Energy Services of America (ESOA) 10-Q 15 May 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2019	May 02, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Energy Services of America CORP
Entity Central Index Key	0001357971
Trading Symbol	esoa
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		13,981,475
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Sep. 30, 2018
Current assets
Cash and cash equivalents	$ 2,766,461	$ 1,065,550
Accounts receivable-trade	18,438,234	22,227,555
Allowance for doubtful accounts	(83,885)	(83,885)
Retainages receivable	4,703,085	4,919,351
Other receivables	46,619	266,179
Contract assets	13,521,588	5,353,375
Prepaid expenses and other	5,125,686	4,117,276
Total current assets	44,517,788	37,865,401
Property, plant and equipment, at cost	49,301,428	48,278,427
less accumulated depreciation	(32,972,790)	(31,462,438)
Total fixed assets	16,328,638	16,815,989
Total assets	60,846,426	54,681,390
Current liabilities
Current maturities of long-term debt	2,386,883	3,221,268
Lines of credit and short term borrowings	12,102,841	6,069,247
Accounts payable	8,684,544	6,204,870
Accrued expenses and other current liabilities	6,339,278	4,301,515
Contract liabilities	2,525,081	3,261,201
Income tax payable		545,237
Total current liabilities	32,038,627	23,603,338
Long-term debt, less current maturities	5,257,421	6,468,630
Deferred income taxes payable	1,121,474	1,328,375
Total liabilities	38,417,522	31,400,343
Shareholders' equity
Preferred stock, $.0001 par value Authorized 1,000,000 shares, 206 issued at March 31, 2019 and September 30, 2018
Common stock, $.0001 par value Authorized 50,000,000 shares 14,839,836 issued and 14,023,188 outstanding at March 31, 2019 and 14,839,836 issued and 14,194,517 outstanding at September 30, 2018	1,484	1,484
Treasury stock, 816,648 shares at March 31, 2019 and 645,319 at September 30, 2018	(82)	(65)
Additional paid in capital	61,034,918	61,239,470
Retained earnings (deficit)	(38,607,416)	(37,959,842)
Total shareholders' equity	22,428,904	23,281,047
Total liabilities and shareholders' equity	$ 60,846,426	$ 54,681,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2019	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	14,023,188	14,194,517
Treasury stock, shares	816,648	645,319

Consolidated Statements of Inco

Consolidated Statements of Income Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 46,955,444	$ 23,093,033	$ 96,069,583	$ 55,640,636
Cost of revenues	46,364,050	22,036,935	91,643,344	52,609,084
Gross profit	591,394	1,056,098	4,426,239	3,031,552
Selling and administrative expenses	2,012,282	1,956,356	4,768,673	3,965,447
Loss from operations	(1,420,888)	(900,258)	(342,434)	(933,895)
Other income (expense)
Interest income	16,501	61	58,023	132,342
Other nonoperating expense	(20,581)	(47,023)	(53,576)	(102,147)
Interest expense	(209,125)	(243,708)	(413,474)	(539,552)
Gain on sale of equipment	111,817	19,670	137,569	388,375
Other income (expense), Total	(101,388)	(271,000)	(271,458)	(120,982)
Loss before income taxes	(1,522,276)	(1,171,258)	(613,892)	(1,054,877)
Income tax benefit	(397,818)	(223,683)	(120,818)	(255,802)
Net loss	(1,124,458)	(947,575)	(493,074)	(799,075)
Dividends on preferred stock	77,250	77,250	154,500	154,500
Net loss available to common shareholders	$ (1,201,708)	$ (1,024,825)	$ (647,574)	$ (953,575)
Weighted average shares outstanding-basic (in shares)	14,060,456	14,239,836	14,102,117	14,239,836
Weighted average shares-diluted (in shares)	14,060,456	14,239,836	14,102,117	14,239,836
Loss per share available to common shareholders (in dollars per share)	$ (0.085)	$ (0.072)	$ (0.046)	$ (0.067)
Loss per share-diluted available to common shareholders (in dollars per share)	$ (0.085)	$ (0.072)	$ (0.046)	$ (0.067)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows Unaudited - USD ($)	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (493,074)	$ (799,075)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation expense	2,062,589	2,114,346
Gain on sale of equipment	(137,569)	(388,375)
Provision for deferred taxes	(76,050)	(320,599)
Decrease in contracts receivable	3,789,321	10,994,609
Decrease in retainage receivable	216,266	2,419,213
Decrease (increase) in other receivables	88,709	(2,459)
Increase in contract assets	(8,168,213)	(346,385)
Increase in prepaid expenses	(1,008,410)	(1,028,102)
Increase (decrease) in accounts payable	2,479,674	(2,634,999)
Increase (decrease) in accrued expenses	2,037,763	(1,778,307)
(Decrease) increase in contract liabilities	(736,120)	494,018
Decrease in income taxes payable	(545,237)
Net cash (used in) provided by operating activities	(490,351)	8,723,885
Cash flows from investing activities:
Investment in property and equipment	(1,811,044)	(969,804)
Proceeds from sales of property and equipment	402,909	443,340
Net cash used in investing activities	(1,408,135)	(526,464)
Cash flows from financing activities:
Preferred dividends paid	(154,500)	(154,500)
Treasury stock purchased by company	(204,569)
Borrowings on lines of credit and short term debt, net of (repayments)	6,033,594	(4,573,780)
Principal payments on long term debt	(2,075,128)	(2,290,410)
Net cash provided by (used in) financing activities	3,599,397	(7,018,690)
Increase in cash and cash equivalents	1,700,911	1,178,731
Cash and cash equivalents beginning of period	1,065,550	1,675,525
Cash and cash equivalents end of period	2,766,461	2,854,256
Supplemental schedule of noncash investing and financing activities:
Purchases of property & equipment under financing agreements	29,534
Insurance premiums financed	3,159,083	3,130,859
Accrued dividends on preferred stock	77,250	77,250
Cash paid during the year for:
Interest	413,474	539,552
Income taxes	$ 630,670	$ 21,357

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 loss			(799,075)		(799,075)
Preferred dividends			(154,500)		(154,500)
Balance at Mar. 31, 2018	$ 1,484	61,289,260	(41,113,440)	(60)	20,177,244
Balance (in shares) at Mar. 31, 2018	14,239,836
Balance at Sep. 30, 2018	$ 1,484	61,239,470	(65)	(37,959,842)	23,281,047
Balance (in shares) at Sep. 30, 2018	14,194,517
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(493,074)	(493,074)
Preferred dividends				(154,500)	(154,500)
Treasury stock purchased by company		(204,552)	(17)		(204,569)
Treasury stock purchased by company (in shares)	(171,329)
Balance at Mar. 31, 2019	$ 1,484	$ 61,034,918	$ (82)	$ (38,607,416)	$ 22,428,904
Balance (in shares) at Mar. 31, 2019	14,023,188

BUSINESS AND ORGANIZATION

BUSINESS AND ORGANIZATION	6 Months Ended
	Mar. 31, 2019
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 in 2019 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 and six months ended March 31, 2019 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	6 Months Ended
	Mar. 31, 2019
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) March 31, 2019 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 18,438,234 $ - $ 18,438,234 Contract assets 13,521,588 - 13,521,588 Other current assets 12,557,966 - 12,557,966 Total current assets 44,517,788 - 44,517,788 Total fixed assets 16,328,638 - 16,328,638 Total assets $ 60,846,426 $ - $ 60,846,426 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 2,525,081 $ - $ 2,525,081 Other current liabilities 29,513,546 - 29,513,546 Total current liabilities 32,038,627 - 32,038,627 Other long-term liabilities 6,378,895 - 6,378,895 Total liabilities 38,417,522 - 38,417,522 Retained earnings (38,607,416 ) - (38,607,416 ) Stockholders' equity 22,428,904 - 22,428,904 Total liabilities and stockholders' equity $ 60,846,426 $ - $ 60,846,426 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 96,069,583 $ - $ 96,069,583 loss before income taxes (613,892 ) - (613,892 ) Income tax benefit (120,818 ) - (120,818 ) Net loss (493,074 ) - (493,074 ) Net loss available to common shareholders $ (647,574 ) $ - $ (647,574 )

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019 and 2018: Three months ended March 31, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 7,073,312 $ 7,073,312 Unit price contracts 28,295,402 (768,333 ) - 27,527,069 Cost plus and T&M contracts 1,163,461 86,801 4,222,830 5,473,092 Revenue from contracts in progress $ 29,458,863 $ (681,532 ) $ 11,296,142 $ 40,073,473 Lump sum contracts $ - $ - $ 3,359,764 $ 3,359,764 Unit price contracts 461,433 2,897,005 - 3,358,438 Cost plus and T&M contracts 29,289 172,899 (38,419 ) 163,769 Revenue from completed contracts 490,722 3,069,904 3,321,345 6,881,971 Total revenue from contracts $ 29,949,585 $ 2,388,372 $ 14,617,487 $ 46,955,444 Earned over time $ 29,949,585 $ 2,388,372 $ 14,430,794 $ 46,768,751 Earned at point in time - - 186,693 186,693 Total revenue from contracts $ 29,949,585 $ 2,388,372 $ 14,617,487 $ 46,955,444 Three months ended March 31, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 7,046,412 $ 7,046,412 Unit price contracts 1,749,056 1,064,689 - 2,813,745 Cost plus and T&M contracts 1,039,058 154,369 2,542,709 3,736,136 Revenue from contracts in progress $ 2,788,114 $ 1,219,058 $ 9,589,121 $ 13,596,293 Lump sum contracts $ - $ - $ 3,491,575 $ 3,491,575 Unit price contracts 3,263,465 580,103 (816,737 ) 3,026,831 Cost plus and T&M contracts 153,459 6,723 2,818,152 2,978,334 Revenue from completed contracts 3,416,924 586,826 5,492,990 9,496,740 Total revenue from contracts $ 6,205,038 $ 1,805,884 $ 15,082,111 $ 23,093,033 Earned over time $ 6,205,038 $ 1,805,884 $ 14,888,364 $ 22,899,286 Earned at point in time - - 193,747 193,747 Total revenue from contracts $ 6,205,038 $ 1,805,884 $ 15,082,111 $ 23,093,033 Six months ended March 31, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 14,410,022 $ 14,410,022 Unit price contracts 54,645,570 2,303,710 - 56,949,280 Cost plus and T&M contracts 2,824,471 461,125 8,771,509 12,057,105 Revenue from contracts in progress $ 57,470,041 $ 2,764,835 $ 23,181,531 $ 83,416,407 Lump sum contracts $ - $ - $ 4,239,742 $ 4,239,742 Unit price contracts 2,926,568 3,295,919 - 6,222,487 Cost plus and T&M contracts 463,339 182,741 1,544,867 2,190,947 Revenue from completed contracts 3,389,907 3,478,660 5,784,609 12,653,176 Total revenue from contracts $ 60,859,948 $ 6,243,495 $ 28,966,140 $ 96,069,583 Earned over time $ 60,859,948 $ 6,243,495 $ 28,512,418 $ 95,615,861 Earned at point in time - - 453,722 453,722 Total revenue from contracts $ 60,859,948 $ 6,243,495 $ 28,966,140 $ 96,069,583 Six months ended March 31, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 17,702,601 $ 17,702,601 Unit price contracts 8,453,125 2,760,541 - 11,213,666 Cost plus and T&M contracts 2,838,478 183,342 6,211,544 9,233,364 Revenue from contracts in progress $ 11,291,603 $ 2,943,883 $ 23,914,145 $ 38,149,631 Lump sum contracts $ - $ - $ 5,487,822 $ 5,487,822 Unit price contracts 6,894,839 1,480,652 - 8,375,491 Cost plus and T&M contracts 802,817 6,723 2,818,152 3,627,692 Revenue from completed contracts 7,697,656 1,487,375 8,305,974 17,491,005 Total revenue from contracts $ 18,989,259 $ 4,431,258 $ 32,220,119 $ 55,640,636 Earned over time $ 18,989,259 $ 4,431,258 $ 31,785,412 $ 55,205,929 Earned at point in time - - 434,707 434,707 Total revenue from contracts $ 18,989,259 $ 4,431,258 $ 32,220,119 $ 55,640,636

CONTRACT BALANCES

CONTRACT BALANCES	6 Months Ended
	Mar. 31, 2019
Contract Balances [Abstract]
CONTRACT BALANCES	4. CONTRACT BALANCES Accounts receivable, which are included in current assets on the Consolidated Balance Sheets, totaled $18.4 million at March 31, 2019, a $3.8 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 $13.5 million at March 31, 2019, a $8.2 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 $2.5 million at March 31, 2019, a $736,000 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 six months ended March 31, 2019, we recognized revenue of $2.0 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 March 31, 2019 Change Accounts receivable-trade $ 22,227,555 $ 18,438,234 $ (3,789,321 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 13,521,588 $ 8,168,213 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 2,525,081 $ (736,120 )

PERFORMANCE OBLIGATIONS

PERFORMANCE OBLIGATIONS	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019, we recognized revenue of $518,000 and $370,000, respectively, 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 March 31, 2019, the Company had $20.7 million in remaining unsatisfied performance obligations, in which revenue is expected to be recognized in less than twelve months.

UNCOMPLETED CONTRACTS

UNCOMPLETED CONTRACTS	6 Months Ended
	Mar. 31, 2019
Contractors [Abstract]
UNCOMPLETED CONTRACTS	6. UNCOMPLETED CONTRACTS Costs, estimated earnings, and billings on uncompleted contracts as of March 31, 2019 and September 30, 2018 are summarized as follows: March 31, September 30, 2019 2018 Costs incurred on contracts in progress $ 129,885,573 $ 154,793,209 Estimated earnings, net of estimated losses 12,375,997 11,687,859 142,261,570 166,481,068 Less billings to date 131,265,063 164,388,894 $ 10,996,507 $ 2,092,174 Costs and estimated earnings in excess of billed on uncompleted contracts $ 13,521,588 $ 5,353,375 Less billings in excess of costs and estimated earnings on uncompleted contracts 2,525,081 3,261,201 $ 10,996,507 $ 2,092,174 Backlog at March 31, 2019 and September 30, 2018 was $48.0 million and $71.1 million, respectively. The March 31, 2019 backlog does not include $15.0 million in projects that were subsequently awarded.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2019
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 $8.7 million at March 31, 2019 was $8.6 million. The fair value of the aggregate principal amount of the Company’s fixed-rate debt of $10.3 million at September 30, 2018 was $10.2 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	6 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	8. EARNINGS PER SHARE The amounts used to compute the earnings per share for the three and six months ended March 31, 2019 and 2018 are summarized below. Three Months Ended Three Months Ended Six Months Ended Six Months Ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 Net loss $ (1,124,458 ) $ (947,575 ) $ (493,074 ) $ (799,075 ) Dividends on preferred stock 77,250 77,250 154,500 154,500 Loss available to common shareholders $ (1,201,708 ) $ (1,024,825 ) $ (647,574 ) $ (953,575 ) Weighted average shares outstanding 14,060,456 14,239,836 14,102,117 14,239,836 Weighted average shares outstanding-diluted 14,060,456 14,239,836 14,102,117 14,239,836 Loss per share available to common shareholders $ (0.085 ) $ (0.072 ) $ (0.046 ) $ (0.067 ) Loss per share available to common shareholders-diluted $ (0.085 ) $ (0.072 ) $ (0.046 ) $ (0.067 )

INCOME TAXES

INCOME TAXES	6 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The components of income taxes are as follows: Six months ended March 31, 2019 2018 Federal Current $ (34,942 ) $ (152,484 ) Deferred (59,319 ) (63,045 ) Total (94,261 ) (215,529 ) State Current $ (9,826 ) $ (63,716 ) Deferred (16,731 ) 23,443 Total (26,557 ) (40,273 ) Total income tax benefit $ (120,818 ) $ (255,802 ) The income tax effects of temporary differences giving rise to the deferred tax assets and liabilities are as follows: March 31, September 30, 2019 2018 Deferred income tax liabilities Long-term Property and equipment $ (1,884,522 ) $ (2,023,641 ) Other 19,805 (4,639 ) Total deferred income tax liabilities $ (1,864,717 ) $ (2,028,280 ) Deferred income tax assets Other 612,392 699,905 Net operating loss carryforward 130,851 - Total deferred income tax assets 743,243 699,905 Total net deferred income tax liabilities $ (1,121,474 ) $ (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	6 Months Ended
	Mar. 31, 2019
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. This agreement expired on February 28, 2019 but was extended through April 28, 2019 by the Company’s lenders. The Company received a twelve-month extension on May 7, 2019. The Company had borrowed $5.5 million against the Operating Line of Credit (2018) as of September 30, 2018 and had up to $7.0 million available to borrow depending on the Company’s borrowing base report. The Company had borrowed $10.0 million against the Operating Line of Credit (2018) as of March 31, 2019 and had up to $2.5 million available to borrow depending on the Company’s borrowing base report. 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 not in compliance with all covenants for the $12.5 million Operating Line of Credit (2018) at March 31, 2019; however, the Company received a waiver on May 7, 2019. On the same date, the Company’s lenders approved a five-year $10.0 million term note dependent on an ongoing equipment appraisal. The interest rate on this note is fixed at 5.50%. The purpose of this note is to finance a specific construction project currently in progress. The Company was not in compliance with all covenants for the $12.5 million Operating Line of Credit (2018) at March 31, 2019; however, the Company received a waiver on May 7, 2019. On the same date, the Company’s lenders conditionally approved a five-year $10.0 million term note dependent on an ongoing equipment appraisal. The interest rate on this note is fixed at 5.50%. The purpose of this note is to finance a specific construction project currently in progress. A summary of short-term and long-term debt as of March 31, 2019 and September 30, 2018 is as follows: March 31, September 30, 2019 2018 Line of credit payable to bank, monthly interest at 5.50%, final payment due by April 28, 2020. $ 10,000,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $62,887 including interest ranging from 0.0% to 7.62%, final payments due April 2019 through March 2024, secured by equipment. 999,979 1,332,993 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $267,677, including interest rate at 2.77%, final payment due November 2019. 2,102,841 569,247 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. 1,033,472 1,054,248 Notes payable to bank, due in monthly installments totaling $12,028, including interest at 5.0%, final payment due November 2025 secured by building and property. 802,220 851,768 Notes payable to bank, due in monthly installments totaling $172,473, including interest at 6.5%, final payment due February 2019 secured by equipment. - 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. - 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. 3,548,394 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. 1,260,239 1,549,651 Total debt 19,747,145 15,759,145 Less current maturities 14,489,724 9,290,515 Total long term debt $ 5,257,421 $ 6,468,630

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 31, 2019
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 and six months ended March 31, 2019 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)	6 Months Ended
	Mar. 31, 2019
Revenue Recognition [Abstract]
Schedule of material impact on the Company's financial statements adopting Topic 606	March 31, 2019 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 18,438,234 $ - $ 18,438,234 Contract assets 13,521,588 - 13,521,588 Other current assets 12,557,966 - 12,557,966 Total current assets 44,517,788 - 44,517,788 Total fixed assets 16,328,638 - 16,328,638 Total assets $ 60,846,426 $ - $ 60,846,426 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 2,525,081 $ - $ 2,525,081 Other current liabilities 29,513,546 - 29,513,546 Total current liabilities 32,038,627 - 32,038,627 Other long-term liabilities 6,378,895 - 6,378,895 Total liabilities 38,417,522 - 38,417,522 Retained earnings (38,607,416 ) - (38,607,416 ) Stockholders' equity 22,428,904 - 22,428,904 Total liabilities and stockholders' equity $ 60,846,426 $ - $ 60,846,426 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 96,069,583 $ - $ 96,069,583 loss before income taxes (613,892 ) - (613,892 ) Income tax benefit (120,818 ) - (120,818 ) Net loss (493,074 ) - (493,074 ) Net loss available to common shareholders $ (647,574 ) $ - $ (647,574 )

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	6 Months Ended
	Mar. 31, 2019
Disaggregation of Revenue [Abstract]
Schedule of disaggregation of revenue	Three months ended March 31, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 7,073,312 $ 7,073,312 Unit price contracts 28,295,402 (768,333 ) - 27,527,069 Cost plus and T&M contracts 1,163,461 86,801 4,222,830 5,473,092 Revenue from contracts in progress $ 29,458,863 $ (681,532 ) $ 11,296,142 $ 40,073,473 Lump sum contracts $ - $ - $ 3,359,764 $ 3,359,764 Unit price contracts 461,433 2,897,005 - 3,358,438 Cost plus and T&M contracts 29,289 172,899 (38,419 ) 163,769 Revenue from completed contracts 490,722 3,069,904 3,321,345 6,881,971 Total revenue from contracts $ 29,949,585 $ 2,388,372 $ 14,617,487 $ 46,955,444 Earned over time $ 29,949,585 $ 2,388,372 $ 14,430,794 $ 46,768,751 Earned at point in time - - 186,693 186,693 Total revenue from contracts $ 29,949,585 $ 2,388,372 $ 14,617,487 $ 46,955,444 Three months ended March 31, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 7,046,412 $ 7,046,412 Unit price contracts 1,749,056 1,064,689 - 2,813,745 Cost plus and T&M contracts 1,039,058 154,369 2,542,709 3,736,136 Revenue from contracts in progress $ 2,788,114 $ 1,219,058 $ 9,589,121 $ 13,596,293 Lump sum contracts $ - $ - $ 3,491,575 $ 3,491,575 Unit price contracts 3,263,465 580,103 (816,737 ) 3,026,831 Cost plus and T&M contracts 153,459 6,723 2,818,152 2,978,334 Revenue from completed contracts 3,416,924 586,826 5,492,990 9,496,740 Total revenue from contracts $ 6,205,038 $ 1,805,884 $ 15,082,111 $ 23,093,033 Earned over time $ 6,205,038 $ 1,805,884 $ 14,888,364 $ 22,899,286 Earned at point in time - - 193,747 193,747 Total revenue from contracts $ 6,205,038 $ 1,805,884 $ 15,082,111 $ 23,093,033 Six months ended March 31, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 14,410,022 $ 14,410,022 Unit price contracts 54,645,570 2,303,710 - 56,949,280 Cost plus and T&M contracts 2,824,471 461,125 8,771,509 12,057,105 Revenue from contracts in progress $ 57,470,041 $ 2,764,835 $ 23,181,531 $ 83,416,407 Lump sum contracts $ - $ - $ 4,239,742 $ 4,239,742 Unit price contracts 2,926,568 3,295,919 - 6,222,487 Cost plus and T&M contracts 463,339 182,741 1,544,867 2,190,947 Revenue from completed contracts 3,389,907 3,478,660 5,784,609 12,653,176 Total revenue from contracts $ 60,859,948 $ 6,243,495 $ 28,966,140 $ 96,069,583 Earned over time $ 60,859,948 $ 6,243,495 $ 28,512,418 $ 95,615,861 Earned at point in time - - 453,722 453,722 Total revenue from contracts $ 60,859,948 $ 6,243,495 $ 28,966,140 $ 96,069,583 Six months ended March 31, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 17,702,601 $ 17,702,601 Unit price contracts 8,453,125 2,760,541 - 11,213,666 Cost plus and T&M contracts 2,838,478 183,342 6,211,544 9,233,364 Revenue from contracts in progress $ 11,291,603 $ 2,943,883 $ 23,914,145 $ 38,149,631 Lump sum contracts $ - $ - $ 5,487,822 $ 5,487,822 Unit price contracts 6,894,839 1,480,652 - 8,375,491 Cost plus and T&M contracts 802,817 6,723 2,818,152 3,627,692 Revenue from completed contracts 7,697,656 1,487,375 8,305,974 17,491,005 Total revenue from contracts $ 18,989,259 $ 4,431,258 $ 32,220,119 $ 55,640,636 Earned over time $ 18,989,259 $ 4,431,258 $ 31,785,412 $ 55,205,929 Earned at point in time - - 434,707 434,707 Total revenue from contracts $ 18,989,259 $ 4,431,258 $ 32,220,119 $ 55,640,636

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	6 Months Ended
	Mar. 31, 2019
Contract Balances [Abstract]
Schedule of accounts receivable, contract assets and contract liabilities	September 30, 2018 March 31, 2019 Change Accounts receivable-trade $ 22,227,555 $ 18,438,234 $ (3,789,321 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 13,521,588 $ 8,168,213 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 2,525,081 $ (736,120 )

UNCOMPLETED CONTRACTS (Tables)

UNCOMPLETED CONTRACTS (Tables)	6 Months Ended
	Mar. 31, 2019
Contractors [Abstract]
Schedule of costs, estimated earnings and billings on uncompleted contracts	March 31, September 30, 2019 2018 Costs incurred on contracts in progress $ 129,885,573 $ 154,793,209 Estimated earnings, net of estimated losses 12,375,997 11,687,859 142,261,570 166,481,068 Less billings to date 131,265,063 164,388,894 $ 10,996,507 $ 2,092,174 Costs and estimated earnings in excess of billed on uncompleted contracts $ 13,521,588 $ 5,353,375 Less billings in excess of costs and estimated earnings on uncompleted contracts 2,525,081 3,261,201 $ 10,996,507 $ 2,092,174

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule to compute earnings per share	Three Months Ended Three Months Ended Six Months Ended Six Months Ended March 31, March 31, March 31, March 31, 2019 2018 2019 2018 Net loss $ (1,124,458 ) $ (947,575 ) $ (493,074 ) $ (799,075 ) Dividends on preferred stock 77,250 77,250 154,500 154,500 Loss available to common shareholders $ (1,201,708 ) $ (1,024,825 ) $ (647,574 ) $ (953,575 ) Weighted average shares outstanding 14,060,456 14,239,836 14,102,117 14,239,836 Weighted average shares outstanding-diluted 14,060,456 14,239,836 14,102,117 14,239,836 Loss per share available to common shareholders $ (0.085 ) $ (0.072 ) $ (0.046 ) $ (0.067 ) Loss per share available to common shareholders-diluted $ (0.085 ) $ (0.072 ) $ (0.046 ) $ (0.067 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of components of income taxes	Six months ended March 31, 2019 2018 Federal Current $ (34,942 ) $ (152,484 ) Deferred (59,319 ) (63,045 ) Total (94,261 ) (215,529 ) State Current $ (9,826 ) $ (63,716 ) Deferred (16,731 ) 23,443 Total (26,557 ) (40,273 ) Total income tax benefit $ (120,818 ) $ (255,802 )
Schedule of income tax effects to deferred tax assets and liabilities	March 31, September 30, 2019 2018 Deferred income tax liabilities Long-term Property and equipment $ (1,884,522 ) $ (2,023,641 ) Other 19,805 (4,639 ) Total deferred income tax liabilities $ (1,864,717 ) $ (2,028,280 ) Deferred income tax assets Other 612,392 699,905 Net operating loss carryforward 130,851 - Total deferred income tax assets 743,243 699,905 Total net deferred income tax liabilities $ (1,121,474 ) $ (1,328,375 )

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	6 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of summary of short-term and long-term debt	March 31, September 30, 2019 2018 Line of credit payable to bank, monthly interest at 5.50%, final payment due by April 28, 2020. $ 10,000,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $62,887 including interest ranging from 0.0% to 7.62%, final payments due April 2019 through March 2024, secured by equipment. 999,979 1,332,993 Note payable to finance company for insurance premiums financed, due in monthly installments totaling $267,677, including interest rate at 2.77%, final payment due November 2019. 2,102,841 569,247 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. 1,033,472 1,054,248 Notes payable to bank, due in monthly installments totaling $12,028, including interest at 5.0%, final payment due November 2025 secured by building and property. 802,220 851,768 Notes payable to bank, due in monthly installments totaling $172,473, including interest at 6.5%, final payment due February 2019 secured by equipment. - 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. - 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. 3,548,394 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. 1,260,239 1,549,651 Total debt 19,747,145 15,759,145 Less current maturities 14,489,724 9,290,515 Total long term debt $ 5,257,421 $ 6,468,630

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($)	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Assets
Accounts receivable-trade	$ 18,438,234	$ 22,227,555
Contract assets	13,521,588	5,353,375
Other current assets	12,557,966
Total current assets	44,517,788	37,865,401
Total fixed assets	16,328,638	16,815,989
Total assets	60,846,426	54,681,390
Liabilities
Contract liabilities	2,525,081	3,261,201
Other current liabilities	29,513,546
Total current liabilities	32,038,627	23,603,338
Other long-term liabilities	6,378,895
Total liabilities	38,417,522	31,400,343
Retained earnings	(38,607,416)	(37,959,842)
Stockholders' equity	22,428,904	23,281,047	$ 20,177,244	$ 21,130,819
Total liabilities and stockholders' equity	60,846,426	$ 54,681,390
Balance Without ASC 606 Adoption
Assets
Accounts receivable-trade	18,438,234
Contract assets	13,521,588
Other current assets	12,557,966
Total current assets	44,517,788
Total fixed assets	16,328,638
Total assets	60,846,426
Liabilities
Contract liabilities	2,525,081
Other current liabilities	29,513,546
Total current liabilities	32,038,627
Other long-term liabilities	6,378,895
Total liabilities	38,417,522
Retained earnings	(38,607,416)
Stockholders' equity	22,428,904
Total liabilities and stockholders' equity	60,846,426
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		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 46,955,444	$ 23,093,033	$ 96,069,583	$ 55,640,636
Loss before income taxes	(1,522,276)	(1,171,258)	(613,892)	(1,054,877)
Income tax benefit	(397,818)	(223,683)	(120,818)	(255,802)
Net loss	(1,124,458)	(947,575)	(493,074)	(799,075)
Net loss available to common shareholders	$ (1,201,708)	$ (1,024,825)	(647,574)	$ (953,575)
Balance Without ASC 606 Adoption
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue			96,069,583
Loss before income taxes			(613,892)
Income tax benefit			(120,818)
Net loss			(493,074)
Net loss available to common shareholders			(647,574)
Adjustments | Accounting Standard Update (Topic 606)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue			0
Loss before income taxes			0
Income tax benefit			0
Net loss			0
Net loss 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		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	$ 40,073,473	$ 13,596,293	$ 83,416,407	$ 38,149,631
Revenue from completed contracts	6,881,971	9,496,740	12,653,176	17,491,005
Total revenue from contracts	46,955,444	23,093,033	96,069,583	55,640,636
Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	46,768,751	22,899,286	95,615,861	55,205,929
Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	186,693	193,747	453,722	434,707
Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	7,073,312	7,046,412	14,410,022	17,702,601
Revenue from completed contracts	3,359,764	3,491,575	4,239,742	5,487,822
Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	27,527,069	2,813,745	56,949,280	11,213,666
Revenue from completed contracts	3,358,438	3,026,831	6,222,487	8,375,491
Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	5,473,092	3,736,136	12,057,105	9,233,364
Revenue from completed contracts	163,769	2,978,334	2,190,947	3,627,692
Petroleum and Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	29,458,863	2,788,114	57,470,041	11,291,603
Revenue from completed contracts	490,722	3,416,924	3,389,907	7,697,656
Total revenue from contracts	29,949,585	6,205,038	60,859,948	18,989,259
Petroleum and Gas | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	29,949,585	6,205,038	60,859,948	18,989,259
Petroleum and Gas | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	0	0	0	0
Petroleum and Gas | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0	0	0
Revenue from completed contracts	0	0	0	0
Petroleum and Gas | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	28,295,402	1,749,056	54,645,570	8,453,125
Revenue from completed contracts	461,433	3,263,465	2,926,568	6,894,839
Petroleum and Gas | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	1,163,461	1,039,058	2,824,471	2,838,478
Revenue from completed contracts	29,289	153,459	463,339	802,817
Water, Sewer and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	(681,532)	1,219,058	2,764,835	2,943,883
Revenue from completed contracts	3,069,904	586,826	3,478,660	1,487,375
Total revenue from contracts	2,388,372	1,805,884	6,243,495	4,431,258
Water, Sewer and Other | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	2,388,372	1,805,884	6,243,495	4,431,258
Water, Sewer and Other | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	0	0	0	0
Water, Sewer and Other | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0	0	0
Revenue from completed contracts	0	0	0	0
Water, Sewer and Other | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	(768,333)	1,064,689	2,303,710	2,760,541
Revenue from completed contracts	2,897,005	580,103	3,295,919	1,480,652
Water, Sewer and Other | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	86,801	154,369	461,125	183,342
Revenue from completed contracts	172,899	6,723	182,741	6,723
Electrical and Mechanical
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	11,296,142	9,589,121	23,181,531	23,914,145
Revenue from completed contracts	3,321,345	5,492,990	5,784,609	8,305,974
Total revenue from contracts	14,617,487	15,082,111	28,966,140	32,220,119
Electrical and Mechanical | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	14,430,794	14,888,364	28,512,418	31,785,412
Electrical and Mechanical | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	186,693	193,747	453,722	434,707
Electrical and Mechanical | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	7,073,312	7,046,412	14,410,022	17,702,601
Revenue from completed contracts	3,359,764	3,491,575	4,239,742	5,487,822
Electrical and Mechanical | Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	0	0	0	0
Revenue from completed contracts	0	(816,737)	0	0
Electrical and Mechanical | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	4,222,830	2,542,709	8,771,509	6,211,544
Revenue from completed contracts	$ (38,419)	$ 2,818,152	$ 1,544,867	$ 2,818,152

CONTRACT BALANCES (Details)

CONTRACT BALANCES (Details) - USD ($)	6 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Contract Balances [Abstract]
Accounts receivable-trade	$ 18,438,234		$ 22,227,555
Change in accounts receivable-trade	(3,789,321)	$ (10,994,609)	22,200,000
Contract assets
Cost and estimated eanings in excess of billings	13,521,588		5,353,375
Change in cost and estimated eanings in excess of billings	8,168,213	346,385	5,400,000
Contract liabilites
Less billings in excess of costs and estimated earnings on uncompleted contracts	2,525,081		3,261,201
Change in billings in excess of cost and estimated earnings	$ (736,120)	$ 494,018	$ 3,300,000

CONTRACT BALANCES (Detail Textu

CONTRACT BALANCES (Detail Textuals) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Contract Balances [Line Items]
Accounts receivable-trade	$ 18,438,234	$ 18,438,234		$ 22,227,555
Decrease in contracts receivable		(3,789,321)	$ (10,994,609)	22,200,000
Contract assets	13,521,588	13,521,588		5,353,375
Increase in contract assets		8,168,213	346,385	5,400,000
Contract liabilities	2,525,081	2,525,081		3,261,201
(Decrease) increase in contract liabilities		$ (736,120)	$ 494,018	$ 3,300,000
Recognized revenue included in contract liability	$ 2,000,000
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 (Detail Textuals)	3 Months Ended	6 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized revenue	$ 518,000	$ 370,000
Amount of remaining unsatisfied performance obligations	$ 20,700,000	$ 20,700,000
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 ($)	Mar. 31, 2019	Sep. 30, 2018
Contractors [Abstract]
Costs incurred on contracts in progress	$ 129,885,573	$ 154,793,209
Estimated earnings, net of estimated losses	12,375,997	11,687,859
Costs of uncompleted contracts including net estimated earnings	142,261,570	166,481,068
Less billings to date	131,265,063	164,388,894
Unbilled contracts receivable	10,996,507	2,092,174
Costs and estimated earnings in excess of billed on uncompleted contracts	13,521,588	5,353,375
Less billings in excess of costs and estimated earnings on uncompleted contracts	2,525,081	3,261,201
Unbilled contracts receivable	$ 10,996,507	$ 2,092,174

UNCOMPLETED CONTRACTS (Detail T

UNCOMPLETED CONTRACTS (Detail Textuals) - USD ($) $ in Millions	Mar. 31, 2019	Sep. 30, 2018
Contractors [Abstract]
Backlog	$ 48	$ 71.1
Backlog exclude in subsequently awarded	$ 15

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Detail Textuals) - USD ($) $ in Millions	Mar. 31, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Aggregate principal amount of fixed-rate debt	$ 8.7	$ 10.3
Fair value of aggregate principal amount of fixed-rate debt	$ 8.6	$ 10.2

EARNINGS (LOSS) PER SHARE - Sum

EARNINGS (LOSS) PER SHARE - Summary of amounts used to compute earnings per share (Details ) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (1,124,458)	$ (947,575)	$ (493,074)	$ (799,075)
Dividends on preferred stock	77,250	77,250	154,500	154,500
Loss available to common shareholders	$ (1,201,708)	$ (1,024,825)	$ (647,574)	$ (953,575)
Weighted average shares outstanding (in shares)	14,060,456	14,239,836	14,102,117	14,239,836
Weighted average shares outstanding-diluted (in shares)	14,060,456	14,239,836	14,102,117	14,239,836
Loss per share available to common shareholders (in dollars per share)	$ (0.085)	$ (0.072)	$ (0.046)	$ (0.067)
Loss per share available to common shareholders-diluted (in dollars per share)	$ (0.085)	$ (0.072)	$ (0.046)	$ (0.067)

INCOME TAXES - Components of in

INCOME TAXES - Components of income taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Federal
Current			$ (34,942)	$ (152,484)
Deferred			(59,319)	(63,045)
Total			(94,261)	(215,529)
State
Current			(9,826)	(63,716)
Deferred			(16,731)	23,443
Total			(26,557)	(40,273)
Total income tax benefit	$ (397,818)	$ (223,683)	$ (120,818)	$ (255,802)

INCOME TAXES - Summary of incom

INCOME TAXES - Summary of income tax effects of temporary differences giving rise to deferred tax liabilities (Details 1) - USD ($)	Mar. 31, 2019	Sep. 30, 2018
Deferred income tax liabilities Long-term
Property and equipment	$ (1,884,522)	$ (2,023,641)
Other	19,805	(4,639)
Total deferred income tax liabilities	(1,864,717)	(2,028,280)
Deferred income tax assets
Other	612,392	699,905
Net operating loss carryforward	130,851	0
Total deferred income tax assets	743,243	699,905
Total net deferred income tax liabilities	$ (1,121,474)	$ (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 ($)	Mar. 31, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Total debt	$ 19,747,145	$ 15,759,145
Less current maturities	14,489,724	9,290,515
Total long term debt	5,257,421	6,468,630
Line of credit payable to bank, final payment due by April 28, 2020
Debt Instrument [Line Items]
Total debt	10,000,000	5,500,000
Notes payable to finance companies, final payments due April 2019 through March 2024
Debt Instrument [Line Items]
Total debt	999,979	1,332,993
Note payable to finance company for insurance premiums financed due November 2019 in monthly installments
Debt Instrument [Line Items]
Total debt	2,102,841	569,247
Notes payable to bank, final payment due November 2034
Debt Instrument [Line Items]
Total debt	1,033,472	1,054,248
Notes payable to bank, final payment due November 2025
Debt Instrument [Line Items]
Total debt	802,220	851,768
Notes payable to bank, at interest rate of 6.5%, final payment due February 2019
Debt Instrument [Line Items]
Total debt	0	702,097
Notes payable to bank, at interest rate of 5.0%, final payment due February 2019
Debt Instrument [Line Items]
Total debt	0	154,116
Notes payable to bank, final payment due September 2022
Debt Instrument [Line Items]
Total debt	3,548,394	4,045,025
Notes payable to bank, final payment due September 2021
Debt Instrument [Line Items]
Total debt	$ 1,260,239	$ 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)	6 Months Ended
	Mar. 31, 2019USD ($)
Line of credit payable to bank, final payment due by April 28, 2020
Debt Instrument [Line Items]
Interest rate	5.50%
Notes payable to finance companies, final payments due April 2019 through March 2024
Debt Instrument [Line Items]
Note payable in monthly installments	$ 62,887
Notes payable to finance companies, final payments due April 2019 through March 2024 | Minimum
Debt Instrument [Line Items]
Interest rate	0.00%
Notes payable to finance companies, final payments due April 2019 through March 2024 | Maximum
Debt Instrument [Line Items]
Interest rate	7.62%
Note payable to finance company for insurance premiums financed due November 2019 in monthly installments
Debt Instrument [Line Items]
Note payable in monthly installments	$ 267,677
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	$ 12,028
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 ($) $ in Millions	May 07, 2019	Jan. 31, 2019	Mar. 21, 2018	Mar. 31, 2019	Sep. 30, 2018
Line of Credit Facility [Line Items]
Insurance policy amount		$ 3.2
Insurance policy premium outstanding				$ 2.1
United Bank, Inc. | Financing agreement "Operating Line of Credit (2018)"
Line of Credit Facility [Line Items]
Line of credit			$ 15
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%	5.50%
Amount borrowed against the line of credit				$ 10	$ 5.5
Amount available to borrowing				$ 2.5	$ 7
Percentage of eligible accounts receivable				70.00%
Amount of loan covenants	$ 12.5			$ 12.5
Minimum tangible net worth	$ 19			$ 17
Minimum traditional debt service coverage ratio	1.25x			1.50x
Minimum current ratio	1.50x			1.50x
Maximum debt to tangible net worth ratio	2.0x			1.50x
Amount of minimum tangible net worth				$ 19
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