10-Q Filing

JEWETT CAMERON TRADING CO LTD CIK: 885307 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001553350-23-000023`
Period End Date	20221130
Filing Date	20230117
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	jctcf_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 38 Stockholders Equity 14

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`	$800.00K	USD	Point-in-time
Inventory, Net of Allowances, Customer Advances and Progress Billings	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$456.02K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$484.46K	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`	$1.74M	USD	Point-in-time
Accounts receivable, net of allowance of $0 (August 31, 2022 - $0)	`AccountsReceivableNetCurrent`	$5.24M	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 $0 (August 31, 2022 - $0)	`AccountsReceivableNetCurrent`	$7.19M	USD	Point-in-time
Inventory, net of allowance of $456,021 (August 31, 2022 - $800,000) (note 3)	`InventoryNet`	$22.00M	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 $456,021 (August 31, 2022 - $800,000) (note 3)	`InventoryNet`	$20.63M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$624.11K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.11M	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.50M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	3.50M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$208.55K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$208.96K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.63M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.83M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.75M	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$33.09K	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$33.36K	USD	Point-in-time
Deferred tax assets (note 6)	`DeferredIncomeTaxAssetsNet`	$25.00K	USD	Point-in-time
Deferred tax assets (note 6)	`DeferredIncomeTaxAssetsNet`	$45.00K	USD	Point-in-time
Total assets	`Assets`	$34.65M	USD	Point-in-time
Total assets	`Assets`	$34.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$7.00M	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$7.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.62M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.42M	USD	Point-in-time
Capital stock (note 8, 9) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,498,899 common shares (August 31, 2022 3,495,342)	`CommonStockValue`	$825.47K	USD	Point-in-time
Capital stock (note 8, 9) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,498,899 common shares (August 31, 2022 3,495,342)	`CommonStockValue`	$824.63K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$742.59K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$765.05K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$22.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$34.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$34.52M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
SALES	`Revenues`	$12.92M	USD	1 Quarter
SALES	`Revenues`	$12.58M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$9.72M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$10.45M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$2.46M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$2.86M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$826.81K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$988.29K	USD	1 Quarter
Depreciation and amortization (note 4, 5)	`DepreciationAndAmortization`	$111.54K	USD	1 Quarter
Depreciation and amortization (note 4, 5)	`DepreciationAndAmortization`	$69.64K	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$1.87M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$1.93M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.87M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.93M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.80K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-467.18K	USD	1 Quarter
Other income	`OtherIncome`	$3.00K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$20.28K	USD	1 Quarter
Interest expense	`InterestExpense`	$86.55K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$-17.28K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$-86.55K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-484.46K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-93.35K	USD	1 Quarter
Income tax recovery	`IncomeTaxExpenseBenefit`	$-19.59K	USD	1 Quarter
Income tax recovery	`IncomeTaxExpenseBenefit`	$-93.32K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-391.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-73.76K	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.50M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-391.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-73.76K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$111.54K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$69.64K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-39.39K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-23.30K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.89K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-20.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.28M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.95M	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	$2.83M	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	$1.37M	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-488.46K	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-38.48K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$531.51K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-419.81K	USD	1 Quarter
Decrease (increase) in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$102.20K	USD	1 Quarter
Decrease (increase) in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-412.00	USD	1 Quarter
Net cash provided by (used by) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$694.24K	USD	1 Quarter
Net cash provided by (used by) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.36M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$590.38K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.22K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.22K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-590.38K	USD	1 Quarter
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$2.00M	USD	1 Quarter
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$600.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$600.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.00M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$51.13K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.26M	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.24M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$484.46K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.74M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.24M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$484.46K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.74M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$24.04M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$24.09M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.52M	USD	Point-in-time
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$39.39K	USD	1 Quarter
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$23.30K	USD	1 Quarter
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$17.45K	USD	3 Qtrs
Net loss	`ProfitLoss`	$1.56M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-73.76K	USD	1 Quarter
Net loss	`ProfitLoss`	$-391.14K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$24.04M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$24.09M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.52M	USD	Point-in-time

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