XML 37 R21.htm IDEA: XBRL DOCUMENT
v3.22.2.2

SEGMENTS AND CONCENTRATIONS | 12 Months Ended
--- | ---
Sep. 30, 2022
Segment Reporting [Abstract] |
SEGMENTS AND CONCENTRATIONS | NOTE 15 SEGMENTS AND CONCENTRATIONS Segments The Company has three reportable segments: OEM distribution, retail distribution and design. See Note 2 for more information on the composition and accounting policies of our reportable segments. Our chief operating decision maker (“CODM”) regularly reviews revenue and operating income for each segment to assess financial results and allocate resources. For our OEM and retail distribution segments, we exclude general and administrative and general corporate expenses from their measure of profitability as these expenses are not allocated to the segments and therefore not included in the measure of profitability used by the CODM. For the design segment, general and administrative expenses directly attributable to that segment are included in its measure of profitability as these expenses are included in the measure of its profitability reviewed by the CODM. We do not include intercompany activity in our segment results shown below to be consistent with the information that is presented to the CODM. Segment assets consist of accounts receivable and inventory, which are regularly reviewed by the CODM, as well as goodwill and intangible assets resulting from design segment acquisitions. Information by segment and related reconciliations are shown in tables below:
Segment operating income (loss) |  |  |  |  |  |  |  |
|  | Revenues |
|  | Fiscal 2022 |  |  | Fiscal 2021 |
OEM distribution |  | $ | 18,036,000 |  |  | $ | 19,290,000 |
Retail distribution |  |  | 4,130,000 |  |  |  | 3,183,000 |
Design |  |  | 20,171,000 |  |  |  | 16,549,000 |
Total segment revenues |  | $ | 42,337,000 |  |  | $ | 39,022,000 |
|  | Operating Income/(Loss) |
|  | Fiscal 2022 |  |  | Fiscal 2021 |
OEM distribution |  | $ | 905,000 |  |  | $ | 1,479,000 |
Retail distribution |  |  | (1,809,000 | ) |  |  | (779,000 | )
Design |  |  | 2,148,000 |  |  |  | 603,000 |
Total segment operating income |  |  | 1,244,000 |  |  |  | 1,303,000 |
General corporate expenses |  |  | (2,484,000 | ) |  |  | (2,068,000 | )
Total loss from operations |  |  | (1,240,000 | ) |  |  | (765,000 | )
Other expense/(income), net |  |  | 136,000 |  |  |  | (1,289,000 | )
(Loss)/income before income taxes |  | $ | (1,376,000 | ) |  | $ | 524,000 |
|  | Depreciation and Amortization |
|  | Fiscal 2022 |  |  | Fiscal 2021 |
OEM distribution |  | $ | 8,000 |  |  | $ | 7,000 |
Retail distribution |  |  | – |  |  |  | 1,000 |
Design |  |  | 301,000 |  |  |  | 319,000 |
Total |  | $ | 309,000 |  |  | $ | 327,000 |
Condensed Balance Sheet |  |  |  |  |  |  |  |
|  | Segment Assets |
|  | September 30, |
|  | 2022 |  |  | 2021 |
OEM distribution |  | $ | 4,276,000 |  |  | $ | 5,898,000 |
Retail distribution |  |  | 3,816,000 |  |  |  | 2,178,000 |
Design |  |  | 6,116,000 |  |  |  | 5,824,000 |
Total segment assets |  |  | 14,208,000 |  |  |  | 13,900,000 |
General corporate assets |  |  | 6,731,000 |  |  |  | 5,956,000 |
Total assets |  | $ | 20,939,000 |  |  | $ | 19,856,000 |
Geographic Concentrations The Company’s long-lived assets consist of property and equipment and operating lease right of use assets, all of which are located in the United States. The following table sets forth our consolidated net revenues by country for Fiscal 2022 and Fiscal 2021:
Revenues from External Customers |  |  |  |  |  |  |  |
|  | Revenues |
|  | Fiscal 2022 |  |  | Fiscal 2021 |
United States |  | $ | 29,490,000 |  |  | $ | 25,670,000 |
China |  |  | 5,325,000 |  |  |  | 5,640,000 |
Germany |  |  | 2,976,000 |  |  |  | 2,787,000 |
Poland |  |  | 2,643,000 |  |  |  | 3,111,000 |
Other foreign countries |  |  | 1,903,000 |  |  |  | 1,814,000 |
Total |  | $ | 42,337,000 |  |  | $ | 39,022,000 |
Customer Concentrations In Fiscal 2022 and Fiscal 2021, the Company had certain customers in the OEM distribution segment whose individual percentage of the Company’s consolidated revenues was 10% or greater. Revenues from two of these customers or their affiliates or contract manufacturers represented 23.0% of the Company’s consolidated net revenues in Fiscal 2022 and revenues from three of these customers or their affiliates or contract manufacturers represented 36.8% of the Company’s consolidated net revenues in Fiscal 2021. In Fiscal 2022, the Company had one customer in the design segment whose individual percentage of the Company’s consolidated revenues was 10% or greater. Revenues from this customer represented 10.6% of the Company’s consolidated net revenues in Fiscal 2022. There were no customers in the design segment whose individual percentage of the Company’s consolidated net revenues was 10% or greater in Fiscal 2021. At September 30, 2022 and 2021, the Company had customers in the OEM distribution segment whose accounts receivable balances accounted for 10% or more of the Company’s consolidated accounts receivable. Accounts receivable from two customers or their affiliates or contract manufacturers represented 28.1% of the Company’s consolidated accounts receivable at September 30, 2022 and accounts receivable from three customers or their affiliates or contract manufacturers represented 44.0% of the Company’s consolidated accounts receivable at September 30, 2021. Supplier Concentration The Company’s OEM and retail distribution segments procure substantially all their products through independent suppliers in China through Forward China. Depending on the product, Forward China may require several different suppliers to furnish component parts or pieces.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration