13. Segment Information

6 Months Ended

Feb. 29, 2020

Notes

13. Segment Information

13.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 29, 2020 and February 28, 2019:

	2020		2019
Sales to unaffiliated customers:
Industrial wood products	$	1,469,991	$	1,962,817
Lawn, garden, pet and other		12,002,833		13,452,656
Seed processing and sales		966,245		1,089,480
Industrial tools and clamps		238,036		418,322
	$	14,677,105	$	16,923,275
(Loss) income before income taxes:
Industrial wood products	$	(45,525)	$	26,487
Lawn, garden, pet and other		(282,702)		14,092
Seed processing and sales		43,181		(60,794)
Industrial tools and clamps		(222,432)		(19,361)
Corporate and administrative		352,182		707,910
	$	(155,296)	$	668,334
Identifiable assets:
Industrial wood products	$	712,138	$	985,205
Lawn, garden, pet and other		9,348,210		13,677,090
Seed processing and sales		416,695		60,350
Industrial tools and clamps		2,749		433,501
Corporate and administrative		7,360,288		7,122,600
	$	17,840,080	$	22,278,746
Capital expenditures:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		-		-
Seed processing and sales		-		-
Industrial tools and clamps		-		-
Corporate and administrative		152,403		-
	$	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 29, 2020 and February 28, 2019:

	2020		2019
Sales	$	5,507,419	$	8,054,610

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 29, 2020 and February 28, 2019:

	2020		2019
United States	$	14,205,990	$	16,168,654
Canada		379,527		621,444
Mexico/Latin America/Caribbean		62,826		104,370
Europe		3,247		27,026
Asia/Pacific		25,515		1,781

All of the Company’s significant identifiable assets were located in the United States as of February 29, 2020 and February 28, 2019.