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17. Segment Reporting | 3 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Reporting | The Company operates in three segments which are characterized as: (1) Manufacturing, (2) Retail and Online, and (3) Services. The Manufacturing Segment consists of Marquis Industries, the Retail and Online segment consists of Vintage Stock, ApplianceSmart, Modern Everyday and LiveDeal.com, and the Services segment consists of the directory services business. The following tables summarize segment information for the three months ended December 31, 2017 and 2016:
|  | Three Months Ended December 31, |
|  | 2017 |  |  | 2016 |
|  | (Unaudited) |
Revenues |  |  |  |  |  |  |  |
Retail and Online |  | $ | 21,293,471 |  |  | $ | 14,776,723 |
Manufacturing |  |  | 18,878,535 |  |  |  | 17,187,534 |
Services |  |  | 196,058 |  |  |  | 224,407 |
|  | $ | 40,368,064 |  |  | $ | 32,188,664 |
Gross profit |  |  |  |  |  |  |  |
Retail and Online |  | $ | 11,455,802 |  |  | $ | 8,067,608 |
Manufacturing |  |  | 4,752,568 |  |  |  | 4,363,293 |
Services |  |  | 187,520 |  |  |  | 214,331 |
|  | $ | 16,395,890 |  |  | $ | 12,645,232 |
Operating income |  |  |  |  |  |  |  |
Retail and Online |  | $ | 2,231,476 |  |  | $ | 1,743,967 |
Manufacturing |  |  | 1,502,254 |  |  |  | 1,721,260 |
Services |  |  | 187,058 |  |  |  | 213,841 |
|  | $ | 3,920,788 |  |  | $ | 3,679,068 |
Depreciation and amortization |  |  |  |  |  |  |  |
Retail and Online |  | $ | 677,461 |  |  | $ | 228,431 |
Manufacturing |  |  | 718,444 |  |  |  | 706,616 |
Services |  |  | – |  |  |  | – |
|  | $ | 1,395,905 |  |  | $ | 935,047 |
Interest expense, net |  |  |  |  |  |  |  |
Retail and Online |  | $ | 2,022,407 |  |  | $ | 1,079,306 |
Manufacturing |  |  | 445,905 |  |  |  | 370,170 |
Services |  |  | – |  |  |  | – |
|  | $ | 2,468,312 |  |  | $ | 1,449,476 |
Net income before provision for income taxes |  |  |  |  |  |  |  |
Retail and Online |  | $ | 4,052,595 |  |  | $ | 851,110 |
Manufacturing |  |  | 1,063,393 |  |  |  | 1,206,531 |
Services |  |  | 187,058 |  |  |  | 213,841 |
|  | $ | 5,303,046 |  |  | $ | 2,271,482 |
|  | As of |  |  | As of |
|  | December 31, |  |  | September 30, |
|  | 2017 |  |  | 2017 |
Total assets |  |  |  |  |  |  |  |
Retail and Online |  | $ | 85,459,467 |  |  | $ | 81,703,371 |
Manufacturing |  |  | 46,611,136 |  |  |  | 46,783,429 |
Services |  |  | 85,422 |  |  |  | 107,795 |
|  | $ | 132,156,025 |  |  | $ | 128,594,595 |
Intangible assets and goodwill |  |  |  |  |  |  |  |
Retail and Online |  | $ | 40,574,539 |  |  | $ | 40,778,865 |
Manufacturing |  |  | 365,867 |  |  |  | 373,184 |
Services |  |  | – |  |  |  | – |
|  | $ | 40,940,406 |  |  | $ | 41,152,049 |
Cost of revenue |  |  |  |  |  |  |  |
Retail and Online |  | $ | 9,837,669 |  |  | $ | 6,709,115 |
Manufacturing |  |  | 14,125,967 |  |  |  | 12,824,241 |
Services |  |  | 8,538 |  |  |  | 10,076 |
|  | $ | 23,972,174 |  |  | $ | 19,543,432 |
G&A |  |  |  |  |  |  |  |
Retail and Online |  | $ | 9,011,603 |  |  | $ | 6,063,363 |
Manufacturing |  |  | 1,387,066 |  |  |  | 994,821 |
Services |  |  | 461 |  |  |  | 490 |
|  | $ | 10,399,130 |  |  | $ | 7,058,674 |
Sales and marketing |  |  |  |  |  |  |  |
Retail and Online |  | $ | 212,723 |  |  | $ | 260,278 |
Manufacturing |  |  | 1,863,248 |  |  |  | 1,647,212 |
Services |  |  | 1 |  |  |  | – |
|  | $ | 2,075,972 |  |  | $ | 1,907,490 |
Other income |  |  |  |  |  |  |  |
Retail and Online |  | $ | 3,843,526 |  |  | $ | 186,449 |
Manufacturing |  |  | 7,044 |  |  |  | (144,559 | )
Services |  |  | – |  |  |  | – |
|  | $ | 3,850,570 |  |  | $ | 41,890 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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