Jewett-Cameron Trading pany .(JCTCF)
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Jewett-Cameron Trading pany .(JCTCF) - 2022 Q3 - Quarterly Report
2022-07-14 20:35
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MAY 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ COMMISSION FILE NUMBER 000-19954 JEWETT-CAMERON TRADING COMPANY LTD. (Exact Name of Registrant as Specified in its Charter) BRITISH COLUMBIA NON ...
Jewett-Cameron Trading pany .(JCTCF) - 2022 Q2 - Quarterly Report
2022-04-14 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ COMMISSION FILE NUMBER 000-19954 JEWETT-CAMERON TRADING COMPANY LTD. (Exact Name of Registrant as Specified in its Charter) BRITISH COLUMBI ...
Jewett-Cameron Trading pany .(JCTCF) - 2022 Q1 - Quarterly Report
2022-01-14 22:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (MARK ONE) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 30, 2021 x TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying w ...
Jewett-Cameron Trading pany .(JCTCF) - 2021 Q4 - Annual Report
2021-11-29 21:21
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission File Number: 000-19954 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended AUGUST 31, 2021 ☒ JEWETT-CAMERON TRADING CO LTD (Name of registrant as specified in its charter) Or _________British Columbia, Canada_______ _________00-0000000________ (State or Incorporation or Organization) (IRS Employer ID No.) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...
Jewett-Cameron Trading pany .(JCTCF) - 2021 Q3 - Quarterly Report
2021-07-15 20:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MAY 31, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ COMMISSION FILE NUMBER 000-19954 JEWETT-CAMERON TRADING COMPANY LTD. (Exact Name of Registrant as Specified in its Charter) BRITISH COLUMBIA NON ...
Jewett-Cameron Trading pany .(JCTCF) - 2021 Q2 - Quarterly Report
2021-04-14 20:52
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 32275 N.W. Hillcrest, North Plains, Oregon 97133 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ...
Jewett-Cameron Trading pany .(JCTCF) - 2021 Q1 - Quarterly Report
2021-01-14 21:21
[PART I – FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the quarter ended November 30, 2020, reflect significant sales growth and a return to profitability, supported by strong cash flow from operations [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of November 30, 2020, total assets increased slightly to **$23.45 million**, primarily due to higher cash and cash equivalents, while total liabilities decreased Consolidated Balance Sheet Highlights (in U.S. Dollars) | Account | November 30, 2020 | August 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $5,839,952 | $3,801,037 | | Accounts receivable, net | $4,246,957 | $6,274,426 | | Inventory, net | $9,421,159 | $9,198,146 | | Total current assets | $20,347,941 | $20,309,737 | | Total assets | $23,449,883 | $23,277,961 | | **Liabilities & Equity** | | | | Total current liabilities | $3,292,124 | $3,494,283 | | Total liabilities | $3,613,011 | $3,929,616 | | Total stockholders' equity | $19,836,872 | $19,348,345 | | Total liabilities and stockholders' equity | $23,449,883 | $23,277,961 | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended November 30, 2020, sales increased **46.2%** to **$10.32 million**, leading to a net income of **$488,527** and a significant turnaround in profitability Consolidated Statement of Operations (Three Months Ended) | Metric | November 30, 2020 | November 30, 2019 | | :--- | :--- | :--- | | Sales | $10,316,284 | $7,055,178 | | Gross Profit | $2,962,899 | $2,048,343 | | Income from operations | $623,783 | ($10,874) | | Net income (loss) | $488,527 | ($6,621) | | Basic earnings per common share | $0.14 | ($0.00) | | Diluted earnings per common share | $0.14 | ($0.00) | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to **$2.22 million** for the three months ended November 30, 2020, contributing to a **$2.04 million** increase in the overall cash balance Cash Flow Summary (Three Months Ended) | Category | November 30, 2020 | November 30, 2019 | | :--- | :--- | :--- | | Net cash provided by (used by) operating activities | $2,223,162 | ($654,311) | | Net cash used in investing activities | ($184,247) | ($28,750) | | Net increase (decrease) in cash | $2,038,915 | ($683,061) | | Cash, end of period | $5,839,952 | $8,969,249 | [Notes to the Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes provide details on the company's operations, accounting policies, and financial components, including the impact of COVID-19, PPP loans, and significant customer and supplier concentration risks - The company's business consists of manufacturing and distributing specialty metal products (fencing, pet products), wholesale wood products, industrial wood products, and agricultural seeds, primarily in the United States[26](index=26&type=chunk) - The COVID-19 pandemic increased demand for fencing, pet, and DIY products and shifted sales towards online channels. The company's operations were deemed essential and have continued, but future impacts remain uncertain[27](index=27&type=chunk) - The company received two unsecured PPP loans totaling **$680,707** in May 2020 with a **1%** interest rate and a **2-year** term. The company believes it has used the proceeds for qualifying expenses and can apply for forgiveness[61](index=61&type=chunk)[62](index=62&type=chunk) - For the three months ended Nov 30, 2020, one customer accounted for over **10%** of total sales, with sales of **$4,898,298**[79](index=79&type=chunk) - At November 30, 2020, two customers accounted for **55%** of total accounts receivable. For the quarter, two suppliers accounted for **$4,082,187** of total purchases[82](index=82&type=chunk)[83](index=83&type=chunk) - The company is a defendant in a product liability lawsuit in Pennsylvania concerning personal injuries allegedly caused by a dog escaping from one of its kennel products. The company intends to vigorously defend the lawsuit, and its insurer is covering legal fees[85](index=85&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **46%** sales growth driven by increased demand for DIY and pet products, ongoing investments in infrastructure, and the company's strong liquidity position despite future uncertainties from the pandemic [Results of Operations](index=18&type=section&id=Results%20of%20Operations) First-quarter sales increased **46%** to **$10.3 million**, primarily driven by a **60%** surge in the Lawn, Garden, and Pet segment, contributing to improved overall profitability - Overall sales increased by **$3,261,106** (**46%**) for the three months ended Nov 30, 2020, compared to the prior-year period, primarily due to higher sales from Lawn, Garden, and Pet products[99](index=99&type=chunk) Segment Sales Performance (Three Months Ended Nov 30, 2020 vs 2019) | Segment | Q1 FY2021 Sales | Q1 FY2020 Sales | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Lawn, garden, pet (JCC) | $8,929,636 | $5,577,494 | +$3,352,142 | +60% | | Industrial wood (Greenwood) | $724,752 | $784,868 | -$60,116 | -8% | | Seed processing (JCSC) | $661,896 | $524,595 | +$137,301 | +26% | | Industrial tools (MSI) | $0 | $168,221 | -$168,221 | -100% | - Operating expenses increased by **$279,899**, primarily due to adding additional staff[106](index=106&type=chunk) - The company is undertaking capital projects, including a new ERP system installation, a new Creative Center for product development, and office renovations[96](index=96&type=chunk) [Liquidity and Capital Resources](index=19&type=section&id=Liquidity%20and%20Capital%20Resources) As of November 30, 2020, the company maintained strong liquidity with **$17.1 million** in working capital and a fully available **$3 million** line of credit, supplemented by PPP loan proceeds - Working capital increased to **$17,055,817** as of Nov 30, 2020, from **$16,815,454** at Aug 31, 2020[108](index=108&type=chunk) - The company has an available line of credit of **$3,000,000** with U.S. Bank, with no outstanding balance as of November 30, 2020[110](index=110&type=chunk) - The company received two PPP loans totaling **$680,707**, which it used for employee payroll expenses. It plans to apply for forgiveness[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk) - Subsequent to the quarter end, the company issued **7,999** common shares under its Restricted Share Plan at a deemed price of **$8.80** per share[115](index=115&type=chunk) [Business Risks](index=20&type=section&id=Business%20Risks) Key business risks include potential stock dilution, low trading volume, COVID-19 impacts on supply chains and demand, high customer concentration, reliance on foreign suppliers, and the effects of government tariffs - The COVID-19 pandemic poses risks including supply chain disruptions from third-party manufacturers in China, potential for employee isolation to halt operations, and a potential economic downturn reducing consumer demand[120](index=120&type=chunk)[130](index=130&type=chunk) - The company has high customer concentration, with its top ten customers representing **75%** of total sales for the quarter[124](index=124&type=chunk) - The company's metal products are manufactured in China and are subject to tariffs, which were **25%** as of September 2020. These tariffs could increase product costs and reduce competitiveness[93](index=93&type=chunk)[94](index=94&type=chunk)[126](index=126&type=chunk) - The average daily trading volume of the company's common stock was low at **6,130** shares for the quarter, which could make it difficult for investors to buy or sell shares[119](index=119&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=22&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exposed to interest rate risk on its variable-rate line of credit and foreign currency risk due to significant sourcing from China - The company is exposed to interest rate risk on its line of credit, as the rate fluctuates with the one-month LIBOR rate[133](index=133&type=chunk) - Foreign currency risk exists as the company uses contract manufacturers in China, and currency exchange rates can influence purchasing costs[134](index=134&type=chunk) [Controls and Procedures](index=23&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management concluded that as of the end of the period, the company's disclosure controls and procedures were effective[136](index=136&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[137](index=137&type=chunk) [PART II – OTHER INFORMATION](index=23&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=23&type=section&id=Item%201.%20Legal%20Proceedings) The company is a defendant in a product liability lawsuit in Pennsylvania, with its liability insurer covering legal fees and costs - The company is a named party in a civil action in Pennsylvania concerning a product liability claim for personal injuries[138](index=138&type=chunk) - The company's applicable liability insurer is providing a defense and covering legal fees and costs[138](index=138&type=chunk) [Other Required Disclosures](index=23&type=section&id=Item%202%2C%203%2C%204%2C%205) No disclosure was required for Items 2, 3, 4, and 5, covering unregistered equity sales, defaults, mine safety, and other information - No disclosure was required for Items 2, 3, 4, and 5[140](index=140&type=chunk) [Exhibits](index=23&type=section&id=Item%206.%20Exhibits) The report includes various exhibits filed with the SEC, such as CEO/CFO certifications and XBRL data files - Exhibits filed include CEO/CFO certifications under Sarbanes-Oxley Sections 302 and 906[141](index=141&type=chunk) - The filing includes XBRL Instance Document and related taxonomy files[142](index=142&type=chunk)
Jewett-Cameron Trading pany .(JCTCF) - 2020 Q4 - Annual Report
2020-11-12 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended AUGUST 31, 2020 Or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from _________ to _________________ Commission File Number: 000-19954 JEWETT-CAMERON TRADING COMPANY LTD. (Name of registrant as specified in its charter) _________British Columbia, ...
Jewett-Cameron Trading pany .(JCTCF) - 2020 Q3 - Quarterly Report
2020-07-15 20:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MAY 31, 2020 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________ TO ________ COMMISSION FILE NUMBER 000-19954 JEWETT-CAMERON TRADING COMPANY LTD. (Exact Name of Registrant as Specified in its Charter) BRITISH COLUMBIA NON ...
Jewett-Cameron Trading pany .(JCTCF) - 2020 Q2 - Quarterly Report
2020-04-14 20:31
Sales Performance - For the three months ended February 29, 2020, sales decreased by $235,248 to $7,621,927 from $7,857,175, representing a decrease of 3%[97] - Sales at Jewett-Cameron Company (JCC) were $6,425,339 for the three months ended February 29, 2020, compared to $6,459,228 for the same period in 2019, a slight decrease of $33,889[98] - Sales at Jewett-Cameron Seed Company (JCSC) increased by $109,080, or 33%, to $441,650 compared to $332,570 for the three months ended February 28, 2019[100] - Sales at Greenwood declined by $166,007, or 20%, to $685,123 from $851,130 for the three months ended February 28, 2019[99] - For the six months ended February 29, 2020, sales decreased by $2,246,170, or 13%, to $14,677,105 from $16,923,275 for the same period in 2019[106] - Sales at JCC decreased by $1,449,823, or 11%, to $12,002,833 for the six months ended February 29, 2020 compared to $13,452,656 for the same period in 2019[107] - Sales at Greenwood decreased by $492,827, or 25%, to $1,469,991 for the six months ended February 29, 2020 compared to $1,962,818 for the same period in 2019[108] Financial Metrics - The gross margin for the three months ended February 29, 2020, was 26.3%, compared to 22.4% for the same period in 2019, supported by higher sales of metal and pet products[102] - Gross margin for the six months ended February 29, 2020 was 27.6%, an increase from 24.0% for the same period in 2019[112] - Operating expenses increased by $464,612 to $2,168,275 from $1,703,663 for the three months ended February 28, 2019[103] - Operating expenses for the six months ended February 29, 2020 were $4,227,492, up from $3,533,740 for the same period in 2019[113] - Net loss for the six months ended February 29, 2020 was ($180,884), or ($0.05) per basic and diluted share, compared to net income of $469,323, or $0.11 per basic and diluted share for the same period in 2019[114] Cash and Working Capital - Cash and cash equivalents totaled $3,875,531, a decrease of $5,776,779 from $9,652,310 as of August 31, 2019[115] - As of February 29, 2020, working capital was $13,692,086, down from $17,761,616 as of August 31, 2019, a decrease of $4,069,530[115] - Accounts receivable and inventory represented 66% of current assets and 56% of total assets as of February 29, 2020[117] Strategic Decisions - The company repurchased a total of 490,120 common shares at a price of $7.89 per share, totaling $3,867,046 during the second fiscal quarter[96] - The company decided to exit the industrial tools segment, with the remaining inventory liquidated and the division's closure expected to be completed in the third quarter[90] - The company launched a new compostable dog waste bag, which is fully compostable and has been well-accepted by retailers and consumers[89] Risks and Outlook - The outlook for the remainder of the fiscal year remains uncertain due to the COVID-19 situation, which may reduce overall consumer spending in the typically strong Spring and Summer quarters[92] - The company faces risks related to information technology systems, including cyber security threats, which could negatively impact operations and financial condition[137] - A management assessment of internal controls was completed, with no material weaknesses identified, but future risks remain[138] - The company is exposed to interest rate risk, as changes in U.S. interest rates affect interest income and expense[139] - The company's line of credit interest rate may fluctuate based on economic changes, but no material adverse effect on operations is expected[140] - The company operates primarily in the U.S., with a small amount of business in foreign currencies, which may increase foreign exchange risk as international sales expand[141]