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SEGMENT INFORMATION
 6 Months Ended
Feb. 28, 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 six month periods ended February 28, 2022 and 2021.

 

          
   2022   2021 
         
Sales to unaffiliated customers:          
Industrial wood products  $1,119,670   $1,245,346 
Lawn, garden, pet and other   24,203,362    17,822,958 
Seed processing and sales   1,655,443    1,708,335 
   $26,978,475   $20,776,639 
           
(Loss) income before income taxes:          
Industrial wood products  $43,946   $(36,464)
Lawn, garden, pet and other   (569,856)   487,741 
Seed processing and sales   (121,748)   51,405 
Corporate and administrative   531,321    63,939 
   $(116,337)  $566,621 
           
Identifiable assets:          
Industrial wood products  $592,882   $719,493 
Lawn, garden, pet and other   27,893,913    13,907,759 
Seed processing and sales   1,010,607    907,460 
Corporate and administrative   6,659,285    7,699,446 
   $36,156,687   $23,234,158 
Capital expenditures:          
Industrial wood products  $—   $— 
Lawn, garden, pet and other   —    — 
Seed processing and sales   —    — 
Corporate and administrative   908,401    519,470 
   $908,401   $519,470 
           
Interest expense:  $50,896   $— 

 

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, 2022 and 2021:

 

           
    2022   2021 
            
Sales   $13,029,830   $7,591,948 

 

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, 2022 and 2021:

 

        
   2022   2021 
         
United States  $25,657,040   $20,394,544 
Canada   426,425    250,863 
Europe   24,913    11,058 
Mexico/Latin America/Caribbean   632,334    108,659 
Asia/Pacific   237,763    11,515 

 

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2022 and 2021.