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17. Segment Reporting

9 Months Ended

Jun. 30, 2019

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, 2019 and 2018:

		Three Months Ended June 30,								Nine Months Ended June 30,
		2019				2018				2019				2018
Revenues
Retail and Online		$	23,973,081			$	29,705,192			$	80,365,731			$	82,182,175
Manufacturing			22,913,407				24,773,123				66,357,839				64,460,280
Services			156,774				183,742				488,783				567,594
		$	47,043,262			$	54,662,057			$	147,212,353			$	147,210,049
Gross profit
Retail and Online		$	12,454,788			$	12,141,262			$	38,772,829			$	38,133,949
Manufacturing			6,643,617				6,498,207				18,000,736				16,187,021
Services			147,695				174,749				460,762				539,839
		$	19,246,100			$	18,814,218			$	57,234,327			$	54,860,809
Operating income (loss)
Retail and Online		$	551,318			$	(1,978,657	)		$	183,429			$	2,644,667
Manufacturing			3,111,340				2,703,380				7,303,889				5,710,457
Services			145,911				173,097				458,118				537,447
		$	3,808,569			$	897,820			$	7,945,436			$	8,892,571
Depreciation and amortization
Retail and Online		$	(520,007	)		$	988,169			$	1,150,471			$	2,106,133
Manufacturing			610,448				833,064				1,914,159				2,418,264
Services			–				–				–				–
		$	90,441			$	1,821,233			$	3,064,630			$	4,524,397
Interest expenses
Retail and Online		$	1,205,537			$	2,223,285			$	3,501,533			$	5,594,983
Manufacturing			399,085				487,997				1,291,819				1,406,331
Services			–				–				–				–
		$	1,604,622			$	2,711,282			$	4,793,352			$	7,001,314
Net income before provision for income taxes
Retail and Online		$	(616,767	)		$	(503,861	)		$	(3,221,942	)		$	4,710,315
Manufacturing			2,512,890				2,232,996				7,578,996				4,316,045
Services			145,847				173,097				458,118				537,447
		$	2,041,970			$	1,902,232				4,815,172			$	9,563,807

		As of June 30, 2019				As of September 30, 2018
Total assets
Retail and Online		$	36,225,115			$	88,799,584
Manufacturing			57,095,801				52,915,109
Services			32,369,627				57,703
		$	125,690,543			$	141,772,396
Goodwill and intangible assets
Retail and Online		$	42,334,755			$	43,268,668
Manufacturing			321,963				373,914
Services			–				–
		$	42,656,718			$	43,612,582

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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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