Annual report pursuant to Section 13 and 15(d)

18. Segment Reporting

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18. Segment Reporting
12 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
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