JCTC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-14

• During the period ended May 31, 2026, we applied for the refund of invalidated tariffs we paid under the IEEPA. In June 2026, we received approval and payment for our outstanding tariff claims and interest totaling $1,008,810. Of the amount received, $286,274 was recorded as a receivable during Q3 2…

• Since the Supreme Court ruling, the Presidential Administration has announced its intent to levy new sets of tariffs imposed under a different section of the Trade Act which would not fall under the IEEPA. On February 24th, a new temporary 10% global import duty took effect for 150 days. However, im…

• During the third quarter, our operations continued to be hampered by high import tariffs and new inflationary pressures caused by the current conflict in the Middle East. This has negatively affected consumer sentiment and reduced discretionary purchasing. Nevertheless, we have progressed in our goa…

• Our sales for the third quarter decreased by $2,753,006, or 22% compared to the third quarter of fiscal 2025. In the current nine month period, our sales declined by $1,884,280, or 6%, compared to our sales over the same period of fiscal 2025. The largest contributor to the decline in our sales was …

• Our net loss for the third quarter was ($814,330), or ($0.23) per share, and our net loss for the nine months was ($6,007,397), or ($1.71) per share. Several one-time items affected our results in the current third quarter. We received a tariff refund which reduced our cost of goods sold by $286,274…

Text removed vs the prior filing · source: 10-Q · 2026-04-13

• Since the Supreme Court ruling, the Presidential Administration has announced its intent to levy new sets of tariffs imposed under a different section of the Trade Act which would not fall under the IEEPA. On February 24th, a new temporary 10% global import duty took effect for 150 days. However, im…

• During the second quarter, we made important progress toward our goals to refocus on our operational strengths while reducing costs. We successfully sold the majority of our excess lumber inventory and continued to grow our Lifetime Steel Post sales through both our existing accounts and through the…

• Our sales for the second quarter increased by $1,482,259, or 16% over Q2 2025. Our current six-month sales rose by $868,726, or 5%, over the first six months of fiscal 2025. However, approximately $2.5 million of these sales were from the liquidation of certain pet inventory and the sale of our exce…

• In November 2025, we received notice from one of our largest fencing customers that they would be terminating our cedar fencing supply agreement in calendar 2026. We originally entered into a consignment agreement with this customer in 2023 after they lost their primary source of Western Red Cedar f…

• With the customer’s notice they were terminating the consignment agreement, this excess inventory became surplus to our needs. This inventory was not only incurring storage costs and represented a significant drain on our available capital, it also was subject to the potential of weathering or other…