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SEGMENT INFORMATION
 3 Months Ended
Nov. 30, 2023
Retirement Benefits [Abstract]  
SEGMENT INFORMATION

10.PENSION AND PROFIT-SHARING PLANS

The Company has a deferred compensation 401(k) plan for all employees with at least 6 months of service pending a monthly enrollment time. The plan allows for a non-elective discretionary contribution plus matching employee contributions up to a specific limit. The percentages of contribution remain the discretion of the Board and are reviewed with management annually. For the three-month periods ended November 30, 2023 and 2022 the 401(k) compensation expense were $96,470 and $126,938, respectively.

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.

The following is a summary of segmented information for the three-month periods ended November 30, 2023 and 2022.

           
  2023   2022 
         
Sales to unaffiliated customers:          
Industrial wood products  $1,134,351   $606,909 
Lawn, garden, pet and other   8,622,972    11,619,082 
Seed processing and sales   48,518    351,509 
   $9,805,841   $12,577,500 
           
Income (loss) before income taxes:          
Industrial wood products  $61,617   $(44,246)
Lawn, garden, pet and other   1,385,659    (156,651)
Seed processing and sales   33,043    (27,818)
Corporate and administrative   263,257    135,365 
   $1,743,576   $(93,350)
           
Identifiable assets:          
Industrial wood products  $985,386   $863,237

 

 

Lawn, garden, pet and other   20,359,711    26,325,793 
Seed processing and sales   37,629    550,426 
Corporate and administrative   8,555,243    6,907,012 
   $29,937,969   $34,646,468 
           
Depreciation and amortization:          
Industrial wood products  $—   $— 
Lawn, garden, pet and other   17,452    15,641 
Seed processing and sales   870    1,587 
Corporate and administrative   79,581    94,308 
   $97,903   $111,536 

 

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, 2023 and 2022:

 

    2023   2022 
Sales   $6,125,113   $7,795,215 

 

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, 2023 and 2022:

        
   2023   2022 
         
United States  $9,132,072   $12,023,282 
Canada   673,769    265,425 
Europe   —    40,525 
Mexico/Latin America/Caribbean   —    148,512 
Asia/Pacific   —    99,756 

 

All of the Company’s significant identifiable assets were located in the United States as of November 30, 2023 and 2022.