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SEGMENT INFORMATION
 6 Months Ended
Mar. 31, 2022
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:

 

   2022   2021   2022   2021 
   For the three months ended   For the six months ended 
   March 31,   March 31, 
   2022   2021   2022   2021 
Revenues from external customers                    
Advanced Technologies  $7,722,307   $5,487,414   $13,340,824   $10,160,283 
Industrial Services  $5,005,908    3,772,971    10,059,880    7,936,178 
Total revenues  $12,728,215   $9,260,385   $23,400,704   $18,096,461 
                     
Gross profit                    
Advanced Technologies  $2,586,593   $2,646,926   $5,025,602   $4,993,198 
Industrial Services   1,466,018    1,281,958    2,896,203    2,941,156 
Total gross profit  $4,052,611   $3,928,884   $7,921,805   $7,934,354 
                     
Operating income/(loss)                    
Advanced Technologies  $(4,810,095)  $(1,693,377)  $(9,826,559)  $(3,535,723)
Industrial Services   990,758    (269,221)   1,952,699    (472,826)
Total operating loss  $(3,819,337)  $(1,962,598)  $(7,873,860)  $(4,008,549)
                     
Other income/(expense)                    
Advanced Technologies  $(963,668)  $3,769,515   $(1,387,920)  $4,136,750 
Industrial Services   (18,918)   735,518    (69,966)   710,330 
Total other expense  $(982,586)  $4,505,033   $(1,457,886)  $4,847,080 
                     
Depreciation and Amortization                    
Advanced Technologies  $423,360   $89,746   $506,970   $205,578 
Industrial Services   176,490    229,680    355,713    474,426 
Total depreciation and amortization  $599,850   $319,426   $862,683   $680,004 

 

   March 31,   September 30, 
   2022   2021 
Identifiable Assets          
Advanced Technologies  $33,772,905   $33,850,496 
Industrial Services   17,975,092    19,089,392 
Total Assets  $51,747,997   $52,939,888