| Segment Reporting |
The Company operates in three segments which
are characterized as: (1) Manufacturing, (2) Retail and Online and (3) Services. The Manufacturing Segment consists of Marquis
Industries, the Retail and Online segment consists of Vintage Stock, Modern Everyday and LiveDeal.com, and the Services segment
consists of the directory services business.
The following tables summarize segment information for the three
and nine months ended June 30, 2017 and 2016:
| |
|
Three Months Ended June 30, |
|
|
Nine Months Ended June 30, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
19,267,959 |
|
|
$ |
508,099 |
|
|
$ |
54,020,215 |
|
|
$ |
5,284,851 |
|
| Manufacturing |
|
|
21,898,645 |
|
|
|
19,243,019 |
|
|
|
57,429,871 |
|
|
|
53,881,143 |
|
| Services |
|
|
210,889 |
|
|
|
243,245 |
|
|
|
652,496 |
|
|
|
772,726 |
|
| |
|
$ |
41,377,493 |
|
|
$ |
19,994,363 |
|
|
$ |
112,102,582 |
|
|
$ |
59,938,720 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
10,953,602 |
|
|
$ |
(616,754 |
) |
|
$ |
30,105,864 |
|
|
$ |
1,233,705 |
|
| Manufacturing |
|
|
5,839,412 |
|
|
|
5,483,896 |
|
|
|
15,388,787 |
|
|
|
15,143,363 |
|
| Services |
|
|
200,883 |
|
|
|
232,272 |
|
|
|
619,848 |
|
|
|
738,420 |
|
| |
|
$ |
16,993,897 |
|
|
$ |
5,099,414 |
|
|
$ |
46,114,499 |
|
|
$ |
17,115,488 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
2,268,438 |
|
|
$ |
(2,228,857 |
) |
|
$ |
6,547,564 |
|
|
$ |
(4,378,431 |
) |
| Manufacturing |
|
|
2,915,516 |
|
|
|
3,055,516 |
|
|
|
7,168,164 |
|
|
|
6,946,781 |
|
| Services |
|
|
199,173 |
|
|
|
230,559 |
|
|
|
617,324 |
|
|
|
734,598 |
|
| |
|
$ |
5,383,127 |
|
|
$ |
1,057,218 |
|
|
$ |
14,333,052 |
|
|
$ |
3,302,948 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
329,416 |
|
|
$ |
65,404 |
|
|
$ |
884,522 |
|
|
$ |
201,647 |
|
| Manufacturing |
|
|
760,125 |
|
|
|
496,591 |
|
|
|
2,228,264 |
|
|
|
1,421,366 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,089,541 |
|
|
$ |
561,995 |
|
|
$ |
3,112,786 |
|
|
$ |
1,623,013 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
1,600,589 |
|
|
$ |
10,346 |
|
|
$ |
4,283,015 |
|
|
$ |
121,319 |
|
| Manufacturing |
|
|
527,201 |
|
|
|
259,661 |
|
|
|
1,329,304 |
|
|
|
829,157 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
2,127,790 |
|
|
$ |
270,007 |
|
|
$ |
5,612,319 |
|
|
$ |
950,476 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
797,504 |
|
|
$ |
(1,573,841 |
) |
|
$ |
2,842,206 |
|
|
$ |
(3,319,139 |
) |
| Manufacturing |
|
|
2,175,749 |
|
|
|
2,457,201 |
|
|
|
5,363,455 |
|
|
|
5,643,733 |
|
| Services |
|
|
294,736 |
|
|
|
230,559 |
|
|
|
712,886 |
|
|
|
722,155 |
|
| |
|
$ |
3,267,989 |
|
|
$ |
1,113,919 |
|
|
$ |
8,918,547 |
|
|
$ |
3,046,749 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
As of |
|
|
|
As of |
|
| |
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
|
September 30, |
|
| |
|
|
|
|
|
|
|
|
|
|
2017 |
|
|
|
2016 |
|
| Total assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
|
|
|
|
|
|
|
|
$ |
41,070,216 |
|
|
$ |
15,053,993 |
|
| Manufacturing |
|
|
|
|
|
|
|
|
|
|
49,717,336 |
|
|
|
38,333,437 |
|
| Services |
|
|
|
|
|
|
|
|
|
|
34,934,464 |
|
|
|
79,970 |
|
| |
|
|
|
|
|
|
|
|
|
$ |
125,722,016 |
|
|
$ |
53,467,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Goodwill and intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
|
|
|
|
|
|
|
|
$ |
41,464,911 |
|
|
$ |
1,287,338 |
|
| Manufacturing |
|
|
|
|
|
|
|
|
|
|
380,501 |
|
|
|
402,452 |
|
| Services |
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
| |
|
|
|
|
|
|
|
|
|
$ |
41,845,412 |
|
|
$ |
1,689,790 |
|
|