13. Segment Information

6 Months Ended

Feb. 28, 2017

Notes

13. Segment Information

13.           SEGMENT INFORMATION

The Company has four 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, 2017 and February 29, 2016:

	2017	2016
Sales to unaffiliated customers:
Industrial wood products	$    1,697,032	$    2,858,363
Lawn, garden, pet and other	15,585,202	17,376,563
Seed processing and sales	1,638,954	2,348,469
Industrial tools and clamps	999,901	546,246
	$  19,921,089	$  23,129,641
Income (loss) before income taxes:
Industrial wood products	$        (63,876)	$         44,412
Lawn, garden, pet and other	893,787	1,048,667
Seed processing and sales	84,030	(51,425)
Industrial tools and clamps	65,911	(81,262)
Corporate and administrative  *	364,314	165,574
	$    1,344,166	$     1,125,966
Identifiable assets:
Industrial wood products	$       912,060	$     1,457,118
Lawn, garden, pet and other	11,390,537	8,814,395
Seed processing and sales	505,684	664,569
Industrial tools and clamps	671,308	504,438
Corporate and administrative	6,219,299	8,509,837
	$  19,698,888	$   19,950,357
Depreciation and amortization:
Industrial wood products	$              165	$               490
Lawn, garden, pet and other	18,275	23,828
Seed processing and sales	6,482	5,332
Industrial tools and clamps	657	1,199
Corporate and administrative	112,428	113,134
	$       138,007	$        143,983
Capital expenditures:
Industrial wood products	$                   -	$                    -
Lawn, garden, pet and other	-	-
Seed processing and sales	-	-
Industrial tools and clamps	-	-
Corporate and administrative	335,014	47,902
	$       335,014	$          47,902
Interest expense:	$                   -	$                    -

*      Litigation expense incurred during the period ended February 29, 2016 of $115,990 is included in this balance (Note 12(a)).

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, 2017 and February 29, 2016:

	2017	2016
Sales	$      9,159,127	$      10,958,881

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, 2017 and February 29, 2016:

	2017	2016
United States	$    18,635,193	$    20,857,137
Canada	866,057	611,644
Mexico/Latin America	362,556	1,601,811
Europe	12,408	-
Asia/Pacific	44,875	59,049

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2017 and February 29, 2016.