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17. Segment Reporting

9 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

Note 17:        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 and nine months ended June 30, 2018 and 2017:

		Three Months Ended June 30,								Nine Months Ended June 30,
		2018				2017				2018				2017
Revenues
Retail and Online		$	29,705,192			$	19,267,959			$	82,182,175			$	54,020,215
Manufacturing			24,773,123				21,898,645				64,460,280				57,429,871
Services			183,742				210,889				567,594				652,496
		$	54,662,057			$	41,377,493			$	147,210,049			$	112,102,582
Gross profit
Retail and Online		$	12,141,262			$	10,953,602			$	38,133,949			$	30,105,864
Manufacturing			6,498,207				5,839,412				16,187,021				15,388,787
Services			174,749				200,883				539,839				619,848
		$	18,814,218			$	16,993,897			$	54,860,809			$	46,114,499
Operating income (loss)
Retail and Online		$	(1,978,657	)		$	2,268,438			$	2,644,667			$	6,547,564
Manufacturing			2,703,380				2,915,516				5,710,457				7,168,164
Services			173,097				199,173				537,447				617,324
		$	897,820			$	5,383,127			$	8,892,571			$	14,333,052
Depreciation and amortization
Retail and Online		$	988,169			$	329,416			$	2,106,133			$	884,522
Manufacturing			833,064				760,125				2,418,264				2,228,264
Services			–				–				–				–
		$	1,821,233			$	1,089,541			$	4,524,397			$	3,112,786
Interest expenses
Retail and Online		$	2,223,285			$	1,600,589			$	5,594,983			$	4,283,015
Manufacturing			487,997				527,201				1,406,331				1,329,304
Services			–				–				–				–
		$	2,711,282			$	2,127,790			$	7,001,314			$	5,612,319
Net income before provision for income taxes
Retail and Online		$	(503,861	)		$	797,504			$	4,710,315			$	2,842,206
Manufacturing			2,232,996				2,175,749				4,316,045				5,363,455
Services			173,097				294,736				537,447				712,886
		$	1,902,232			$	3,267,989			$	9,563,807			$	8,918,547

		As of June 30, 2018				As of September 30, 2017
Total assets
Retail and Online		$	88,761,358			$	81,703,371
Manufacturing			52,942,685				46,783,429
Services			101,379				107,795
		$	141,805,422			$	128,594,595
Goodwill and intangible assets
Retail and Online		$	43,612,119			$	40,778,865
Manufacturing			351,233				373,184
Services			–				–
		$	43,963,352			$	41,152,049

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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