,525

 

 

7,988,756

Seed processing and sales

 

759,267

 

 

518,204

Industrial tools and clamps

 

-

 

 

119,228

Corporate and administrative

 

8,963,533

 

 

12,294,569

 

$

23,393,716

 

$

21,896,225

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

Industrial wood products

$

-

 

$

-

Lawn, garden, pet and other

 

9,294

 

 

6,365

Seed processing and sales

 

1,587

 

 

1,587

Industrial tools and clamps

 

-

 

 

122

Corporate and administrative

 

39,648

 

 

40,074

 

$

50,529

 

$

48,148

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

Industrial wood products

$

-

 

$

-

Lawn, garden, pet and other

 

-

 

 

-

Seed processing and sales

 

-

 

 

-

Industrial tools and clamps

 

-

 

 

-

Corporate and administrative

 

184,247

 

 

28,750

 

$

184,247

 

$

28,750

 

 

 

 

 

 

Interest expense:

$

-

 

$

-

 

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, 2020 and 2019:

 

 

2020

 

2019

 

 

 

 

 

 

Sales

$

4,898,298   

 

$

2,259,429

 

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, 2020 and 2019:

 

 

2020

 

2019

 

 

 

 

 

 

United States

$

10,091,527

 

$

6,816,250

Canada

 

202,611

 

 

150,486

Europe

 

11,058

 

 

1,818

Mexico/Latin America

 

4,633

 

 

61,109

Asia/Pacific

 

6,455

 

 

25,515

 

All of the Company’s significant identifiable assets were located in the United States as of November 30, 2020 and 2019.