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SEGMENT INFORMATION
 6 Months Ended
Mar. 31, 2025
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:

 

                                 
   Three months ended March 31, 2025   Three months ended March 31, 2024 
   Reportable Segments           Reportable Segments         
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
External revenues  $16,981,152   $10,269,117   $-   $27,250,269   $8,084,932   $9,074,663   $-   $17,159,595 
Cost of revenues   8,177,296    6,907,518    -    15,084,814    3,971,963    6,248,216    -    10,220,179 
Gross profit  $8,803,856   $3,361,599   $-   $12,165,455   $4,112,969   $2,826,447   $-   $6,939,416 
Operating expenses                                        
Sales, general, and administrative   3,655,756    2,229,023    575,661    6,460,440    3,833,596    1,897,269    984,403    6,715,268 
Depreciation and amortization   85,433    224,869    -    310,302    71,260    233,629    -    304,889 
Research and development   777,889    -    -    777,889    951,400    -    -    951,400 
Operating (loss)/income  $4,284,778   $907,707   $(575,661)  $4,616,824    (743,287)   695,549   (984,403)   (1,032,141)
                                         
Other income/(expense)  $(493,731)  $(110,145)  $4,708,087   $4,104,211   $(138,633)  $(78,289)  $(231,117)  $(448,039)

 

 

                                 
   Six months ended March 31, 2025    Six months ended March 31, 2024  
   Reportable Segments           Reportable Segments         
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
External revenues  $22,434,851   $18,555,317   $-   $40,990,168   $17,252,733   $16,785,028   $-   $34,037,761 
Cost of revenues   10,791,236    12,331,541    -    23,122,777    8,622,817    11,393,129    -    20,015,946 
Gross profit  $11,643,615   $6,223,776   $-   $17,867,391   $8,629,916   $5,391,899   $-   $14,021,815 
Operating expenses                                        
General, and administrative   7,415,054    3,990,426    1,810,526    13,216,006    8,161,224    3,426,532    1,731,177    13,318,933 
Depreciation and amortization   171,456    476,569    -    648,025    199,412    473,778    -    673,190 
Research and development   1,667,972    -    -    1,667,972    1,800,205    -    -    1,800,205 
Operating (loss)/income  $2,389,133   $1,756,781   $(1,810,526)  $2,335,388   $(1,530,925)  $1,491,589   $(1,731,177)  $(1,770,513)
                                         
Other expense  $(886,648)  $(188,371)  $(21,086,027)  $(22,161,046)  $(272,894)  $(186,433)  $(493,984)  $(953,311)

 

   March 31,   September 30, 
   2025   2024 
Identifiable Assets          
Security  $17,642,142   $17,253,328 
Industrial Services   26,634,657    24,576,055 
Corporate   1,960,351    2,286,075 
Total Assets  $46,237,150   $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.