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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/13/14 Jewett Cameron Trading Co Ltd 10-Q 11/30/13 83:2.8M AB Korelin & Assocs/FA |
Document/Exhibit Description Pages Size 1: 10-Q Jewett Cameron 10-Q for the Period Ended November HTML 232K 30, 2013 2: EX-3.1 Amended and Restated Articles HTML 32K 3: EX-3.2 Articles of Incorporation Jcc HTML 36K 4: EX-31.1 CEO Certification HTML 31K 5: EX-31.2 CFO Certification HTML 30K 6: EX-32.1 Certification of CEO HTML 27K 7: EX-32.2 Certification of CFO HTML 27K 56: R1 Document and Entity Information HTML 52K 43: R2 Jewett-Cameron Trading Company Ltd. Consolidated HTML 99K Balance Sheets (Prepared by Management) (Unaudited) 54: R3 Statement of Financial Position - Parenthetical HTML 53K 58: R4 Jewett-Cameron Trading Company Ltd. Consolidated HTML 73K Statements of Operations (Prepared by Management) (Unaudited) 77: R5 Jewett-Cameron Trading Company Ltd. and HTML 42K Subsidiaries Consolidated Statements of Stockholders' Equity (Prepared by Management) (Unaudited) 45: R6 Jewett-Cameron Trading Company Ltd. Consolidated HTML 84K Statements of Cash Flows (Prepared by Management) (Unaudited) 53: R7 1. Nature of Operations HTML 33K 39: R8 2. Significant Accounting Policies HTML 79K 29: R9 3. Inventory HTML 36K 78: R10 4. Property, Plant and Equipment HTML 41K 60: R11 5. Intangible Assets HTML 36K 59: R12 6. Deferred Income Taxes HTML 31K 65: R13 7. Bank Indebtedness HTML 30K 66: R14 8. Capital Stock HTML 36K 63: R15 9. Cancellation of Capital Stock HTML 32K 67: R16 10. Stock Options HTML 33K 55: R17 11. Employee Stock Ownership Plan ("Esop") HTML 32K 57: R18 12. Pension and Profit-sharing Plans HTML 29K 62: R19 13. Contingent Liabilities and Commitments HTML 42K 83: R20 14. Segment Information HTML 78K 73: R21 15. Concentrations HTML 33K 50: R22 16. Supplemental Disclosure With Respect To Cash HTML 34K Flows 61: R23 2. Significant Accounting Policies: Generally HTML 28K Accepted Accounting Principles (Policies) 52: R24 2. Significant Accounting Policies: Principles of HTML 31K Consolidation (Policies) 22: R25 2. Significant Accounting Policies: Estimates HTML 30K (Policies) 74: R26 2. Significant Accounting Policies: Cash and Cash HTML 31K Equivalents (Policies) 80: R27 2. Significant Accounting Policies: Accounts HTML 31K Receivable (Policies) 34: R28 2. Significant Accounting Policies: Inventory HTML 31K (Policies) 33: R29 2. Significant Accounting Policies: Property, HTML 33K Plant and Equipment (Policies) 37: R30 2. Significant Accounting Policies: Intangibles HTML 29K (Policies) 38: R31 2. Significant Accounting Policies: Asset HTML 30K Retirement Obligations (Policies) 40: R32 2. Significant Accounting Policies: Impairment of HTML 30K Long-lived Assets and Long-lived Assets To Be Disposed of (Policies) 20: R33 2. Significant Accounting Policies: Currency and HTML 31K Foreign Exchange (Policies) 71: R34 2. Significant Accounting Policies: Earnings Per HTML 39K Share (Policies) 48: R35 2. Significant Accounting Policies: Comprehensive HTML 28K Income (Policies) 51: R36 2. Significant Accounting Policies: Stock-based HTML 30K Compensation (Policies) 25: R37 2. Significant Accounting Policies: Financial HTML 47K Instruments (Policies) 82: R38 2. Significant Accounting Policies: Income Taxes HTML 32K (Policies) 14: R39 2. Significant Accounting Policies: Shipping and HTML 31K Handling Costs (Policies) 41: R40 2. Significant Accounting Policies: Revenue HTML 31K Recognition (Policies) 76: R41 2. Significant Accounting Policies: HTML 29K Reclassifications (Policies) 24: R42 2. Significant Accounting Policies: Recent HTML 28K Accounting Pronouncements (Policies) 32: R43 2. Significant Accounting Policies: Property, HTML 31K Plant and Equipment: Property, Plant and Equipment, Estimated Useful Lives (Tables) 36: R44 2. Significant Accounting Policies: Earnings Per HTML 38K Share: Earnings Per Share (Tables) 44: R45 2. Significant Accounting Policies: Financial HTML 38K Instruments: Fair Value, Option, Quantitative Disclosures (Tables) 19: R46 3. Inventory: Schedule of Inventory, Current HTML 35K (Tables) 28: R47 4. Property, Plant and Equipment: Property, Plant HTML 39K and Equipment (Tables) 16: R48 5. Intangible Assets: Schedule of Finite-Lived HTML 36K Intangible Assets (Tables) 75: R49 13. Contingent Liabilities and Commitments: Legal HTML 34K Matters and Contingencies (Tables) 23: R50 14. Segment Information: Schedule of Segment HTML 62K Reporting Information, by Segment (Tables) 72: R51 14. Segment Information: Schedule of sales in HTML 29K excess of ten percent (Tables) 26: R52 14. Segment Information: Schedule of Revenue from HTML 35K External Customers Attributed to Foreign Countries by Geographic Area (Tables) 42: R53 16. Supplemental Disclosure With Respect To Cash HTML 32K Flows: Schedule of Cash Flow, Supplemental Disclosures (Tables) 15: R54 2. Significant Accounting Policies: Cash and Cash HTML 29K Equivalents (Details) 18: R55 2. Significant Accounting Policies: Property, HTML 30K Plant and Equipment: Property, Plant and Equipment, Estimated Useful Lives (Details) 35: R56 2. Significant Accounting Policies: Earnings Per HTML 42K Share: Earnings Per Share (Details) 21: R57 2. Significant Accounting Policies: Financial HTML 38K Instruments: Fair Value, Option, Quantitative Disclosures (Details) 79: R58 3. Inventory: Schedule of Inventory, Current HTML 35K (Details) 46: R59 4. Property, Plant and Equipment: Property, Plant HTML 45K and Equipment (Details) 64: R60 5. Intangible Assets: Schedule of Finite-Lived HTML 39K Intangible Assets (Details) 27: R61 12. Pension and Profit-sharing Plans (Details) HTML 28K 30: R62 13. Contingent Liabilities and Commitments: Legal HTML 33K Matters and Contingencies (Details) 70: R63 14. Segment Information: Schedule of sales in HTML 28K excess of ten percent (Details) 68: R64 14. Segment Information: Schedule of Revenue from HTML 35K External Customers Attributed to Foreign Countries by Geographic Area (Details) 49: R65 15. Concentrations (Details) HTML 31K 69: R66 16. Supplemental Disclosure With Respect To Cash HTML 31K Flows: Schedule of Cash Flow, Supplemental Disclosures (Details) 81: XML IDEA XML File -- Filing Summary XML 127K 17: EXCEL IDEA Workbook of Financial Reports XLSX 107K 31: EXCEL IDEA Workbook of Financial Reports (.xls) XLS 421K 8: EX-101.INS XBRL Instance -- jctcf-20131130 XML 544K 10: EX-101.CAL XBRL Calculations -- jctcf-20131130_cal XML 46K 11: EX-101.DEF XBRL Definitions -- jctcf-20131130_def XML 109K 12: EX-101.LAB XBRL Labels -- jctcf-20131130_lab XML 372K 13: EX-101.PRE XBRL Presentations -- jctcf-20131130_pre XML 341K 9: EX-101.SCH XBRL Schema -- jctcf-20131130 XSD 126K 47: ZIP XBRL Zipped Folder -- 0001217160-14-000013-xbrl Zip 59K
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<dei:EntityRegistrantName contextRef="D130901_131130"> JEWETT CAMERON TRADING CO LTD </dei:EntityRegistrantName> | |||||||||||||||||||||
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<us-gaap:NatureOfOperations contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">1. NATURE OF OPERATIONS </font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Jewett-Cameron Trading Company Ltd. was incorporated in British Columbia on July 8, 1987 as a holding company for Jewett-Cameron Lumber Corporation (“JCLC”), incorporated September 1953. Jewett-Cameron Trading Company, Ltd. acquired all the shares of JCLC through a stock-for-stock exchange on July 13, 1987, and at that time JCLC became a wholly owned subsidiary. Effective September 1, 2013, the Company reorganized certain of its subsidiaries. JCLC’s name was changed to JC USA Inc. (“JC USA”), and a new subsidiary, Jewett-Cameron Company (“JCC”), was incorporated. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>JC USA has the following wholly owned subsidiaries: MSI-PRO Co. (“MSI”), incorporated April 1996, Jewett-Cameron Seed Company, (“JCSC”), incorporated October 2000, Greenwood Products, Inc. (“Greenwood”), incorporated February 2002, and Jewett-Cameron Company, incorporated September 2013. Jewett-Cameron Trading Company Ltd. and its subsidiaries (the “Company”) have no significant assets in Canada.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company, through its subsidiaries, operates out of facilities located in North Plains, Oregon. JCC’s business consists of the manufacturing and distribution of specialty metal products and wholesale distribution of wood products to home centers and other retailers located primarily in the United States. Greenwood is a processor and distributor of industrial wood and other specialty building products principally to customers in the marine and transportation industries in the United States. MSI is an importer and distributor of pneumatic air tools and industrial clamps in the United States. JCSC is a processor and distributor of agricultural seeds in the United States. JC USA provides professional and administrative services, including accounting and credit services, to its subsidiary companies.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>These unaudited financial statements are those of the Company and its wholly owned subsidiaries. In the opinion of management, the accompanying Consolidated Financial Statements of Jewett-Cameron Trading Company Ltd., contain all adjustments, consisting only of normal recurring adjustments, necessary to fairly state its financial position as of November 30, 2013 and August 31, 2013 and its results of operations and cash flows for the three month periods ended November 30, 2013 and November 30, 2012 in accordance with U.S. GAAP. Operating results for the three month period ended November 30, 2013 are not necessarily indicative of the results that may be experienced for the fiscal year ending August 31, 2014.</p> </us-gaap:NatureOfOperations> | |||||||||||||||||||||
<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">2.</font></b><font lang="EN-GB"> <b>SIGNIFICANT ACCOUNTING POLICIES</b></font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Generally accepted accounting principles</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America. </font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Principles of consolidation</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, JC USA, JCC, MSI, JCSC, and Greenwood, all of which are incorporated under the laws of Oregon, U.S.A.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">All inter-company balances and transactions have been eliminated upon consolidation.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Estimates</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates incorporated into the Company’s consolidated financial statements include the estimated useful lives for depreciable and amortizable assets, the estimated allowances for doubtful accounts receivable and inventory obsolescence, possible product liability and possible product returns, and litigation contingencies and claims. Actual results could differ from those estimates.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Cash and cash equivalents</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. At November 30, 2013, cash was $</font><font lang="EN-GB">8,096,072</font><font lang="EN-GB"> compared to $</font><font lang="EN-GB">8,308,445</font><font lang="EN-GB"> at August 31, 2013. At November 30, 2013 and August 31, 2013, there were no cash equivalents.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Accounts receivable</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="X-NONE">Trade and other accounts receivable are reported at face value less any provisions for uncollectible accounts considered necessary. Accounts receivable primarily includes trade receivables from customers. The Company estimates doubtful accounts on an item-by-item basis and includes over aged accounts as part of allowance for doubtful accounts, which are generally ones that are ninety days or greater overdue. </font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="X-NONE">The Company extends credit to domestic customers and offers discounts for early payment. When extension of credit is not advisable, the Company relies on either prepayment or a letter of credit.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Inventory</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Inventory, which consists primarily of finished goods, is recorded at the lower of cost, based on the average cost method, and market. Market is defined as net realizable value. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a review of inventory components.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Property, plant and equipment</font></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in;text-align:justify'><font lang="X-NONE">Property, plant and equipment are recorded at cost less accumulated depreciation. The Company provides for depreciation over the estimated life of each asset on a straight-line basis over the following periods:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <table border="0" cellspacing="0" cellpadding="0" width="696" style='width:7.25in;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, minimum</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, maximum</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Office equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">7</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Warehouse equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">2</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">10</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Buildings</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">30</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p> </p> <p> </p> <p> </p> <p><font lang="X-NONE" style='font-style:normal'>Intangibles</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company’s intangible assets have a finite life and are recorded at cost. The most significant intangible assets are two patents related to gate support systems. Amortization is calculated using the straight-line method over the remaining lives of 51 months and 63 months, respectively, and are reviewed annually for impairment.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='text-align:justify'><font lang="X-NONE" style='font-style:normal'>Asset retirement obligations</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost). The Company does not have any significant asset retirement obligations.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Impairment of long-lived assets and long-lived assets to be disposed of</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Currency and foreign exchange</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">These financial statements are expressed in U.S. dollars as the Company's operations are based only in the United States.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company does not have non-monetary or monetary assets and liabilities that are in a currency other than the U.S. dollar. Any income statement transactions in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Earnings per share</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding in the period. Diluted earnings per common share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive common shares.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The earnings per share data for the three months ended November 30, 2013 and November 30, 2012 are as follows:</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="627" style='width:469.9pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:9.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2012</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;text-indent:-45.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Net income </font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">332,579</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">480,746</font><font lang="EN-GB"> </font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Basic weighted average number of common shares outstanding</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Effect of dilutive securities</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;text-indent:-.9pt'><font lang="EN-GB">Stock options</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Diluted weighted average number of common shares outstanding </font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Comprehensive income</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company has no items of other comprehensive income in any period presented. Therefore, net income presented in the consolidated statements of operations equals comprehensive income.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Stock-based compensation</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>All stock-based compensation is recognized as an expense in the financial statements and such costs are measured at the fair value of the award. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>No options were granted during the quarter ended November 30, 2013, and there were no options outstanding on November 30, 2013.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Financial instruments </font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Cash </font></i><font lang="EN-GB">- the carrying amount approximates fair value because the amounts consist of cash held at a bank and cash held in short term investment accounts.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Accounts receivable </font></i><font lang="EN-GB">- the carrying amounts approximate fair value due to the short-term nature and historical collectability.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Notes receivable - </font></i><font lang="EN-GB">the carrying amounts approximate fair value due to the short-term nature of the amount.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Accounts payable and accrued liabilities </font></i><font lang="EN-GB">- the carrying amount approximates fair value due to the short-term nature of the obligations.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The estimated fair values of the Company's financial instruments as of November 30, 2013 and August 31, 2013 follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="612" style='width:459.15pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="151" colspan="2" valign="top" style='width:113.2pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">November 30,</font></b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="152" colspan="2" valign="top" style='width:113.65pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">August 31,</font></b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Carrying</font></b></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Fair</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Carrying</font></b></p> </td> <td width="76" valign="top" style='width:57.05pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Fair</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Amount</font></b></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Value</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Amount</font></b></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Value</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Cash</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$</font><font lang="EN-GB">8,096,072</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$8,096,072</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$</font><font lang="EN-GB">8,308,445</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$8,308,445</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accounts receivable, net of allowance</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,237,734</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,237,734</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,344,777</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,344,777</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Note receivable</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">15,000</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">15,000</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accounts payable and accrued liabilities</font></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,119,422</font></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,119,422</font></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,865,340</font></p> </td> <td width="76" valign="top" style='width:57.05pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,865,340</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The following table presents information about the assets that are measured at fair value on a recurring basis as of November 30, 2013, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset:</p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="621" style='width:465.75pt;border-collapse:collapse'> <tr align="left"> <td width="35%" valign="bottom" style='width:35.8%;padding:0'> <p align="center" style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>November 30,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2013</b></p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Quoted Prices</b> <b>in Active</b> <b>Markets</b> <b>(Level 1)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Other</b> <b>Observable</b> <b>Inputs</b> <b>(Level 2)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Unobservable</b> <b>Inputs</b> <b>(Level 3)</b></p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-.25in'>Assets:</p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="8%" valign="bottom" style='width:8.4%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.12%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Cash</p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="8%" valign="bottom" style='width:8.4%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.12%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'>The fair values of cash are determined through market, observable and corroborated sources.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Income taxes</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Shipping and handling costs<u> </u></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company incurs certain expenses related to preparing, packaging and shipping its products to its customers, mainly third-party transportation fees. All costs related to these activities are included as a component of cost of goods sold in the consolidated statement of operations. All costs billed to the customer are included as revenue in the consolidated statement of operations.</p> <p align="left" style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:29.1pt;margin-bottom:.0001pt;text-align:justify;margin-left:0in;text-align:left'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:29.1pt;margin-bottom:.0001pt;text-align:justify;margin-left:0in'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Revenue recognition</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company recognizes revenue from the sales of lumber, building supply products, industrial wood products, specialty metal products, and other specialty products and tools, when the products are shipped, title passes, and the ultimate collection is reasonably assured. Revenue from the Company's seed operations is generated from seed processing, handling and storage services provided to seed growers, and by the sales of seed products. Revenue from the provision of these services and products is recognized when the services have been performed, products sold and collection of the amounts is reasonably assured.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Reclassifications</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Certain reclassifications have been made to prior years’ financial statements to conform to the classifications used in the current year. These reclassifications include adjustments to reflect the reorganization of the Corporate structure and reporting segments effective September 1, 2013. </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Recent Accounting Pronouncements </b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Management has reviewed the new accounting guidance and determined that there is not a material impact on our financial statements.</p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:SignificantAccountingPoliciesTextBlock> | |||||||||||||||||||||
<us-gaap:InventoryDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.5in'><b><font lang="EN-GB">3. INVENTORY</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">A summary of inventory is as follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="604" style='width:453.35pt;border-collapse:collapse'> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Wood products and metal products</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">7,784,932</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">7,984,678</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Industrial tools</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">527,507</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">482,949</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Agricultural seed products</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">62,312</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">53,364</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 8,374,751</p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 8,520,991</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:InventoryDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">4. PROPERTY, PLANT AND EQUIPMENT</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">A summary of property, plant, and equipment is as follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="636" style='width:477.0pt;margin-left:.9pt;border-collapse:collapse'> <tr align="left"> <td width="408" valign="top" style='width:4.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Office equipment</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">557,456</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">565,575</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Warehouse equipment</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">1,467,602</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">1,431,707</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Buildings</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">2,695,810</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">2,681,989</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Land</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">761,924</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">761,924</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">5,482,792</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">5,441,195</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Accumulated depreciation</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">3,235,458</font><font lang="EN-GB">)</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">3,199,245</font><font lang="EN-GB">)</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Net book value</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">2,247,334</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">2,241,950</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">In the event that facts and circumstances indicate that the carrying amount of an asset may not be recoverable and an estimate of future discounted cash flows is less than the carrying amount of the asset, an impairment loss will be recognized. Management's estimates of revenues, operating expenses, and operating capital are subject to certain risks and uncertainties which may affect the recoverability of the Company's investments in its assets. Although management has made its best estimate of these factors based on current conditions, it is possible that changes could occur which could adversely affect management's estimate of the net cash flow expected to be generated from its operations.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'> </p> </us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:IntangibleAssetsDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'><b><font lang="EN-GB">5. INTANGIBLE ASSETS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">A summary of intangible assets is as follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="630" style='width:472.5pt;margin-left:5.4pt;border-collapse:collapse'> <tr style='height:8.85pt'> <td width="402" valign="top" style='width:301.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="20" valign="top" style='width:15.25pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Patent</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">850,000</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">850,000</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Other</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">43,655</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">43,655</font></p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">893,655</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">893,655</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accumulated amortization</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">543,169</font><font lang="EN-GB">)</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">524,993</font><font lang="EN-GB">)</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Net book value</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">350,486</font></p> </td> <td width="20" valign="top" style='width:15.25pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">368,662</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> </us-gaap:IntangibleAssetsDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:36.5pt;text-align:justify;text-indent:-36.5pt'><b><font lang="EN-GB">6.</font></b><font lang="EN-GB"> <b>DEFERRED INCOME TAXES</b></font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Deferred income tax liability as of November 30, 2013 of $45,829 (August 31, 2013 – $50,393) reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.</font></p> </us-gaap:IncomeTaxDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:DebtDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt'><b><font lang="EN-GB">7. BANK INDEBTEDNESS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">There was no bank indebtedness under the Company’s line of credit as of November 30, 2013 or August 31, 2013.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Bank indebtedness, when it exists, is secured by an assignment of accounts receivable and inventory. </font>Interest is calculated solely on the one month LIBOR rate plus 200 basis points.</p> </us-gaap:DebtDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:36.5pt;text-align:justify;text-indent:-36.5pt'><b><font lang="EN-GB">8. CAPITAL STOCK</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'><font lang="EN-GB"> <b>Common Stock</b></font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'><font lang="EN-GB"> Holders of common stock are entitled to one vote for each share held. There are no restrictions that limit the Company's ability to pay dividends on its common stock. The Company has not declared any dividends since incorporation.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'><font lang="EN-GB">Common Stock Split</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5pt'><font lang="EN-GB">The Company declared a two for one stock split of its common stock with a record date at the close of business on April 25, 2013. Shareholders received one additional common share for each common share held as of the record date. The stock split was effective as of May 2, 2013. Share and per share data have been retroactively adjusted to reflect the effects of the stock split.</font></p> </us-gaap:StockholdersEquityNoteDisclosureTextBlock> | |||||||||||||||||||||
<fil:CANCELLATIONOFCAPITALSTOCK contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">9. </font>CANCELLATION OF CAPITAL STOCK</b></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Treasury stock may be kept based on an acceptable inventory method such as the average cost basis. Upon disposition or cancellation, the treasury stock account is credited for an amount equal to the number of shares cancelled, multiplied by the cost per share and the difference is treated as additional paid-in-capital in excess of stated value. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 4th quarter of fiscal 2013 ended August 31, 2013, the Company repurchased and cancelled a total of 192 common shares under a 10b5-1 share repurchase plan. The total cost was $2,304 at an average price of $12.00 per share. The premium paid to acquire these shares over their per share book value in the amount of $2,213 was recorded as a decrease to retained earnings.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 2nd quarter of fiscal 2013 ended February 28, 2013, the Company repurchased and cancelled a total of 814 common shares common shares of its common stock under a 10b5-1 share repurchase plan. The total cost was $4,884 at an average price of $6.00 per share. The premium paid to acquire these shares over their per share book value in the amount of $4,500 was recorded as a decrease to retained earnings. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 3rd quarter of fiscal 2012 ended May 31, 2012, the Company repurchased and cancelled a total of 83,798 common shares of its common stock under a 10b5-1 share repurchase plan. The total cost was $382,510 at an average price of $4.56 per share. The premium paid to acquire these shares over their per share book value in the amount of $342,969 was recorded as a decrease to retained earnings. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 2nd quarter of fiscal 2012 ended February 29, 2012, the Company repurchased and cancelled a total of 497,174 shares of its common stock under a 10b5-1 share repurchase plan. The total cost was $2,238,929 at an average share price of $4.50 per share. The premium paid to acquire these shares over their per share book value in the amount of $2,004,334 was recorded as a decrease to retained earnings.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 1st quarter of fiscal 2012 ended November 30, 2011, the Company repurchased and cancelled a total of 100,000 shares of its common stock under a 10b5-1 share repurchase plan. The total cost was $454,120 at an average share price of $4.54 per share. The premium paid to acquire these shares over their per share book value in the amount of $406,934 was recorded as a decrease to retained earnings.</p> </fil:CANCELLATIONOFCAPITALSTOCK> | |||||||||||||||||||||
<us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">10. STOCK OPTIONS</font></b><font lang="EN-GB"> </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company has a stock option program under which stock options to purchase securities from the Company can be granted to directors and employees of the Company on terms and conditions acceptable to the regulatory authorities of Canada, notably the Ontario Securities Commission and the British Columbia Securities Commission.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Under the stock option program, stock options for up to 10% of the number of issued and outstanding common shares may be granted from time to time, provided that stock options in favor of any one individual may not exceed 5% of the issued and outstanding common shares. No stock option granted under the stock option program is transferable by the optionee other than by will or the laws of descent and distribution, and each stock option is exercisable during the lifetime of the optionee only by such optionee. Generally, no option can be for a term of more than 10 years from the date of the grant.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The exercise price of all stock options, granted under the stock option program, must be at least equal to the fair market value (subject to regulated discounts) of such common shares on the date of grant. Options vest at the discretion of the Board of Directors. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company had no stock options outstanding as of November 30, 2013 and August 31, 2013.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock> | |||||||||||||||||||||
<us-gaap:EmployeeStockOwnershipPlanESOPPolicy contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">11. EMPLOYEE STOCK OWNERSHIP PLAN (“ESOP”)</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company sponsors an ESOP that covers all U.S. employees who are employed by the Company on August 31 of each year and who have at least one thousand hours with the Company in the twelve months preceding that date. The ESOP formerly held common shares of the Company and granted to participants in the plan certain ownership rights in, but not possession of, or voting control of, any common stock of the Company held by the Trustee of the Plan. Shares of common stock were allocated annually to participants in the ESOP pursuant to a prescribed formula. The Company records compensation expense based on the market price of the Company's shares when they were allocated. Any dividends on allocated ESOP shares are recorded as a reduction of retained earnings. Beginning in fiscal 2010, the ESOP began its investment in diversified mutual funds. During fiscal 2011 and 2012, all of the Company’s shares held by the ESOP were sold, with the majority repurchased by the Company and cancelled under the </font><font lang="X-NONE">10b5-1 share repurchase plans. Effective June 30, 2012, the ESOP was terminated, subject to the approval of the Internal Revenue Service. No further contributions shall be made to the ESOP. On October 18, 2013, the Internal Revenue Service issued a favorable determination letter for the termination of the ESOP, and the Plan is in process of distributing the remaining assets to participants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">ESOP compensation expense was $Nil and $Nil for the fiscal years ended August 31, 2013 and 2012, respectively, and is included in wages and employee benefits. No shares were owned by the ESOP at August 31, 2013 or 2012.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:EmployeeStockOwnershipPlanESOPPolicy> | |||||||||||||||||||||
<us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">12. PENSION AND PROFIT-SHARING PLANS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company has a deferred compensation 401(k) plan for all employees with at least 12 months of service pending a semi-annual enrolment time. The plan allows for a non-elective discretionary contribution based on the first $60,000 of eligible compensation. For the quarters ended November 30, 2013 and 2012 the 401(k) compensation expense was $</font><font lang="EN-GB">47,754</font><font lang="EN-GB"> and $</font><font lang="EN-GB">22,730</font><font lang="EN-GB">, respectively.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:-.5in'><b><font lang="EN-GB">13. CONTINGENT LIABILITIES AND COMMITMENTS </font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>a) A subsidiary was a plaintiff in a lawsuit filed in Portland, Oregon, entitled, Greenwood Products, Inc. et al v. Greenwood Forest Products, Inc. et al., Case No. 05-02553 (Multnomah County Circuit Court). </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During fiscal 2002 the Company entered into a purchase agreement to acquire inventory over a 15 month period with an initial estimated value of $7,000,000 from Greenwood Forest Products, Inc. During the year ended August 31, 2003, the Company completed the final phase of the inventory acquisition. As partial consideration for the purchase of the inventory the Company issued two promissory notes, based on its understanding of the value of the inventory purchased. The Company believes it overpaid the obligation by approximately $820,000. The holder counterclaimed for approximately $2,400,000. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Litigation was completed on March 5, 2007, with the court’s general judgment and money award. The net effect was money judgment in favor of Greenwood Forest Products, Inc. for $242,604. The Company accrued reserves to cover the money judgment related to this dispute. Both parties filed appeals for review of the court’s opinion.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>During the 1st quarter of fiscal 2011, the Oregon Court of Appeals ruled that the judgment in favor of Jewett Cameron as plaintiffs should be reversed and the judgment in favor of the defendants should stand. The judgment in favor of the Company was for $819,000 plus attorneys fees. The judgment against the plaintiffs is for $1,187,137. The Company appealed the decision to the Oregon Supreme Court. During the 1st quarter of fiscal 2011, the Company recorded a litigation loss of $962,137 and interest of $391,988 in addition to the existing litigation reserve of $225,000. Additional interest of $48,790 was recorded during the remainder of fiscal 2011. During the 1st quarter of fiscal 2012 ended November 30, 2011, additional interest of $16,204 was accrued.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>In February 2012, the Company received the decision from the Oregon Supreme Court which was favorable to Jewett Cameron as plaintiff. As a result, the Company has reversed $1,459,832 of the litigation reserve and accrued interest during the 2nd quarter of fiscal 2012 ended February 29, 2012. The reversal was treated as a one-time gain during the quarter.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">During the year ended August 31, 2013, the Company recorded $26,716 of interest income due to the favorable difference in interest rates between the judgments. During the period ended November 30, 2013, the Company recorded $6,661 of interest income</font>.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">A summary of the litigation reserve is as follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="617" style='width:463.05pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">November 30,</font></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">August 31,</font></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Litigation loss</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Litigation reserve</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">144,103</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">170,819</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Interest expense</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Interest income</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(6,661)</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(26,716)</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Total</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">137,442</font></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">144,103</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">b</font><font lang="EN-GB">) At November 30, 2013 and August 31, 2013 the Company had an un-utilized line-of-credit of $5,000,000 (note 7). The line-of-credit has certain financial covenants. The Company is in compliance with these covenants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-49.5pt;text-align:justify'> </p> </us-gaap:CommitmentsAndContingenciesDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:SegmentReportingDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-left:36.5pt;text-align:justify;text-indent:-36.5pt'><b><font lang="EN-GB">14. SEGMENT INFORMATION </font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'><font lang="EN-GB">The Company has four principal reportable segments. 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. </font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'><font lang="EN-GB">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.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify'>Effective September 1, 2013, the Company reorganized certain of its subsidiaries. The majority of fixed and intangible assets, and certain Corporate and administrative functions<font lang="EN-GB"> which were formerly contained within the “Lawn, garden, pet and other” reporting segment are now classified as “Corporate and administrative.” The segment information for the quarter ended November 30, 2012 has been restated for comparability purposes.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Following is a summary of segmented information for the three month periods ended November 30:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="654" style='width:490.6pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Sales to unaffiliated customers:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 1,457,246</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 2,361,471 </font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">5,443,943</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">4,772,939</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">740,742</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,810,645</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">364,350</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">351,350</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 8,006,281</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 9,296,405</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Income (loss) before income taxes:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ (11,424)</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 62,545 </font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">258,917</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">414,204</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">73,648</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">109,004</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">37,264</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">34,732</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">196,289</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:-.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">168,610</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 554,694</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 789,095</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Identifiable assets:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 1,440,281</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 1,840,340</font></p> </td> </tr> <tr style='height:9.0pt'> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">8,929,943</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">7,029,438</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">196,819</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">727,220</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">616,992</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">609,409</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">11,049,258</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">10,029,664</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 22,233,293</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 20,236,071</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Depreciation and amortization:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 245</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 403</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">10,101</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,352</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,450</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,884</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">1,904</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,426</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">54,319</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">50,429</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 70,019</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 57,494</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Capital expenditures:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">57,918</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">112,133</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 57,918</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 112,133</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Interest expense:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the three months ended November 30:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="630" style='width:472.5pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 3,314,699 </font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 1,926,150</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">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 quarter ended November 30:</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="624" style='width:6.5in;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">United States</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 7,399,773</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 7,680,338</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Canada</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">137,935</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">467,597</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Mexico/Latin America</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">379,032</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">1,097,390</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Europe</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">89,541</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">33,306</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Asia/Pacific</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">17,774</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:-63.0pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">All of the Company’s significant identifiable assets were located in the United States as of November 30, 2013 and 2012.</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> </us-gaap:SegmentReportingDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">15. CONCENTRATIONS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><i><font lang="EN-GB">Credit risk</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with a high quality financial institution. The Company has concentrations of credit risk with respect to accounts receivable as large amounts of its accounts receivable are concentrated geographically in the United States amongst a small number of customers. At November 30, 2013, two customers accounted for accounts receivable greater than 10% of total accounts receivable at </font><font lang="EN-GB">38</font><font lang="EN-GB">%. At November 30, 2012, two customers accounted for accounts receivable greater than 10% of total accounts receivable at </font><font lang="EN-GB">29</font><font lang="EN-GB">%. The Company controls credit risk through credit approvals, credit limits, credit insurance and monitoring procedures. The Company performs credit evaluations of its commercial customers but generally does not require collateral to support accounts receivable.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><i><font lang="EN-GB">Volume of business</font></i></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company has concentrations in the volume of purchases it conducts with its suppliers. For the three months ended November 30, 2013, there were three suppliers that each accounted for greater than 10% of total purchases, and the aggregate purchases amounted to $</font><font lang="EN-GB">2,605,730</font><font lang="EN-GB">. For the three months ended November 30, 2012, there were two suppliers that each accounted for greater than 10% of total purchases, and the aggregate purchases amounted to $</font><font lang="EN-GB">2,250,297</font><font lang="EN-GB">. </font></p> </us-gaap:ConcentrationRiskDisclosureTextBlock> | |||||||||||||||||||||
<us-gaap:CashFlowSupplementalDisclosuresTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">16. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">Certain cash payments for the three months ended November 30 are summarized as follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="628" style='width:470.7pt;border-collapse:collapse'> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="94" valign="top" style='width:70.2pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Cash paid during the periods for:</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB"> Interest</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB"> Income taxes</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">There were no non-cash investing or financing activities during the periods presented.</font></p> </us-gaap:CashFlowSupplementalDisclosuresTextBlock> | |||||||||||||||||||||
<us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Generally accepted accounting principles</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America. </font></p> </us-gaap:BasisOfAccountingPolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Principles of consolidation</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, JC USA, JCC, MSI, JCSC, and Greenwood, all of which are incorporated under the laws of Oregon, U.S.A.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">All inter-company balances and transactions have been eliminated upon consolidation.</font></p> </us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy> | |||||||||||||||||||||
<us-gaap:UseOfEstimates contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><b><font lang="EN-GB">Estimates</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'><font lang="EN-GB">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates incorporated into the Company’s consolidated financial statements include the estimated useful lives for depreciable and amortizable assets, the estimated allowances for doubtful accounts receivable and inventory obsolescence, possible product liability and possible product returns, and litigation contingencies and claims. Actual results could differ from those estimates.</font></p> </us-gaap:UseOfEstimates> | |||||||||||||||||||||
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Cash and cash equivalents</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. At November 30, 2013, cash was $</font><font lang="EN-GB">8,096,072</font><font lang="EN-GB"> compared to $</font><font lang="EN-GB">8,308,445</font><font lang="EN-GB"> at August 31, 2013. At November 30, 2013 and August 31, 2013, there were no cash equivalents.</font></p> </us-gaap:CashAndCashEquivalentsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ReceivablesPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Accounts receivable</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="X-NONE">Trade and other accounts receivable are reported at face value less any provisions for uncollectible accounts considered necessary. Accounts receivable primarily includes trade receivables from customers. The Company estimates doubtful accounts on an item-by-item basis and includes over aged accounts as part of allowance for doubtful accounts, which are generally ones that are ninety days or greater overdue. </font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="X-NONE">The Company extends credit to domestic customers and offers discounts for early payment. When extension of credit is not advisable, the Company relies on either prepayment or a letter of credit.</font></p> </us-gaap:ReceivablesPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:InventoryPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Inventory</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Inventory, which consists primarily of finished goods, is recorded at the lower of cost, based on the average cost method, and market. Market is defined as net realizable value. An allowance for potential non-saleable inventory due to excess stock or obsolescence is based upon a review of inventory components.</font></p> </us-gaap:InventoryPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Property, plant and equipment</font></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in;text-align:justify'><font lang="X-NONE">Property, plant and equipment are recorded at cost less accumulated depreciation. The Company provides for depreciation over the estimated life of each asset on a straight-line basis over the following periods:</font></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <table border="0" cellspacing="0" cellpadding="0" width="696" style='width:7.25in;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, minimum</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, maximum</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Office equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">7</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Warehouse equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">2</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">10</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Buildings</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">30</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> </us-gaap:PropertyPlantAndEquipmentPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:IntangibleAssetsFiniteLivedPolicy contextRef="D130901_131130"> <!--egx--><p><font lang="X-NONE" style='font-style:normal'>Intangibles</font></p> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company’s intangible assets have a finite life and are recorded at cost. The most significant intangible assets are two patents related to gate support systems. Amortization is calculated using the straight-line method over the remaining lives of 51 months and 63 months, respectively, and are reviewed annually for impairment.</p> </us-gaap:IntangibleAssetsFiniteLivedPolicy> | |||||||||||||||||||||
<us-gaap:AssetRetirementObligationsPolicy contextRef="D130901_131130"> <!--egx--><p style='text-align:justify'><font lang="X-NONE" style='font-style:normal'>Asset retirement obligations</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost). The Company does not have any significant asset retirement obligations.</p> </us-gaap:AssetRetirementObligationsPolicy> | |||||||||||||||||||||
<us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Impairment of long-lived assets and long-lived assets to be disposed of</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Currency and foreign exchange</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">These financial statements are expressed in U.S. dollars as the Company's operations are based only in the United States.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company does not have non-monetary or monetary assets and liabilities that are in a currency other than the U.S. dollar. Any income statement transactions in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations.</font></p> </us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Earnings per share</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding in the period. Diluted earnings per common share takes into consideration common shares outstanding (computed under basic earnings per share) and potentially dilutive common shares.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The earnings per share data for the three months ended November 30, 2013 and November 30, 2012 are as follows:</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="627" style='width:469.9pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:9.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2012</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;text-indent:-45.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Net income </font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">332,579</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">480,746</font><font lang="EN-GB"> </font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Basic weighted average number of common shares outstanding</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Effect of dilutive securities</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;text-indent:-.9pt'><font lang="EN-GB">Stock options</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Diluted weighted average number of common shares outstanding </font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:EarningsPerSharePolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Comprehensive income</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company has no items of other comprehensive income in any period presented. Therefore, net income presented in the consolidated statements of operations equals comprehensive income.</font></p> </us-gaap:ComprehensiveIncomePolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Stock-based compensation</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>All stock-based compensation is recognized as an expense in the financial statements and such costs are measured at the fair value of the award. </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>No options were granted during the quarter ended November 30, 2013, and there were no options outstanding on November 30, 2013.</p> </us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy> | |||||||||||||||||||||
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Financial instruments </font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Cash </font></i><font lang="EN-GB">- the carrying amount approximates fair value because the amounts consist of cash held at a bank and cash held in short term investment accounts.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Accounts receivable </font></i><font lang="EN-GB">- the carrying amounts approximate fair value due to the short-term nature and historical collectability.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Notes receivable - </font></i><font lang="EN-GB">the carrying amounts approximate fair value due to the short-term nature of the amount.</font></p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify'><i><font lang="EN-GB">Accounts payable and accrued liabilities </font></i><font lang="EN-GB">- the carrying amount approximates fair value due to the short-term nature of the obligations.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The estimated fair values of the Company's financial instruments as of November 30, 2013 and August 31, 2013 follows:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="612" style='width:459.15pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="151" colspan="2" valign="top" style='width:113.2pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">November 30,</font></b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="152" colspan="2" valign="top" style='width:113.65pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">August 31,</font></b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Carrying</font></b></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Fair</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Carrying</font></b></p> </td> <td width="76" valign="top" style='width:57.05pt;border:none;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Fair</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Amount</font></b></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Value</font></b></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Amount</font></b></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">Value</font></b></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Cash</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$</font><font lang="EN-GB">8,096,072</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$8,096,072</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$</font><font lang="EN-GB">8,308,445</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$8,308,445</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accounts receivable, net of allowance</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,237,734</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,237,734</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,344,777</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,344,777</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Note receivable</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="16" valign="top" style='width:11.8pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">15,000</font></p> </td> <td width="76" valign="top" style='width:57.05pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">15,000</font></p> </td> </tr> <tr align="left"> <td width="294" valign="top" style='width:220.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accounts payable and accrued liabilities</font></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,119,422</font></p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,119,422</font></p> </td> <td width="16" valign="top" style='width:11.8pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="75" valign="top" style='width:56.6pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,865,340</font></p> </td> <td width="76" valign="top" style='width:57.05pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2,865,340</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The following table presents information about the assets that are measured at fair value on a recurring basis as of November 30, 2013, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset:</p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="621" style='width:465.75pt;border-collapse:collapse'> <tr align="left"> <td width="35%" valign="bottom" style='width:35.8%;padding:0'> <p align="center" style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>November 30,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2013</b></p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Quoted Prices</b> <b>in Active</b> <b>Markets</b> <b>(Level 1)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Other</b> <b>Observable</b> <b>Inputs</b> <b>(Level 2)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Unobservable</b> <b>Inputs</b> <b>(Level 3)</b></p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-.25in'>Assets:</p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="8%" valign="bottom" style='width:8.4%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.12%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Cash</p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="8%" valign="bottom" style='width:8.4%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.12%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt'> </p> <p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'>The fair values of cash are determined through market, observable and corroborated sources.</p> <p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> </us-gaap:FairValueOfFinancialInstrumentsPolicy> | |||||||||||||||||||||
<us-gaap:IncomeTaxPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Income taxes</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </us-gaap:IncomeTaxPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:CostOfSalesPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Shipping and handling costs<u> </u></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>The Company incurs certain expenses related to preparing, packaging and shipping its products to its customers, mainly third-party transportation fees. All costs related to these activities are included as a component of cost of goods sold in the consolidated statement of operations. All costs billed to the customer are included as revenue in the consolidated statement of operations.</p> </us-gaap:CostOfSalesPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-GB">Revenue recognition</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">The Company recognizes revenue from the sales of lumber, building supply products, industrial wood products, specialty metal products, and other specialty products and tools, when the products are shipped, title passes, and the ultimate collection is reasonably assured. Revenue from the Company's seed operations is generated from seed processing, handling and storage services provided to seed growers, and by the sales of seed products. Revenue from the provision of these services and products is recognized when the services have been performed, products sold and collection of the amounts is reasonably assured.</font></p> </us-gaap:RevenueRecognitionPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:PriorPeriodReclassificationAdjustmentDescription contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Reclassifications</b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Certain reclassifications have been made to prior years’ financial statements to conform to the classifications used in the current year. These reclassifications include adjustments to reflect the reorganization of the Corporate structure and reporting segments effective September 1, 2013. </p> </us-gaap:PriorPeriodReclassificationAdjustmentDescription> | |||||||||||||||||||||
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b>Recent Accounting Pronouncements </b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>Management has reviewed the new accounting guidance and determined that there is not a material impact on our financial statements.</p> </us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="D130901_131130"> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;margin-left:0in'> </p> <table border="0" cellspacing="0" cellpadding="0" width="696" style='width:7.25in;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, minimum</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Estimated useful life, maximum</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Office equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">7</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Warehouse equipment</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">2</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">10</font></p> </td> </tr> <tr align="left"> <td width="282" valign="top" style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Buildings</font></p> </td> <td width="210" valign="top" style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">5</font></p> </td> <td width="204" valign="top" style='width:153.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><font lang="EN-GB">30</font></p> </td> </tr> </table> </us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives> | |||||||||||||||||||||
<us-gaap:EarningsPerShareTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="627" style='width:469.9pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:63.0pt;text-align:justify;text-indent:9.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2012</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;text-indent:-45.0pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Net income </font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">332,579</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">480,746</font><font lang="EN-GB"> </font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Basic weighted average number of common shares outstanding</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Effect of dilutive securities</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:12.6pt;text-indent:-.9pt'><font lang="EN-GB">Stock options</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">0</font></p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="399" valign="top" style='width:298.9pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-left:40.5pt;text-indent:-40.5pt'><font lang="EN-GB">Diluted weighted average number of common shares outstanding </font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,134,936</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,135,942</font></p> </td> </tr> </table> </us-gaap:EarningsPerShareTextBlock> | |||||||||||||||||||||
<us-gaap:FairValueOptionQuantitativeDisclosuresTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin-top:0in;margin-right:4.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="621" style='width:465.75pt;border-collapse:collapse'> <tr align="left"> <td width="35%" valign="bottom" style='width:35.8%;padding:0'> <p align="center" style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>November 30,</b></p> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>2013</b></p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Quoted Prices</b> <b>in Active</b> <b>Markets</b> <b>(Level 1)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Other</b> <b>Observable</b> <b>Inputs</b> <b>(Level 2)</b></p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:1.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td colspan="2" valign="bottom" style='border:none;border-bottom:solid black 1.0pt;padding:0'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Significant</b> <b>Unobservable</b> <b>Inputs</b> <b>(Level 3)</b></p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;padding:0'> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-.25in'>Assets:</p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.02%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.14%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="8%" valign="bottom" style='width:8.4%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="4%" valign="bottom" style='width:4.06%;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="11%" valign="bottom" style='width:11.12%;border:none;border-top:solid black 1.0pt;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="35%" valign="top" style='width:35.8%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>Cash</p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.02%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.14%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>8,096,072</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.12%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="8%" valign="bottom" style='width:8.4%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> <td width="4%" valign="bottom" style='width:4.06%;background:white;padding:0'> <p style='margin-top:2.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt'> </p> </td> <td width="2%" valign="bottom" style='width:2.02%;background:white;padding:0'> <p style='margin:0in;margin-bottom:.0001pt'>$</p> </td> <td width="11%" valign="bottom" style='width:11.12%;background:white;padding:0'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>—</p> </td> </tr> </table> </us-gaap:FairValueOptionQuantitativeDisclosuresTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="604" style='width:453.35pt;border-collapse:collapse'> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Wood products and metal products</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">7,784,932</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">7,984,678</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Industrial tools</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">527,507</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">482,949</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Agricultural seed products</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">62,312</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">53,364</font></p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="377" valign="top" style='width:282.95pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 8,374,751</p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="101" valign="top" style='width:75.9pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ 8,520,991</p> </td> </tr> </table> </us-gaap:ScheduleOfInventoryCurrentTableTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="636" style='width:477.0pt;margin-left:.9pt;border-collapse:collapse'> <tr align="left"> <td width="408" valign="top" style='width:4.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Office equipment</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">557,456</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">565,575</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Warehouse equipment</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">1,467,602</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">1,431,707</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Buildings</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">2,695,810</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">2,681,989</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Land</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">761,924</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">761,924</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">5,482,792</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">5,441,195</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Accumulated depreciation</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">3,235,458</font><font lang="EN-GB">)</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">3,199,245</font><font lang="EN-GB">)</font></p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="408" valign="top" style='width:4.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Net book value</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">2,247,334</font></p> </td> <td width="18" valign="top" style='width:13.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">2,241,950</font></p> </td> </tr> </table> </us-gaap:PropertyPlantAndEquipmentTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'> </p> <table border="0" cellspacing="0" cellpadding="0" width="630" style='width:472.5pt;margin-left:5.4pt;border-collapse:collapse'> <tr style='height:8.85pt'> <td width="402" valign="top" style='width:301.5pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">November 30,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="20" valign="top" style='width:15.25pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:8.85pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">August 31,</font></b></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Patent</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">850,000</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">850,000</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Other</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">43,655</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">43,655</font></p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">893,655</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">893,655</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Accumulated amortization</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">543,169</font><font lang="EN-GB">)</font></p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(</font><font lang="EN-GB">524,993</font><font lang="EN-GB">)</font></p> </td> </tr> <tr style='height:11.95pt'> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="20" valign="top" style='width:15.25pt;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;padding:0in 5.4pt 0in 5.4pt;height:11.95pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> </tr> <tr style='height:12.6pt'> <td width="402" valign="top" style='width:301.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Net book value</font></p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">350,486</font></p> </td> <td width="20" valign="top" style='width:15.25pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'> </p> </td> <td width="106" valign="top" style='width:79.25pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:2.9pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">368,662</font></p> </td> </tr> </table> </us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock> | |||||||||||||||||||||
<us-gaap:LegalMattersAndContingenciesTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="617" style='width:463.05pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">November 30,</font></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-top:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border-top:double windowtext 1.5pt;border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">August 31,</font></p> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">2013</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Litigation loss</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Litigation reserve</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">144,103</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">170,819</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Interest expense</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Interest income</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(6,661)</font></p> </td> <td width="24" valign="top" style='width:.25in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">(26,716)</font></p> </td> </tr> <tr align="left"> <td width="364" valign="top" style='width:272.85pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Total</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">137,442</font></p> </td> <td width="24" valign="top" style='width:.25in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="122" valign="top" style='width:91.2pt;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">144,103</font></p> </td> </tr> </table> </us-gaap:LegalMattersAndContingenciesTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="654" style='width:490.6pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Sales to unaffiliated customers:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 1,457,246</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 2,361,471 </font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">5,443,943</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">4,772,939</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">740,742</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,810,645</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">364,350</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">351,350</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 8,006,281</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 9,296,405</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Income (loss) before income taxes:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ (11,424)</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 62,545 </font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">258,917</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">414,204</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">73,648</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">109,004</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">37,264</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">34,732</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">196,289</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:-.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">168,610</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 554,694</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 789,095</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Identifiable assets:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 1,440,281</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 1,840,340</font></p> </td> </tr> <tr style='height:9.0pt'> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">8,929,943</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt;height:9.0pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">7,029,438</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">196,819</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">727,220</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">616,992</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">609,409</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">11,049,258</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">10,029,664</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 22,233,293</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 20,236,071</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Depreciation and amortization:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 245</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 403</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">10,101</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,352</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">3,450</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">3,884</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">1,904</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">1,426</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">54,319</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">50,429</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 70,019</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 57,494</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Capital expenditures:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial wood products</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Seed processing and sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Industrial tools and clamps</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">-</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Corporate and administrative</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">57,918</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">112,133</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 57,918</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 112,133</font></p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-GB">Interest expense:</font></b></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="426" valign="top" style='width:319.4pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Lawn, garden, pet and other</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> <td width="18" valign="top" style='width:13.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.6pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ -</font></p> </td> </tr> </table> </us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock> | |||||||||||||||||||||
<fil:ScheduleOfSalesInExcessOfTenPercent contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="630" style='width:472.5pt;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="402" valign="top" style='width:301.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Sales</font></p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 3,314,699 </font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ 1,926,150</font></p> </td> </tr> </table> </fil:ScheduleOfSalesInExcessOfTenPercent> | |||||||||||||||||||||
<us-gaap:ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:-27.0pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="624" style='width:6.5in;margin-left:5.4pt;border-collapse:collapse'> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'> </p> </td> <td width="108" valign="top" style='width:81.0pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">United States</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 7,399,773</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">$ 7,680,338</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Canada</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">137,935</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">467,597</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Mexico/Latin America</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">379,032</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">1,097,390</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Europe</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">89,541</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">33,306</font></p> </td> </tr> <tr align="left"> <td width="396" valign="top" style='width:297.0pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-GB">Asia/Pacific</font></p> </td> <td width="108" valign="top" style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">-</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'> </p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;margin-right:.05in;text-align:right'><font lang="EN-GB">17,774</font></p> </td> </tr> </table> </us-gaap:ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock> | |||||||||||||||||||||
<us-gaap:ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock contextRef="D130901_131130"> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;margin-right:4.5pt;text-align:justify'> </p> <table border="0" cellspacing="0" cellpadding="0" width="628" style='width:470.7pt;border-collapse:collapse'> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2013</font></b></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><b><font lang="EN-GB">2012</font></b></p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="102" valign="top" style='width:76.5pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="94" valign="top" style='width:70.2pt;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB">Cash paid during the periods for:</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'> </p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB"> Interest</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> </tr> <tr align="left"> <td width="414" valign="top" style='width:310.5pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-GB"> Income taxes</font></p> </td> <td width="102" valign="top" style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> <td width="18" valign="top" style='width:13.5pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'> </p> </td> <td width="94" valign="top" style='width:70.2pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'><font lang="EN-GB">$ </font><font lang="EN-GB">0</font></p> </td> </tr> </table> </us-gaap:ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLifeMinimum decimals="INF" contextRef="D130901_131130_PpeByType-Equipment" unitRef="Pure"> 2 </us-gaap:PropertyPlantAndEquipmentUsefulLifeMinimum> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLifeMaximum decimals="INF" contextRef="D130901_131130_PpeByType-Equipment" unitRef="Pure"> 10 </us-gaap:PropertyPlantAndEquipmentUsefulLifeMaximum> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLifeMinimum decimals="INF" contextRef="D130901_131130_PpeByType-Building" unitRef="Pure"> 5 </us-gaap:PropertyPlantAndEquipmentUsefulLifeMinimum> | |||||||||||||||||||||
<us-gaap:PropertyPlantAndEquipmentUsefulLifeMaximum decimals="INF" contextRef="D130901_131130_PpeByType-Building" unitRef="Pure"> 30 </us-gaap:PropertyPlantAndEquipmentUsefulLifeMaximum> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss decimals="INF" contextRef="D130901_131130" unitRef="USD"> 332579 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:NetIncomeLoss decimals="INF" contextRef="D120901_121130" unitRef="USD"> 480746 </us-gaap:NetIncomeLoss> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesIssuedBasic decimals="INF" contextRef="D130901_131130" unitRef="Shares"> 3134936 </us-gaap:WeightedAverageNumberOfSharesIssuedBasic> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfSharesIssuedBasic decimals="INF" contextRef="D120901_121130" unitRef="Shares"> 3135942 </us-gaap:WeightedAverageNumberOfSharesIssuedBasic> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised decimals="INF" contextRef="D130901_131130" unitRef="Shares"> 0 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised decimals="INF" contextRef="D120901_121130" unitRef="Shares"> 0 </us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding decimals="INF" contextRef="D130901_131130" unitRef="Shares"> 3134936 </us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding> | |||||||||||||||||||||
<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding decimals="INF" contextRef="D120901_121130" unitRef="Shares"> 3135942 </us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding> | |||||||||||||||||||||
<us-gaap:Cash decimals="INF" contextRef="I130831" unitRef="USD"> 8308445 </us-gaap:Cash> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent decimals="INF" contextRef="I131130" unitRef="USD"> 2237734 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
<us-gaap:AccountsReceivableNetCurrent decimals="INF" contextRef="I130831" unitRef="USD"> 3344777 </us-gaap:AccountsReceivableNetCurrent> | |||||||||||||||||||||
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<link:footnote xlink:type="resource" xlink:label="footnote_52CF08700" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 3 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF08702" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 4 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF08704" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 5 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF08706" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 13a </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF08708" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 6 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF0870A" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 13 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF0870C" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 8 </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF088FE" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Supplemental disclosure with respect to cash flows Note 16. </link:footnote> | |||||||||||||||||||||
<link:footnote xlink:type="resource" xlink:label="footnote_52CF2BB70" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Note 9 </link:footnote> | |||||||||||||||||||||
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