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Segment Information

3 Months Ended

Dec. 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
		December 31,
		2020				2019
Revenues from external customers
Advanced Technologies		$	4,672,869			$	7,225,233
Industrial Services			4,163,207				4,994,850
Total revenues		$	8,836,076			$	12,220,083
Gross profit
Advanced Technologies		$	2,346,272			$	3,542,787
Industrial Services			1,659,198				1,805,699
Total gross profit		$	4,005,470			$	5,348,486
Operating loss
Advanced Technologies		$	(1,842,346	)		$	298,479
Industrial Services			(203,605	)			99,011
Total operating loss		$	(2,045,951	)		$	397,490
Other expense
Advanced Technologies		$	367,235			$	(226,815	)
Industrial Services			(25,188	)			(31,382	)
Total other expense		$	342,047			$	(258,197	)
Depreciation and Amortization							(restated)
Advanced Technologies		$	115,832			$	106,549
Industrial Services			244,746				290,127
Total depreciation and amortization		$	360,578			$	396,676

		December 31,				September 30,
		2020				2020
						(restated)
Identifiable Assets
Advanced Technologies		$	34,159,688			$	36,732,018
Industrial Services			14,748,015				15,590,448
Discontinued operations			8,867,821				8,867,821
Total Assets		$	57,775,524			$	61,190,287

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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

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-Publisher FASB
-Name Accounting Standards Codification
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