14. Segment Information

6 Months Ended

Feb. 28, 2021

Notes

14. Segment Information

14.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 six-month periods ended February 28, 2021 and February 29, 2020.

	2021		2020
Sales to unaffiliated customers:
Industrial wood products	$	1,245,346	$	1,469,991
Lawn, garden, pet and other		17,822,958		12,002,833
Seed processing and sales		1,708,335		966,245
Industrial tools and clamps		-		238,036
	$	20,776,639	$	14,677,105
(Loss) income before income taxes:
Industrial wood products	$	(36,464)	$	(45,525)
Lawn, garden, pet and other		487,741		(282,702)
Seed processing and sales		51,405		43,181
Industrial tools and clamps		-		(222,432)
Corporate and administrative		63,939		352,182
	$	566,621	$	(155,296)
Identifiable assets:
Industrial wood products	$	719,493	$	712,138
Lawn, garden, pet and other		13,907,759		9,348,210
Seed processing and sales		907,460		416,695
Industrial tools and clamps		-		2,749
Corporate and administrative		7,699,446		7,360,288
	$	23,234,158	$	17,840,080
Capital expenditures:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		-		-
Seed processing and sales		-		-
Industrial tools and clamps		-		-
Corporate and administrative		519,470		152,403
	$	519,470	$	152,403
Interest expense:	$	-	$	-

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, 2021 and February 29, 2020:

	2021		2020
Sales	$	7,591,948	$	4,898,298

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, 2021 and February 29, 2020:

	2021		2020
United States	$	20,394,544	$	14,205,990
Canada		250,863		379,527
Mexico/Latin America/Caribbean		108,659		62,826
Europe		11,058		3,247
Asia/Pacific		11,515		25,515

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2021 and February 29, 2020.