10-Q Filing

JEWETT CAMERON TRADING CO LTD CIK: 885307 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001553350-23-000265`
Period End Date	20230228
Filing Date	20230413
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	jctcf_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 76 Cash Flow Statement 42 Stockholders Equity 14

Balance Sheet 54 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`	$449.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$268.39K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	21.57M	shares	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, 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
Accounts receivable, net of allowance of $0 (August 31, 2022 - $0)	`AccountsReceivableNetCurrent`	$4.26M	USD	Point-in-time
Inventory, net of allowance of $449,707 (August 31, 2022 - $800,000) (note 3)	`InventoryNet`	$20.63M	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 $449,707 (August 31, 2022 - $800,000) (note 3)	`InventoryNet`	$23.08M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.11M	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$794.57K	USD	Point-in-time
Preferred Stock, No Par Value	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$208.14K	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`	$208.96K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.63M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.93M	USD	Point-in-time
Property, plant and equipment, net (note 4)	`PropertyPlantAndEquipmentNet`	$4.83M	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$33.36K	USD	Point-in-time
Intangible assets, net (note 5)	`IntangibleAssetsNetExcludingGoodwill`	$32.82K	USD	Point-in-time
Deferred tax assets (note 6)	`DeferredIncomeTaxAssetsNet`	$25.00K	USD	Point-in-time
Deferred tax assets (note 6)	`DeferredIncomeTaxAssetsNet`	$397.99K	USD	Point-in-time
Total assets	`Assets`	$33.97M	USD	Point-in-time
Total assets	`Assets`	$34.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$710.17K	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$8.50M	USD	Point-in-time
Bank indebtedness (note 7)	`NotesPayable`	$7.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.86M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.90M	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`	$765.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$742.59K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.53M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.48M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$24.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$23.07M	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 liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$34.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.97M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
SALES	`Revenues`	$26.98M	USD	2 Qtrs
SALES	`Revenues`	$20.72M	USD	2 Qtrs
SALES	`Revenues`	$14.06M	USD	1 Quarter
SALES	`Revenues`	$8.14M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$6.22M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$10.64M	USD	1 Quarter
COST OF SALES	`CostOfRevenue`	$15.94M	USD	2 Qtrs
COST OF SALES	`CostOfRevenue`	$21.09M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$3.42M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$1.92M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$4.78M	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$5.89M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.67M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.92M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$684.12K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$153.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$84.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$199.62K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$88.08K	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$3.83M	USD	2 Qtrs
Wages and employee benefits	`SalariesAndWages`	$1.96M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$1.95M	USD	1 Quarter
Wages and employee benefits	`SalariesAndWages`	$3.87M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.73M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.13M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$5.66M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$6.00M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$229.56K	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$-1.22M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$696.74K	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	$2.00K	USD	1 Quarter
Other income	`OtherIncome`	$5.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$50.90K	USD	2 Qtrs
Interest expense	`InterestExpense`	$201.08K	USD	2 Qtrs
Interest expense	`InterestExpense`	$30.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$114.53K	USD	1 Quarter
Accrual for legal claim	`AccrualForLegalClaim`	$300.00K	USD	1 Quarter
Accrual for legal claim	`AccrualForLegalClaim`	$300.00K	USD	2 Qtrs
Accrual for legal claim	`AccrualForLegalClaim`	-	USD	1 Quarter
Accrual for legal claim	`AccrualForLegalClaim`	-	USD	2 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$-328.62K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$-345.90K	USD	2 Qtrs
Total other items	`OtherNonoperatingIncomeExpense`	$-114.53K	USD	1 Quarter
Total other items	`OtherNonoperatingIncomeExpense`	$-201.08K	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.32M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-116.34K	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.42M	USD	2 Qtrs
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$368.12K	USD	1 Quarter
Income tax recovery (expense)	`IncomeTaxExpenseBenefit`	$4.99K	USD	2 Qtrs
Income tax recovery (expense)	`IncomeTaxExpenseBenefit`	$98.30K	USD	1 Quarter
Income tax recovery (expense)	`IncomeTaxExpenseBenefit`	$-372.17K	USD	2 Qtrs
Income tax recovery (expense)	`IncomeTaxExpenseBenefit`	$-352.58K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-972.04K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.05M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-121.32K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$269.82K	USD	1 Quarter
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$-0.28	USD	1 Quarter
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$-0.03	USD	2 Qtrs
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$-0.30	USD	2 Qtrs
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$-0.30	USD	2 Qtrs
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$-0.28	USD	1 Quarter
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$-0.03	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.49M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.50M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.50M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.49M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-972.04K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.05M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-121.32K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$269.82K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$153.71K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$84.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$199.62K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$88.08K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-39.39K	USD	2 Qtrs
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-23.30K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-372.99K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.89K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.05M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.93M	USD	2 Qtrs
Increase in inventory	`IncreaseDecreaseInInventories`	$4.24M	USD	2 Qtrs
Increase in inventory	`IncreaseDecreaseInInventories`	$2.45M	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$254.07K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-318.01K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$591.34K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.02M	USD	2 Qtrs
Decrease (increase) in prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-825.00	USD	2 Qtrs
Decrease (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`	$-1.41M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$908.40K	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$301.68K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-301.68K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-908.40K	USD	2 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$6.50M	USD	2 Qtrs
Proceeds from bank indebtedness	`ProceedsFromBankDebt`	$1.50M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.50M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.50M	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-216.07K	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-285.26K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$484.46K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$899.05K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$268.39K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.18M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$484.46K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$899.05K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$268.39K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$24.09M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$23.07M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.79M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$17.45K	USD	2 Qtrs
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$39.39K	USD	2 Qtrs
Shares issued pursuant to compensation plans (note 9)	`StockIssuedDuringPeriodValueIssuedForServices`	$23.30K	USD	2 Qtrs
Net loss	`ProfitLoss`	$1.29M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-121.32K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.05M	USD	2 Qtrs
Ending balance, value	`StockholdersEquity`	$24.09M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$23.07M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.79M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$22.87M	USD	Point-in-time

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