Quarterly report pursuant to Section 13 or 15(d)

16. Segment Reporting

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16. Segment Reporting
9 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
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