14. Segment Information

12 Months Ended

Aug. 31, 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.

14.SEGMENT INFORMATION (continued) 

Following is a summary of segmented information for the years ended August 31:

	2021		2020
Sales to unaffiliated customers:
Industrial wood products	$	2,597,276	$	2,285,250
Pet, Fencing and Other		51,732,129		40,348,660
Seed processing and sales		3,172,138		2,071,157
Industrial tools and clamps		-		240,196
	$	57,501,543	$	44,945,263
Income (loss) before income taxes:
Industrial wood products	$	(144,313)	$	(122,088)
Pet, Fencing and Other		4,052,624		3,936,491
Seed processing and sales		(64,538)		(181,712)
Industrial tools and clamps		-		(237,133)
Corporate and administrative		580,435		493,598
	$	4,424,208	$	3,889,156
Identifiable assets:
Industrial wood products	$	754,357	$	819,585
Pet, Fencing and Other		22,658,829		14,984,480
Seed processing and sales		223,443		544,161
Corporate and administrative		5,501,770		6,929,735
	$	29,138,399	$	23,277,961
Depreciation and amortization:
Industrial wood products	$	-	$	-
Pet, Fencing and Other		39,313		29,774
Seed processing and sales		6,347		6,347
Industrial tools and clamps		-		2,242
Corporate and administrative		198,619		179,349
	$	244,279	$	217,712
Capital expenditures:
Industrial wood products	$	-	$	-
Pet, Fencing and Other		-		-
Seed processing and sales		-		-
Corporate and administrative		1,193,494		449,282
	$	1,193,494	$	449,282
Interest expense:	$	-	$	-

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the years ended August 31:

	2021			2020
Sales	$	29,806,021	$	19,679,274

14.SEGMENT INFORMATION (continued) 

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 fiscal years ended August 31:

	2021		2020
United States	$	55,280,479	$	43,914,053
Canada		1,556,359		735,547
Mexico/Latin America/Caribbean		325,648		162,404
Europe		171,254		35,730
Asia/Pacific		167,803		97,529
	$	57,501,543	$	44,945,263

All of the Company’s significant identifiable assets were located in the United States as of August 31, 2021 and 2020.