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SEGMENT INFORMATION
 3 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 5 – SEGMENT INFORMATION

 

The Company reports and evaluates financial information for two reportable segments: the Security segment and the Industrial Services segment. The Chief Operating Decision Maker (“CODM”) for all segments is Saagar Govil, the CEO of the Company.

 

The following tables summarize the Company’s reportable segment information and unallocated corporate expenses:

 

    Security     Industrial Services     Corporate     Consolidated     Security     Industrial Services     Corporate     Consolidated  
    For the three months ended December 31, 2024     For the three months ended December 31, 2023  
    Reportable Segments                 Reportable Segments              
    Security     Industrial Services     Corporate     Consolidated     Security     Industrial Services     Corporate     Consolidated  
External revenues   $ 5,453,699     $ 8,286,200     $ -     $ 13,739,899     $ 9,167,801     $ 7,710,365     $ -     $ 16,878,166  
Cost of revenues     2,613,940       5,424,023       -       8,037,963       4,650,854       5,144,913       -       9,795,767  
Gross profit   $ 2,839,759     $ 2,862,177     $ -     $ 5,701,936     $ 4,516,947     $ 2,565,452     $ -     $ 7,082,399  
Operating expenses                                                                
General, and administrative     3,759,298       1,761,403       1,234,867       6,755,566       4,327,628       1,529,263       746,774       6,603,665  
Depreciation and amortization     86,023       251,700       -       337,723       128,152       240,149       -       368,301  
Research and development     890,083       -       -       890,083       848,805       -       -       848,805  
Operating (loss)/income   $ (1,895,645 )   $ 849,074     $ (1,234,867 )   $ (2,281,436 )   $ (787,638 )   $ 796,040     $ (746,774 )   $ (738,372 )
Other expense   $ (392,917 )   $ (78,226 )   $ (25,794,112 )   $ (26,265,257 )   $ (134,261 )   $ (108,144 )   $ (262,867 )   $ (505,272 )

 

   December 31,   September 30, 
   2024   2024 
Identifiable Assets          
Security  $19,855,045   $17,253,328 
Industrial Services   24,735,451    24,576,055 
Corporate   2,098,927    2,286,075 
Total Assets  $46,689,423   $44,115,458 

 

Unallocated corporate expenses mainly relate to payroll and benefits for corporate officers, investor relation expenses, accounting expenses related to audit and taxes, legal expenses related to corporate matters, interest expense on notes payable, and Series A and B Warrants transaction losses.