Revenue, Cost of Revenue and Major Customers

6 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 9 – Revenue, Cost of Revenue and Major Customers

Fuse Group and Processing provide consulting services to mining industry clients to find mine acquisition targets within the parameters set by the clients, in circumstances in which the mine owner is considering selling its mining rights.  The services of Fuse Group and Processing include due diligence on the potential mine seller and the mine, such as ownership of the mine and whether the mine meets all operation requirements and/or is currently in operation.

Cost of revenue mainly consisted of the management’s travel expenses to visit these mines and consulting expenses paid for mine expertise during the mine due diligence period.

For the six months ended March 31, 2021 and 2020, the Company recorded revenue of $350,000 and $450,000 for the services provided, respectively. For the three months ended March 31, 2021 and 2020, the Company recorded revenue of $250,000 and $200,000 for the services provided, respectively. 

For the six months ended March 31, 2021, the Company had two customers which accounted for 71% and 29% of the Company’s total revenue. For the six months ended March 31, 2020, the Company had one customer which accounted for 100% of the Company’s total revenue.

For the three months ended March 31, 2021 and 2020, the Company had one customer which accounted for 100% and 100% of the Company’s total revenue.