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Segment Information
 6 Months Ended
Mar. 31, 2021
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: manufacturing, 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,  
    2021     2020     2021     2020  
Revenues from external customers                                
Advanced Technologies   $ 5,487,414     $ 6,186,400     $ 10,160,283     $ 13,411,633  
Industrial Services   $ 3,772,971       5,927,447       7,936,178       10,922,297  
Total revenues   $ 9,260,385     $ 12,113,847     $ 18,096,461     $ 24,333,930  
                                 
Gross profit                                
Advanced Technologies   $ 2,646,926     $ 3,331,799     $ 4,993,198     $ 6,874,586  
Industrial Services     1,281,958       2,014,305       2,941,156       3,820,004  
Total gross profit   $ 3,928,884     $ 5,346,104     $ 7,934,354     $ 10,694,590  
                                 
Operating loss                                
Advanced Technologies   $ (1,693,377 )   $ (630,814 )   $ (3,535,723 )   $ (91,275 )
Industrial Services     (269,221 )     113,914       (472,826 )     (28,135 )
Total operating loss   $ (1,962,598 )   $ (516,900 )   $ (4,008,549 )   $ (119,410 )
                                 
Other income/(expense)                                
Advanced Technologies   $ 3,497,148     $ (850,329 )   $ 3,864,383     $ (1,072,396 )
Industrial Services     735,518       (50,177 )     710,330       (86,307 )
Total other expense   $ 4,232,666     $ (900,506 )   $ 4,574,713     $ (1,158,703 )
                                 
Depreciation and Amortization             (restated)               (restated)  
Advanced Technologies   $ 89,746     $ 111,638     $ 205,578     $ 226,740  
Industrial Services     229,680       371,524       474,426       661,651  
Total depreciation and amortization   $ 319,426     $ 483,162     $ 680,004     $ 888,391  

 

    March 31,     September 30,  
    2020     2020  
          (restated)  
Identifiable Assets                
Advanced Technologies   $ 32,297,470     $ 36,732,018  
Industrial Services     18,025,093       15,590,448  
Discontinued operations     8,867,821       8,867,821  
Total Assets   $ 59,190,384     $ 61,190,287