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SEGMENT INFORMATION
 6 Months Ended
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:

 

   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