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SEGMENT INFORMATION | 6 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 6 – SEGMENT INFORMATION The Company reports and evaluates financial information for two reportable segments: the Security segment and the Industrial Services segment. The following tables summarize the Company’s reportable segment information and unallocated corporate expenses: SCHEDULE OF SEGMENT INFORMATION
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
|  | Three months ended March 31, 2024 |  |  | Three months ended March 31, 2023 |
|  | Reportable Segments |  |  |  |  |  |  |  |  | Reportable Segments |  |  |  |  |  |  |
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 8,084,932 |  |  | $ | 9,074,663 |  |  | $ | - |  |  | $ | 17,159,595 |  |  | $ | 9,913,898 |  |  | $ | 6,159,499 |  |  | $ | - |  |  | $ | 16,073,397 |
Cost of revenues |  |  | 3,971,963 |  |  |  | 6,248,216 |  |  |  | - |  |  |  | 10,220,179 |  |  |  | 4,793,817 |  |  |  | 3,941,099 |  |  |  | - |  |  |  | 8,734,916 |
Gross profit |  | $ | 4,112,969 |  |  | $ | 2,826,447 |  |  | $ | - |  |  | $ | 6,939,416 |  |  | $ | 5,120,081 |  |  | $ | 2,218,400 |  |  | $ | - |  |  | $ | 7,338,481 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales, general, and administrative |  |  | 3,833,596 |  |  |  | 1,897,269 |  |  |  | 984,403 |  |  |  | 6,715,268 |  |  |  | 2,965,659 |  |  |  | 1,336,313 |  |  |  | 807,242 |  |  |  | 5,109,214 |
Depreciation and amortization |  |  | 71,260 |  |  |  | 233,629 |  |  |  | - |  |  |  | 304,889 |  |  |  | 31,543 |  |  |  | 157,385 |  |  |  | 20,125 |  |  |  | 209,053 |
Research and development |  |  | 951,400 |  |  |  | - |  |  |  | - |  |  |  | 951,400 |  |  |  | 1,615,341 |  |  |  | - |  |  |  | - |  |  |  | 1,615,341 |
Operating income/(loss) |  | $ | (743,287 | ) |  | $ | 695,549 |  |  | $ | (984,403 | ) |  | $ | (1,032,141 | ) |  |  | 507,538 |  |  |  | 724,702 |  |  |  | (827,367 | ) |  |  | 404,873 |
Other income/(expense) |  | $ | (138,633 | ) |  | $ | (78,289 | ) |  | $ | (231,117 | ) |  | $ | (448,039 | ) |  | $ | 337,191 |  |  | $ | (29,866 | ) |  | $ | (1,265,959 | ) |  | $ | (958,634 | )
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
|  | Six months ended March 31, 2024 |  |  | Six months ended March 31, 2023 |
|  | Reportable Segments |  |  |  |  |  |  |  |  | Reportable Segments |  |  |  |  |  |  |
|  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |  |  | Security |  |  | Industrial Services |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 17,252,733 |  |  | $ | 16,785,028 |  |  | $ | - |  |  | $ | 34,037,761 |  |  | $ | 16,918,642 |  |  | $ | 11,124,997 |  |  | $ | - |  |  | $ | 28,043,639 |
Cost of revenues |  |  | 8,622,817 |  |  |  | 11,393,129 |  |  |  | - |  |  |  | 20,015,946 |  |  |  | 8,394,871 |  |  |  | 7,267,672 |  |  |  | - |  |  |  | 15,662,543 |
Gross profit |  | $ | 8,629,916 |  |  | $ | 5,391,899 |  |  | $ | - |  |  | $ | 14,021,815 |  |  | $ | 8,523,771 |  |  | $ | 3,857,325 |  |  | $ | - |  |  | $ | 12,381,096 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General, and administrative |  |  | 8,161,224 |  |  |  | 3,426,532 |  |  |  | 1,731,177 |  |  |  | 13,318,933 |  |  |  | 5,715,088 |  |  |  | 2,525,178 |  |  |  | 1,793,951 |  |  |  | 10,034,217 |
Depreciation and amortization |  |  | 199,412 |  |  |  | 473,778 |  |  |  | - |  |  |  | 673,190 |  |  |  | 71,203 |  |  |  | 324,906 |  |  |  | 52,279 |  |  |  | 448,388 |
Research and development |  |  | 1,800,205 |  |  |  | - |  |  |  | - |  |  |  | 1,800,205 |  |  |  | 3,445,054 |  |  |  | - |  |  |  | - |  |  |  | 3,445,054 |
Operating (loss)/income |  | $ | (1,530,925 | ) |  | $ | 1,491,589 |  |  | $ | (1,731,177 | ) |  | $ | (1,770,513 | ) |  | $ | (707,574 | ) |  | $ | 1,007,241 |  |  | $ | (1,846,230 | ) |  | $ | (1,546,563 | )
Other income/(expense) |  | $ | (272,894 | ) |  | $ | (186,433 | ) |  | $ | (493,984 | ) |  | $ | (953,311 | ) |  | $ | 224,792 |  |  | $ | (61,426 | ) |  | $ | (2,267,317 | ) |  | $ | (2,103,951 | )
Unallocated corporate expenses mainly relate to payroll and benefits for corporate officers, investor relation expenses, accounting expenses related audit and taxes, legal expenses related to corporate matters, and interest expense on notes payable.

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