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Segment and Geographic Information | 12 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment and Geographic Information | NOTE 3 – SEGMENT AND GEOGRAPHIC INFORMATION The Company reports and evaluates financial information for three segments: Advanced Technologies (AT) segment, the Electronics Manufacturing (EM) segment and the Industrial Technology (IT) segment. The AT segment develops smart devices and provides progressive design and development solutions to create impactful experiences for mobile, web, virtual and augmented reality, wearables and television as well as providing cutting edge, mission critical security and video surveillance. The EM segment provides end to end electronic manufacturing services, which includes product design and sustaining engineering services, printed circuit board assembly and production, cabling and wire harnessing, systems integration, comprehensive testing services and completely assembled electronic products. This segment also sells software development services for mobile, web, virtual reality, and PC applications. The IT segment offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers in USA. The segment also sells a complete line of air filtration and environmental control instruments & products to a wide variety of customers in industries such as: chemical, cement, steel, food, construction, mining, & petrochemical worldwide. The following tables summarize the Company’s segment information:
|  | For the year ended |
|  | September 30, |
|  | 2018 |  |  | 2017 |
Revenues form external customers |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | 1,765,106 |  |  | $ | - |
Electronics Manufacturing |  |  | 52,530,983 |  |  |  | 64,058,934 |
Industrial Technology |  |  | 35,640,430 |  |  |  | 56,569,266 |
Total revenues |  | $ | 89,936,519 |  |  | $ | 120,628,200 |
Gross profit |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | 1,118,366 |  |  | $ | - |
Electronics Manufacturing |  |  | 20,143,943 |  |  |  | 23,462,190 |
Industrial Technology |  |  | 10,122,948 |  |  |  | 16,451,362 |
Total gross profit |  | $ | 31,385,257 |  |  | $ | 39,913,552 |
Operating (loss) income |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | (6,529,172 | ) |  | $ | - |
Electronics Manufacturing |  |  | 234,012 |  |  |  | 571,167 |
Industrial Technology |  |  | (4,605,505 | ) |  |  | 4,544,511 |
Total operating (loss) income |  | $ | (10,900,665 | ) |  | $ | 5,115,678 |
Other income (expense) |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | 8,346 |  |  | $ | - |
Electronics Manufacturing |  |  | 567,497 |  |  |  | (187,266 | )
Industrial Technology |  |  | (300,796 | ) |  |  | (422,849 | )
Total other income (expense) |  | $ | 275,047 |  |  | $ | (610,115 | )
Depreciation and Amortization |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | 573,395 |  |  | $ | - |
Electronics Manufacturing |  |  | 1,797,768 |  |  |  | 1,697,547 |
Industrial Technology |  |  | 1,809,957 |  |  |  | 1,444,063 |
Total depreciation and amortization |  | $ | 4,181,120 |  |  | $ | 3,141,610 |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |
Identifiable Assets |  |  |  |  |  |  |  |
Advanced Technologies |  | $ | 5,569,383 |  |  | $ | - |
Electronics Manufacturing |  |  | 25,589,642 |  |  |  | 39,115,299 |
Industrial Technology |  |  | 36,171,589 |  |  |  | 31,066,074 |
Total Assets |  | $ | 67,330,614 |  |  | $ | 70,181,373 |
The Company generates revenue from product sales and services from its subsidiaries located in the United States, Germany, Romania, India, and Hong Kong. Revenue and long-lived asset information for the Company is as follows:
|  | September 30, |  |  | September 30, |
Revenues |  | 2018 |  |  | 2017 |
U.S. Operations |  | $ | 25,304,978 |  |  | $ | 30,550,870 |
Non-U.S. Operations |  |  | 64,631,541 |  |  |  | 90,077,330 |
|  | $ | 89,936,519 |  |  | $ | 120,628,200 |
|  | September 30, |  |  | September 30, |
Long-lived Assets |  | 2018 |  |  | 2017 |
U.S. Operations |  | $ | 6,262,163 |  |  | $ | 6,430,210 |
Non-U.S. Operations |  |  | 21,038,491 |  |  |  | 13,688,101 |
|  | $ | 27,300,654 |  |  | $ | 20,118,311 |

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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 + Details
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