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SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 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 nine months ended  
   June 30,   June 30,  
   2021   2020   2021   2020 
Revenues from external customers                    
Advanced Technologies  $5,845,958   $4,977,424   $16,006,241   $18,389,057 
Industrial Services  $4,480,473    3,463,443    12,416,651    14,385,740 
Total revenues  $10,326,431   $8,440,867   $28,422,892   $32,774,797 
                     
Gross profit                    
Advanced Technologies  $2,693,677   $1,837,957   $7,686,875   $8,712,543 
Industrial Services   1,434,039    1,441,895    4,375,195    5,261,899 
Total gross profit  $4,127,716   $3,279,852   $12,062,070   $13,974,442 
                     
Operating loss        (restated)          (restated) 
Advanced Technologies  $(1,650,221)  $(1,595,405)  $(5,185,944)  $(1,686,680)
Industrial Services   (650,048)   (804,397)   (1,122,874)   (832,532)
Total operating loss  $(2,300,269)  $(2,399,802)  $(6,308,818)  $(2,519,212)
                     
Other income/(expense)                    
Advanced Technologies  $4,955,782   $(1,795,637)  $5,666,112   $(2,868,033)
Industrial Services   (1,487,133)   (28,330)   2,649,617    (114,637)
Total other expense  $3,468,649   $(1,823,967)  $8,315,729   $(2,982,670)
                     
Depreciation and Amortization        (restated)         (restated) 
Advanced Technologies  $103,177   $114,151   $308,755   $212,088 
Industrial Services   189,005    358,128    663,431    1,139,159 
Total depreciation and amortization  $292,182   $472,279   $972,186   $1,351,247 

 

      September 30, 
   June 30,   2020 
   2020   (restated) 
Identifiable Assets          
Advanced Technologies  $31,726,862   $36,732,018 
Industrial Services   17,640,536    15,590,448 
Discontinued operations   8,867,821    8,867,821 
Total Assets  $58,235,219   $61,190,287