Energy Services of America (ESOA) 10-Q16 Aug 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 15, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity Registrant Name	Energy Services of America Corporation
Entity Central Index Key	0001357971
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4606266
Entity Address, Address Line One	75 West 3rd Ave
Entity Address, City or Town	Huntington
Entity Address, Postal Zip Code	25701
Entity Address, State or Province	WV
City Area Code	304
Local Phone Number	522-3868
Title of 12(g) Security	None
Trading Symbol	esoa
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,621,406
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Current assets
Cash and cash equivalents	$ 2,270,648	$ 11,216,820
Accounts receivable-trade	14,310,834	18,246,989
Allowance for doubtful accounts	(70,310)	(70,310)
Retainages receivable	1,007,946	2,483,809
Other receivables	1,112,957	9,458
Contract assets	7,220,307	6,545,863
Prepaid expenses and other	4,114,448	3,338,943
Total current assets	29,966,830	41,771,572
Property, plant and equipment, at cost	59,615,461	53,324,843
less accumulated depreciation	(37,124,573)	(36,933,129)
Net fixed assets	22,490,888	16,391,714
Acquired intangible assets, net	400,000
Goodwill	4,220,828
Total assets	57,078,546	58,163,286
Current liabilities
Current maturities of long-term debt	3,305,516	4,028,900
Lines of credit and short term borrowings	2,345,385	509,843
Accounts payable	3,115,084	5,222,222
Accrued expenses and other current liabilities	2,902,809	4,237,172
Contract liabilities	3,628,628	4,851,900
Income tax payable	50,000
Total current liabilities	15,347,422	18,850,037
Long-term debt, less current maturities	7,074,679	11,233,705
Net deferred income tax liability	1,710,059	2,255,515
Total liabilities	24,132,160	32,339,257
Shareholders' equity
Preferred stock, $.0001 par value Authorized 1,000,000 shares, 206 issued at June 30, 2021 and September 30, 2020
Common stock, $.0001 par value Authorized 50,000,000 shares 14,839,836 issued and 13,621,406 outstanding at June 30, 2021 and September 30, 2020	1,484	1,484
Treasury stock, 1,218,430 shares at June 30, 2021 and September 30, 2020	(122)	(122)
Additional paid in capital	60,670,699	60,670,699
Retained deficit	(27,725,675)	(34,848,032)
Total shareholders' equity	32,946,386	25,824,029
Total liabilities and shareholders' equity	$ 57,078,546	$ 58,163,286

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2021	Sep. 30, 2020
Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	206	206
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	14,839,836	14,839,836
Common stock, shares outstanding	13,621,406	13,621,406
Treasury stock, shares	1,218,430	1,218,430

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Consolidated Statements of Income
Revenue	$ 25,285,951	$ 30,762,725	$ 82,901,159	$ 74,678,432
Cost of revenues	22,580,340	27,936,548	75,478,966	69,425,044
Gross profit	2,705,611	2,826,177	7,422,193	5,253,388
Selling and administrative expenses	3,207,864	2,532,141	10,627,607	7,473,422
(Loss) income from operations	(502,253)	294,036	(3,205,414)	(2,220,034)
Other nonoperating income (expense)
Interest income	108	83	151,877	53,332
Paycheck Protection Program loan forgiveness	9,799,100		9,799,100
Other nonoperating expense	(35,833)	(53,793)	(121,343)	(130,472)
Interest expense	(136,995)	(101,335)	(356,505)	(400,197)
Gain on sale of equipment	135,269	43,296	627,580	563,062
Other nonoperating income (expense), Total	9,761,649	(111,749)	10,100,709	85,725
Income (loss) before income taxes	9,259,396	182,287	6,895,295	(2,134,309)
Income tax (benefit) expense	(53,844)	200,242	(458,812)	(347,629)
Net income (loss)	9,313,240	(17,955)	7,354,107	(1,786,680)
Dividends on preferred stock	77,250	77,250	231,750	231,750
Income (loss) available to common shareholders	$ 9,235,990	$ (95,205)	$ 7,122,357	$ (2,018,430)
Weighted average shares outstanding-basic	13,621,406	13,627,293	13,621,406	13,844,340
Weighted average shares-diluted	17,089,722	13,627,293	17,089,722	13,844,340
Earnings (loss) per share available to common shareholders	$ 0.678	$ (0.007)	$ 0.523	$ (0.146)
Earnings (loss) per share-diluted available to common shareholders	$ 0.540	$ (0.007)	$ 0.417	$ (0.146)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 7,354,107	$ (1,786,680)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense	3,469,723	3,315,541
Paycheck Protection Program loan forgiveness	(9,799,100)
Gain on sale of equipment	(627,580)	(563,062)
Provision for deferred taxes	(717,269)	15,618
Decrease in contracts receivable	3,936,155	3,742,051
Decrease in retainage receivable	1,475,863	1,761,554
Increase in other receivables	(1,103,499)	(300)
(Increase) decrease in contract assets	(674,444)	1,350,722
Increase in prepaid expenses	(775,505)	(1,517,581)
(Decrease) increase in accounts payable	(2,107,138)	3,218,314
Decrease in accrued expenses	(1,085,299)	(1,191,013)
(Decrease) increase in contract liabilities	(1,223,272)	2,478,050
Increase in income taxes payable	50,000
Net cash (used in) provided by operating activities	(1,827,258)	10,823,214
Cash flows from investing activities:
Acquisition of Revolt Energy	(150,000)
Acquisition of West Virginia Pipeline, net of cash received of $250,000	(3,250,000)
Investment in property and equipment	(7,385,469)	(2,666,570)
Proceeds from sales of property and equipment	693,291	718,006
Net cash used in investing activities	(10,092,178)	(1,948,564)
Cash flows from financing activities:
Dividends on common stock		(696,117)
Preferred dividends paid	(309,000)	(309,000)
Treasury stock purchased by company		(268,228)
Borrowings on lines of credit and short term debt, net of (repayments)	5,335,542	(2,751,102)
Proceeds from long term debt		9,839,100
Principal payments on long term debt	(2,053,278)	(10,007,813)
Net cash provided by (used in) financing activities	2,973,264	(4,193,160)
(Decrease) increase in cash and cash equivalents	(8,946,172)	4,681,490
Cash and cash equivalents beginning of period	11,216,820	4,578,275
Cash and cash equivalents end of period	2,270,648	9,259,765
Supplemental schedule of noncash investing and financing activities:
Purchases of property & equipment under financing agreements	349,139	626,384
Insurance premiums financed	3,213,402	3,063,543
Note payable for acquisition of West Virginia Pipeline	3,000,000
Note payable to refinance short-term borrowing	3,500,000
Accrued dividends on preferred stock	231,750	231,750
Debt assumed in acquisitions	205,829
Cash paid during the year for:
Interest	356,505	400,197
Income taxes	$ 229,611	$ 147,418

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parentheticals)	9 Months Ended
Consolidated Statements of Cash Flows (Parentheticals)	Jun. 30, 2021USD ($)
Consolidated Statements of Cash Flows
Cash received	$ 250,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Additional Paid in Capital	Retained Deficit	Treasury Stock	Total
Balance at Sep. 30, 2019	$ 1,484	$ 60,938,896	$ (36,275,932)	$ (91)	$ 24,664,357
Balance (in shares) at Sep. 30, 2019	13,924,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			(1,786,680)		(1,786,680)
Accrued preferred dividends			(231,750)		(231,750)
Dividends on common stock ($0.05 per share on 13,922,336 shares; 317,500 common shares are part of preferred units and were not eligible for the common dividend)			(696,117)		(696,117)
Treasury stock purchased by company		(268,197)		(31)	(268,228)
Treasury stock purchased by company (in shares)	(303,383)
Balance at Jun. 30, 2020	$ 1,484	60,670,699	(38,990,479)	(122)	21,681,582
Balance (in shares) at Jun. 30, 2020	13,621,406
Balance at Sep. 30, 2020	$ 1,484	60,670,699	(34,848,032)	(122)	25,824,029
Balance (in shares) at Sep. 30, 2020	13,621,406
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			7,354,107		7,354,107
Accrued preferred dividends			(231,750)		(231,750)
Balance at Jun. 30, 2021	$ 1,484	$ 60,670,699	$ (27,725,675)	$ (122)	$ 32,946,386
Balance (in shares) at Jun. 30, 2021	13,621,406

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical)	9 Months Ended
	Jun. 30, 2020$ / sharesshares
Consolidated Statements of Changes in Shareholders' Equity
Dividends on common stock, per share \| $ / shares	$ 0.05
Common stock, shares eligible for dividend (in shares)	13,922,336
Common stock, shares not eligible for dividend (in shares)	317,500

BUSINESS AND ORGANIZATION

BUSINESS AND ORGANIZATION	9 Months Ended
BUSINESS AND ORGANIZATION	Jun. 30, 2021
BUSINESS AND ORGANIZATION
BUSINESS AND ORGANIZATION	1. BUSINESS AND ORGANIZATION Energy Services of America Corporation (“Energy Services” or the “Company”) is a contractor and service company that operates primarily in the mid-Atlantic region of the United States and provides services to customers in the natural gas, petroleum, water distribution, automotive, chemical, and power industries. C.J. Hughes Construction Company, Inc. (“C.J. Hughes”), a wholly owned subsidiary of the Company, is a general contractor primarily engaged in pipeline construction for utility companies. Contractors Rental Corporation (“Contractors Rental”), a wholly owned subsidiary of C.J. Hughes, provides union building trade employees for projects managed by C.J. Hughes. Nitro Construction Services, Inc. (“Nitro”), a wholly owned subsidiary of C.J. Hughes, provides electrical, mechanical, HVAC/R, solar installation, and fire protection services to customers primarily in the automotive, chemical, and power industries. Pinnacle Technical Solutions, Inc. (“Pinnacle”), a wholly owned subsidiary of Nitro, operates as a data storage facility within Nitro’s office building. Pinnacle is supported by Nitro and has no employees of its own. All C.J. Hughes, Nitro, and Contractors Rental construction personnel are union members of various related construction trade unions and are subject to collective bargaining agreements that expire at varying time intervals. On December 31, 2020, Energy Services completed the purchase of West Virginia Pipeline, Inc. (“West Virginia Pipeline”), a West Virginia corporation located in Princeton, West Virginia. West Virginia Pipeline, a wholly owned subsidiary of Energy Services, operates as a gas and water distribution contractor primarily in southern West Virginia. West Virginia Pipeline’s employees are non-union, and the company is managed independently from C.J. Hughes and Nitro. On March 22, 2021, the Company established a new wholly owned subsidiary, SQP Construction Group, Inc. (“SQP”), that operates as a general contractor primarily in West Virginia. SQP engages in the construction and renovation of buildings and other civil construction projects for state and local government agencies and commercial customers. As a general contractor, SQP manages the overall construction project and subcontracts most of the work. On April 30, 2021, the Company’s Nitro subsidiary completed an asset purchase of Revolt Energy, Inc. (“Revolt Energy”), a West Virginia corporation located in Nitro, WV. Revolt Energy previously operated primarily as a residential solar installation company in southern West Virginia. As a division of Nitro, Revolt Energy continues to perform residential solar installations and has expanded its solar installation services to include commercial and industrial customers. Revolt Energy’s construction employees are members of the International Brotherhood of Electrical Workers. On June 30, 2021, the Company provided notice to all holders of the Company’s 6.0% Convertible Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”) that, subject to applicable law and in accordance with the Company’s certificate of incorporation, the Company intends to redeem all 206 shares of the Series A Preferred Stock, at a price equal to $25,000 per preferred share plus all accrued and unpaid dividends whether or not declared up to and excluding the Redemption Date of September 1, 2021 (the “Redemption Price”). Some or all of the 206 outstanding shares of Series A Preferred Stock may be converted into common stock of the Company (“Common Stock”) at the election of each shareholder. The conversion formula for each share of the Series A Preferred Stock is $25,000 plus all accrued but unpaid dividends up to, but excluding, September 1, 2021 divided by the Conversion Price of $1.50. Cash will be issued in lieu of fractional shares at a rate of $1.50 multiplied by the fractional share rounded to the nearest cent. Any shareholder electing conversion, in whole or in part, must return a notice of conversion to the Company at least two Full conversion of the Series A Preferred Stock would result in the issuance of approximately 3,468,316 new shares of the Company’s common stock, which are included in the Company’s diluted earnings per share calculation. The Company’s stock is quoted under the symbol “ESOA” on the OTC QB marketplace operated by the OTC Markets Group. Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Company’s audited consolidated financial statements and footnotes thereto for the years ended September 30, 2020, and 2019 included in the Company’s Annual Report on Form 10-K filed with the SEC on January 4, 2021. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to the interim financial reporting rules and regulations of the SEC. The financial statements reflect all adjustments (consisting primarily of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s financial position and results of operations. The operating results for the three and nine months ended June 30, 2021, and 2020 are not necessarily indicative of the results to be expected for the full year or any other interim period. Principles of Consolidation The consolidated financial statements of Energy Services include the accounts of Energy Services, its wholly owned subsidiaries West Virginia Pipeline, SQP and C.J. Hughes and its subsidiaries, Contractors Rental, Nitro, and Pinnacle. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services, West Virginia Pipeline, SQP, and C.J. Hughes and its subsidiaries.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
REVENUE RECOGNITION	Jun. 30, 2021
REVENUE RECOGNITION
REVENUE RECOGNITION	2. REVENUE RECOGNITION Our revenue is primarily derived from construction contracts that can span several quarters. We recognize revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606” or “Topic 606”) which provides for a five-step model for recognizing revenue from contracts with customers as follows: 1. Identify the contract 2. Identify performance obligations 3. Determine the transaction price 4. Allocate the transaction price 5. Recognize revenue The accuracy of our revenue and profit recognition in any given period depends on the accuracy of our estimates of the cost to complete each project. We believe our experience allows us to create materially reliable estimates. There are multiple factors that can contribute to changes in estimates of contract cost and profitability. The most significant of these include: ● the completeness and accuracy of the original bid; ● costs associated with scope changes; ● changes in costs of labor and/or materials; ● extended overhead and other costs due to owner, weather, and other delays; ● subcontractor performance issues; ● changes in productivity expectations; ● site conditions that differ from those assumed in the original bid; ● changes from original design on design-build projects; ● the availability and skill level of workers in the geographic location of the project; ● a change in the availability and proximity of equipment and materials; ● our ability to fully and promptly recover on affirmative claims and back charges for additional contract costs; and ● the customer’s ability to properly administer the contract. The foregoing factors, as well as the stage of completion of contracts in process and the mix of contracts at different margins may cause fluctuations in gross profit from period to period. Significant changes in cost estimates, particularly in our larger, more complex projects have had, and can in future periods have, a significant effect on our profitability. Our contract assets may include cost and estimated earnings in excess of billings that represent amounts earned and reimbursable under contracts, including claim recovery estimates, but have a conditional right for billing and payment such as achievement of milestones or completion of the project. With the exception of customer affirmative claims, generally, such unbilled amounts will become billable according to the contract terms and generally will be billed and collected over the next three months. Settlement with the customer of outstanding affirmative claims is dependent on the claims resolution process and could extend beyond one year. Based on our historical experience, we generally consider the collection risk related to billable amounts to be low. When events or conditions indicate that it is probable that the amounts outstanding become unbillable, the transaction price and associated contract asset is reduced. Our contract liabilities may consist of provisions for losses and billings in excess of costs and estimated earnings. Provisions for losses are recognized in the consolidated statements of income at the uncompleted performance obligation level for the amount of total estimated losses in the period that evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. Billings in excess of costs and estimated earnings are billings to customers on contracts in advance of work performed, including advance payments negotiated as a contract condition. Generally, unearned project-related costs will be earned over the next twelve months.

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	9 Months Ended
DISAGGREGATION OF REVENUE	Jun. 30, 2021
DISAGGREGATION OF REVENUE
DISAGGREGATION OF REVENUE	3. DISAGGREGATION OF REVENUE We disaggregate our revenue based on our operating groups and contract types as it is the format that is regularly reviewed by management. Our reportable operating groups are Gas & Water Distribution, Gas & Petroleum Transmission, Electrical, Mechanical, & General services and construction. The operating groups for the three and nine months ended June 30, 2020, have been revised to reflect the current presentation. Our contract types are: Lump Sum, Unit Price, Cost Plus and Time and Materials (“T&M”). The following tables present our disaggregated revenue for the three and nine months ended June 30, 2021, and 2020: Three Months Ended June 30, 2021 Electrical, Gas &Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 6,622,372 $ 6,622,372 Unit price contracts 11,645,327 1,967,647 — 13,612,974 Cost plus and T&M contracts 135,659 — 4,914,946 5,050,605 Total revenue from contracts $ 11,780,986 $ 1,967,647 $ 11,537,318 $ 25,285,951 Earned over time $ 10,783,990 $ 1,967,647 $ 11,283,091 $ 24,034,728 Earned at point in time 996,996 — 254,227 1,251,223 Total revenue from contracts $ 11,780,986 $ 1,967,647 $ 11,537,318 $ 25,285,951 Three Months Ended June 30, 2020 Electrical, Gas &Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 9,042,393 $ 9,042,393 Unit price contracts 4,736,935 12,936,299 — 17,673,234 Cost plus and T&M contracts 130,250 — 3,916,848 4,047,098 Total revenue from contracts $ 4,867,185 $ 12,936,299 $ 12,959,241 $ 30,762,725 Earned over time $ 2,024,539 $ 12,936,299 $ 12,658,556 $ 27,619,394 Earned at point in time 2,842,646 — 300,685 3,143,331 Total revenue from contracts $ 4,867,185 $ 12,936,299 $ 12,959,241 $ 30,762,725 Nine Months Ended June 30, 2021 Electrical, Gas & Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 26,305,242 $ 26,305,242 Unit price contracts 26,961,292 13,134,007 — 40,095,299 Cost plus and T&M contracts 556,471 1,209,244 14,734,903 16,500,618 Total revenue from contracts $ 27,517,763 $ 14,343,251 $ 41,040,145 $ 82,901,159 Earned over time $ 20,638,965 $ 13,134,007 $ 40,339,679 $ 74,112,651 Earned at point in time 6,878,798 1,209,244 700,466 8,788,508 Total revenue from contracts $ 27,517,763 $ 14,343,251 $ 41,040,145 $ 82,901,159 Nine Months Ended June 30, 2020 Electrical, Gas & Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 23,867,792 $ 23,867,792 Unit price contracts 16,750,984 21,063,691 — 37,814,675 Cost plus and T&M contracts 355,352 116,428 12,524,185 12,995,965 Total revenue from contracts $ 17,106,336 $ 21,180,119 $ 36,391,977 $ 74,678,432 Earned over time $ 10,083,330 $ 21,063,691 $ 35,634,089 $ 66,781,110 Earned at point in time 7,023,006 116,428 757,888 7,897,322 Total revenue from contracts $ 17,106,336 $ 21,180,119 $ 36,391,977 $ 74,678,432

CONTRACT BALANCES

CONTRACT BALANCES	9 Months Ended
CONTRACT BALANCES	Jun. 30, 2021
CONTRACT BALANCES
CONTRACT BALANCES	4. CONTRACT BALANCES The Company’s accounts receivable consists of amounts that have been billed to customers. Collateral is generally not required. Most of the Company’s contracts have monthly billing terms and payment terms within 30 to 45 days after invoices have been issued. The Company attempts to negotiate two-week billing terms and 15-day payment terms on larger projects. The timing of billings to customers may generate contract assets or contract liabilities. During the nine months ended June 30, 2021, we recognized revenue of $5.0 million that was included in the contract liability balance at September 30, 2020. Accounts receivable-trade, net of allowance for doubtful accounts, retentions September 30, 2020 June 30, 2021 Change Accounts receivable-trade, net of allowance for doubtful accounts $ 18,176,679 $ 14,240,524 $ (3,936,155) Contract assets Cost and estimated earnings in excess of billings $ 6,545,863 $ 7,220,307 $ 674,444 Contract liabilities Billings in excess of cost and estimated earnings $ 4,851,900 $ 3,628,628 $ (1,223,272)

PERFORMANCE OBLIGATIONS

PERFORMANCE OBLIGATIONS	9 Months Ended
PERFORMANCE OBLIGATIONS	Jun. 30, 2021
PERFORMANCE OBLIGATIONS
PERFORMANCE OBLIGATIONS	5. PERFORMANCE OBLIGATIONS The Company provides construction services that can be classified into several groups: Gas & Water Distribution, Gas & Petroleum Transmission, Electrical. Mechanical, & General services and construction. Generally, our contracts contain one performance obligation that is satisfied over time because our performance typically creates or enhances an asset that the customer controls as the asset is created or enhanced. We recognize revenue as performance obligations are satisfied and control of the promised good and service is transferred to the customer. Revenue is ordinarily recognized over time as control is transferred to the customers by measuring the progress toward complete satisfaction of the performance obligation(s) using an input (i.e., “cost-to-cost”) method. Under the cost-to-cost method, costs incurred to-date are generally the best depiction of transfer of control. All contract costs, including those associated with affirmative claims, change orders and back charges, are recorded as incurred and revisions to estimated total costs are reflected as soon as the obligation to perform is determined. Contract costs consist of direct costs on contracts, including labor and materials, amounts payable to subcontractors, direct overhead costs and equipment expense (primarily depreciation, fuel, maintenance and repairs). During the nine months ended June 30, 2021, we recognized revenue of $1.0 million as a result of changes in contract transaction price related to performance obligations that were satisfied prior to September 30, 2020. The changes in contract transaction price were from items such as changes in projected profit, executed or estimated change orders, and unresolved contract modifications and claims. The Company does not sell warranties for its construction services. At June 30, 2021, the Company had $23.1 million in remaining unsatisfied performance obligations, in which revenue is expected to be recognized in less than twelve months.

UNCOMPLETED CONTRACTS

UNCOMPLETED CONTRACTS	9 Months Ended
UNCOMPLETED CONTRACTS	Jun. 30, 2021
UNCOMPLETED CONTRACTS
UNCOMPLETED CONTRACTS	6. UNCOMPLETED CONTRACTS Costs, estimated earnings, and billings on uncompleted contracts as of June 30, 2021, and September 30, 2020, are summarized as follows: June 30, September 30, 2021 2020 Costs incurred on contracts in progress $ 67,396,751 $ 74,996,405 Estimated earnings, net of estimated losses 13,168,286 16,067,668 80,565,037 91,064,073 Less billings to date 76,973,358 89,370,110 $ 3,591,679 $ 1,693,963 Costs and estimated earnings in excess of billed on uncompleted contracts $ 7,220,307 $ 6,545,863 Less billings in excess of costs and estimated earnings on uncompleted contracts 3,628,628 4,851,900 $ 3,591,679 $ 1,693,963 Backlog at June 30, 2021, and September 30, 2020, was $73.1 million and $63.8 million, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Jun. 30, 2021
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	7. FAIR VALUE MEASUREMENTS The Fair Value Measurements and Disclosures Topic Under the FASB’s authoritative guidance on fair value measurements, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Fair Value Measurements Topic of the FASB Accounting Standards Codification establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date.The three levels are defined as follows: Level 1 Level 2 Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The carrying amount for borrowings under the Company’s revolving credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. The fair value of the Company’s long term fixed-rate debt to unrelated parties was estimated using a discounted cash flow analysis and a yield rate that was estimated based on the borrowing rates for bank loans with similar terms and maturities. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $7.4 million at June 30, 2021, was $7.3 million. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $15.8 million at September 30, 2020, was $14.8 million. All receivables and payables are carried at net realizable value which approximates fair value because of their short duration to maturity.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
EARNINGS (LOSS) PER SHARE	Jun. 30, 2021
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	8. EARNINGS (LOSS) PER SHARE The amounts used to compute the earnings (loss) per share for the three and nine months ended June 30, 2021, and 2020 are summarized below. Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Net income (loss) $ 9,313,240 $ (17,955) $ 7,354,107 $ (1,786,680) Dividends on preferred stock 77,250 77,250 231,750 231,750 Net income (loss) available to common shareholders $ 9,235,990 $ (95,205) $ 7,122,357 $ (2,018,430) Weighted average shares outstanding-basic 13,621,406 13,627,293 13,621,406 13,844,340 Weighted average shares-diluted 17,089,722 13,627,293 17,089,722 13,844,340 Earnings (loss) per share available to common shareholders $ 0.678 $ (0.007) $ 0.523 $ (0.146) Earnings (loss) per share available to common shareholders-diluted $ 0.540 $ (0.007) $ 0.417 $ (0.146)

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Jun. 30, 2021
INCOME TAXES
INCOME TAXES	9. INCOME TAXES The components of income taxes are as follows: Three Months Ended June 30, 2021 2020 Federal Current $ (433,621) $ 92,332 Deferred 390,724 63,854 Total $ (42,897) $ 156,186 State Current $ (120,532) $ 26,045 Deferred 109,585 18,011 Total $ (10,947) $ 44,056 Total income tax (benefit) expense $ (53,844) $ 200,242 Nine Months Ended June 30, 2021 2020 Federal Current $ (917,344) $ (258,971) Deferred 559,471 (12,182) Total $ (357,873) $ (271,153) State Current $ (258,738) $ (73,040) Deferred 157,799 (3,436) Total $ (100,939) $ (76,476) Total income tax benefit $ (458,812) $ (347,629) The effective income tax rate for the three months ended June 30, 2021, was (0.6)%, as compared to 109.8% for the same period in 2020. The effective income tax rate for the nine months ended June 30, 2021, was (6.7%), as compared to 16.3% for the same period in 2020. Effective income tax rates are estimates and may vary from period to period due to changes in the amount of taxable income and non-deductible expenses. On June 16, 2021, the Company received notice that the SBA had granted forgiveness and repaid $9.8 million of Payroll Protection Program (“PPP”) borrowings to its lender. The forgiveness was recorded as “other nonoperating income” for the three and nine months ended June 30, 2021. According to the CARES Act passed by Congress in March 2020, PPP loan forgiveness is not taxable. In accordance with the Consolidated Appropriations Act, 2021, the Company’s PPP related expenditures in fiscal year 2020 were considered deductible expenses for federal income tax purposes. The PPP forgiveness had a significant impact on the effective income tax rate for the three and nine months ended June 30, 2021, as taxable income was decreased by $9.8 million. Per diem paid to employees on construction projects and entertainment expenses are only partially deductible from taxable income and can have a significant impact on the effective tax rate. For the nine months ended June 30, 2021, the non-deductible portion of per diem and entertainment expenses resulted in an approximate $402,000 increase in taxable income as compared to $312,000 for the same period in 2020. The income tax effects of temporary differences giving rise to the deferred tax assets and liabilities are as follows: June 30, September 30, 2021 2020 Deferred income tax liabilities Long-term Property and equipment $ 3,375,025 $ 2,746,331 Other 23,235 — Total deferred income tax liabilities $ 3,398,260 $ 2,746,331 Deferred income tax assets Long-term Other $ 427,260 $ 490,816 Net operating loss carryforward 1,260,941 — Total deferred income tax assets $ 1,688,201 $ 490,816 Total net deferred income tax liabilities $ 1,710,059 $ 2,255,515 The Company and all subsidiaries file a consolidated federal and various state income tax returns on a fiscal year basis. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations for years ended prior to September 30, 2017. The Company does not believe that it has any unrecognized tax benefits included in its consolidated financial statements that require recognition. The Company has not had any settlements in the current period with taxing authorities, nor has it recognized tax benefits as a result of a lapse of the applicable statute of limitations. The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in selling and administrative expenses.

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	9 Months Ended
SHORT-TERM AND LONG-TERM DEBT	Jun. 30, 2021
SHORT-TERM AND LONG-TERM DEBT
SHORT-TERM AND LONG-TERM DEBT	10. SHORT-TERM AND LONG-TERM DEBT Short-term debt consists of the following: On August 3, 2021, the Company received a one-year extension on its line of credit (“Operating Line of credit (2021)”) effective June 28, 2021. The $15.0 million revolving line of credit has a $12.5 million component and a $2.5 million component, each with separate borrowing requirements. The interest rate on the line of credit is the “Wall Street Journal” Prime Rate (the index) with a floor of 4.99%. Based on the borrowing base calculation, the Company was able to borrow up to $6.4 million as of June 30, 2021. The Company had $1.0 million in borrowings on the line of credit, leaving $5.4 million available on the line of credit as of June 30, 2021. The interest rate at June 30, 2021, was 4.99%. Based on the borrowing base calculation, the Company was able to borrow up to $11.1 million as of September 30, 2020. The Company had no borrowings on the line of credit, leaving $11.1 million available on the line of credit as of September 30, 2020. The interest rate at September 30, 2020, was 4.99%. Major items excluded from the borrowing base calculation are receivables from bonded jobs and retainage as well as all items greater than ninety (90) days old. Line of credit borrowings are collateralized by the Company’s accounts receivable. Cash available under the line is calculated based on 70.0% of the Company’s eligible accounts receivable. Under the terms of the agreement, the Company must meet the following loan covenants to access the first $12.5 million: 1. Minimum tangible net worth of $19.0 million to be measured quarterly, 2. Minimum traditional debt service coverage of 1.25x to be measured quarterly on a rolling twelve- month basis, 3. Minimum current ratio of 1.50x to be measured quarterly, 4. Maximum debt to tangible net worth ratio (“TNW”) of 2.0x to be measured semi-annually, 5. Full review of accounts receivable aging report and work in progress. The results of the review shall be satisfactory to the lender in its sole and unfettered discretion. Under the terms of the agreement, the Company must meet the following additional requirements for draw requests causing the borrowings to exceed $12.5 million: 1. Minimum traditional debt service coverage of 2.0x to be measured quarterly on a rolling twelve-month basis, 2. Minimum tangible net worth of $21.0 million to be measured quarterly. The Company believes it was in compliance with all covenants for the $12.5 million component of Operating Line of Credit (2021) at June 30, 2021. The Company also finances insurance policy premiums on a short-term basis through a financing company. These insurance policies include workers’ compensation, general liability, automobile, umbrella, and equipment policies. The Company makes a down payment in January and finances the remaining premium amount over ten monthly payments. In January 2021, the Company financed $3.2 million in insurance premiums. At June 30, 2021, the remaining balance of the insurance premiums was $1.3 million. A summary of short-term and long-term debt as of June 30, 2021, and September 30, 2020, is as follows: June 30, September 30, 2021 2020 Line of credit payable to bank, monthly interest at 4.99%, renewed on August 3, 2021, effective June 28, 2021, final payment due by June 28, 2022, guaranteed by certain directors of the Company. $ 1,000,000 $ — Note payable to bank, due in monthly installments of $64,853 interest at 4.25%, final payment due by March 25, 2026 secured by receivables and equipment, guaranteed by certain directors of the Company. 3,342,069 — Notes payable to finance companies, due in monthly installments totaling $70,062 at June 30, 2021 and $44,781 at September 30, 2020, including interest ranging from 0.00% to 6.03%, final payments due July 2021 through August 2026, secured by equipment. 1,273,164 1,334,566 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $272,000 in FY 2021 and $254,922 in FY 2020, including interest rate at 3.50%, final payment made November 2020. 1,345,385 509,843 Notes payable to bank, due in monthly installments totaling $7,799, including interest at 4.82%, final payment due November 2034 secured by building and property. 922,931 967,665 Notes payable to bank, due in monthly installments totaling $11,602, including interest at 4.25%, final payment due November 2025 secured by building and property, guaranteed by certain directors of the Company. 559,583 644,172 Notes payable to bank for $9.84 million in Paycheck Protection Program (“PPP”) loan funds, of which $9.8 million was forgiven in June 2021. Remaining $40,000 was forgiven in July 2021 40,000 9,839,100 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment, guaranteed by certain directors of the Company. 1,155,461 1,983,911 Notes payable to bank, due in monthly installments totaling $46,482, including interest at 5.00%, final payment due September 2021 secured by equipment, guaranteed by certain directors of the Company. 86,987 493,191 Notes payable to David and Daniel Bolton, due in annual installments totaling $500,000, including interest at 3.25%, final payment due December 31, 2026, unsecured 3,000,000 — Total debt $ 12,725,580 $ 15,772,448 Less current maturities 5,650,901 4,538,743 Total long term debt $ 7,074,679 $ 11,233,705 On June 16, 2021, the Company received notice that the SBA had granted forgiveness and repaid $9.8 million of the PPP borrowings to its lender. The forgiveness was recorded as “other nonoperating income” for the three and nine months ended June 30, 2021.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Jun. 30, 2021
ACQUISITIONS
ACQUISITIONS	1 1. ACQUISITIONS On December 31, 2020, Energy Services completed an asset purchase of West Virginia Pipeline, which became a wholly owned subsidiary of Energy Services that operates as a gas and water distribution contractor primarily in southern West Virginia. Energy Services paid $3.5 million in cash and acquired a $3.0 million seller note with a term of five years with an interest rate of 3.25%. Previous owners, David Bolton and Daniel Bolton, have continued their roles as President and Vice President, respectively. The Company incurred approximately $150,000 in expenses related to the acquisition. West Virginia Pipeline earned revenues of $2.0 million and $3.2 million, respectively, for the three and nine months ended June 30, 2021. On April 30, 2021, the Company’s Nitro subsidiary completed an asset purchase of Revolt Energy, Inc. (“Revolt Energy”), a solar installation company located in Nitro, WV for $150,000 in cash. After the acquisition, Revolt Energy began to operate as a division within Nitro. Revolt Energy earned revenues of $300,000 for the three months ended June 30, 2021. ASC 805-10-50-2 requires public companies that present comparative financial statements to present pro forma financial statements as though the business combination that occurred during the current fiscal year had occurred as of the beginning of the comparable prior annual reporting period. As allowed under ASC 805-10-50-2, the Company finds this information impracticable to provide for the interim periods presented due to the lack of availability of meaningful financial statements of the acquired companies that comply with U.S. Generally Accepted Accounting Principles. Energy Services accounts for business combinations under the acquisition method in accordance with ASC Topic 805, Business Combinations. Accordingly, for each transaction, the purchase price is allocated to the fair value of the assets acquired and liabilities assumed as of the date of the acquisition. In conjunction with the adoption of Accounting Standards Update (“ASU”) 2015-16, upon receipt of final fair value estimates during the measurement period, which must be within one year of the acquisition date, Energy Services records any adjustments to the preliminary fair value estimates in the reporting period in which the adjustments are determined. The Company is continuing to finalize the purchase price allocations related to the West Virginia Pipeline and Revolt Energy acquisitions. Based on management’s preliminary valuation of tangible and intangible assets acquired and liabilities assumed, the purchase prices each acquisition is allocated in the tables below. These allocations are subject to change. West Virginia Pipeline Goodwill $ 4,220,829 Equipment and vehicles 1,565,000 Building 220,243 Land 64,757 Non-compete agreement 150,000 Customer list 150,000 Cash received in acquisition 250,000 Debt assumed in acquisition (120,829) Purchase price $ 6,500,000 Revolt Energy Equipment and vehicles $ 135,000 Non-compete agreement 100,000 Debt assumed in acquisition (85,000) Purchase price $ 150,000 West Virginia Pipeline’s past financial performance, experienced management and workforce and relationships with its customers made it an attractive acquisition for the Company. Going back to 1963, West Virginia Pipeline has a long history of excellent work performance in southern West Virginia. Their geographic region compliments Energy Services as the two companies rarely competed for work previously. The $4.2 million in goodwill generated by the acquisition is largely the result of the high return on capital generated by West Virginia Pipeline. While West Virginia Pipeline will be managed separately from the Company’s other union operations, it is expected that relationships built by all the companies will help provide new opportunities within the organization. Revolt Energy’s reputation as a leading solar installation company in southern West Virginia made it an attractive acquisition and greatly eased Nitro’s entry into the growing solar installation industry. Prior to the acquisition, Revolt installed the solar panels and subcontracted the electrical work. The acquisition will now allow Nitro to self-perform the complete solar installation process. Nitro’s and Revolt’s common union affiliations align to give Nitro flexibility on both solar installations and commercial electrical work.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS On July 1, 2021, the Company submitted equipment purchase invoices to United Bank in order to receive $3.0 million in loan proceeds from the Equipment Line of Credit 2021 agreement signed on January 5, 2021. On July 7, 2021, the Company received notification from United Bank that the remaining $40,000 in PPP loans borrowings were forgiven by the SBA. On August 3, 2021, the Company received a one-year extension on its line of credit (“Operating Line of credit (2021)”) effective June 28, 2021. Management has evaluated subsequent events through August 16, 2021, the date which the financial statements were available for issue. There have been no other material events during the period, other than noted above, that would either impact the results reflected in the report or the Company’s results going forward.

BUSINESS AND ORGANIZATION (Poli

BUSINESS AND ORGANIZATION (Policies)	9 Months Ended
BUSINESS AND ORGANIZATION (Policies)	Jun. 30, 2021
BUSINESS AND ORGANIZATION
Interim Financial Statements	Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the Company’s audited consolidated financial statements and footnotes thereto for the years ended September 30, 2020, and 2019 included in the Company’s Annual Report on Form 10-K filed with the SEC on January 4, 2021. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to the interim financial reporting rules and regulations of the SEC. The financial statements reflect all adjustments (consisting primarily of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s financial position and results of operations. The operating results for the three and nine months ended June 30, 2021, and 2020 are not necessarily indicative of the results to be expected for the full year or any other interim period.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of Energy Services include the accounts of Energy Services, its wholly owned subsidiaries West Virginia Pipeline, SQP and C.J. Hughes and its subsidiaries, Contractors Rental, Nitro, and Pinnacle. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services, West Virginia Pipeline, SQP, and C.J. Hughes and its subsidiaries.

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	9 Months Ended
DISAGGREGATION OF REVENUE (Tables)	Jun. 30, 2021
DISAGGREGATION OF REVENUE
Schedule of disaggregation of revenue	Three Months Ended June 30, 2021 Electrical, Gas &Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 6,622,372 $ 6,622,372 Unit price contracts 11,645,327 1,967,647 — 13,612,974 Cost plus and T&M contracts 135,659 — 4,914,946 5,050,605 Total revenue from contracts $ 11,780,986 $ 1,967,647 $ 11,537,318 $ 25,285,951 Earned over time $ 10,783,990 $ 1,967,647 $ 11,283,091 $ 24,034,728 Earned at point in time 996,996 — 254,227 1,251,223 Total revenue from contracts $ 11,780,986 $ 1,967,647 $ 11,537,318 $ 25,285,951 Three Months Ended June 30, 2020 Electrical, Gas &Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 9,042,393 $ 9,042,393 Unit price contracts 4,736,935 12,936,299 — 17,673,234 Cost plus and T&M contracts 130,250 — 3,916,848 4,047,098 Total revenue from contracts $ 4,867,185 $ 12,936,299 $ 12,959,241 $ 30,762,725 Earned over time $ 2,024,539 $ 12,936,299 $ 12,658,556 $ 27,619,394 Earned at point in time 2,842,646 — 300,685 3,143,331 Total revenue from contracts $ 4,867,185 $ 12,936,299 $ 12,959,241 $ 30,762,725 Nine Months Ended June 30, 2021 Electrical, Gas & Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 26,305,242 $ 26,305,242 Unit price contracts 26,961,292 13,134,007 — 40,095,299 Cost plus and T&M contracts 556,471 1,209,244 14,734,903 16,500,618 Total revenue from contracts $ 27,517,763 $ 14,343,251 $ 41,040,145 $ 82,901,159 Earned over time $ 20,638,965 $ 13,134,007 $ 40,339,679 $ 74,112,651 Earned at point in time 6,878,798 1,209,244 700,466 8,788,508 Total revenue from contracts $ 27,517,763 $ 14,343,251 $ 41,040,145 $ 82,901,159 Nine Months Ended June 30, 2020 Electrical, Gas & Water Gas & Petroleum Mechanical, & Total revenue Distribution Transmission General from contracts Lump sum contracts $ — $ — $ 23,867,792 $ 23,867,792 Unit price contracts 16,750,984 21,063,691 — 37,814,675 Cost plus and T&M contracts 355,352 116,428 12,524,185 12,995,965 Total revenue from contracts $ 17,106,336 $ 21,180,119 $ 36,391,977 $ 74,678,432 Earned over time $ 10,083,330 $ 21,063,691 $ 35,634,089 $ 66,781,110 Earned at point in time 7,023,006 116,428 757,888 7,897,322 Total revenue from contracts $ 17,106,336 $ 21,180,119 $ 36,391,977 $ 74,678,432

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	9 Months Ended
CONTRACT BALANCES (Tables)	Jun. 30, 2021
CONTRACT BALANCES
Schedule of accounts receivable-trade, net of allowance for doubtful accounts, retainages receivable, contract assets and contract liabilities	September 30, 2020 June 30, 2021 Change Accounts receivable-trade, net of allowance for doubtful accounts $ 18,176,679 $ 14,240,524 $ (3,936,155) Contract assets Cost and estimated earnings in excess of billings $ 6,545,863 $ 7,220,307 $ 674,444 Contract liabilities Billings in excess of cost and estimated earnings $ 4,851,900 $ 3,628,628 $ (1,223,272)

UNCOMPLETED CONTRACTS (Tables)

UNCOMPLETED CONTRACTS (Tables)	9 Months Ended
UNCOMPLETED CONTRACTS (Tables)	Jun. 30, 2021
UNCOMPLETED CONTRACTS
Schedule of costs, estimated earnings and billings on uncompleted contracts	June 30, September 30, 2021 2020 Costs incurred on contracts in progress $ 67,396,751 $ 74,996,405 Estimated earnings, net of estimated losses 13,168,286 16,067,668 80,565,037 91,064,073 Less billings to date 76,973,358 89,370,110 $ 3,591,679 $ 1,693,963 Costs and estimated earnings in excess of billed on uncompleted contracts $ 7,220,307 $ 6,545,863 Less billings in excess of costs and estimated earnings on uncompleted contracts 3,628,628 4,851,900 $ 3,591,679 $ 1,693,963

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
EARNINGS (LOSS) PER SHARE (Tables)	Jun. 30, 2021
EARNINGS (LOSS) PER SHARE
Schedule to compute (loss) earnings per share	Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, June 30, June 30, June 30, 2021 2020 2021 2020 Net income (loss) $ 9,313,240 $ (17,955) $ 7,354,107 $ (1,786,680) Dividends on preferred stock 77,250 77,250 231,750 231,750 Net income (loss) available to common shareholders $ 9,235,990 $ (95,205) $ 7,122,357 $ (2,018,430) Weighted average shares outstanding-basic 13,621,406 13,627,293 13,621,406 13,844,340 Weighted average shares-diluted 17,089,722 13,627,293 17,089,722 13,844,340 Earnings (loss) per share available to common shareholders $ 0.678 $ (0.007) $ 0.523 $ (0.146) Earnings (loss) per share available to common shareholders-diluted $ 0.540 $ (0.007) $ 0.417 $ (0.146)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
INCOME TAXES (Tables)	Jun. 30, 2021
INCOME TAXES
Schedule of components of income taxes	Three Months Ended June 30, 2021 2020 Federal Current $ (433,621) $ 92,332 Deferred 390,724 63,854 Total $ (42,897) $ 156,186 State Current $ (120,532) $ 26,045 Deferred 109,585 18,011 Total $ (10,947) $ 44,056 Total income tax (benefit) expense $ (53,844) $ 200,242 Nine Months Ended June 30, 2021 2020 Federal Current $ (917,344) $ (258,971) Deferred 559,471 (12,182) Total $ (357,873) $ (271,153) State Current $ (258,738) $ (73,040) Deferred 157,799 (3,436) Total $ (100,939) $ (76,476) Total income tax benefit $ (458,812) $ (347,629)
Schedule of income tax effects to deferred tax assets and liabilities	June 30, September 30, 2021 2020 Deferred income tax liabilities Long-term Property and equipment $ 3,375,025 $ 2,746,331 Other 23,235 — Total deferred income tax liabilities $ 3,398,260 $ 2,746,331 Deferred income tax assets Long-term Other $ 427,260 $ 490,816 Net operating loss carryforward 1,260,941 — Total deferred income tax assets $ 1,688,201 $ 490,816 Total net deferred income tax liabilities $ 1,710,059 $ 2,255,515

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	9 Months Ended
SHORT-TERM AND LONG-TERM DEBT (Tables)	Jun. 30, 2021
SHORT-TERM AND LONG-TERM DEBT
Schedule of summary of short-term and long-term debt	June 30, September 30, 2021 2020 Line of credit payable to bank, monthly interest at 4.99%, renewed on August 3, 2021, effective June 28, 2021, final payment due by June 28, 2022, guaranteed by certain directors of the Company. $ 1,000,000 $ — Note payable to bank, due in monthly installments of $64,853 interest at 4.25%, final payment due by March 25, 2026 secured by receivables and equipment, guaranteed by certain directors of the Company. 3,342,069 — Notes payable to finance companies, due in monthly installments totaling $70,062 at June 30, 2021 and $44,781 at September 30, 2020, including interest ranging from 0.00% to 6.03%, final payments due July 2021 through August 2026, secured by equipment. 1,273,164 1,334,566 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $272,000 in FY 2021 and $254,922 in FY 2020, including interest rate at 3.50%, final payment made November 2020. 1,345,385 509,843 Notes payable to bank, due in monthly installments totaling $7,799, including interest at 4.82%, final payment due November 2034 secured by building and property. 922,931 967,665 Notes payable to bank, due in monthly installments totaling $11,602, including interest at 4.25%, final payment due November 2025 secured by building and property, guaranteed by certain directors of the Company. 559,583 644,172 Notes payable to bank for $9.84 million in Paycheck Protection Program (“PPP”) loan funds, of which $9.8 million was forgiven in June 2021. Remaining $40,000 was forgiven in July 2021 40,000 9,839,100 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment, guaranteed by certain directors of the Company. 1,155,461 1,983,911 Notes payable to bank, due in monthly installments totaling $46,482, including interest at 5.00%, final payment due September 2021 secured by equipment, guaranteed by certain directors of the Company. 86,987 493,191 Notes payable to David and Daniel Bolton, due in annual installments totaling $500,000, including interest at 3.25%, final payment due December 31, 2026, unsecured 3,000,000 — Total debt $ 12,725,580 $ 15,772,448 Less current maturities 5,650,901 4,538,743 Total long term debt $ 7,074,679 $ 11,233,705

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
ACQUISITIONS (Tables)	Jun. 30, 2021
West Virginia Pipeline
Schedule of allocation of purchase price	Goodwill $ 4,220,829 Equipment and vehicles 1,565,000 Building 220,243 Land 64,757 Non-compete agreement 150,000 Customer list 150,000 Cash received in acquisition 250,000 Debt assumed in acquisition (120,829) Purchase price $ 6,500,000
Revolt Energy
Schedule of allocation of purchase price	Equipment and vehicles $ 135,000 Non-compete agreement 100,000 Debt assumed in acquisition (85,000) Purchase price $ 150,000

BUSINESS AND ORGANIZATION (Deta

BUSINESS AND ORGANIZATION (Details) - Series A Preferred Stock	1 Months Ended
	Jun. 30, 2021$ / sharesshares
Preferred stock, dividend rate	6.00%
Proposed redemption of shares (in shares) \| shares	206
Proposed redemption of shares, per share \| $ / shares	$ 25,000
Conversion Price \| $ / shares	$ 1.50
Number of business days	2 days
Shares issuance upon conversion (in shares) \| shares	3,468,316

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
DISAGGREGATION OF REVENUE (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue from contracts	$ 25,285,951	$ 30,762,725	$ 82,901,159	$ 74,678,432
Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	24,034,728	27,619,394	74,112,651	66,781,110
Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	1,251,223	3,143,331	8,788,508	7,897,322
Lump sum contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	6,622,372	9,042,393	26,305,242	23,867,792
Unit price contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	13,612,974	17,673,234	40,095,299	37,814,675
Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	5,050,605	4,047,098	16,500,618	12,995,965
Gas & Water Distribution
Disaggregation of Revenue [Line Items]
Total revenue from contracts	11,780,986	4,867,185	27,517,763	17,106,336
Gas & Water Distribution \| Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	10,783,990	2,024,539	20,638,965	10,083,330
Gas & Water Distribution \| Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	996,996	2,842,646	6,878,798	7,023,006
Gas & Water Distribution \| Unit price contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	11,645,327	4,736,935	26,961,292	16,750,984
Gas & Water Distribution \| Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	135,659	130,250	556,471	355,352
Gas & Petroleum Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts	1,967,647	12,936,299	14,343,251	21,180,119
Gas & Petroleum Transmission \| Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	1,967,647	12,936,299	13,134,007	21,063,691
Gas & Petroleum Transmission \| Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts			1,209,244	116,428
Gas & Petroleum Transmission \| Unit price contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	1,967,647	12,936,299	13,134,007	21,063,691
Gas & Petroleum Transmission \| Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts			1,209,244	116,428
Electrical, Mechanical & General
Disaggregation of Revenue [Line Items]
Total revenue from contracts	11,537,318	12,959,241	41,040,145	36,391,977
Electrical, Mechanical & General \| Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	11,283,091	12,658,556	40,339,679	35,634,089
Electrical, Mechanical & General \| Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	254,227	300,685	700,466	757,888
Electrical, Mechanical & General \| Lump sum contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	6,622,372	9,042,393	26,305,242	23,867,792
Electrical, Mechanical & General \| Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Total revenue from contracts	$ 4,914,946	$ 3,916,848	$ 14,734,903	$ 12,524,185

CONTRACT BALANCES (Details)

CONTRACT BALANCES (Details) - USD ($)	9 Months Ended
CONTRACT BALANCES (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
CONTRACT BALANCES
Accounts receivable-trade, net of allowance for doubtful accounts	$ 14,240,524		$ 18,176,679
Change in accounts receivable-trade, net of allowance for doubtful accounts	(3,936,155)	$ (3,742,051)
Contract assets
Cost and estimated earnings in excess of billings	7,220,307		6,545,863
Change in cost and estimated earnings in excess of billings	674,444	(1,350,722)
Contract liabilities
Billings in excess of cost and estimated earnings	3,628,628		$ 4,851,900
Change in billings in excess of cost and estimated earnings	$ (1,223,272)	$ 2,478,050

CONTRACT BALANCES - Additional

CONTRACT BALANCES - Additional Information (Details) $ in Millions	9 Months Ended
	Jun. 30, 2021USD ($)item
Contract Balances [Line Items]
Billing term \| item	2
Payment term	15 days
Recognized revenue included in contract liability \| $	$ 5
Minimum
Contract Balances [Line Items]
Billing And Payment Term	30 days
Maximum
Contract Balances [Line Items]
Billing And Payment Term	45 days

PERFORMANCE OBLIGATIONS (Detail

PERFORMANCE OBLIGATIONS (Details)	9 Months Ended
PERFORMANCE OBLIGATIONS (Details)	Jun. 30, 2021USD ($)
PERFORMANCE OBLIGATIONS
Recognized revenue	$ 1,000,000
Amount of remaining unsatisfied performance obligations	$ 23,100,000

UNCOMPLETED CONTRACTS - Summary

UNCOMPLETED CONTRACTS - Summary of costs, estimated earnings, and billings on uncompleted contracts (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
UNCOMPLETED CONTRACTS
Costs incurred on contracts in progress	$ 67,396,751	$ 74,996,405
Estimated earnings, net of estimated losses	13,168,286	16,067,668
Costs of uncompleted contracts including net estimated earnings	80,565,037	91,064,073
Less billings to date	76,973,358	89,370,110
Unbilled Contracts	3,591,679	1,693,963
Contract assets: Costs and estimated earnings in excess of billed on uncompleted contracts	7,220,307	6,545,863
Billings in excess of cost and estimated earnings	3,628,628	4,851,900
Unbilled contracts receivable	$ 3,591,679	$ 1,693,963

UNCOMPLETED CONTRACTS - Backlog

UNCOMPLETED CONTRACTS - Backlog (Details) - USD ($) $ in Millions	Jun. 30, 2021	Sep. 30, 2020
UNCOMPLETED CONTRACTS
Backlog	$ 73.1	$ 63.8

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2021	Sep. 30, 2020
FAIR VALUE MEASUREMENTS
Debt principal amount	$ 7.4	$ 15.8
Debt fair value	$ 7.3	$ 14.8

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
EARNINGS (LOSS) PER SHARE (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
EARNINGS (LOSS) PER SHARE
Net income (loss)	$ 9,313,240	$ (17,955)	$ 7,354,107	$ (1,786,680)
Dividends on preferred stock	77,250	77,250	231,750	231,750
Net income (loss) available to common shareholders	$ 9,235,990	$ (95,205)	$ 7,122,357	$ (2,018,430)
Weighted average shares outstanding-basic	13,621,406	13,627,293	13,621,406	13,844,340
Weighted average shares-diluted (in Shares)	17,089,722	13,627,293	17,089,722	13,844,340
Earnings (loss) per share available to common shareholders	$ 0.678	$ (0.007)	$ 0.523	$ (0.146)
Earnings (loss) per share available to common shareholders-diluted	$ 0.540	$ (0.007)	$ 0.417	$ (0.146)

INCOME TAXES - Components of in

INCOME TAXES - Components of income taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Federal
Current	$ (433,621)	$ 92,332	$ (917,344)	$ (258,971)
Deferred	390,724	63,854	559,471	(12,182)
Total	(42,897)	156,186	(357,873)	(271,153)
State
Current	(120,532)	26,045	(258,738)	(73,040)
Deferred	109,585	18,011	157,799	(3,436)
Total	(10,947)	44,056	(100,939)	(76,476)
Total income tax (benefit) expense	$ (53,844)	$ 200,242	$ (458,812)	$ (347,629)

INCOME TAXES - Summary of incom

INCOME TAXES - Summary of income tax effects of temporary differences giving rise to the deferred tax assets and liabilities (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Deferred income tax liabilities
Property and equipment	$ 3,375,025	$ 2,746,331
Other	23,235
Total deferred income tax liabilities	3,398,260	2,746,331
Deferred income tax assets
Other	427,260	490,816
Net operating loss carryforward	1,260,941
Total deferred income tax assets	1,688,201	490,816
Total net deferred income tax liabilities	$ 1,710,059	$ 2,255,515

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	Jun. 16, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
INCOME TAXES
Effective income tax rate		(0.60%)	(109.80%)	(6.70%)	(16.30%)
Paycheck Protection Program loan forgiveness	$ 9,800,000	$ 9,799,100		$ 9,799,100
Increase in taxable income due to non deductible expense				$ 402,000	$ 312,000

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Total debt	$ 12,725,580	$ 15,772,448
Less current maturities	5,650,901	4,538,743
Total long term debt	7,074,679	11,233,705
Line of credit payable to bank renewed on 3 August 2021, final due by 28 June 2022
Debt Instrument [Line Items]
Total debt	1,000,000
Notes payable to bank final due by 25 March 2026
Debt Instrument [Line Items]
Total debt	3,342,069
Notes payable to finance companies due July 2021 through August 2026
Debt Instrument [Line Items]
Total debt	1,273,164	1,334,566
Note payable to finance company for insurance premiums financed due November 2020 in monthly installments
Debt Instrument [Line Items]
Total debt	1,345,385	509,843
Notes payable to bank, final due by November 2034
Debt Instrument [Line Items]
Total debt	922,931	967,665
Notes payable to bank, final due by November 2025
Debt Instrument [Line Items]
Total debt	559,583	644,172
Notes payable to bank due September 2022
Debt Instrument [Line Items]
Total debt	1,155,461	1,983,911
Notes payable to bank due September 2021
Debt Instrument [Line Items]
Total debt	86,987	$ 493,191
Notes payable to David and Daniel Bolton due final payment December 31, 2026
Debt Instrument [Line Items]
Total debt	$ 3,000,000

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Parentheticals) (Details) - USD ($)	Jun. 16, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 7,400,000	$ 7,400,000		$ 15,800,000
Debt Instrument, Increase (Decrease), Net	$ 9,800,000	$ 9,799,100	$ 9,799,100
Line of credit payable to bank renewed on 3 August 2021, final due by 28 June 2022
Debt Instrument [Line Items]
Interest rate		4.99%	4.99%
Notes payable to bank final due by 25 March 2026
Debt Instrument [Line Items]
Note payable in monthly installments			$ 64,853
Interest rate		4.25%	4.25%
Notes payable to finance companies due July 2021 through August 2026
Debt Instrument [Line Items]
Note payable in monthly installments			$ 70,062		$ 44,781
Notes payable to finance companies due July 2021 through August 2026 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.00%	0.00%
Notes payable to finance companies due July 2021 through August 2026 \| Maximum
Debt Instrument [Line Items]
Interest rate		6.03%	6.03%
Note payable to finance company for insurance premiums financed due November 2020 in monthly installments
Debt Instrument [Line Items]
Note payable in monthly installments			$ 272,000	$ 254,922
Interest rate		3.50%	3.50%
Notes payable to bank, final due by November 2034
Debt Instrument [Line Items]
Note payable in monthly installments			$ 7,799
Interest rate		4.82%	4.82%
Notes payable to bank, final due by November 2025
Debt Instrument [Line Items]
Note payable in monthly installments			$ 11,602
Interest rate		4.25%	4.25%
Notes payable to bank in Paycheck Protection Program ("PPP") loan funds due December 2025
Debt Instrument [Line Items]
Note payable in monthly installments			$ 40,000
Debt Instrument, Face Amount		$ 9,840,000	9,840,000
Debt Instrument, Increase (Decrease), Net			9,800,000
Notes payable to bank due September 2022
Debt Instrument [Line Items]
Note payable in monthly installments			$ 98,865
Interest rate		4.99%	4.99%
Notes payable to bank due September 2021
Debt Instrument [Line Items]
Note payable in monthly installments			$ 46,482
Interest rate		5.00%	5.00%
Notes payable to David and Daniel Bolton due final payment December 31, 2026
Debt Instrument [Line Items]
Note payable in monthly installments			$ 500,000
Interest rate		3.25%	3.25%

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT - Interest rates (Details) - USD ($)	Jun. 16, 2021	Jul. 30, 2020	Jan. 31, 2020	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Mar. 31, 2021
Line of Credit Facility [Line Items]
Insurance policy amount			$ 3,200,000
Insurance premiums						$ 1,300,000
Paycheck Protection Program loan forgiveness	$ 9,800,000			$ 9,799,100		9,799,100
Financing agreement "Operating Line of Credit (2020)"
Line of Credit Facility [Line Items]
Line of credit				1,000,000		1,000,000
Amount available to borrowing				5,400,000		5,400,000
Financing agreement "Operating Line of Credit (2020)"
Line of Credit Facility [Line Items]
Amount available to borrowing				$ 6,400,000		$ 6,400,000
United Bank, Inc. \| Financing agreement "Operating Line of Credit (2020)"
Line of Credit Facility [Line Items]
Line of credit		$ 15,000,000
Interest rate on the line of credit description		“Wall Street Journal” Prime Rate
Interest rate on line of credit		4.99%
Interest Rate					4.99%		4.99%
Amount repaid against the line of credit					$ 11,100,000
Percentage of eligible accounts receivable				70.00%		70.00%
Amount of loan covenants				$ 12,500,000		$ 12,500,000
Minimum tangible net worth				19,000,000		$ 19,000,000
Minimum traditional debt service coverage ratio						1.25x
Minimum current ratio						1.50x
Maximum debt to tangible net worth ratio						2.0x
Amount of minimum tangible net worth				$ 21,000,000		$ 21,000,000
Traditional debt service coverage ratio						2.0x
United Bank, Inc. \| Financing agreement "Operating Line of Credit (2020)" \| 12.5 million component
Line of Credit Facility [Line Items]
Amount borrowed against the line of credit		$ 12,500,000			$ 11,100,000
United Bank, Inc. \| Financing agreement "Operating Line of Credit (2020)" \| 2.5 million component
Line of Credit Facility [Line Items]
Line of credit		$ 2,500,000

ACQUISITIONS - Tangible and int

ACQUISITIONS - Tangible and intangible assets acquired and liabilities assumed, the purchase price allocations (Details) - USD ($)	Jun. 30, 2021	Sep. 30, 2020
Asset Acquisition [Line Items]
Goodwill	$ 4,220,828
Property, Plant and Equipment, Net, Total	22,490,888	$ 16,391,714
Intangible Assets, Net (Excluding Goodwill)	400,000
West Virginia Pipeline
Asset Acquisition [Line Items]
Goodwill	4,220,829
Cash received in acquisition	250,000
Debt assumed in acquisition	(120,829)
Purchase price	6,500,000
West Virginia Pipeline \| Non-compete agreement
Asset Acquisition [Line Items]
Intangible Assets, Net (Excluding Goodwill)	150,000
West Virginia Pipeline \| Customer list
Asset Acquisition [Line Items]
Intangible Assets, Net (Excluding Goodwill)	150,000
West Virginia Pipeline \| Equipment and vehicles
Asset Acquisition [Line Items]
Property, Plant and Equipment, Net, Total	1,565,000
West Virginia Pipeline \| Building
Asset Acquisition [Line Items]
Property, Plant and Equipment, Net, Total	220,243
West Virginia Pipeline \| Land
Asset Acquisition [Line Items]
Property, Plant and Equipment, Net, Total	64,757
Revolt Energy
Asset Acquisition [Line Items]
Debt assumed in acquisition	(85,000)
Purchase price	150,000
Revolt Energy \| Non-compete agreement
Asset Acquisition [Line Items]
Intangible Assets, Net (Excluding Goodwill)	100,000
Revolt Energy \| Equipment and vehicles
Asset Acquisition [Line Items]
Property, Plant and Equipment, Net, Total	$ 135,000

ACQUISITIONS - Asset Acquisitio

ACQUISITIONS - Asset Acquisition (Details) - Revolt Energy - USD ($)	Apr. 30, 2021	Jun. 30, 2021
Asset Acquisition [Line Items]
Cash consideration	$ 150,000
Revenue earned		$ 300,000

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details) - USD ($)	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2021
Asset Acquisition [Line Items]
Goodwill		$ 4,220,828	$ 4,220,828
West Virginia Pipeline
Asset Acquisition [Line Items]
Cash consideration	$ 3,500,000
Seller note as consideration for acquiring assets	$ 3,000,000
Term of debt	5 years
Interest Rate	3.25%
Acquisition Expenses	$ 150,000
Revenues		2,000,000	3,200,000
Goodwill		$ 4,220,829	$ 4,220,829

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Aug. 03, 2021	Jul. 07, 2021	Jun. 16, 2021	Jun. 30, 2021	Jun. 30, 2021	Jul. 01, 2021	Sep. 30, 2020
Subsequent Event [Line Items]
Aggregate principal amount of fixed-rate debt				$ 7,400,000	$ 7,400,000		$ 15,800,000
Paycheck Protection Program loan forgiveness			$ 9,800,000	$ 9,799,100	$ 9,799,100
Subsequent event \| Equipment Line of Credit from United Bank
Subsequent Event [Line Items]
Aggregate principal amount of fixed-rate debt						$ 3
Paycheck Protection Program loan forgiveness		$ 40,000
Term of debt	1 year