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SEGMENT INFORMATION
 9 Months Ended
May 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 nine-month periods ended May 31, 2022 and 2021.

 

 

          
   2022   2021 
         
Sales to unaffiliated customers:          
Industrial wood products  $1,690,262   $1,883,064 
Lawn, garden, pet and other   43,978,959    37,843,378 
Seed processing and sales   2,231,444    2,670,149 
   $47,900,665   $42,396,591 
           
Income (loss) before income taxes:          
Industrial wood products  $8,823   $(46,258)
Lawn, garden, pet and other   1,499,053    3,592,546 
Seed processing and sales   (238,387)   94,339 
Corporate and administrative   586,749    245,108 
   $1,856,238   $3,885,735 

 

   2022   2021 
         
Identifiable assets:          
Industrial wood products  $669,301   $701,021 
Lawn, garden, pet and other   28,754,441    19,205,736 
Seed processing and sales   474,038    793,392 
Corporate and administrative   7,356,579    6,681,766 
   $37,254,359   $27,381,915 
           
Depreciation and amortization:          
Industrial wood products  $—   $— 
Lawn, garden, pet and other   29,385    29,335 
Seed processing and sales   4,761    4,761 
Corporate and administrative   202,855    141,075 
   $237,001   $175,171 
           
Capital expenditures:          
Industrial wood products  $—   $— 
Lawn, garden, pet and other   —    — 
Seed processing and sales   —    — 
Corporate and administrative   1,011,359    942,188 
   $1,011,359   $942,188 
           
Interest expense:  $98,868   $— 

 

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, 2022 and 2021:

 

          
    2022   2021 
          
Sales   $25,309,216   $22,279,565 

 

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, 2022 and 2021:

 

          
   2022   2021 
         
United States  $45,945,594   $40,698,374 
Canada   879,929    1,197,681 
Mexico / Latin America / Caribbean   766,147    181,168 
Europe   76,247    171,254 
Asia/Pacific   232,748    148,114 

 

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