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Segment and Geographic Information

12 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment and Geographic Information

NOTE 5 – SEGMENT AND GEOGRAPHIC INFORMATION

The Company reports and evaluates financial information for two segments: Advanced Technologies (AT) segment, and the Industrial Services (IS) 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 IS segment offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers in USA in industries such as: chemical, steel, printing, construction, & petrochemical.

The following tables summarize the Company’s segment information:

		For the years ended
		September 30,
		2019				2018
Revenues from external customers
Advanced Technologies		$	19,268,687			$	1,765,106
Industrial Services			19,996,354				20,876,311
Total revenues		$	39,265,041			$	22,641,417
Gross profit
Advanced Technologies		$	8,296,186			$	1,118,366
Industrial Services			7,266,488				7,097,588
Total gross profit		$	15,562,674			$	8,215,954
Operating (loss) income
Advanced Technologies		$	(5,633,572	)		$	(8,704,278	)
Industrial Services			(1,813,778	)			(3,875,030	)
Total operating loss		$	(7,447,350	)		$	(12,579,308	)
Other income (expense)
Advanced Technologies		$	(4,441,385	)		$	8,346
Industrial Services			(406,826	)			(132,197	)
Total other income (expense)		$	(4,848,211	)		$	(123,851	)
Depreciation and Amortization
Advanced Technologies		$	1,350,079			$	573,395
Industrial Services			1,663,907				1,425,578
Total depreciation and amortization		$	3,013,986			$	1,998,973

		September 30, 2019				September 30, 2018
Identifiable Assets
Advanced Technologies		$	14,872,708			$	5,569,383
Industrial Services			29,519,989				34,119,742
Discontinued operations			-			$	25,589,642
Total Assets		$	44,392,697			$	65,278,767

The Company generates revenue from product sales and services from its subsidiaries located in the United States, The United Kingdom, India, and Hong Kong. Revenue and long-lived asset information for the Company is as follows:

Revenues		September 30, 2019				September 30, 2018
U.S. Operations		$	35,320,625			$	22,267,693
Non-U.S. Operations			3,944,416				373,724
		$	39,265,041			$	22,641,417

Long-lived Assets		September 30, 2019				September 30, 2018
U.S. Operations		$	5,395,353			$	6,262,163
Non-U.S. Operations			11,381,199				21,038,491
		$	16,776,552			$	27,300,654

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- References

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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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