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SEGMENT INFORMATION
 3 Months Ended
Nov. 30, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION

 

11.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 three-month periods ended November 30, 2022 and 2021.

 

          
   2022   2021 
         
Sales to unaffiliated customers:          
Industrial wood products  $606,909   $534,112 
Lawn, garden, pet and other   11,619,082    11,845,883 
Seed processing and sales   351,509    537,729 
   $12,577,500   $12,917,724 
   2022   2021 
         
Income (loss) before income taxes:          
Industrial wood products  $(44,246)  $69,950 
Lawn, garden, pet and other   (156,651)   (699,697)
Seed processing and sales   (27,818)   (101,350)
Corporate and administrative   135,365    246,640 
   $(93,350)  $(484,457)
           
Identifiable assets:          
Industrial wood products  $863,237   $548,697 
Lawn, garden, pet and other   26,325,793    23,762,100 
Seed processing and sales   550,426    658,972 
Corporate and administrative   6,907,012    5,863,363 
   $34,646,468   $30,846,045 
           
Depreciation and amortization:          
Industrial wood products  $—     $—   
Lawn, garden, pet and other   15,641    10,676 
Seed processing and sales   1,587    1,587 
Corporate and administrative   94,308    57,375 
   $111,536   $69,638 

 

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, 2022 and 2021:

 

         
    2022   2021 
             
 Sales   $7,795,215   $6,393,994 

 

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, 2022 and 2021:

 

          
   2022   2021 
         
United States  $12,023,282   $12,089,619 
Canada   265,425    305,205 
Europe   40,525    1,950 
Mexico/Latin America/Caribbean   148,512    283,187 
Asia/Pacific   99,756    237,763 

 

All of the Company’s significant identifiable assets were located in the United States as of November 30, 2022 and 2021.