SEGMENT REPORTING

9 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

3. SEGMENT REPORTING

We manage our business in reportable segments. Each of our active subsidiaries is treated as a segment. We evaluate the performance of our operating segments based on a segment’s share of consolidated operating income. Therefore, for instance, Company has determined that Forta will underperform and has decided to end its operations, which is in progress.

CONSOLIDATING STATEMENTS OF OPERATIONS

FOR THREE MONTHS ENDED JUNE 30, 2021

	FGC			Forta			FGAM (Sofos)		FGEM (MPath)		TMN		TOTAL
Income
Broker Dealer	$	–		$	244,470		$	–	$	–	$	–	$	244,470
Investment Management Fees		–			515,416			553,469		–		–		1,068,885
Service Income		–			45,753			683		38,453		278,415		363,304
Total Revenue		–			805,639			554,152		38,453		278,415		1,676,659
Gross Profit		–			805,639			554,152		38,453		278,415		1,676,659
Expense
Cost of services		–			18,310			–		–		10,856		29,166
Professional services		54,551			49,690			3,889		–		14,947		123,077
Depreciation and amortization		5,105			125			–		–		16,364		21,594
General and administrative		119,793			190,688			4,462		7,386		19,695		342,024
Marketing		7,488			5,234			–		681		9,846		23,249
Compensation expense		484,310			723,070			219,200		10,850		98,500		1,535,930
Total Expense		671,247			987,117			227,551		18,917		170,208		2,075,040
Net Operating Income (Loss)		(671,247	)		(181,478	)		326,601		19,536		108,207		(398,381	)
Other Income
PPP Loan forgiveness		283,345			377,700			–		–		–		661,045
Total Other Income		283,345			377,700			–		–		–		661,045
Other Expense
Interest expense		(903	)		(635	)		–		–		–		(1,538	)
Income tax revenue (expense)		64,562			(56,928	)		–		–		–		7,634
Loss on impairment of Goodwill		(7,380,603	)		–			–		–		–		(7,380,603	)
Net Other Expense		(7,316,944	)		(57,563	)		–		–		–		(7,374,507	)
Net Income/(Loss)	$	(7,704,846	)	$	138,659		$	326,601	$	19,536	$	108,207	$	(7,111,843	)

CONSOLIDATING STATEMENTS OF OPERATIONS

FOR THREE MONTHS ENDED JUNE 30, 2022

	Eliminations			FGC			Forta			FGAM (Sofos)			FGFOS			FGEM (MPath)		TMN		FGIS			TOTAL
Income
Broker Dealer	$	–		$	–		$	5,500		$	–		$	–		$	–	$	–	$	–		$	5,500
Investment Management Fees		(76,275	)		–			10,535			271,217			509,888			–		–		–			715,365
Service Income		–			–			20,223			104,803			42,958			219,982		238,341		–			626,307
Income from investment in subsidiaries		(327,624	)		327,624			–			–			–			–		–		–			–
Total Revenue		(403,899	)		327,624			36,258			376,020			552,846			219,982		238,341		–			1,347,172
Affiliate expense		76,275			–			–			(234,566	)		–			–		–		–			(158,291	)
Gross Profit		(327,624	)		327,624			36,258			141,454			552,846			219,982		238,341		–			1,188,881
Expense
Cost of services		–			–			–			–			–			–		9,533		–			9,533
Professional services		–			89,892			4,120			261			–			–		14,195		–			108,468
Depreciation and amortization		–			5,360			–			–			–			–		16,364		–			21,724
General and administrative		–			89,904			18,206			15,801			(3,572	)		5,219		1,386		(4,863	)		122,081
Marketing		–			20,291			69			–			–			735		2,093		–			23,188
Compensation expense		–			781,490			25,239			25,567			187,614			103,761		72,000		–			1,195,671
Total Expense		–			986,937			47,634			41,629			184,042			109,715		115,571		(4,863	)		1,480,665
Net Operating Income (Loss)		(327,624	)		(659,313	)		(11,376	)		99,825			368,804			110,267		122,770		4,863			(291,784	)
Other Income
PPP Loan forgiveness		–			–			339,070			–			–			–		–		–			339,070
Total Other Income		–			–			339,070			–			–			–		–		–			339,070
Other Expense
Interest Expense		–			(218	)		(72	)		–			–			–		–		–			(290	)
Income Taxes		–			–			–			–			–			–		–		–			–
Net Other Expense		–			(218	)		(72	)		–			–			–		–		–			(290	)
Net Income/(Loss)	$	(327,624	)	$	(659,531	)	$	327,622		$	99,825		$	368,804		$	110,267	$	122,770	$	4,863		$	46,996

CONSOLIDATING STATEMENTS OF OPERATIONS

FOR NINE MONTHS ENDED JUNE 30, 2021

	Eliminations		FGC			Forta			FGAM (Sofos)		FGEM (MPath)		TMN		TOTAL
Income
Broker Dealer	$	–	$	–		$	767,284		$	–	$	–	$	–	$	767,284
Investment Management Fees		–		–			1,422,745			1,478,798		–		–		2,901,543
Service Income		–		–			114,570			683		365,131		917,121		1,397,505
Total Revenue		–		–			2,304,599			1,479,481		365,131		917,121		5,066,332
Gross Profit		–		–			2,304,599			1,479,481		365,131		917,121		5,066,332
Expense
Cost of services		–		–			45,846			11,074		–		30,476		87,396
Professional services		–		169,303			137,628			3,889		175		41,886		352,881
Depreciation and amortization		–		60,083			284			–		–		28,731		89,098
General and administrative		–		201,983			569,240			16,670		16,707		91,839		896,439
Marketing		–		17,525			17,584			132		1,135		19,653		56,029
Compensation expense		–		1,389,281			1,959,331			531,973		96,311		294,500		4,271,396
Total Expense		–		1,838,175			2,729,913			563,738		114,328		507,085		5,753,239
Net Operating Income (Loss)		–		(1,838,175	)		(425,314	)		915,743		250,803		410,036		(686,907	)
Other Income
PPP Loan forgiveness		–		283,345			377,700			–		–		–		661,045
Total Other Income		–		283,345			377,700			–		–		–		661,045
Other Expense
Interest expense		–		(3,173	)		(635	)		–		–		–		(3,808	)
Income tax revenue (expense)		–		(199,821	)		203,854			–		–		–		4,033
Loss on impairment of Goodwill		–		(7,380,603	)		–			–		–		–		(7,380,603	)
Net Other Expense		–		(7,583,597	)		203,219			–		–		–		(7,380,378	)
Net Income/(Loss)	$	–	$	(9,138,427	)	$	155,605		$	915,743	$	250,803	$	410,036	$	(7,406,240	)

CONSOLIDATING STATEMENTS OF OPERATIONS

FOR NINE MONTHS ENDED JUNE 30, 2022

	Eliminations			FGC			Forta			FGAM (Sofos)			FGFOS			FGEM (MPath)		TMN		FGIS			TOTAL
Income
Broker Dealer	$	–		$	–		$	98,544		$	–		$	–		$	–	$	–	$	–		$	98,544
Investment Management Fees		(149,201	)		–			87,517			1,195,522			1,171,939			–		–		2,203			2,307,980
Service Income		–			–			93,216			249,963			100,033			808,104		830,567		30,000			2,111,883
Income from investment in subsidiaries		49,432			(49,432	)		–			–			–			–		–		–			–
Total Revenue		(99,769	)		(49,432	)		279,277			1,445,485			1,271,972			808,104		830,567		32,203			4,518,407
Affiliate expense		149,201			–			–			(387,058	)		–			–		–		–			(237,857	)
Gross Profit		49,432			(49,432	)		279,277			1,058,427			1,271,972			808,104		830,567		32,203			4,280,550
Expense
Cost of services		–			(237	)		259,087			11,764			–			–		32,367		–			302,981
Professional services		–			187,869			124,055			3,447			(1,299	)		–		14,780		–			328,852
Depreciation and amortization		–			15,884			194			–			–			–		49,093		–			65,171
General and administrative		–			266,495			57,032			44,278			(1,851	)		20,483		7,626		(4,863	)		389,200
Marketing		–			60,192			69			–			–			2,097		28,671		–			91,029
Compensation expense		–			2,267,444			225,662			313,004			539,097			256,720		263,750		–			3,865,677
Total Expense		–			2,797,647			666,099			372,493			535,947			279,300		396,287		(4,863	)		5,042,910
Net Operating Income (Loss)		49,432			(2,847,079	)		(386,822	)		685,934			736,025			528,804		434,280		37,066			(762,360	)
Other Income
PPP Loan forgiveness		–			–			339,070			–			–			–		–		–			339,070
Total Other Income		–			–			339,070			–			–			–		–		–			339,070
Other Expense
Interest Expense		–			(771	)		(1,679	)		–			–			–		–		–			(2,450	)
Income Taxes		–			–			–			–			–			–		–		–			–
Net Other Expense		–			(771	)		(1,679	)		–			–			–		–		–			(2,450	)
Net Income/(Loss)	$	(49,432	)	$	(2,847,850	)	$	(49,431	)	$	685,934		$	736,025		$	528,804	$	434,280	$	37,066		$	(425,740	)