10-Q Filing

JEWETT CAMERON TRADING CO LTD CIK: 885307 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001553350-22-000327`
Period End Date	20220228
Filing Date	20220414
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	jctcf_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 76 Cash Flow Statement 43 Stockholders Equity 15

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable, Allowance for Credit Loss	`AllowanceForDoubtfulAccountsReceivable`	-	USD	Point-in-time
Accounts Receivable, Allowance for Credit Loss	`AllowanceForDoubtfulAccountsReceivable`	-	USD	Point-in-time
Inventory, Net of Allowances, Customer Advances and Progress Billings	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$250.00K	USD	Point-in-time
Inventory, Net of Allowances, Customer Advances and Progress Billings	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$250.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$899.05K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	21.57M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$899.05K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	21.57M	shares	Point-in-time
Accounts receivable, net of allowance of $Nil 0 (August 31, 2021 - $0)	`AccountsReceivableNetCurrent`	$9.14M	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Accounts receivable, net of allowance of $Nil 0 (August 31, 2021 - $0)	`AccountsReceivableNetCurrent`	$7.09M	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Inventory, net of allowance of $250,000 (August 31, 2021 - $250,000) (note 3)	`InventoryNet`	$14.39M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventory, net of allowance of $250,000 (August 31, 2021 - $250,000) (note 3)	`InventoryNet`	$18.63M	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.31M	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.56M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.49M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$252.96K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.49M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$258.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.22M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$3.89M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.64M	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$30.90K	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$33.89K	USD	Point-in-time
Total assets	`Assets`	$29.14M	USD	Point-in-time
Total assets	`Assets`	$36.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.35M	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$3.00M	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$9.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.24M	USD	Point-in-time
Deferred tax liability (note 6)	`DeferredTaxLiabilities`	$116.94K	USD	Point-in-time
Deferred tax liability (note 6)	`DeferredTaxLiabilities`	$125.83K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.36M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.26M	USD	Point-in-time
3,492,842 common shares (August 31, 2021 3,489,161)	`CommonStockValue`	$823.17K	USD	Point-in-time
3,492,842 common shares (August 31, 2021 3,489,161)	`CommonStockValue`	$824.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$725.73K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$687.21K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.24M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.79M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.85M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$29.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$36.16M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
SALES	`Revenues`	$10.46M	USD	1 Quarter
SALES	`Revenues`	$20.78M	USD	2 Qtrs
SALES	`Revenues`	$14.06M	USD	1 Quarter
SALES	`Revenues`	$26.98M	USD	2 Qtrs
COST OF SALES	`CostOfRevenue`	$15.20M	USD	2 Qtrs
COST OF SALES	`CostOfRevenue`	$21.09M	USD	2 Qtrs
COST OF SALES	`CostOfRevenue`	$7.85M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$10.64M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$5.57M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$5.89M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$3.42M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$2.61M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.67M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$684.12K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$895.97K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.59M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$153.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$105.82K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$55.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.07K	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$3.83M	USD	2 Qtrs
Wages and employee benefits	`SalariesAndWages`	$1.72M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$3.32M	USD	2 Qtrs
Wages and employee benefits	`SalariesAndWages`	$1.96M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.73M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$5.01M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.67M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$5.66M	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$696.74K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$560.62K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-63.16K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$229.56K	USD	2 Qtrs
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Other income	`OtherIncome`	$6.00K	USD	2 Qtrs
Other income	`OtherIncome`	$2.00K	USD	1 Quarter
Other income	`OtherIncome`	$5.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$30.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$50.90K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Accrual for legal claim	`AccrualForLegalClaim`	$300.00K	USD	1 Quarter
Accrual for legal claim	`AccrualForLegalClaim`	-	USD	1 Quarter
Accrual for legal claim	`AccrualForLegalClaim`	$300.00K	USD	2 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$-345.90K	USD	2 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$-328.62K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$6.00K	USD	2 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-60.16K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$566.62K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-116.34K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$368.12K	USD	1 Quarter
Income tax (expense) recovery	`IncomeTaxExpenseBenefit`	$4.99K	USD	2 Qtrs
Income tax (expense) recovery	`IncomeTaxExpenseBenefit`	$131.26K	USD	2 Qtrs
Income tax (expense) recovery	`IncomeTaxExpenseBenefit`	$-7.00K	USD	1 Quarter
Income tax (expense) recovery	`IncomeTaxExpenseBenefit`	$98.30K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$269.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.02M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-53.16K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$435.36K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-121.32K	USD	2 Qtrs
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$0.12	USD	2 Qtrs
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$-0.03	USD	2 Qtrs
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$0.12	USD	2 Qtrs
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$-0.03	USD	2 Qtrs
Diluted earnings (loss) per common share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	3.48M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	3.49M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	3.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	3.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	3.48M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$269.82K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$3.02M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-53.16K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$435.36K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-121.32K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$153.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$105.82K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$55.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.07K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-39.39K	USD	2 Qtrs
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.89K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-84.08K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.05M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.18M	USD	2 Qtrs
(Increase) in inventory	`IncreaseDecreaseInInventories`	$4.24M	USD	2 Qtrs
(Increase) in inventory	`IncreaseDecreaseInInventories`	$837.40K	USD	2 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$254.07K	USD	2 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$462.08K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-424.88K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$591.34K	USD	2 Qtrs
(Increase) in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$307.43K	USD	2 Qtrs
(Increase) in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$5.25K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.88M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-389.83K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$519.47K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$908.40K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-519.47K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-908.40K	USD	2 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	-	USD	2 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$6.50M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.50M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-285.26K	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-909.30K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.80M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.89M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$899.05K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.80M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.89M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$899.05K	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
August 31, 2021	`StockholdersEquity`	$19.35M	USD	Point-in-time
August 31, 2021	`StockholdersEquity`	$22.79M	USD	Point-in-time
August 31, 2021	`StockholdersEquity`	$22.87M	USD	Point-in-time
August 31, 2021	`StockholdersEquity`	$19.85M	USD	Point-in-time
Shares issued pursuant to compensation plans (note 11)	`StockIssuedDuringPeriodValueIssuedForServices`	$39.39K	USD	2 Qtrs
Shares issued pursuant to compensation plans (note 11)	`StockIssuedDuringPeriodValueIssuedForServices`	$70.39K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$269.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$3.02M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-53.16K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$435.36K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-121.32K	USD	2 Qtrs
February 28, 2022	`StockholdersEquity`	$19.35M	USD	Point-in-time
February 28, 2022	`StockholdersEquity`	$22.79M	USD	Point-in-time
February 28, 2022	`StockholdersEquity`	$22.87M	USD	Point-in-time
February 28, 2022	`StockholdersEquity`	$19.85M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.