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v3.23.1

SEGMENT INFORMATION | 6 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 5 – SEGMENT INFORMATION During the first quarter of fiscal year 2023, the Company reorganized its reporting segments to be in line with its current structure. The Company reports and evaluates financial information for three current segments: the Security segment, Industrial Services segment and the Corporate segment. The following tables summarize the Company’s segment information: SCHEDULE OF SEGMENT INFORMATION
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
|  | Three months ended March 31, 2023 |  |  | Six months ended March 31, 2023 |
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 9,913,898 |  |  | $ | 6,159,499 |  |  | $ | - |  |  | $ | 16,073,397 |  |  | $ | 16,918,642 |  |  | $ | 11,124,997 |  |  | $ | - |  |  | $ | 28,043,639 |
Cost of revenues |  |  | 4,791,608 |  |  |  | 3,943,308 |  |  |  | - |  |  |  | 8,734,916 |  |  |  | 8,392,662 |  |  |  | 7,269,881 |  |  |  | - |  |  |  | 15,662,543 |
Gross profit |  | $ | 5,122,290 |  |  | $ | 2,216,191 |  |  | $ | - |  |  | $ | 7,338,481 |  |  | $ | 8,525,980 |  |  | $ | 3,855,116 |  |  | $ | - |  |  | $ | 12,381,096 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales, general, and administrative |  |  | 2,965,659 |  |  |  | 1,336,313 |  |  |  | 807,242 |  |  |  | 5,109,214 |  |  |  | 5,715,088 |  |  |  | 2,525,178 |  |  |  | 1,793,951 |  |  |  | 10,034,217 |
Depreciation and amortization |  |  | 31,543 |  |  |  | 157,385 |  |  |  | 20,125 |  |  |  | 209,053 |  |  |  | 71,203 |  |  |  | 324,906 |  |  |  | 52,279 |  |  |  | 448,388 |
Research and development |  |  | 1,615,341 |  |  |  | - |  |  |  | - |  |  |  | 1,615,341 |  |  |  | 3,445,054 |  |  |  | - |  |  |  | - |  |  |  | 3,445,054 |
Operating income/(loss) |  | $ | 509,747 |  |  | $ | 722,493 |  |  | $ | (827,367 | ) |  | $ | 404,873 |  |  | $ | (705,365 | ) |  | $ | 1,005,032 |  |  | $ | (1,846,230 | ) |  | $ | (1,546,563 | )
Other income/(expense) |  | $ | 337,191 |  |  | $ | (29,866 | ) |  | $ | (1,265,959 | ) |  | $ | (958,634 | ) |  | $ | 224,792 |  |  | $ | (61,426 | ) |  | $ | (2,267,317 | ) |  | $ | (2,103,951 | )
|  | Three months ended March 31, 2022 |  |  | Six months ended March 31, 2022 |
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 6,740,109 |  |  | $ | 5,005,908 |  |  | $ | - |  |  | $ | 11,746,017 |  |  | $ | 11,099,532 |  |  |  | 10,059,880 |  |  | $ | - |  |  | $ | 21,159,412 |
Cost of revenues |  |  | 4,436,346 |  |  |  | 3,539,890 |  |  |  | - |  |  |  | 7,976,236 |  |  |  | 7,003,704 |  |  |  | 7,163,677 |  |  |  | - |  |  |  | 14,167,381 |
Gross profit |  | $ | 2,303,763 |  |  | $ | 1,466,018 |  |  | $ | - |  |  | $ | 3,769,781 |  |  | $ | 4,095,828 |  |  | $ | 2,896,203 |  |  | $ | - |  |  | $ | 6,992,031 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales, general, and administrative |  |  | 2,438,851 |  |  |  | 1,213,788 |  |  |  | 1,123,329 |  |  |  | 4,775,968 |  |  |  | 5,298,815 |  |  |  | 2,624,649 |  |  |  | 2,052,752 |  |  |  | 9,976,216 |
Depreciation and amortization |  |  | 366,929 |  |  |  | 176,490 |  |  |  | 36,702 |  |  |  | 580,121 |  |  |  | 398,707 |  |  |  | 355,713 |  |  |  | 73,404 |  |  |  | 827,824 |
Research and development |  |  | 1,306,862 |  |  |  | - |  |  |  | 1,052 |  |  |  | 1,307,914 |  |  |  | 2,379,760 |  |  |  | - |  |  |  | 1,052 |  |  |  | 2,380,812 |
Operating (loss)/income |  | $ | (1,808,879 | ) |  | $ | 75,740 |  |  | $ | (1,161,083 | ) |  | $ | (2,894,222 | ) |  | $ | (3,981,454 | ) |  | $ | (84,159 | ) |  | $ | (2,127,208 | ) |  | $ | (6,192,821 | )
Other income/(expense) |  | $ | (37,015 | ) |  | $ | (25,741 | ) |  | $ | (1,159,805 | ) |  | $ | (1,222,561 | ) |  | $ | 824,685 |  |  | $ | (76,789 | ) |  | $ | (2,442,723 | ) |  | $ | (1,694,827 | )
|  | 2023 |  |  | 2022 |
|  | March 31, |  |  | September 30, |
|  | 2023 |  |  | 2022 |
Identifiable Assets |  |  |  |  |  |  |  |
Security |  | $ | 17,951,806 |  |  | $ | 15,257,235 |
Industrial Services |  |  | 17,667,808 |  |  |  | 16,658,984 |
Corporate |  |  | 4,784,566 |  |  |  | 9,869,716 |
Discontinued operations |  |  | - |  |  |  | 3,971,693 |
Total Assets |  | $ | 40,404,180 |  |  | $ | 45,757,628 |

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