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Segment Information
 6 Months Ended
Mar. 31, 2024
Segment Information [Abstract]  
SEGMENT INFORMATION

Note 13 — SEGMENT INFORMATION

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments The Company has determined that it has two operating segments as defined by ASC 280, “Segment Reporting”: education and wellness and others. Education segment offers foreign language tutorial services and other education training management services in China. The wellness and others segment offers wellness service as well as related products and others services.

 

Selected financial information is presented below:

 

   Education   Wellness and others   Total 
   2024   2023   2024   2023   2024   2023 
Revenues  $3,689,016   $3,526,598   $18,920   $
   -
   $3,707,936   $3,526,598 
Cost of revenues   2,053,164    2,285,768    21,896    
-
    2,075,060    2,285,768 
Gross profit   1,635,851    1,240,830    (2,975)   
-
    1,632,876    1,240,830 
Interest expenses, net   111,304    142,967    (20)   
-
    111,284    142,967 
Depreciation and amortization   53,008    79,916    920    
-
    53,928    79,916 
Capital expenditures   15,531    167,292    17,566    
-
    33,097    167,292 
Segment assets   15,693,113    19,448,093    746,821    
-
    16,439,934    19,448,093 
Segment loss  $(1,542,596)  $(3,662,596)  $(251,568)  $
-
   $(1,794,164)  $(3,662,596)