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5. SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 5 SEGMENT INFORMATION

 

The Company, post IPS acquisition, conducts its business through two operating segments, which are also its reportable segments:

 

• Distribution and

 

• Design

 

 

    For the Three Months Ended
June 30,		     For the Nine Months Ended
June 30,		  
    2020     2019     2020     2019  
Revenues, net                                
Distribution   $ 6,388,740     $ 6,021,843     $ 15,708,878     $ 17,072,127  
Design     3,159,992       3,887,609       10,164,085       11,193,075  
Total revenues, net     9,548,732       9,909,452       25,872,963       28,265,202  
                                 
Cost of sales                                
Distribution     5,450,199       5,100,314       13,606,381       14,412,632  
Design     2,323,745       2,914,684       7,318,636       9,344,230  
Total cost of sales     7,773,944       8,014,998       20,925,017       23,756,862  
                                 
(Loss) / income from operations                                
Distribution     (228,100 )     (269,520 )     (1,032,496 )     (880,307 )
Design     53,194       219,653       (838,236 )     (725,148 )
Total loss from operations     (174,906 )     (49,867 )     (1,870,732 )     (1,605,455 )
                                 
Other (expense) / income, net                                
Distribution     (35,148 )     (33,980 )     238,534       (105,738 )
Design     (5,148 )     (20,215 )     (36,275 )     (54,301 )
Total other (expense) / income, net     (40,296 )     (54,195 )     202,259       (160,039 )
                                 
Net (loss) / income                                
Distribution     (263,248 )     (303,500 )     (793,962 )     (986,045 )
Design     48,046       199,438       (874,511 )     (779,449 )
Total net loss   $ (215,202 )   $ (104,062 )   $ (1,668,473 )   $ (1,765,494 )

 

The following table presents total assets by operating segment:

 

    June 30,     September 30,  
    2020     2019  
             
Distribution   $ 8,433,756     $ 9,554,465  
Design     10,206,488       6,539,887  
Total assets   $ 18,640,244     $ 16,094,352