v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 5 – SEGMENT INFORMATION

 

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

 

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.

 

 

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

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Three months ended March 31, 2026 
   Reportable Segments         
   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
External revenues  $5,776,557   $11,038,046   $1,232,592   $14,172   $18,061,367 
Cost of revenues   3,245,863    7,256,523    711,777    -    11,214,163 
Gross profit  $2,530,694   $3,781,523   $520,815   $14,172   $6,847,204 
Operating expenses                         
General and administrative   3,305,771    2,773,590    762,072    1,115,105    7,956,538 
Depreciation and amortization   65,525    302,070    148,250    -    515,845 
Research and development   521,579    -    25,279    -    546,858 
Operating (loss)/income  $(1,362,181)  $705,863   $(414,786)  $(1,100,933)  $(2,172,037)
                          
Other income/(expense), net  $(51,468)   1,967,994   $-   $1,551,185   $3,467,711 

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Three months ended March 31, 2025 
   Reportable Segments         
   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
External revenues  $16,981,152   $10,269,117   $    -   $-   $27,250,269 
Cost of revenues   8,177,296    6,907,518    -    -    15,084,814 
Gross profit  $8,803,856   $3,361,599   $-   $-   $12,165,455 
Operating expenses                         
General and administrative   3,655,756    2,229,023    -    575,661    6,460,440 
Depreciation and amortization   85,433    224,869    -    -    310,302 
Research and development   777,889    -    -    -    777,889 
Operating income/(loss)  $4,284,778   $907,707   $-   $(575,661)  $4,616,824 
                          
Other (expense)/income, net  $(493,731)   (110,145)  $-   $4,708,087   $4,104,211 

 

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Six months ended March 31, 2026 
   Reportable Segments         
   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
External revenues  $11,288,085   $21,649,202   $1,232,592   $24,799   $34,194,678 
Cost of revenues   6,596,623    14,417,208    711,777    -    21,725,608 
Gross profit  $4,691,462   $7,231,994   $520,815   $24,799   $12,469,070 
Operating expenses                         
General and administrative   7,909,694    4,563,329    762,072    2,324,733    15,559,828 
Depreciation and amortization   145,561    545,335    148,250    -    839,146 
Research and development   1,023,014    -    25,279    -    1,048,293 
Operating (loss)/income  $(4,386,807)  $2,123,330   $(414,786)  $(2,299,934)  $(4,978,197)
                          
Other (expense)/income, net  $(115,642)  $1,918,577   $-   $(15,850,876)  $(14,047,941)

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Six months ended March 31, 2025 
   Reportable Segments         
   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
External revenues  $22,434,851   $18,555,317   $    -   $-   $40,990,168 
Cost of revenues   10,791,236    12,331,541    -    -    23,122,777 
Gross profit  $11,643,615   $6,223,776   $-   $-   $17,867,391 
Operating expenses                         
General and administrative   7,415,054    3,990,426    -    1,810,526    13,216,006 
Depreciation and amortization   171,456    476,569    -    -    648,025 
Research and development   1,667,972    -    -    -    1,667,972 
Operating income/(loss)  $2,389,133   $1,756,781   $-   $(1,810,526)  $2,335,388 
                          
Other (expense)/income, net  $(886,648)  $(188,371)  $-   $(21,086,027)  $(22,161,046)

 

The following table summarizes the Company’s identifiable assets by segment as of March 31, 2026, and September 30, 2025.

 

   March 31, 2026   September 30, 2025 
       
Identifiable Assets          
Security  $14,568,187   $17,334,365 
Industrial Services   34,001,213    25,865,577 
Aerospace and Defense   8,466,640    - 
Corporate   13,700,334    4,588,334 
Total Assets  $70,736,374   $47,788,276