v3.25.2
SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 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 June 30, 2025   Three months ended June 30, 2024 
   Reportable Segments           Reportable Segments         
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
External revenues  $7,581,814   $9,383,844   $-   $16,965,658   $6,193,487   $8,492,911   $-   $14,686,398 
Cost of revenues   3,628,252    5,966,900    -    9,595,152    2,970,396    5,838,855    -    8,809,251 
Gross profit  $3,953,562   $3,416,944   $-   $7,370,506   $3,223,091   $2,654,056   $-   $5,877,147 
Operating expenses                                        
Sales, general, and administrative   4,202,304    2,371,501    739,632    7,313,437    4,363,645    1,917,206    1,585,878    7,866,729 
Depreciation and amortization   87,290    225,615    -    312,905    96,210    229,241    -    325,451 
Research and development   386,565    -    -    386,565    864,483    -    -    864,483 
Operating (loss)/income  $(722,597)  $819,828   $(739,632)  $(642,401)   (2,101,247)   507,609    (1,585,878)   (3,179,516)
                                         
Other income/(expense), net  $(359,260)  $(2,363,574)  $(1,212,097)  $(3,934,931)  $(119,813)  $(50,250)  $(5,732,430)  $(5,902,493)

 

 

                                 
   Nine months ended June 30, 2025    Nine months ended June 30, 2024 
   Reportable Segments           Reportable Segments         
   Security   Industrial Services   Corporate   Consolidated   Security   Industrial Services   Corporate   Consolidated 
External revenues  $30,016,665   $27,939,161   $-   $57,955,826   $23,446,220   $25,277,939   $-   $48,724,159 
Cost of revenues   14,419,488    18,298,441    -    32,717,929    11,593,213    17,231,984    -    28,825,197 
Gross profit  $15,597,177   $9,640,720   $-   $25,237,897   $11,853,007   $8,045,955   $-   $19,898,962 
Operating expenses                                        
General, and administrative   11,617,358    6,361,927    2,550,158    20,529,443    12,524,869    5,343,738    3,317,055    21,185,662 
Depreciation and amortization   258,746    702,184    -    960,930    295,622    703,019    -    998,641 
Research and development   2,054,537    -    -    2,054,537    2,664,688    -    -    2,664,688 
Operating (loss)/income  $1,666,536   $2,576,609   $(2,550,158)  $1,692,987   $(3,632,172)  $1,999,198   $(3,317,055)  $(4,950,029)
                                         
Other income/(expense), net  $(1,245,908)  $(2,551,945)  $(22,298,124)  $(26,095,977)  $(392,707)  $(236,683)  $(6,226,414)  $(6,855,804)

 

   June 30,   September 30, 
   2025   2024 
Identifiable Assets          
Security  $17,521,601   $17,253,328 
Industrial Services   26,943,580    24,576,055 
Corporate   2,495,642    2,286,075 
Total Assets  $46,960,823   $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.