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SEGMENT INFORMATION
 12 Months Ended
Aug. 31, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION

 

12.SEGMENT INFORMATION

 

The Company has three 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 years ended August 31:

 

          
   2022   2021 
Sales to unaffiliated customers:          
Industrial wood products  $2,626,209   $2,597,276 
Pet, Fencing and Other   57,915,828    51,732,129 
Seed processing and sales   2,359,794    3,172,138 
   $62,901,831   $57,501,543 
           
Income (loss) before income taxes:          
Industrial wood products  $21,865   $(144,313)
Pet, Fencing and Other   1,257,449    4,052,624 
Seed processing and sales   (517,453)   (64,538)
Corporate and administrative   819,139    580,435 
   $1,581,000   $4,424,208 

 

   2022   2021 
         
Identifiable assets:          
Industrial wood products  $1,012,019   $754,357 
Pet, Fencing and Other   27,152,959    22,658,829 
Seed processing and sales   471,003    223,443 
Corporate and administrative   5,880,755    5,501,770 
   $34,516,736   $29,138,399 
           
Depreciation and amortization:          
Industrial wood products  $—   $— 
Pet, Fencing and Other   39,200    39,313 
Seed processing and sales   6,347    6,347 
Corporate and administrative   274,070    198,619 
   $319,617   $244,279 
           
Capital expenditures:          
Industrial wood products  $—   $— 
Pet, Fencing and Other   —    — 
Seed processing and sales   —    — 
Corporate and administrative   1,259,429    1,193,494 
   $1,259,429   $1,193,494 
           
Interest expense:  $163,045   $15,321 

 

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the years ended August 31:

 

          
   2022   2021 
         
Sales  $33,010,410   $29,806,021 

  

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 fiscal years ended August 31:

 

          
   2022   2021 
         
United States  $60,521,611   $55,280,479 
Canada   1,151,901    1,556,359 
Mexico/Latin America/Caribbean   900,941    325,648 
Europe   94,630    171,254 
Asia/Pacific   232,748    167,803 
Total sales by country  $62,901,831   $57,501,543 

 

All of the Company’s significant identifiable assets were located in the United States as of August 31, 2022 and 2021.