v3.26.1
SEGMENT INFORMATION
 9 Months Ended
Jun. 30, 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 June 30, 2026 
   Reportable Segments         
   Security  

Industrial

Services

   Aerospace and Defense   Corporate   Consolidated 
External revenues  $6,251,494   $9,973,792   $2,202,305   $12,619   $18,440,210 
Cost of revenues   3,185,013    7,271,351    287,056    -    10,743,420 
Gross profit  $3,066,481   $2,702,441   $1,915,249   $12,619   $7,696,790 
Operating expenses                         
General and administrative   2,876,215    3,068,242    715,161    1,223,473    7,883,091 
Depreciation and amortization   85,094    344,997    148,250    3,310    581,651 
Research and development   376,843    -    48,347    -    425,190 
Operating (loss)/income  $(271,671)  $(710,798)  $1,003,491   $(1,214,164)  $(1,193,142)
                          
Other expense, net  $(61,685)   (165,497)  $-   $(3,068,169)  $(3,295,351)

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Three months ended June 30, 2025 
   Reportable Segments         
   Security  

Industrial

Services

   Aerospace and Defense   Corporate   Consolidated 
External revenues  $7,581,814   $9,383,844   $-   $-   $16,965,658 
Cost of revenues   3,628,252    5,966,900    -    -    9,595,152 
Gross profit  $3,953,562   $3,416,944   $-   $-   $7,370,506 
Operating expenses                         
General and administrative   4,202,304    2,371,501    -    739,632    7,313,437 
Depreciation and amortization   87,290    225,615    -    -    312,905 
Research and development   386,565    -    -    -    386,565 
Operating (loss)/income  $(722,597)  $819,828   $-   $(739,632)  $(642,401)
                          
Other expense, net  $(359,260)   (2,363,574)  $-   $(1,212,097)  $(3,934,931)

 

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Nine months ended June 30, 2026 
   Reportable Segments         
   Security  

Industrial

Services

   Aerospace and Defense   Corporate   Consolidated 
External revenues  $17,539,579   $31,622,994   $3,434,897   $37,418   $52,634,888 
Cost of revenues   9,781,636    21,688,559    998,833    -    32,469,028 
Gross profit  $7,757,943   $9,934,435   $2,436,064   $37,418   $20,165,860 
Operating expenses                         
General and administrative   10,785,909    7,631,571    1,477,233    3,548,206    23,442,919 
Depreciation and amortization   230,655    890,332    296,500    3,310    1,420,797 
Research and development   1,399,857    -    73,626    -    1,473,483 
Operating (loss)/income  $(4,658,478)  $1,412,532   $588,705   $(3,514,098)  $(6,171,339)
                          
Other (expense)/income, net  $(177,327)  $1,753,080   $-   $(18,919,045)  $(17,343,292)

 

   Security   Industrial Services   Aerospace and Defense   Corporate   Consolidated 
   Nine months ended June 30, 2025 
   Reportable Segments         
   Security  

Industrial

Services

   Aerospace and Defense   Corporate   Consolidated 
External revenues  $30,016,665   $27,939,161   $-   $-   $57,955,826 
Cost of revenues   14,419,488    18,298,441    -    -    32,717,929 
Gross profit  $15,597,177   $9,640,720   $-   $-   $25,237,897 
Operating expenses                         
General and administrative   11,617,358    6,361,927    -    2,550,158    20,529,443 
Depreciation and amortization   258,746    702,184    -    -    960,930 
Research and development   2,054,537    -    -    -    2,054,537 
Operating income/(loss)  $1,666,536   $2,576,609   $-   $(2,550,158)  $1,692,987 
                          
Other expense, net  $(1,245,908)  $(2,551,945)  $-   $(22,298,124)  $(26,095,977)

 

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

  

   June 30,   September 30, 
   2026   2025 
Identifiable Assets          
Security  $17,032,475   $17,334,365 
Industrial Services   36,235,027    25,865,577 
Aerospace and Defense   9,443,131    - 
Corporate   7,294,724    4,588,334 
Total Assets  $70,005,357   $47,788,276