| Segment Reporting |
Note
17: 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, ApplianceSmart,
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, 2018 and 2017:
| |
|
Three Months Ended
June 30, |
|
|
Nine Months Ended
June 30, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
29,705,192 |
|
|
$ |
19,267,959 |
|
|
$ |
82,182,175 |
|
|
$ |
54,020,215 |
|
| Manufacturing |
|
|
24,773,123 |
|
|
|
21,898,645 |
|
|
|
64,460,280 |
|
|
|
57,429,871 |
|
| Services |
|
|
183,742 |
|
|
|
210,889 |
|
|
|
567,594 |
|
|
|
652,496 |
|
| |
|
$ |
54,662,057 |
|
|
$ |
41,377,493 |
|
|
$ |
147,210,049 |
|
|
$ |
112,102,582 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
12,141,262 |
|
|
$ |
10,953,602 |
|
|
$ |
38,133,949 |
|
|
$ |
30,105,864 |
|
| Manufacturing |
|
|
6,498,207 |
|
|
|
5,839,412 |
|
|
|
16,187,021 |
|
|
|
15,388,787 |
|
| Services |
|
|
174,749 |
|
|
|
200,883 |
|
|
|
539,839 |
|
|
|
619,848 |
|
| |
|
$ |
18,814,218 |
|
|
$ |
16,993,897 |
|
|
$ |
54,860,809 |
|
|
$ |
46,114,499 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(1,978,657 |
) |
|
$ |
2,268,438 |
|
|
$ |
2,644,667 |
|
|
$ |
6,547,564 |
|
| Manufacturing |
|
|
2,703,380 |
|
|
|
2,915,516 |
|
|
|
5,710,457 |
|
|
|
7,168,164 |
|
| Services |
|
|
173,097 |
|
|
|
199,173 |
|
|
|
537,447 |
|
|
|
617,324 |
|
| |
|
$ |
897,820 |
|
|
$ |
5,383,127 |
|
|
$ |
8,892,571 |
|
|
$ |
14,333,052 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
988,169 |
|
|
$ |
329,416 |
|
|
$ |
2,106,133 |
|
|
$ |
884,522 |
|
| Manufacturing |
|
|
833,064 |
|
|
|
760,125 |
|
|
|
2,418,264 |
|
|
|
2,228,264 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,821,233 |
|
|
$ |
1,089,541 |
|
|
$ |
4,524,397 |
|
|
$ |
3,112,786 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
2,223,285 |
|
|
$ |
1,600,589 |
|
|
$ |
5,594,983 |
|
|
$ |
4,283,015 |
|
| Manufacturing |
|
|
487,997 |
|
|
|
527,201 |
|
|
|
1,406,331 |
|
|
|
1,329,304 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
2,711,282 |
|
|
$ |
2,127,790 |
|
|
$ |
7,001,314 |
|
|
$ |
5,612,319 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(503,861 |
) |
|
$ |
797,504 |
|
|
$ |
4,710,315 |
|
|
$ |
2,842,206 |
|
| Manufacturing |
|
|
2,232,996 |
|
|
|
2,175,749 |
|
|
|
4,316,045 |
|
|
|
5,363,455 |
|
| Services |
|
|
173,097 |
|
|
|
294,736 |
|
|
|
537,447 |
|
|
|
712,886 |
|
| |
|
$ |
1,902,232 |
|
|
$ |
3,267,989 |
|
|
$ |
9,563,807 |
|
|
$ |
8,918,547 |
|
| |
|
As of
June 30,
2018 |
|
|
As of
September
30,
2017 |
|
| |
|
|
|
|
|
|
| Total assets |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
88,761,358 |
|
|
$ |
81,703,371 |
|
| Manufacturing |
|
|
52,942,685 |
|
|
|
46,783,429 |
|
| Services |
|
|
101,379 |
|
|
|
107,795 |
|
| |
|
$ |
141,805,422 |
|
|
$ |
128,594,595 |
|
| |
|
|
|
|
|
|
|
|
| Goodwill and intangible assets |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
43,612,119 |
|
|
$ |
40,778,865 |
|
| Manufacturing |
|
|
351,233 |
|
|
|
373,184 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
43,963,352 |
|
|
$ |
41,152,049 |
|
|