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Segment Information

3 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

NOTE 4 – SEGMENT 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 three months ended
		December 31,
		2019				2018
Revenues from external customers
Advanced Technologies		$	7,225,233			$	467,835
Industrial Services			4,994,850				5,249,754
Total revenues		$	12,220,083			$	5,717,589
Gross profit
Advanced Technologies			3,542,787			$	275,470
Industrial Services			1,805,699				1,912,116
Total gross profit		$	5,348,486			$	2,187,586
Operating (loss) income
Advanced Technologies		$	19,932			$	(1,230,308	)
Industrial Services			99,011				(296,184	)
Total operating income/(loss)		$	118,943			$	(1,526,492	)
Other income (expense)
Advanced Technologies		$	(226,815	)		$	(391,564	)
Industrial Services			(31,382	)			(77,038	)
Total other income (expense)		$	(258,197	)		$	(468,602	)
Depreciation and Amortization
Advanced Technologies		$	384,226			$	536,194
Industrial Services			290,127				104,021
Total depreciation and amortization		$	674,353			$	640,215

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

		December 31,				December 31,
Revenues		2019				2018
U.S. Operations		$	11,293,075			$	5,717,589
Non-U.S. Operations			927,008				-
		$	12,220,083			$	5,717,589

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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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