10-Q Filing

JEWETT CAMERON TRADING CO LTD CIK: 885307 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001553350-22-000607`
Period End Date	20220531
Filing Date	20220714
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	jctcf_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 77 Cash Flow Statement 47 Stockholders Equity 15

Balance Sheet 56 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`	$2.13M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	21.57M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	21.57M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	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
Accounts receivable, net of allowance of $Nil 0 (August 31, 2021 - $0)	`AccountsReceivableNetCurrent`	$8.27M	USD	Point-in-time
Inventory, net of allowance of $250,000 (August 31, 2021 - $250,000) (note 3)	`InventoryNet`	$19.90M	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
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.31M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.26M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.49M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$3.88K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$252.96K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.49M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$32.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.22M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.66M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$3.89M	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$30.90K	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$30.09K	USD	Point-in-time
Total assets	`Assets`	$37.25M	USD	Point-in-time
Total assets	`Assets`	$29.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.79M	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`	$9.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.05M	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`	$12.84M	USD	Point-in-time
Deferred tax liability (note 6)	`DeferredIncomeTaxLiabilities`	$128.50K	USD	Point-in-time
Deferred tax liability (note 6)	`DeferredIncomeTaxLiabilities`	$116.94K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.97M	USD	Point-in-time
Capital stock (note 9, 10) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,492,842 common shares (August 31, 2021 - 3,489,161)	`CommonStockValue`	$824.04K	USD	Point-in-time
Capital stock (note 9, 10) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,492,842 common shares (August 31, 2021 - 3,489,161)	`CommonStockValue`	$823.17K	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`	$22.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.35M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$29.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$37.25M	USD	Point-in-time

Income Statement 77 line items

Line Item	Tag	Value	Unit	Period
SALES	`Revenues`	$47.90M	USD	3 Qtrs
SALES	`Revenues`	$21.62M	USD	1 Quarter
SALES	`Revenues`	$20.92M	USD	1 Quarter
SALES	`Revenues`	$42.40M	USD	3 Qtrs
COST OF SALES	`CostOfRevenue`	$31.24M	USD	3 Qtrs
COST OF SALES	`CostOfRevenue`	$15.57M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$16.04M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$36.66M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$5.35M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$11.16M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$5.58M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$11.24M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$966.30K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.80M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.56M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.13M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$175.17K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$69.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$237.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$83.29K	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$5.96M	USD	3 Qtrs
Wages and employee benefits	`SalariesAndWages`	$2.12M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$1.91M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$5.23M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.94M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$8.99M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$3.33M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$7.96M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.25M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.02M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.20M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.64M	USD	1 Quarter
Other income	`OtherIncome`	$9.00K	USD	3 Qtrs
Other income	`OtherIncome`	$-294.10K	USD	3 Qtrs
Other income	`OtherIncome`	$903.00	USD	1 Quarter
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.28K	USD	3 Qtrs
Interest expense	`InterestExpense`	$47.97K	USD	1 Quarter
Interest expense	`InterestExpense`	$98.87K	USD	3 Qtrs
Interest expense	`InterestExpense`	$9.28K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$687.39K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$687.39K	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$-47.07K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$687.10K	USD	3 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$-392.96K	USD	3 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$681.10K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.97M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$3.89M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.86M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$3.32M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$904.64K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$483.45K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$478.46K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.04M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.85M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$605.11K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	3 Qtrs
Basic earnings per common share	`EarningsPerShareBasic`	$0.82	USD	3 Qtrs
Basic earnings per common share	`EarningsPerShareBasic`	$0.69	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.39	USD	3 Qtrs
Basic earnings per common share	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.39	USD	3 Qtrs
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.69	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.82	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.85M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$605.11K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$175.17K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$69.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$237.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$83.29K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-70.39K	USD	3 Qtrs
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-39.39K	USD	3 Qtrs
Gain on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	-	USD	3 Qtrs
Gain on extinguishment of debt	`ExtinguishmentOfDebtGainLossNetOfTax`	$680.71K	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$11.55K	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$-57.77K	USD	3 Qtrs
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.78M	USD	3 Qtrs
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19M	USD	3 Qtrs
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$-1.43M	USD	3 Qtrs
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$5.51M	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.54M	USD	3 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-48.24K	USD	3 Qtrs
Decrease in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	3 Qtrs
Decrease in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-249.08K	USD	3 Qtrs
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$736.60K	USD	3 Qtrs
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$692.23K	USD	3 Qtrs
Increase in income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$189.59K	USD	3 Qtrs
Increase in income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.61M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.04M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.02M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.02M	USD	3 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$996.01K	USD	3 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$6.00M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$996.01K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.00M	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.63M	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$946.14K	USD	3 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.13M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.17M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.80M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.13M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.17M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.80M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$24.29M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.27M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$19.35M	USD	Point-in-time
Shares issued pursuant to compensation plans (note 10)	`StockIssuedDuringPeriodValueIssuedForServices`	$70.39K	USD	3 Qtrs
Shares issued pursuant to compensation plans (note 10)	`StockIssuedDuringPeriodValueIssuedForServices`	$39.39K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.85M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$605.11K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	3 Qtrs
Ending balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$24.29M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.27M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$19.35M	USD	Point-in-time

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