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Segment Information
 6 Months Ended
Mar. 31, 2020
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     For the six months ended  
    March 31,     March 31,  
    2020     2019     2020     2019  
Revenues from external customers                                
Advanced Technologies     6,186,400       6,927,778     $ 13,411,633     $ 7,395,613  
Industrial Services     5,927,447       4,797,629       10,922,297       10,047,383  
Total revenues     12,113,847       11,725,407     $ 24,333,930     $ 17,442,996  
                                 
Gross profit                                
Advanced Technologies     3,331,799       3,028,005       6,874,586     $ 3,303,475  
Industrial Services     2,014,305       1,778,793       3,820,004       3,690,909  
Total gross profit     5,346,104       4,806,798     $ 10,694,590     $ 6,994,384  
                                 
Operating (loss) income                                
Advanced Technologies     (901,017 )     (2,437,421 )   $ (640,025 )   $ (3,667,729 )
Industrial Services     113,914       (311,586 )     (28,135 )     (497,641 )
Total operating income/(loss)     (787,103 )     (2,749,007 )   $ (668,160 )   $ (4,165,370 )
                                 
Other income (expense)                                
Advanced Technologies     (850,329 )     18     $ (1,072,396 )   $ (391,564 )
Industrial Services     (50,177 )     (510,774 )     (86,307 )     (587,794 )
Total other income (expense)     (900,506 )     (510,756 )   $ (1,158,703 )   $ (979,358 )
                                 
Depreciation and Amortization                                
Advanced Technologies     381,841       -     $ 766,067     $ 536,194  
Industrial Services     371,524       473,029       661,651       104,021  
Total depreciation and amortization     753,365       473,029     $ 1,427,718     $ 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:

 

    For the three months ended     For the six months ended  
    March 31,     March 31,     March 31,     March 31,  
Revenues   2020     2019     2020     2019  
U.S. Operations   $ 11,972,359     $ 11,458,836     $ 24,123,410     $ 17,176,425  
Non-U.S. Operations     141,488       266,571       210,520       266,571  
    $ 12,113,847     $ 11,725,407     $ 24,333,930     $ 17,442,996