XML 42 R33.htm IDEA: XBRL DOCUMENT v3.22.2.2
SEGMENT REPORTING (Details) - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Segment Reporting Information [Line Items]        
Total Revenue $ 1,347,172 $ 1,676,659 $ 4,518,407 $ 5,066,332
Affiliate expense (158,291) 0 (237,857) 0
Gross Profit 1,188,881 1,676,659 4,280,550 5,066,332
Expense        
Cost of services 9,533 29,166 302,981 87,396
Professional services 108,468 123,077 328,852 352,881
Depreciation and amortization 21,724 21,594 65,171 89,098
General and administrative 122,081 342,024 389,200 896,439
Marketing 23,188 23,249 91,029 56,029
Compensation expense 1,195,671 1,535,930 3,865,677 4,271,396
Total Expense 1,480,665 2,075,040 5,042,910 5,753,239
Net Operating Income (Loss) (291,784) (398,381) (762,360) (686,907)
Other Income        
PPP Loan forgiveness 339,070 661,045 339,070 661,045
Other Expense        
Income Taxes (7,634) (4,033)
Loss on impairment of Goodwill 0 (7,380,603) 0 (7,380,603)
Net Other Expense 338,780 (6,721,096) 336,620 (6,723,366)
Net Income/(Loss) 46,996 (7,111,843) (425,740) (7,406,240)
Intersegment Eliminations [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0   0 0
Investment Management Fees (76,275)   (149,201) 0
Service Income 0   0 0
Income from investment in subsidiaries (327,624)   49,432  
Total Revenue (403,899)   (99,769) 0
Affiliate expense 76,275   149,201  
Gross Profit (327,624)   49,432 0
Expense        
Cost of services 0   0 0
Professional services 0   0 0
Depreciation and amortization 0   0 0
General and administrative 0   0 0
Marketing 0   0 0
Compensation expense 0   0 0
Total Expense 0   0 0
Net Operating Income (Loss) (327,624)   49,432 0
Other Income        
PPP Loan forgiveness 0   0 0
Total Other Income 0   0 0
Other Expense        
Interest Expense 0   0 0
Income Taxes 0   0 0
Loss on impairment of Goodwill       0
Net Other Expense 0   0 0
Net Income/(Loss) (327,624)   (49,432) 0
Financial Gravity Companies [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0 0 0 0
Investment Management Fees 0 0 0 0
Service Income 0 0 0 0
Income from investment in subsidiaries 327,624   (49,432)  
Total Revenue 327,624 0 (49,432) 0
Affiliate expense 0   0  
Gross Profit 327,624 0 (49,432) 0
Expense        
Cost of services 0 0 (237) 0
Professional services 89,892 54,551 187,869 169,303
Depreciation and amortization 5,360 5,105 15,884 60,083
General and administrative 89,904 119,793 266,495 201,983
Marketing 20,291 7,488 60,192 17,525
Compensation expense 781,490 484,310 2,267,444 1,389,281
Total Expense 986,937 671,247 2,797,647 1,838,175
Net Operating Income (Loss) (659,313) (671,247) (2,847,079) (1,838,175)
Other Income        
PPP Loan forgiveness 0 283,345 0 283,345
Total Other Income 0 283,345 0 283,345
Other Expense        
Interest Expense (218) (903) (771) (3,173)
Income Taxes 0 64,562 0 (199,821)
Loss on impairment of Goodwill   (7,380,603)   (7,380,603)
Net Other Expense (218) (7,316,944) (771) (7,583,597)
Net Income/(Loss) (659,531) (7,704,846) (2,847,850) (9,138,427)
Forta Financial Group [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 5,500 244,470 98,544 767,284
Investment Management Fees 10,535 515,416 87,517 1,422,745
Service Income 20,223 45,753 93,216 114,570
Income from investment in subsidiaries 0   0  
Total Revenue 36,258 805,639 279,277 2,304,599
Affiliate expense 0   0  
Gross Profit 36,258 805,639 279,277 2,304,599
Expense        
Cost of services 0 18,310 259,087 45,846
Professional services 4,120 49,690 124,055 137,628
Depreciation and amortization 0 125 194 284
General and administrative 18,206 190,688 57,032 569,240
Marketing 69 5,234 69 17,584
Compensation expense 25,239 723,070 225,662 1,959,331
Total Expense 47,634 987,117 666,099 2,729,913
Net Operating Income (Loss) (11,376) (181,478) (386,822) (425,314)
Other Income        
PPP Loan forgiveness 339,070 377,700 339,070 377,700
Total Other Income 339,070 377,700 339,070 377,700
Other Expense        
Interest Expense (72) (635) (1,679) (635)
Income Taxes 0 (56,928) 0 203,854
Loss on impairment of Goodwill   0   0
Net Other Expense (72) (57,563) (1,679) 203,219
Net Income/(Loss) 327,622 138,659 (49,431) 155,605
Financial Gravity Asset Management [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0 0 0 0
Investment Management Fees 271,217 553,469 1,195,522 1,478,798
Service Income 104,803 683 249,963 683
Income from investment in subsidiaries 0   0  
Total Revenue 376,020 554,152 1,445,485 1,479,481
Affiliate expense (234,566)   (387,058)  
Gross Profit 141,454 554,152 1,058,427 1,479,481
Expense        
Cost of services 0 0 11,764 11,074
Professional services 261 3,889 3,447 3,889
Depreciation and amortization 0 0 0 0
General and administrative 15,801 4,462 44,278 16,670
Marketing 0 0 0 132
Compensation expense 25,567 219,200 313,004 531,973
Total Expense 41,629 227,551 372,493 563,738
Net Operating Income (Loss) 99,825 326,601 685,934 915,743
Other Income        
PPP Loan forgiveness 0 0 0 0
Total Other Income 0 0 0 0
Other Expense        
Interest Expense 0 0 0 0
Income Taxes 0 0 0 0
Loss on impairment of Goodwill   0   0
Net Other Expense 0 0 0 0
Net Income/(Loss) 99,825 326,601 685,934 915,743
Financial Gravity Enhanced Markets [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0 0 0 0
Investment Management Fees 0 0 0 0
Service Income 219,982 38,453 808,104 365,131
Income from investment in subsidiaries 0   0  
Total Revenue 219,982 38,453 808,104 365,131
Affiliate expense 0   0  
Gross Profit 219,982 38,453 808,104 365,131
Expense        
Cost of services 0 0 0 0
Professional services 0 0 0 175
Depreciation and amortization 0 0 0 0
General and administrative 5,219 7,386 20,483 16,707
Marketing 735 681 2,097 1,135
Compensation expense 103,761 10,850 256,720 96,311
Total Expense 109,715 18,917 279,300 114,328
Net Operating Income (Loss) 110,267 19,536 528,804 250,803
Other Income        
PPP Loan forgiveness 0 0 0 0
Total Other Income 0 0 0 0
Other Expense        
Interest Expense 0 0 0 0
Income Taxes 0 0 0 0
Loss on impairment of Goodwill   0   0
Net Other Expense 0 0 0 0
Net Income/(Loss) 110,267 19,536 528,804 250,803
Tax Masters Network [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0 0 0 0
Investment Management Fees 0 0 0 0
Service Income 238,341 278,415 830,567 917,121
Income from investment in subsidiaries 0   0  
Total Revenue 238,341 278,415 830,567 917,121
Affiliate expense 0   0  
Gross Profit 238,341 278,415 830,567 917,121
Expense        
Cost of services 9,533 10,856 32,367 30,476
Professional services 14,195 14,947 14,780 41,886
Depreciation and amortization 16,364 16,364 49,093 28,731
General and administrative 1,386 19,695 7,626 91,839
Marketing 2,093 9,846 28,671 19,653
Compensation expense 72,000 98,500 263,750 294,500
Total Expense 115,571 170,208 396,287 507,085
Net Operating Income (Loss) 122,770 108,207 434,280 410,036
Other Income        
PPP Loan forgiveness 0 0 0 0
Total Other Income 0 0 0 0
Other Expense        
Interest Expense 0 0 0 0
Income Taxes 0 0 0 0
Loss on impairment of Goodwill   0   0
Net Other Expense 0 0 0 0
Net Income/(Loss) 122,770 108,207 434,280 410,036
Total [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 5,500 244,470 98,544 767,284
Investment Management Fees 715,365 1,068,885 2,307,980 2,901,543
Service Income 626,307 363,304 2,111,883 1,397,505
Income from investment in subsidiaries 0   0  
Total Revenue 1,347,172 1,676,659 4,518,407 5,066,332
Affiliate expense (158,291)   (237,857)  
Gross Profit 1,188,881 1,676,659 4,280,550 5,066,332
Expense        
Cost of services 9,533 29,166 302,981 87,396
Professional services 108,468 123,077 328,852 352,881
Depreciation and amortization 21,724 21,594 65,171 89,098
General and administrative 122,081 342,024 389,200 896,439
Marketing 23,188 23,249 91,029 56,029
Compensation expense 1,195,671 1,535,930 3,865,677 4,271,396
Total Expense 1,480,665 2,075,040 5,042,910 5,753,239
Net Operating Income (Loss) (291,784) (398,381) (762,360) (686,907)
Other Income        
PPP Loan forgiveness 339,070 661,045 339,070 661,045
Total Other Income 339,070 661,045 339,070 661,045
Other Expense        
Interest Expense (290) (1,538) (2,450) (3,808)
Income Taxes 0 7,634 0 4,033
Loss on impairment of Goodwill   (7,380,603)   (7,380,603)
Net Other Expense (290) (7,374,507) (2,450) (7,380,378)
Net Income/(Loss) 46,996 $ (7,111,843) (425,740) $ (7,406,240)
Financial Gravity Family Office Services [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0   0  
Investment Management Fees 509,888   1,171,939  
Service Income 42,958   100,033  
Income from investment in subsidiaries 0   0  
Total Revenue 552,846   1,271,972  
Affiliate expense 0   0  
Gross Profit 552,846   1,271,972  
Expense        
Cost of services 0   0  
Professional services 0   (1,299)  
Depreciation and amortization 0   0  
General and administrative (3,572)   (1,851)  
Marketing 0   0  
Compensation expense 187,614   539,097  
Total Expense 184,042   535,947  
Net Operating Income (Loss) 368,804   736,025  
Other Income        
PPP Loan forgiveness 0   0  
Total Other Income 0   0  
Other Expense        
Interest Expense 0   0  
Income Taxes 0   0  
Net Other Expense 0   0  
Net Income/(Loss) 368,804   736,025  
Financial Gravity Investment Services [Member]        
Segment Reporting Information [Line Items]        
Broker Dealer 0   0  
Investment Management Fees 0   2,203  
Service Income 0   30,000  
Income from investment in subsidiaries 0   0  
Total Revenue   32,203  
Affiliate expense 0   0  
Gross Profit 0   32,203  
Expense        
Cost of services 0   0  
Professional services 0   0  
Depreciation and amortization 0   0  
General and administrative (4,863)   (4,863)  
Marketing 0   0  
Compensation expense 0   0  
Total Expense (4,863)   (4,863)  
Net Operating Income (Loss) 4,863   37,066  
Other Income        
PPP Loan forgiveness 0   0  
Total Other Income 0   0  
Other Expense        
Interest Expense 0   0  
Income Taxes 0   0  
Net Other Expense 0   0  
Net Income/(Loss) $ 4,863   $ 37,066