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SEGMENTS AND CONCENTRATIONS | 3 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENTS AND CONCENTRATIONS |
NOTE 5 | SEGMENTS AND CONCENTRATIONS
The Company has two reportable segments: OEM distribution and design. 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 distribution segment, we exclude general and administrative and general corporate expenses from its 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:
Schedule of segment and related reconciliations |  |  |  |  |  |  |  |
|  | For the Three Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Revenues: |  |  |  |  |  |  |  |
OEM distribution |  | $ | 1,991,000 |  |  | $ | 2,010,000 |
Design |  |  | 4,625,000 |  |  |  | 5,142,000 |
Total segment revenues |  | $ | 6,616,000 |  |  | $ | 7,152,000 |
Operating income / (loss): |  |  |  |  |  |  |  |
OEM distribution |  | $ | 223,000 |  |  | $ | 41,000 |
Design |  |  | (260,000 | ) |  |  | 266,000 |
Total segment operating (loss)/income |  |  | (37,000 | ) |  |  | 307,000 |
General corporate expenses |  |  | (671,000 | ) |  |  | (687,000 | )
Operating loss from continuing operations before income taxes |  |  | (708,000 | ) |  |  | (380,000 | )
Other expense / (income), net |  |  | – |  |  |  | 1,000 |
Loss from continuing operations before income taxes |  | $ | (708,000 | ) |  | $ | (381,000 | )
Depreciation and amortization: |  |  |  |  |  |  |  |
OEM distribution |  | $ | – |  |  | $ | 1,000 |
Design |  |  | 84,000 |  |  |  | 80,000 |
Total depreciation and amortization |  | $ | 84,000 |  |  | $ | 81,000 |
Schedule of segment assets |  |  |  |  |  |  |  |
|  | December 31, 2024 |  |  | September 30, 2024 |
Segment Assets: |  |  |  |  |  |  |  |
OEM distribution |  | $ | 2,230,000 |  |  | $ | 2,614,000 |
Design |  |  | 5,346,000 |  |  |  | 5,820,000 |
Total segment assets |  |  | 7,576,000 |  |  |  | 8,434,000 |
General corporate assets |  |  | 5,916,000 |  |  |  | 6,334,000 |
Total assets |  | $ | 13,492,000 |  |  | $ | 14,768,000 |
The Company had certain customers whose individual percentage of the Company’s consolidated revenues and accounts receivable was 10% or greater. Revenues from one customer in the design segment represented 22.6% and 27.5% of the Company’s consolidated net revenues for the three months ended December 31, 2024 and 2023, respectively. There were no customers in the OEM distribution segment whose individual percentage of the Company’s consolidated revenues was 10% or greater during the three months ended December 31, 2024 or 2023. Accounts receivable from three customers in the design segment represented 40.2% of the Company’s consolidated accounts receivable at December 31, 2024 and accounts receivable from one customer in the design segment represented 19.0% of the Company’s consolidated accounts receivable at September 30, 2024. One customer in the OEM segment, or its affiliates or contract manufacturers, represented 11.4% and 14.5% of the Company’s consolidated accounts receivable at December 31, 2024 and September 30, 2024, respectively. In December 2024, our largest design customer notified us of its plan to discontinue their insulin patch pump program, on which we were working. The Company expects this to cause a material decrease in design segment revenues beginning in the second quarter of Fiscal 2025.

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- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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