XML 48 R38.htm IDEA: XBRL DOCUMENT v3.20.4
3. Segment Reporting (Details) - USD ($)
3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Total revenue $ 1,707,677 $ 691,203
Gross Profit 1,707,677 841,750
Expense    
Compensation Expense 1,334,782 578,812
Cost of services 35,547 12,012
Depreciation & Amortization 35,330 26,022
General and Administrative 336,766 98,831
Marketing 20,546 21,113
Professional Services 132,730 115,333
Total Expense 1,895,701 852,123
Net Operating Income (188,024) (160,920)
Other Income/Expense    
Interest Expense 1,113 1,669
Other expense 6,336  
Net Other Income (1,113) 148,878
Net Income/(Loss) (194,360) (12,042)
Service Income [Member]    
Total revenue 600,550 283,107
Investment Management Fees [Member]    
Total revenue 839,029 408,096
Operating Segments [Member]    
Total revenue 1,707,677 841,750
Gross Profit 1,707,677 841,750
Expense    
Compensation Expense 1,334,782 578,812
Cost of services 35,547 12,012
Depreciation & Amortization 35,330 26,022
General and Administrative 336,766 98,831
Marketing 20,546 21,113
Professional Services 132,730 115,333
Total Expense 1,895,701 852,123
Net Operating Income (188,024) (10,373)
Other Income/Expense    
Interest Expense   1,669
Other expense 6,336  
Net Other Income (6,336) (1,669)
Net Income/(Loss) (194,360) (12,042)
Operating Segments [Member] | Service Income [Member]    
Total revenue   433,654
Intersegment Eliminations [Member]    
Total revenue (60,096)  
Gross Profit (60,096)  
Expense    
Compensation Expense 0  
Cost of services 0  
Depreciation & Amortization 0  
General and Administrative 0  
Marketing 0  
Professional Services 0  
Total Expense 0  
Net Operating Income (60,096)  
Other Income/Expense    
Net Other Income 0  
Net Income/(Loss) (60,096)  
Financial Gravity Companies [Member]    
Total revenue 60,096 153,077
Gross Profit 60,096 153,077
Expense    
Compensation Expense 420,274 365,978
Cost of services 0 0
Depreciation & Amortization 35,258 11,672
General and Administrative 44,612 79,462
Marketing 6,856 14,964
Professional Services 58,299 120,902
Total Expense 565,300 592,978
Net Operating Income (505,204) (439,901)
Other Income/Expense    
Interest Expense   1,724
Other expense 1,113  
Net Other Income (243,956) (1,724)
Net Income/(Loss) (749,160) (441,624)
Financial Gravity Companies [Member] | Service Income [Member]    
Total revenue   153,002
Financial Gravity Companies [Member] | Investment Management Fees [Member]    
Total revenue   75
Financial Gravity Tax [Member]    
Total revenue   69,721
Gross Profit   69,721
Expense    
Compensation Expense   (78)
Cost of services   4,410
Depreciation & Amortization   0
General and Administrative   1,620
Marketing   2,411
Professional Services   0
Total Expense   8,363
Net Operating Income   61,358
Other Income/Expense    
Interest Expense   0
Net Other Income   0
Net Income/(Loss)   61,358
Financial Gravity Tax [Member] | Service Income [Member]    
Total revenue   69,721
Financial Gravity Tax [Member] | Investment Management Fees [Member]    
Total revenue   0
MPath [Member]    
Gross Profit 172,602 0
Expense    
Compensation Expense 50,450 0
Cost of services 0 0
Depreciation & Amortization 0 0
General and Administrative 3,628 50
Marketing 0 0
Professional Services 0 0
Total Expense 54,079 50
Net Operating Income 118,523 (50)
Other Income/Expense    
Interest Expense   0
Other expense 0  
Net Other Income 0 0
Net Income/(Loss) 118,523 (50)
MPath [Member] | Service Income [Member]    
Total revenue 172,602 0
MPath [Member] | Investment Management Fees [Member]    
Total revenue   0
Sofos Investments [Member]    
Total revenue 408,473 424,326
Gross Profit 408,473 424,326
Expense    
Compensation Expense 120,311 148,558
Cost of services 11,074 0
Depreciation & Amortization 0 0
General and Administrative 3,556 1,211
Marketing 0 20
Professional Services 0 (9,116)
Total Expense 134,940 140,673
Net Operating Income 273,533 283,652
Other Income/Expense    
Interest Expense   0
Other expense 0  
Net Other Income 0 0
Net Income/(Loss) 273,533 283,652
Sofos Investments [Member] | Service Income [Member]    
Total revenue   16,305
Sofos Investments [Member] | Investment Management Fees [Member]    
Total revenue 408,473 408,020
Tax Masters Network [Member]    
Total revenue 381,464 194,625
Gross Profit 381,495 194,626
Expense    
Compensation Expense 119,750 64,354
Cost of services 10,324 7,602
Depreciation & Amortization 0 14,350
General and Administrative 50,287 16,488
Marketing 3,080 3,717
Professional Services 26,939 3,547
Total Expense 210,380 110,058
Net Operating Income 171,114 84,568
Other Income/Expense    
Interest Expense   (55)
Other expense 0  
Net Other Income 0 55
Net Income/(Loss) 171,114 84,623
Tax Masters Network [Member] | Service Income [Member]    
Total revenue 381,495 194,626
Tax Masters Network [Member] | Investment Management Fees [Member]    
Total revenue   $ 0
Forta Financial Group [Member]    
Total revenue 745,108  
Gross Profit 745,108  
Expense    
Compensation Expense 623,997  
Cost of services 14,150  
Depreciation & Amortization 72  
General and Administrative 234,683  
Marketing 10,609  
Professional Services 47,493  
Total Expense 931,004  
Net Operating Income (185,896)  
Other Income/Expense    
Other expense 5,223  
Net Other Income 237,620  
Net Income/(Loss) 51,669  
Forta Financial Group [Member] | Service Income [Member]    
Total revenue 46,454  
Forta Financial Group [Member] | Investment Management Fees [Member]    
Total revenue 430,556  
Forta Financial Group [Member] | Broker Dealer [Member]    
Total revenue $ 268,098