| 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 six months ended March 31, 2019 and 2018:
| |
|
Three Months Ended March 31, |
|
|
Six Months Ended March 31, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
25,747,635 |
|
|
$ |
31,183,512 |
|
|
$ |
56,392,650 |
|
|
$ |
52,476,983 |
|
| Manufacturing |
|
|
21,062,147 |
|
|
|
20,808,622 |
|
|
|
43,444,432 |
|
|
|
39,687,157 |
|
| Services |
|
|
163,369 |
|
|
|
187,794 |
|
|
|
332,009 |
|
|
|
383,852 |
|
| |
|
$ |
46,973,151 |
|
|
$ |
52,179,928 |
|
|
$ |
100,169,091 |
|
|
$ |
92,547,992 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
12,741,758 |
|
|
$ |
14,536,885 |
|
|
$ |
26,318,041 |
|
|
$ |
25,992,687 |
|
| Manufacturing |
|
|
5,755,461 |
|
|
|
4,936,246 |
|
|
|
11,357,119 |
|
|
|
9,688,814 |
|
| Services |
|
|
153,930 |
|
|
|
177,570 |
|
|
|
313,067 |
|
|
|
365,090 |
|
| |
|
$ |
18,651,149 |
|
|
$ |
19,650,701 |
|
|
$ |
37,988,227 |
|
|
$ |
36,046,591 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(129,237 |
) |
|
$ |
2,391,848 |
|
|
$ |
(367,889 |
) |
|
$ |
4,623,324 |
|
| Manufacturing |
|
|
2,022,072 |
|
|
|
1,504,823 |
|
|
|
4,192,549 |
|
|
|
3,007,077 |
|
| Services |
|
|
153,540 |
|
|
|
177,292 |
|
|
|
312,207 |
|
|
|
364,350 |
|
| |
|
$ |
2,046,375 |
|
|
$ |
4,073,963 |
|
|
$ |
4,136,867 |
|
|
$ |
7,994,751 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
882,227 |
|
|
$ |
440,503 |
|
|
$ |
1,670,478 |
|
|
$ |
1,117,964 |
|
| Manufacturing |
|
|
610,193 |
|
|
|
866,756 |
|
|
|
1,303,711 |
|
|
|
1,585,200 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,492,420 |
|
|
$ |
1,307,259 |
|
|
$ |
2,974,189 |
|
|
$ |
2,703,164 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
1,120,205 |
|
|
$ |
1,349,291 |
|
|
$ |
2,295,996 |
|
|
$ |
3,371,698 |
|
| Manufacturing |
|
|
415,792 |
|
|
|
472,429 |
|
|
|
892,734 |
|
|
|
918,334 |
|
| Services |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,535,997 |
|
|
$ |
1,821,720 |
|
|
$ |
3,188,730 |
|
|
$ |
4,290,032 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(1,332,758 |
) |
|
$ |
1,161,581 |
|
|
$ |
(2,605,175 |
) |
|
$ |
5,214,176 |
|
| Manufacturing |
|
|
1,854,486 |
|
|
|
1,019,656 |
|
|
|
5,066,106 |
|
|
|
2,083,049 |
|
| Services |
|
|
153,604 |
|
|
|
177,292 |
|
|
|
312,271 |
|
|
|
364,350 |
|
| |
|
$ |
675,332 |
|
|
$ |
2,358,529 |
|
|
$ |
2,773,202 |
|
|
$ |
7,661,575 |
|
| |
|
|
|
|
|
|
|
As of |
|
|
As of |
|
| |
|
|
|
|
|
|
|
March 31, |
|
|
September 30, |
|
| |
|
|
|
|
|
|
|
2019 |
|
|
2018 |
|
| Total assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
|
|
|
|
|
|
|
|
$ |
83,439,817 |
|
|
$ |
88,799,584 |
|
| Manufacturing |
|
|
|
|
|
|
|
|
|
|
48,335,629 |
|
|
|
52,915,109 |
|
| Services |
|
|
|
|
|
|
|
|
|
|
72,215 |
|
|
|
57,703 |
|
| |
|
|
|
|
|
|
|
|
|
$ |
131,847,661 |
|
|
$ |
141,772,396 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Goodwill and intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Retail and Online |
|
|
|
|
|
|
|
|
|
$ |
42,458,607 |
|
|
$ |
43,268,668 |
|
| Manufacturing |
|
|
|
|
|
|
|
|
|
|
329,280 |
|
|
|
343,914 |
|
| Services |
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
| |
|
|
|
|
|
|
|
|
|
$ |
42,787,887 |
|
|
$ |
43,612,582 |
|
|