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14. Segment Information
 9 Months Ended
May 31, 2021
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.

 

14.SEGMENT INFORMATION (cont’d…) 

 

The following is a summary of segmented information for the nine month periods ended May 31, 2021 and 2020.

 

 

 

2021

 

2020

 

 

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

 

Industrial wood products

$

1,883,064

 

$

1,955,669

 

Lawn, garden, pet and other

 

37,843,378

 

 

27,493,875

 

Seed processing and sales

 

2,670,149

 

 

1,230,765

 

Industrial tools and clamps

 

-

 

 

238,036

 

 

$

42,396,591

 

$

30,918,345

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

 

Industrial wood products

$

(46,258)

 

$

(69,619)

 

Lawn, garden, pet and other

 

3,592,546

 

 

1,626,378

 

Seed processing and sales

 

94,339

 

 

(60,458)

 

Industrial tools and clamps

 

-

 

 

(238,195)

 

Corporate and administrative

 

245,108

 

 

505,597

 

 

$

3,885,735

 

$

1,763,703

 

Identifiable assets:

 

 

 

 

 

 

Industrial wood products

$

701,021

 

$

780,726

 

Lawn, garden, pet and other

 

19,205,736

 

 

13,346,110

 

Seed processing and sales

 

793,392

 

 

547,496

 

Industrial tools and clamps

 

-

 

 

741

 

Corporate and administrative

 

6,681,766

 

 

7,057,217

 

 

$

27,381,915

 

$

21,732,290

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

Industrial wood products

$

-

 

$

-

 

Lawn, garden, pet and other

 

29,335

 

 

20,777

 

Seed processing and sales

 

4,761

 

 

4,761

 

Industrial tools and clamps

 

-

 

 

2,241

 

Corporate and administrative

 

141,075

 

 

133,213

 

 

$

175,171

 

$

160,992

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

Industrial wood products

$

-

 

$

-

 

Lawn, garden, pet and other

 

-

 

 

-

 

Seed processing and sales

 

-

 

 

-

 

Industrial tools and clamps

 

-

 

 

-

 

Corporate and administrative

 

942,188

 

 

207,469

 

 

$

942,188

 

$

207,469

 

 

 

 

 

 

 

 

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, 2021 and 2020:

 

 

 

2021

 

2020

 

 

 

 

 

 

 

 

Sales

$

22,279,565

 

$

12,605,112

 

 

14.SEGMENT INFORMATION (cont’d…) 

 

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, 2020 and 2019:

 

 

 

2021

 

2020

 

 

 

 

 

 

 

 

United States

$

40,698,374

 

$

30,184,205

 

Canada

 

1,197,681

 

 

535,049

 

Mexico / Latin America / Caribbean

 

181,168

 

 

159,926

 

Europe

 

171,254

 

 

6,867

 

Asia/Pacific

 

148,114

 

 

32,298

 

All of the Company’s significant identifiable assets were located in the United States as of May 31, 2021 and 2020.