| Segment Reporting |
The Company
operates in three segments which are characterized as: (1) Manufacturing, (2) Retail Online and (3) Services. The Manufacturing
Segment consists of Marquis Industries, Inc., the Retail Online segment consists of Vintage Stock, Inc., Livedeal.com and Modern
Everyday, Inc., and the Services segment consists of the Local Exchange Carrier billings business and Velocity Local.
The following tables summarize
segment information for the years ended September 30, 2017 and 2016:
| |
|
Year Ended |
|
|
Year Ended |
|
| |
|
September 30, 2017 |
|
|
September 30, 2016 |
|
| |
|
Net |
|
|
Net |
|
| |
|
Revenue |
|
|
Revenue |
|
| Revenue |
|
|
|
|
|
|
| Used Movies, Music, Games and Other |
|
$ |
40,752,981 |
|
|
$ |
– |
|
| New Movies, Music, Games and Other |
|
|
29,522,356 |
|
|
|
– |
|
| Rentals, Concessions and Other |
|
|
1,116,308 |
|
|
|
– |
|
| Kitchen and Home Products |
|
|
128,904 |
|
|
|
5,438,007 |
|
| Carpets |
|
|
57,510,294 |
|
|
|
56,572,212 |
|
| Hard Surface Products |
|
|
16,211,404 |
|
|
|
11,254,131 |
|
| Synthetic Turf Products |
|
|
5,964,633 |
|
|
|
4,683,014 |
|
| Directory Services |
|
|
854,052 |
|
|
|
1,006,883 |
|
| Total Revenue |
|
$ |
152,060,932 |
|
|
$ |
78,954,247 |
|
| |
|
Year Ended September
30, |
|
| |
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
(Restated) |
|
| Revenues |
|
|
|
|
|
| Retail and Online |
|
$ |
71,520,549 |
|
|
$ |
5,438,007 |
|
| Manufacturing |
|
|
79,686,331 |
|
|
|
72,509,357 |
|
| Services |
|
|
854,052 |
|
|
|
1,006,883 |
|
| |
|
$ |
152,060,932 |
|
|
$ |
78,954,247 |
|
| |
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
41,101,989 |
|
|
$ |
1,238,317 |
|
| Manufacturing |
|
|
20,653,006 |
|
|
|
17,771,735 |
|
| Services |
|
|
811,640 |
|
|
|
964,818 |
|
| |
|
$ |
62,566,635 |
|
|
$ |
19,974,870 |
|
| |
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
8,875,855 |
|
|
$ |
(5,172,406 |
) |
| Manufacturing |
|
|
8,414,684 |
|
|
|
6,529,469 |
|
| Services |
|
|
808,838 |
|
|
|
961,186 |
|
| |
|
$ |
18,099,377 |
|
|
$ |
2,318,249 |
|
| |
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
2,074,574 |
|
|
$ |
284,593 |
|
| Manufacturing |
|
|
2,950,974 |
|
|
|
2,840,718 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
5,025,548 |
|
|
$ |
3,125,311 |
|
| |
|
|
|
|
|
|
|
|
| Interest expenses |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
5,879,447 |
|
|
$ |
2,947,294 |
|
| Manufacturing |
|
|
1,717,538 |
|
|
|
1,073,253 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
7,596,985 |
|
|
$ |
4,020,547 |
|
| |
|
|
|
|
|
|
|
|
| Net income (loss) before provision for income
taxes |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
3,096,109 |
|
|
$ |
2,947,294 |
|
| Manufacturing |
|
|
6,678,652 |
|
|
|
1,073,253 |
|
| Services |
|
|
808,838 |
|
|
|
– |
|
| |
|
$ |
10,583,599 |
|
|
$ |
4,020,547 |
|
|