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SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 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:

 

                                 
 Three months ended June 30, 2024   Three months ended June 30, 2023 
   Reportable Segments           Reportable Segments         
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
Revenues  $6,193,487   $8,492,911   $  -    $14,686,398   $9,015,279   $5,714,861   $-   $14,730,140 
Cost of revenues   2,970,396    5,838,855     -     8,809,251    4,610,443    3,639,054    -    8,249,497 
Gross profit  $3,223,091   $2,654,056   $-   $5,877,147   $4,404,836   $2,075,807   $-   $6,480,643 
Operating expenses                                        
Sales, general, and administrative   4,363,645    1,917,206    1,585,878    7,866,729    3,182,509    912,387    1,032,183    5,127,079 
Depreciation and amortization   96,210    229,241    -    325,451    90,630    159,251    -    249,881 
Research and development   864,483    -     -     864,483    1,049,909    -    -    1,049,909 
Operating (loss)/income  $(2,101,247)  $507,609   $(1,585,878)  $(3,179,516)   81,788    1,004,169    (1,032,183)   53,774 
                                         
Other income/(expense)  $(119,813)  $(50,250)  $(5,732,430)  $(5,902,493)  $(282,857)  $(7,281)  $(929,395)  $(1,219,533)

 

                                 
   Nine months ended June 30, 2024   Nine months ended June 30, 2023 
   Reportable Segments               Reportable Segments     
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
Revenues  $23,446,220   $25,277,939   $  -    $48,724,159   $25,933,921   $16,839,858   $-   $42,773,779 
Cost of revenues   11,593,213    17,231,984    -    28,825,197    13,005,314    10,908,935    -    23,914,249 
Gross profit  $11,853,007   $8,045,955   $-   $19,898,962   $12,928,607   $5,930,923   $-   $18,859,530 
Operating expenses                                        
General, and administrative   12,524,869    5,343,738    3,317,055    21,185,662    9,494,634    3,437,565    2,826,134    15,758,333 
Depreciation and amortization   295,622    703,019     -     998,641    161,833    484,157    52,279    698,269 
Research and development   2,664,688    -     -     2,664,688    3,895,717    -    -    3,895,717 
Operating (loss)/income  $(3,632,172)  $1,999,198   $(3,317,055)  $(4,950,029)  $(623,577)  $2,009,201   $(2,878,413)  $(1,492,789)
                                         
Other income/(expense)  $(392,707)  $(236,683)  $(6,226,414)  $(6,855,804)  $(58,065)  $(68,707)  $(3,196,712)  $(3,323,484)

 

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.