14. Segment Information

12 Months Ended

Aug. 31, 2020

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 years ended August 31:

	2020		2019
Sales to unaffiliated customers:
Industrial wood products	$	2,285,250	$	3,910,117
Lawn, garden, pet and other		40,348,660		38,510,213
Seed processing and sales		2,071,157		2,233,406
Industrial tools and clamps		240,196		792,626
	$	44,945,263	$	45,446,362
Income (loss) before income taxes:
Industrial wood products	$	(122,088)	$	71,192
Lawn, garden, pet and other		3,936,491		2,040,631
Seed processing and sales		(181,712)		(222,191)
Industrial tools and clamps		(237,133)		(159,914)
Corporate and administrative		493,598		1,158,426
	$	3,889,156	$	2,888,144
Identifiable assets:
Industrial wood products	$	819,585	$	977,117
Lawn, garden, pet and other		14,984,480		7,590,487
Seed processing and sales		544,161		471,888
Industrial tools and clamps		-		279,591
Corporate and administrative		6,929,735		12,895,595
	$	23,277,961	$	22,214,677
Depreciation and amortization:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		29,774		23,021
Seed processing and sales		6,347		8,007
Industrial tools and clamps		2,242		489
Corporate and administrative		179,349		160,302
	$	217,712	$	191,819
Capital expenditures:
Industrial wood products	$	-	$	-
Lawn, garden, pet and other		-		-
Seed processing and sales		-		-
Industrial tools and clamps		-		-
Corporate and administrative		449,282		32,732
	$	449,282	$	32,732
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:

	2020			2019
Sales	$	19,679,274	$	20,544,268

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:

	2020		2019
United States	$	43,914,053	$	43,894,726
Canada		735,547		1,243,239
Mexico/Latin America/Caribbean		162,404		180,664
Europe		35,730		43,851
Asia/Pacific		97,529		83,882
	$	44,945,263	$	45,446,362

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