15. Segment Information

9 Months Ended

May 31, 2020

Notes

15. Segment Information

15.SEGMENT INFORMATION  

The Company has four principal reportable segments. Three segments are continuing operations and one, Industrial Tools and Clamps, is considered as a discontinued operation. 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, 2020 and 2019.

	2020		2019
Sales to unaffiliated customers:
Industrial wood products	$	1,955,669	$	2,993,653
Lawn, garden, pet and other		27,493,875		28,435,820
Seed processing and sales		1,230,765		1,551,427
Industrial tools and clamps		238,036		634,616
	$	30,918,345	$	33,615,516
Income (loss) before income taxes:
Industrial wood products	$	(69,619)	$	53,624
Lawn, garden, pet and other		1,626,378		1,300,444
Seed processing and sales		(60,458)		(121,164)
Industrial tools and clamps		(238,195)		(20,604)
Corporate and administrative		505,597		969,706
	$	1,763,703	$	2,182,006
Identifiable assets:
Industrial wood products	$	780,726	$	1,149,255
Lawn, garden, pet and other		13,346,110		13,703,422
Seed processing and sales		547,496		469,466
Industrial tools and clamps		741		450,888
Corporate and administrative		7,057,217		6,682,067
	$	21,732,290	$	22,455,098
Depreciation and amortization:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		20,777		16,585
Seed processing and sales		4,761		6,134
Industrial tools and clamps		2,241		367
Corporate and administrative		133,213		120,327
	$	160,992	$	143,413
Capital expenditures:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		-		-
Seed processing and sales		-		-
Industrial tools and clamps		-		-
Corporate and administrative		207,469		8,112
	$	207,469	$	8,112
Interest expense:	$	-	$	-

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, 2020 and 2019:

	2020		2019
Sales	$	12,605,112	$	15,042,055

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, 2020 and 2019:

	2020		2019
United States	$	30,184,205	$	32,343,957
Canada		535,049		979,510
Mexico/Latin America/Caribbean		159,926		176,858
Europe		6,867		36,138
Asia/Pacific		32,298		79,053

All of the Company’s significant identifiable assets were located in the United States as of May 31, 2020 and 2019.