Energy Services of America (ESOA) 10-Q 14 Feb 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2018	Feb. 01, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Energy Services of America CORP
Entity Central Index Key	1,357,971
Trading Symbol	esoa
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		14,061,400
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Current assets
Cash and cash equivalents	$ 2,699,230	$ 1,065,550
Accounts receivable-trade	19,368,805	22,227,555
Allowance for doubtful accounts	(83,885)	(83,885)
Retainages receivable	5,725,502	4,919,351
Other receivables	154,904	266,179
Contract assets	10,531,124	5,353,375
Prepaid expenses and other	3,438,301	4,117,276
Total current assets	41,833,981	37,865,401
Property, plant and equipment, at cost	48,804,906	48,278,427
less accumulated depreciation	(32,447,889)	(31,462,438)
Total fixed assets	16,357,017	16,815,989
Total assets	58,190,998	54,681,390
Current liabilities
Current maturities of long-term debt	2,629,999	3,221,268
Lines of credit and short term borrowings	9,500,000	6,069,247
Accounts payable	9,100,884	6,204,870
Accrued expenses and other current liabilities	3,736,166	4,301,515
Contract liabilities	1,556,761	3,261,201
Income tax payable	899,147	545,237
Total current liabilities	27,422,957	23,603,338
Long-term debt, less current maturities	5,831,393	6,468,630
Deferred income taxes payable	1,251,465	1,328,375
Total liabilities	34,505,815	31,400,343
Shareholders' equity
Preferred stock, $.0001 par value Authorized 1,000,000 shares, 206 issued at December 31, 2018 and September 30, 2018
Common stock, $.0001 par value Authorized 50,000,000 shares 14,839,836 issued and 14,071,171 outstanding at December 31, 2018 and 14,839,836 issued and 14,194,517 outstanding at September 30, 2018	1,484	1,484
Treasury stock, 768,665 shares at December 31, 2018 and 645,319 at September 30, 2018	(77)	(65)
Additional paid in capital	61,089,484	61,239,470
Retained earnings (deficit)	(37,405,708)	(37,959,842)
Total shareholders' equity	23,685,183	23,281,047
Total liabilities and shareholders' equity	$ 58,190,998	$ 54,681,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
Statement Of Financial Position [Abstract]
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	14,071,171	14,194,517
Treasury stock, shares	768,665	645,319

Consolidated Statements of Inco

Consolidated Statements of Income Unaudited - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 49,114,139	$ 32,547,603
Cost of revenues	45,279,294	30,572,149
Gross profit	3,834,845	1,975,454
Selling and administrative expenses	2,756,391	2,009,091
Income (loss) from operations	1,078,454	(33,637)
Other income (expense)
Interest income	41,522	132,281
Other nonoperating expense	(32,995)	(55,124)
Interest expense	(204,349)	(295,844)
Gain on sale of equipment	25,752	368,705
Other income (expense), Total	(170,070)	150,018
Income before income taxes	908,384	116,381
Income tax expense (benefit)	277,000	(32,119)
Net income	631,384	148,500
Dividends on preferred stock	77,250	77,250
Net income available to common shareholders	$ 554,134	$ 71,250
Weighted average shares outstanding-basic (in shares)	14,135,900	14,239,836
Weighted average shares-diluted (in shares)	17,569,233	17,673,169
Earnings per share available to common shareholders (in dollars per share)	$ 0.039	$ 0.005
Earnings per share-diluted available to common shareholders (in dollars per share)	$ 0.032	$ 0.004

Consolidated Statements of Cash

Consolidated Statements of Cash Flows Unaudited - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 631,384	$ 148,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	1,022,367	1,049,688
Gain on sale of equipment	(25,752)	(368,705)
Provision for deferred taxes	(76,910)	(91,069)
Decrease in contracts receivable	2,858,750	6,175,377
(Increase) decrease in retainage receivable	(806,151)	407,367
Decrease in other receivables	111,275	250
Increase in contract assets	(5,177,749)	(807,045)
Decrease in prepaid expenses	678,975	749,357
Increase (decrease) in accounts payable	2,896,014	(1,155,121)
Decrease in accrued expenses	(488,099)	(1,402,599)
(Decrease) increase in contract liabilities	(1,704,440)	418,125
Increase in income taxes payable	353,910
Net cash provided by operating activities	273,574	5,124,125
Cash flows from investing activities:
Investment in property and equipment	(585,008)	(445,790)
Proceeds from sales of property and equipment	47,365	423,620
Net cash used in investing activities	(537,643)	(22,170)
Cash flows from financing activities:
Preferred dividends paid	(154,500)	(154,500)
Treasury stock purchased by company	(149,998)
Borrowings on lines of credit and short term debt, net of (repayments)	3,430,753	149,231
Principal payments on long term debt	(1,228,506)	(1,142,063)
Net cash provided by (used in) financing activities	1,897,749	(1,147,332)
Increase in cash and cash equivalents	1,633,680	3,954,623
Cash and cash equivalents beginning of period	1,065,550	1,675,525
Cash and cash equivalents end of period	2,699,230	5,630,148
Supplemental schedule of noncash investing and financing activities:
Purchases of property & equipment under financing agreements	0	0
Insurance premiums financed	0	0
Accrued dividends on preferred stock	0	0
Cash paid during the year for:
Interest	$ 204,349	295,844
Income taxes		$ 21,032

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Additional Paid in Capital	Retained Earnings (deficit)	Treasury Stock	Total
Balance at Sep. 30, 2017	$ 1,484	$ 61,289,260	$ (40,159,865)	$ (60)	$ 21,130,819
Balance (in shares) at Sep. 30, 2017	14,239,836
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			148,500		148,500
Accrued preferred dividends			(77,250)		(77,250)
Balance at Dec. 31, 2017	$ 1,484	61,289,260	(40,088,615)	(60)	21,202,069
Balance (in shares) at Dec. 31, 2017	14,239,836
Balance at Sep. 30, 2018	$ 1,484	61,239,470	(37,959,842)	(65)	23,281,047
Balance (in shares) at Sep. 30, 2018	14,194,517
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			631,384		631,384
Accrued preferred dividends			(77,250)		(77,250)
Treasury stock purchased by company		(149,986)		(12)	(149,998)
Treasury stock purchased by company (in shares)	(123,346)
Balance at Dec. 31, 2018	$ 1,484	$ 61,089,484	$ (37,405,708)	$ (77)	$ 23,685,183
Balance (in shares) at Dec. 31, 2018	14,071,171

BUSINESS AND ORGANIZATION

BUSINESS AND ORGANIZATION	3 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
BUSINESS AND ORGANIZATION	1. BUSINESS AND ORGANIZATION Energy Services of America Corporation (“Energy Services” or the “Company”) was formed in 2006 as a special purpose acquisition corporation, or blank check company. Wholly owned subsidiary C.J. Hughes is a general contractor primarily engaged in pipeline construction for utility companies. C.J. Hughes operates primarily in the mid-Atlantic region of the United States. 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, is an electrical and mechanical contractor that provides its services to the power, chemical and automotive industries. Nitro operates primarily in the mid-Atlantic region of the United States. 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 of the C.J. Hughes, Nitro, and Contractors Rental production personnel are union members of various related construction trade unions and are subject to collective bargaining agreements that expire at varying time intervals. Wholly owned subsidiary S.T. Pipeline, formerly presented as a discontinued operation, has been absorbed into Energy Services as of December 31, 2018 for financial statement presentation. The Company’s stock is quoted under the symbol “ESOA” on the OTC QB market place 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, 2018 and 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC on December 28, 2018. 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 months ended December 31, 2018 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 and its wholly owned subsidiary, C.J. Hughes and its subsidiaries, Nitro, Pinnacle, and Contractors Rental. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services and C.J. Hughes and C.J. Hughes’ subsidiaries. Reclassifications Certain reclassifications have been made in prior years’ financial statements to conform to classifications used in the current year.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Dec. 31, 2018
Revenue Recognition [Abstract]
REVENUE RECOGNITION	2. REVENUE RECOGNITION On October 1, 2018, the Company adopted an Accounting Standard Update, Revenue from Contracts with Customers (Topic 606) December 31, 2018 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 19,368,805 $ - $ 19,368,805 Contract assets 10,531,124 - 10,531,124 Other current assets 11,934,052 - 11,934,052 Total current assets 41,833,981 - 41,833,981 Total fixed assets 16,357,017 - 16,357,017 Total assets $ 58,190,998 $ - $ 58,190,998 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 1,556,761 $ - $ 1,556,761 Other current liabilities 25,866,196 - 25,866,196 Total current liabilities 27,422,957 - 27,422,957 Other long-term liabilities 7,082,858 - 7,082,858 Total liabilities 34,505,815 - 34,505,815 Retained earnings (37,405,708 ) - (37,405,708 ) Stockholders' equity 23,685,183 - 23,685,183 Total liabilities and stockholders' equity $ 58,190,998 $ - $ 58,190,998 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 49,114,139 $ - $ 49,114,139 Income before income taxes 908,384 - 908,384 Income tax expense 277,000 - 277,000 Net income 631,384 - 631,384 Net income available to common shareholders $ 554,134 $ - $ 554,134

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	3 Months Ended
	Dec. 31, 2018
Disaggregation of Revenue [Abstract]
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: Petroleum and Gas, Water, Sewer and other services, and Electrical and Mechanical services. Our contract types are: Lump Sum, Unit Price, and Cost Plus and Time and Material (T&M). The following tables present our disaggregated revenue for the three months ended December 31, 2018 and 2017: Three months ended December 31, 2018 Petroleum & Gas Water, Sewer and Other Electrical and Mechanical Total revenue from contracts Lump sum contracts $ - $ - $ 7,336,710 $ 7,336,710 Unit price contracts 26,350,168 3,072,043 - 29,422,211 Cost plus and T&M contracts 1,788,299 247,035 4,548,679 6,584,013 Revenue from contracts in progress $ 28,138,467 $ 3,319,078 $ 11,885,389 $ 43,342,934 Lump sum contracts $ - $ - $ 879,978 $ 879,978 Unit price contracts 2,465,135 398,914 - 2,864,049 Cost plus and T&M contracts 434,050 9,842 1,583,286 2,027,178 Revenue from completed contracts 2,899,185 408,756 2,463,264 5,771,205 Total revenue from contracts $ 31,037,652 $ 3,727,834 $ 14,348,653 $ 49,114,139 Earned over time $ 31,037,652 $ 3,727,834 $ 14,081,624 $ 48,847,110 Earned at point in time - - 267,029 267,029 Total revenue from contracts $ 31,037,652 $ 3,727,834 $ 14,348,653 $ 49,114,139 Three months ended December 31, 2017 Petroleum & Gas Water, Sewer and Other Electrical and Mechanical Total revenue from contracts Lump sum contracts $ - $ - $ 10,656,189 $ 10,656,189 Unit price contracts 6,704,069 1,695,852 - 8,399,921 Cost plus and T&M contracts 1,799,420 28,973 3,668,835 5,497,228 Revenue from contracts in progress $ 8,503,489 $ 1,724,825 $ 14,325,024 $ 24,553,338 Lump sum contracts $ - $ - $ 1,996,247 $ 1,996,247 Unit price contracts 3,631,374 900,549 816,737 5,348,660 Cost plus and T&M contracts 649,358 - - 649,358 Revenue from completed contracts 4,280,732 900,549 2,812,984 7,994,265 Total revenue from contracts $ 12,784,221 $ 2,625,374 $ 17,138,008 $ 32,547,603 Earned over time $ 12,784,221 $ 2,625,374 $ 16,897,048 $ 32,306,643 Earned at point in time - - 240,960 240,960 Total revenue from contracts $ 12,784,221 $ 2,625,374 $ 17,138,008 $ 32,547,603

CONTRACT BALANCES

CONTRACT BALANCES	3 Months Ended
	Dec. 31, 2018
Contract Balances [Abstract]
CONTRACT BALANCES	4. CONTRACT BALANCES Accounts receivable, which are included in current assets on the Consolidated Balance Sheets, totaled $19.4 million at December 31, 2018, a $2.8 million decrease from $22.2 million at September 30, 2018. The decrease was mainly due to timing of billings and receipts. Contract assets, which are included in current assets on the Consolidated Balance Sheets, totaled $10.5 million at December 31, 2018, a $5.1 million increase from $5.4 million at September 30, 2018. This was due to an increase in costs and estimated earnings in excess of billings on uncompleted projects. Contract liabilities, which are included in current liabilities on the Consolidated Balance Sheets, totaled $1.6 million at December 31, 2018, a $1.7 million decrease from $3.3 million at September 30, 2018. This was due to a decrease in billings in excess of costs and estimated earnings on uncompleted projects. The Company’s accounts receivable consists of amounts that have been billed to customers. Collateral is generally not required. A majority 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 three months ended December 31, 2018, we recognized revenue of $1.7 million that was included in the contract liability balance at September 30, 2018. Accounts receivable, contract assets and contract liabilities consisted of the following: September 30, 2018 December 31, 2018 Change Accounts receivable-trade $ 22,227,555 $ 19,368,805 $ (2,858,750 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 10,531,124 $ 5,177,749 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 1,556,761 $ (1,704,440 )

PERFORMANCE OBLIGATIONS

PERFORMANCE OBLIGATIONS	3 Months Ended
	Dec. 31, 2018
Performance Obligations [Abstract]
PERFORMANCE OBLIGATIONS	5. PERFORMANCE OBLIGATIONS The Company provides construction services that can be classified into several groups: petroleum and gas, water, sewer and other, and electrical and mechanical services. 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). The Company’s accounts receivable consists of amounts that have billed to customers. Collateral is generally not required. A majority 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 three months ended December 31, 2018, we recognized revenue of $518,000 as a result of changes in contract transaction price related to performance obligations that were satisfied prior to September 30, 2018. 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 December 31, 2018, the Company had $18.4 million in remaining unsatisfied performance obligations, in which revenue is expected to be recognized in less than twelve months.

UNCOMPLETED CONTRACTS

UNCOMPLETED CONTRACTS	3 Months Ended
	Dec. 31, 2018
Contractors [Abstract]
UNCOMPLETED CONTRACTS	6. UNCOMPLETED CONTRACTS Costs, estimated earnings, and billings on uncompleted contracts as of December 31, 2018 and September 30, 2018 are summarized as follows: December 31, September 30, 2018 2018 Costs incurred on contracts in progress $ 134,224,608 $ 154,793,209 Estimated earnings, net of estimated losses 16,630,258 11,687,859 150,854,866 166,481,068 Less billings to date 141,880,503 164,388,894 $ 8,974,363 $ 2,092,174 Contract assets $ 10,531,124 $ 5,353,375 Less contract liabilities 1,556,761 3,261,201 $ 8,974,363 $ 2,092,174 Backlog at December 31, 2018 and September 30, 2018 was $59.3 million and $71.1 million, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
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. As noted above, there is a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is 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 December 31, 2018 was $7.3 million. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $12.0 million at December 31, 2017 was $12.0 million. All receivables and payables are carried at net realizable value which approximates fair value because of their short duration to maturity.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	8. EARNINGS PER SHARE The amounts used to compute the earnings per share for the three months ended December 31, 2018 and 2017 are summarized below. Three Months Ended Three Months Ended December 31, December 31, 2018 2017 Net income $ 631,384 $ 148,500 Dividends on preferred stock 77,250 77,250 Income available to common shareholders $ 554,134 $ 71,250 Weighted average shares outstanding 14,135,900 14,239,836 Weighted average shares outstanding-diluted 17,569,233 17,673,169 Earnings per share available to common shareholders $ 0.039 $ 0.005 Earnings per share available to common shareholders-diluted $ 0.032 $ 0.004

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The components of income taxes are as follows: Three months ended December 31, 2018 2017 Federal Current $ 267,020 $ 162,194 Deferred (62,807 ) (208,258 ) Total 204,213 (46,064 ) State Current $ 86,889 12,728 Deferred (14,102 ) 1,217 Total 72,787 13,945 Total income tax expense $ 277,000 $ (32,119 ) The income tax effects of temporary differences giving rise to the deferred tax assets and liabilities are as follows: December 31, September 30, 2018 2018 Deferred income tax liabilities Long-term Property and equipment $ (1,949,244 ) $ (2,023,641 ) Other 19,803 (4,639 ) Total deferred income tax liabilities-LT $ (1,929,441 ) $ (2,028,280 ) Deferred income tax assets Other 677,976 699,905 Total deferred income tax assets $ 677,976 $ 699,905 Total net deferred income tax liabilities $ (1,251,465 ) $ (1,328,375 ) The Tax Cuts and Jobs Act of 2017 (the “Act”) was enacted on December 22, 2017. Consequent to the passage of the Act, the Company’s deferred tax assets and liabilities were adjusted for the effects of the Act’s changes in the tax law and rates. For the year ended September 30, 2018, the Company realized approximately $588,000 in income tax benefits recorded to income tax expense to reflect the impact of the Act’s rate change on the Company’s net deferred tax assets. 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 general and administrative expenses.

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	3 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
SHORT-TERM AND LONG-TERM DEBT	10. SHORT-TERM AND LONG-TERM DEBT Short-term debt consists of the following: On March 21, 2018, the Company entered into a financing agreement (“Operating Line of Credit (2018)”) with United Bank, Inc. to provide the Company with a $15.0 million revolving line of credit. The interest rate on the line of credit is the “Wall Street Journal” Prime Rate (the index) with a floor of 4.99%. The effective date of this agreement was February 27, 2018 and it replaced the $15.0 million revolving line of credit (“Operating Line of Credit (2017)”) entered into with United Bank, Inc. effective February 27, 2017. The Company had borrowed $5.5 million against the Operating Line of Credit (2018) as of September 30, 2018 and had $7.0 million available to borrow per the Company’s borrowing base. The Company had borrowed $9.5 million against the Operating Line of Credit (2018) as of December 31, 2018 and had $3.0 million available to borrow per the Company’s borrowing base. 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. Major items excluded from the calculation are receivables from bonded jobs and retainage as well as items greater than 90 days old. 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 $17.0 million to be measured quarterly 2. Minimum traditional debt service coverage of 1.50x 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 1.50x to be measured semi-annually. 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 tangible net worth of $19.0 million to be measured quarterly 2. Minimum traditional debt service coverage of 2.0x to be measured quarterly on a rolling twelve-month basis 3. 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. The Company was in compliance with all covenants for the $12.5 million Operating Line of Credit (2018) at December 31, 2018. The Company does not anticipate borrowing above that amount. The Company also finances insurance policy premiums on a short-term basis through a financing company. These insurance policies included: workers’ compensation, general liability, automobile, umbrella, and equipment policies. It is typical that the Company makes a down payment in January and finances the remaining premium amount over nine or ten monthly payments. In January 2018, The Company financed $3.1 million in insurance premium policies. At September 30, 2018, the balance of the remaining premiums to be paid was $570,000. At December 31, 2018, the remaining balance had been repaid in full. A summary of short-term and long-term debt as of December 31, 2018 and September 30, 2018 is as follows: December 31, September 30, 2018 2018 Line of credit payable to bank, monthly interest at 4.99%, final payment due by February 27, 2019. $ 9,500,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $62,355 including interest ranging from 0.0% to 7.62%, final payments due January 2019 through June 2019, secured by equipment. 1,153,021 1,332,993 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $288,581, including interest rate at 2.77%, final payment due November 2018. - 569,247 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. 1,043,930 1,054,248 Notes payable to bank, due in monthly installments totaling $11,828, including interest at 5.0%, final payment due November 2025 secured by building and property. 827,075 851,768 Notes payable to bank, due in monthly installments totaling $172,473, including interest at 6.5%, final payment due February 2019 secured by equipment. 193,248 702,097 Notes payable to bank, due in monthly installments totaling $30,914, including interest at 5.0%, final payment due February 2019 secured by equipment. 62,889 154,116 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment. 3,798,428 4,045,025 Notes payable to bank, due in monthly installments totaling $46,482, including interest at 5.00%, final payment due September 2021 secured by equipment. 1,382,801 1,549,651 Total debt 17,961,392 15,759,145 Less current maturities 12,129,999 9,290,515 Total long term debt $ 5,831,393 $ 6,468,630

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
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, 2018 and 2017 included in the Company’s Annual Report on Form 10-K filed with the SEC on December 28, 2018. 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 months ended December 31, 2018 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 and its wholly owned subsidiary, C.J. Hughes and its subsidiaries, Nitro, Pinnacle, and Contractors Rental. All significant intercompany accounts and transactions have been eliminated in the consolidation. Unless the context requires otherwise, references to Energy Services include Energy Services and C.J. Hughes and C.J. Hughes’ subsidiaries.
Reclassifications	Reclassifications Certain reclassifications have been made in prior years’ financial statements to conform to classifications used in the current year.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Dec. 31, 2018
Revenue Recognition [Abstract]
Schedule of material impact on the Company's financial statements adopting Topic 606	December 31, 2018 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 19,368,805 $ - $ 19,368,805 Contract assets 10,531,124 - 10,531,124 Other current assets 11,934,052 - 11,934,052 Total current assets 41,833,981 - 41,833,981 Total fixed assets 16,357,017 - 16,357,017 Total assets $ 58,190,998 $ - $ 58,190,998 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 1,556,761 $ - $ 1,556,761 Other current liabilities 25,866,196 - 25,866,196 Total current liabilities 27,422,957 - 27,422,957 Other long-term liabilities 7,082,858 - 7,082,858 Total liabilities 34,505,815 - 34,505,815 Retained earnings (37,405,708 ) - (37,405,708 ) Stockholders' equity 23,685,183 - 23,685,183 Total liabilities and stockholders' equity $ 58,190,998 $ - $ 58,190,998 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 49,114,139 $ - $ 49,114,139 Income before income taxes 908,384 - 908,384 Income tax expense 277,000 - 277,000 Net income 631,384 - 631,384 Net income available to common shareholders $ 554,134 $ - $ 554,134

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	3 Months Ended
	Dec. 31, 2018
Disaggregation of Revenue [Abstract]
Schedule of disaggregation of revenue	Three months ended December 31, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 7,336,710 $ 7,336,710 Unit price contracts 26,350,168 3,072,043 - 29,422,211 Cost plus and T&M contracts 1,788,299 247,035 4,548,679 6,584,013 Revenue from contracts in progress $ 28,138,467 $ 3,319,078 $ 11,885,389 $ 43,342,934 Lump sum contracts $ - $ - $ 879,978 $ 879,978 Unit price contracts 2,465,135 398,914 - 2,864,049 Cost plus and T&M contracts 434,050 9,842 1,583,286 2,027,178 Revenue from completed contracts 2,899,185 408,756 2,463,264 5,771,205 Total revenue from contracts $ 31,037,652 $ 3,727,834 $ 14,348,653 $ 49,114,139 Earned over time $ 31,037,652 $ 3,727,834 $ 14,081,624 $ 48,847,110 Earned at point in time - - 267,029 267,029 Total revenue from contracts $ 31,037,652 $ 3,727,834 $ 14,348,653 $ 49,114,139 Three months ended December 31, 2017 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 10,656,189 $ 10,656,189 Unit price contracts 6,704,069 1,695,852 - 8,399,921 Cost plus and T&M contracts 1,799,420 28,973 3,668,835 5,497,228 Revenue from contracts in progress $ 8,503,489 $ 1,724,825 $ 14,325,024 $ 24,553,338 Lump sum contracts $ - $ - $ 1,996,247 $ 1,996,247 Unit price contracts 3,631,374 900,549 816,737 5,348,660 Cost plus and T&M contracts 649,358 - - 649,358 Revenue from completed contracts 4,280,732 900,549 2,812,984 7,994,265 Total revenue from contracts $ 12,784,221 $ 2,625,374 $ 17,138,008 $ 32,547,603 Earned over time $ 12,784,221 $ 2,625,374 $ 16,897,048 $ 32,306,643 Earned at point in time - - 240,960 240,960 Total revenue from contracts $ 12,784,221 $ 2,625,374 $ 17,138,008 $ 32,547,603

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	3 Months Ended
	Dec. 31, 2018
Contract Balances [Abstract]
Schedule of accounts receivable, contract assets and contract liabilities	September 30, 2018 December 31, 2018 Change Accounts receivable-trade $ 22,227,555 $ 19,368,805 $ (2,858,750 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 10,531,124 $ 5,177,749 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 1,556,761 $ (1,704,440 )

UNCOMPLETED CONTRACTS (Tables)

UNCOMPLETED CONTRACTS (Tables)	3 Months Ended
	Dec. 31, 2018
Contractors [Abstract]
Schedule of costs, estimated earnings and billings on uncompleted contracts	December 31, September 30, 2018 2018 Costs incurred on contracts in progress $ 134,224,608 $ 154,793,209 Estimated earnings, net of estimated losses 16,630,258 11,687,859 150,854,866 166,481,068 Less billings to date 141,880,503 164,388,894 $ 8,974,363 $ 2,092,174 Contract assets $ 10,531,124 $ 5,353,375 Less contract liabilities 1,556,761 3,261,201 $ 8,974,363 $ 2,092,174

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule to compute earnings per share	Three Months Ended Three Months Ended December 31, December 31, 2018 2017 Net income $ 631,384 $ 148,500 Dividends on preferred stock 77,250 77,250 Income available to common shareholders $ 554,134 $ 71,250 Weighted average shares outstanding 14,135,900 14,239,836 Weighted average shares outstanding-diluted 17,569,233 17,673,169 Earnings per share available to common shareholders $ 0.039 $ 0.005 Earnings per share available to common shareholders-diluted $ 0.032 $ 0.004

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of income taxes	Three months ended December 31, 2018 2017 Federal Current $ 267,020 $ 162,194 Deferred (62,807 ) (208,258 ) Total 204,213 (46,064 ) State Current $ 86,889 12,728 Deferred (14,102 ) 1,217 Total 72,787 13,945 Total income tax expense $ 277,000 $ (32,119 )
Schedule of income tax effects to deferred tax assets and liabilities	December 31, September 30, 2018 2018 Deferred income tax liabilities Long-term Property and equipment $ (1,949,244 ) $ (2,023,641 ) Other 19,803 (4,639 ) Total deferred income tax liabilities-LT $ (1,929,441 ) $ (2,028,280 ) Deferred income tax assets Other 677,976 699,905 Total deferred income tax assets $ 677,976 $ 699,905 Total net deferred income tax liabilities $ (1,251,465 ) $ (1,328,375 )

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	3 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of summary of short-term and long-term debt	December 31, September 30, 2018 2018 Line of credit payable to bank, monthly interest at 4.99%, final payment due by February 27, 2019. $ 9,500,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $62,355 including interest ranging from 0.0% to 7.62%, final payments due January 2019 through June 2019, secured by equipment. 1,153,021 1,332,993 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $288,581, including interest rate at 2.77%, final payment due November 2018. - 569,247 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. 1,043,930 1,054,248 Notes payable to bank, due in monthly installments totaling $11,828, including interest at 5.0%, final payment due November 2025 secured by building and property. 827,075 851,768 Notes payable to bank, due in monthly installments totaling $172,473, including interest at 6.5%, final payment due February 2019 secured by equipment. 193,248 702,097 Notes payable to bank, due in monthly installments totaling $30,914, including interest at 5.0%, final payment due February 2019 secured by equipment. 62,889 154,116 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment. 3,798,428 4,045,025 Notes payable to bank, due in monthly installments totaling $46,482, including interest at 5.00%, final payment due September 2021 secured by equipment. 1,382,801 1,549,651 Total debt 17,961,392 15,759,145 Less current maturities 12,129,999 9,290,515 Total long term debt $ 5,831,393 $ 6,468,630

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Assets
Accounts receivable-trade	$ 19,368,805	$ 22,227,555
Contract assets	10,531,124	5,353,375
Other current assets	11,934,052
Total current assets	41,833,981	37,865,401
Total fixed assets	16,357,017	16,815,989
Total assets	58,190,998	54,681,390
Liabilities
Contract liabilities	1,556,761	3,261,201
Other current liabilities	25,866,196
Total current liabilities	27,422,957	23,603,338
Other long-term liabilities	7,082,858
Total liabilities	34,505,815	31,400,343
Retained earnings	(37,405,708)	(37,959,842)
Stockholders' equity	23,685,183	23,281,047	$ 21,202,069	$ 21,130,819
Total liabilities and stockholders' equity	58,190,998	$ 54,681,390
Balance Without ASC 606 Adoption
Assets
Accounts receivable-trade	19,368,805
Contract assets	10,531,124
Other current assets	11,934,052
Total current assets	41,833,981
Total fixed assets	16,357,017
Total assets	58,190,998
Liabilities
Contract liabilities	1,556,761
Other current liabilities	25,866,196
Total current liabilities	27,422,957
Other long-term liabilities	7,082,858
Total liabilities	34,505,815
Retained earnings	(37,405,708)
Stockholders' equity	23,685,183
Total liabilities and stockholders' equity	58,190,998
Adjustments | Accounting Standard Update (Topic 606)
Assets
Accounts receivable-trade	0
Contract assets	0
Other current assets	0
Total current assets	0
Total fixed assets	0
Total assets	0
Liabilities
Contract liabilities	0
Other current liabilities	0
Total current liabilities	0
Other long-term liabilities	0
Total liabilities	0
Retained earnings	0
Stockholders' equity	0
Total liabilities and stockholders' equity	$ 0

REVENUE RECOGNITION (Details 1)

REVENUE RECOGNITION (Details 1) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 49,114,139	$ 32,547,603
Income before income taxes	908,384	116,381
Income tax expense	277,000	(32,119)
Net income	631,384	148,500
Net income available to common shareholders	554,134	$ 71,250
Balance Without ASC 606 Adoption
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	49,114,139
Income before income taxes	908,384
Income tax expense	277,000
Net income	631,384
Net income available to common shareholders	554,134
Adjustments | Accounting Standard Update (Topic 606)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	0
Income before income taxes	0
Income tax expense	0
Net income	0
Net income available to common shareholders	$ 0

REVENUE RECOGNITION (Detail Tex

REVENUE RECOGNITION (Detail Textuals)	1 Months Ended
	Oct. 31, 2018
Revenue Recognition [Abstract]
Percentage compellation of contracts with customers related to topic 606	90.00%

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	$ 43,342,934	$ 24,553,338
Revenue from completed contracts	5,771,205	7,994,265
Total revenue from contracts	49,114,139	32,547,603
Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	48,847,110	32,306,643
Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	267,029	240,960
Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	7,336,710	10,656,189
Revenue from completed contracts	879,978	1,996,247
Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	29,422,211	8,399,921
Revenue from completed contracts	2,864,049	5,348,660
Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	6,584,013	5,497,228
Revenue from completed contracts	2,027,178	649,358
Petroleum and Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	28,138,467	8,503,489
Revenue from completed contracts	2,899,185	4,280,732
Total revenue from contracts	31,037,652	12,784,221
Petroleum and Gas | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	31,037,652	12,784,221
Petroleum and Gas | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	0	0
Petroleum and Gas | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0
Revenue from completed contracts	0	0
Petroleum and Gas | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	26,350,168	6,704,069
Revenue from completed contracts	2,465,135	3,631,374
Petroleum and Gas | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	1,788,299	1,799,420
Revenue from completed contracts	434,050	649,358
Water, Sewer and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	3,319,078	1,724,825
Revenue from completed contracts	408,756	900,549
Total revenue from contracts	3,727,834	2,625,374
Water, Sewer and Other | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	3,727,834	2,625,374
Water, Sewer and Other | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	0	0
Water, Sewer and Other | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0
Revenue from completed contracts	0	0
Water, Sewer and Other | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	3,072,043	1,695,852
Revenue from completed contracts	398,914	900,549
Water, Sewer and Other | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	247,035	28,973
Revenue from completed contracts	9,842	0
Electrical and Mechanical
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	11,885,389	14,325,024
Revenue from completed contracts	2,463,264	2,812,984
Total revenue from contracts	14,348,653	17,138,008
Electrical and Mechanical | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	14,081,624	16,897,048
Electrical and Mechanical | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	267,029	240,960
Electrical and Mechanical | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	7,336,710	10,656,189
Revenue from completed contracts	879,978	1,996,247
Electrical and Mechanical | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0
Revenue from completed contracts	0	816,737
Electrical and Mechanical | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	4,548,679	3,668,835
Revenue from completed contracts	$ 1,583,286	$ 0

CONTRACT BALANCES (Details)

CONTRACT BALANCES (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Contract Balances [Abstract]
Accounts receivable-trade	$ 19,368,805		$ 22,227,555
Change in accounts receivable-trade	(2,858,750)	$ (6,175,377)
Contract assets
Cost and estimated eanings in excess of billings	10,531,124		5,353,375
Change in cost and estimated eanings in excess of billings	5,177,749	807,045
Contract liabilites
Less contract liabilities	1,556,761		$ 3,261,201
Change in billings in excess of cost and estimated earnings	$ (1,704,440)	$ 418,125

CONTRACT BALANCES (Detail Textu

CONTRACT BALANCES (Detail Textuals) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Contract Balances [Line Items]
Accounts receivable-trade	$ 19,368,805		$ 22,227,555
Decrease in contracts receivable	(2,858,750)	$ (6,175,377)
Contract assets	10,531,124		5,353,375
Increase in contract assets	5,177,749	807,045
Contract liabilities	1,556,761		$ 3,261,201
(Decrease) increase in contract liabilities	(1,704,440)	$ 418,125
Recognized revenue included in contract liability	$ 1,700,000
Maximum
Contract Balances [Line Items]
Billing and payment term	45 days
Minimum
Contract Balances [Line Items]
Billing and payment term	30 days

PERFORMANCE OBLIGATIONS (Detail

PERFORMANCE OBLIGATIONS (Detail Textuals)	3 Months Ended
	Dec. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized revenue	$ 518,000
Amount of remaining unsatisfied performance obligations	$ 18,400,000
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billing and payment term	45 days
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billing and payment term	30 days

UNCOMPLETED CONTRACTS - Summary

UNCOMPLETED CONTRACTS - Summary of costs, estimated earnings, and billings on uncompleted contracts (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Contractors [Abstract]
Costs incurred on contracts in progress	$ 134,224,608	$ 154,793,209
Estimated earnings, net of estimated losses	16,630,258	11,687,859
Costs of uncompleted contracts including net estimated earnings	150,854,866	166,481,068
Less billings to date	141,880,503	164,388,894
Unbilled contracts receivable	8,974,363	2,092,174
Contract assets	10,531,124	5,353,375
Less contract liabilities	1,556,761	3,261,201
Unbilled contracts receivable	$ 8,974,363	$ 2,092,174

UNCOMPLETED CONTRACTS (Detail T

UNCOMPLETED CONTRACTS (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018
Contractors [Abstract]
Backlog	$ 59.3	$ 71.1

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Detail Textuals) - USD ($) $ in Millions	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Aggregate principal amount of fixed-rate debt	$ 7.4	$ 7.3	$ 12	$ 12

EARNINGS (LOSS) PER SHARE - Sum

EARNINGS (LOSS) PER SHARE - Summary of amounts used to compute earnings per share (Details ) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 631,384	$ 148,500
Dividends on preferred stock	77,250	77,250
Income available to common shareholders	$ 554,134	$ 71,250
Weighted average shares outstanding (in shares)	14,135,900	14,239,836
Weighted average shares outstanding-diluted (in shares)	17,569,233	17,673,169
Earnings per share available to common shareholders (in dollars per share)	$ 0.039	$ 0.005
Earnings per share available to common shareholders-diluted (in dollars per share)	$ 0.032	$ 0.004

INCOME TAXES - Components of in

INCOME TAXES - Components of income taxes (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Federal
Current	$ 267,020	$ 162,194
Deferred	(62,807)	(208,258)
Total	204,213	(46,064)
State
Current	86,889	12,728
Deferred	(14,102)	1,217
Total	72,787	13,945
Total income tax expense	$ 277,000	$ (32,119)

INCOME TAXES - Summary of incom

INCOME TAXES - Summary of income tax effects of temporary differences giving rise to deferred tax liabilities (Details 1) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Deferred income tax liabilities Long-term
Property and equipment	$ (1,949,244)	$ (2,023,641)
Other	19,803	(4,639)
Total deferred income tax liabilities-LT	(1,929,441)	(2,028,280)
Deferred income tax assets
Other	677,976	699,905
Total deferred income tax assets	677,976	699,905
Total net deferred income tax liabilities	$ (1,251,465)	$ (1,328,375)

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals)	12 Months Ended
	Sep. 30, 2018USD ($)
Income Tax Disclosure [Abstract]
Income tax benefits, impact of tax act's rate change on net deferred tax assets	$ 588,000

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Debt Instrument [Line Items]
Total debt	$ 17,961,392	$ 15,759,145
Less current maturities	12,129,999	9,290,515
Total long term debt	5,831,393	6,468,630
Line of credit payable to bank, final payment due by February 27, 2019
Debt Instrument [Line Items]
Total debt	9,500,000	5,500,000
Notes payable to finance companies, final payments due January 2019 through June 2019
Debt Instrument [Line Items]
Total debt	1,153,021	1,332,993
Note payable to finance company for insurance premiums financed due November 2018 in monthly installments
Debt Instrument [Line Items]
Total debt	0	569,247
Notes payable to bank, final payment due November 2034
Debt Instrument [Line Items]
Total debt	1,043,930	1,054,248
Notes payable to bank, final payment due November 2025
Debt Instrument [Line Items]
Total debt	827,075	851,768
Notes payable to bank, at interest rate of 6.5%, final payment due February 2019
Debt Instrument [Line Items]
Total debt	193,248	702,097
Notes payable to bank, at interest rate of 5.0%, final payment due February 2019
Debt Instrument [Line Items]
Total debt	62,889	154,116
Notes payable to bank, final payment due September 2022
Debt Instrument [Line Items]
Total debt	3,798,428	4,045,025
Notes payable to bank, final payment due September 2021
Debt Instrument [Line Items]
Total debt	$ 1,382,801	$ 1,549,651

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Parentheticals) (Details)	3 Months Ended
	Dec. 31, 2018USD ($)
Line of credit payable to bank due by February 27, 2019
Debt Instrument [Line Items]
Interest rate	4.99%
Notes payable to finance companies, final payments due January 2019 through June 2019
Debt Instrument [Line Items]
Note payable in monthly installments	$ 62,355
Notes payable to finance companies, final payments due January 2019 through June 2019 | Minimum
Debt Instrument [Line Items]
Interest rate	0.00%
Notes payable to finance companies, final payments due January 2019 through June 2019 | Maximum
Debt Instrument [Line Items]
Interest rate	7.62%
Note payable to finance company for insurance premiums financed due November 2018 in monthly installments
Debt Instrument [Line Items]
Note payable in monthly installments	$ 288,581
Interest rate	2.77%
Notes payable to bank, final payment due November 2034
Debt Instrument [Line Items]
Note payable in monthly installments	$ 7,799
Interest rate	4.82%
Notes payable to bank, final payment due November 2025
Debt Instrument [Line Items]
Note payable in monthly installments	$ 11,828
Interest rate	5.00%
Notes payable to bank, at interest rate of 6.5%, final payment due February 2019
Debt Instrument [Line Items]
Note payable in monthly installments	$ 172,473
Interest rate	6.50%
Notes payable to bank, at interest rate of 5.0%, final payment due February 2019
Debt Instrument [Line Items]
Note payable in monthly installments	$ 30,914
Interest rate	5.00%
Notes payable to bank, final payment due September 2022
Debt Instrument [Line Items]
Note payable in monthly installments	$ 98,865
Interest rate	4.99%
Notes payable to bank, final payment due September 2021
Debt Instrument [Line Items]
Note payable in monthly installments	$ 46,482
Interest rate	5.00%

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT (Detail Textuals) - USD ($)	1 Months Ended		3 Months Ended
	Mar. 21, 2018	Jan. 31, 2018	Dec. 31, 2018	Sep. 30, 2018
Line of Credit Facility [Line Items]
Insurance policy amount		$ 3,100,000
Insurance policy premium outstanding				$ 570,000
United Bank, Inc. | Financing agreement "Operating Line of Credit (2018)"
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 (the index) with a floor of 4.99%
Interest rate on line of credit	4.99%
Amount borrowed against the line of credit			$ 9,500,000	5,500,000
Amount available to borrowing			$ 3,000,000	$ 7,000,000
Percentage of eligible accounts receivable			70.00%
Amount of loan covenants			$ 12,500,000
Minimum tangible net worth			$ 17,000,000
Minimum traditional debt service coverage ratio			1.50x
Minimum current ratio			1.50x
Maximum debt to tangible net worth ratio			1.50x
Amount of minimum tangible net worth			$ 19,000,000
Traditional debt service coverage ratio			2.0x
United Bank, Inc. | Financing agreement "Operating Line of Credit (2017)"
Line of Credit Facility [Line Items]
Line of credit			$ 15,000,000