Energy Services of America (ESOA) 10-Q 14 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Energy Services of America CORP
Entity Central Index Key	0001357971
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		13,935,788
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Current assets
Cash and cash equivalents	$ 3,146,299	$ 1,065,550
Accounts receivable-trade	16,012,607	22,227,555
Allowance for doubtful accounts	(83,885)	(83,885)
Retainages receivable	6,112,252	4,919,351
Other receivables	10,108	266,179
Contract assets	17,249,138	5,353,375
Prepaid expenses and other	3,473,269	4,117,276
Total current assets	45,919,788	37,865,401
Property, plant and equipment, at cost	50,262,005	48,278,427
less accumulated depreciation	(33,631,241)	(31,462,438)
Total fixed assets	16,630,764	16,815,989
Total assets	62,550,552	54,681,390
Current liabilities
Current maturities of long-term debt	4,300,985	3,221,268
Lines of credit and short term borrowings	4,314,276	6,069,247
Accounts payable	8,110,228	6,204,870
Accrued expenses and other current liabilities	4,911,913	4,301,515
Contract liabilities	3,799,598	3,261,201
Income tax payable		545,237
Total current liabilities	25,437,000	23,603,338
Long-term debt, less current maturities	12,935,086	6,468,630
Deferred income taxes payable	1,426,881	1,328,375
Total liabilities	39,798,967	31,400,343
Shareholders' equity
Preferred stock, $.0001 par value Authorized 1,000,000 shares, 206 issued at June 30, 2019 and September 30, 2018
Common stock, $.0001 par value Authorized 50,000,000 shares 14,839,836 issued and 13,938,444 outstanding at June 30, 2019 and 14,839,836 issued and 14,194,517 outstanding at September 30, 2018	1,484	1,484
Treasury stock, 901,392 shares at June 30, 2019 and 645,319 at September 30, 2018	(90)	(65)
Additional paid in capital	60,949,100	61,239,470
Retained earnings (deficit)	(38,198,909)	(37,959,842)
Total shareholders' equity	22,751,585	23,281,047
Total liabilities and shareholders' equity	$ 62,550,552	$ 54,681,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 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	13,938,444	14,194,517
Treasury stock, shares	901,392	645,319

Consolidated Statements of Inco

Consolidated Statements of Income Unaudited - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 40,187,978	$ 29,549,659	$ 136,257,561	$ 85,190,295
Cost of revenues	36,936,926	26,166,268	128,580,270	78,775,352
Gross profit	3,251,052	3,383,391	7,677,291	6,414,943
Selling and administrative expenses	2,021,359	1,773,304	6,790,032	5,738,751
Income from operations	1,229,693	1,610,087	887,259	676,192
Other income (expense)
Interest income			58,023	132,342
Other nonoperating expense	(25,736)	(55,016)	(79,312)	(157,163)
Interest expense	(331,067)	(190,781)	(744,541)	(730,333)
Gain on sale of equipment	68,672	7,572	206,241	395,947
Other income (expense), Total	(288,131)	(238,225)	(559,589)	(359,207)
Income before income taxes	941,562	1,371,862	327,670	316,985
Income tax expense	455,805	275,595	334,987	19,793
Net income (loss)	485,757	1,096,267	(7,317)	297,192
Dividends on preferred stock	77,250	77,250	231,750	231,750
Net income (loss) available to common shareholders	$ 408,507	$ 1,019,017	$ (239,067)	$ 65,442
Weighted average shares outstanding-basic (in shares)	13,985,579	14,239,836	14,080,299	14,239,836
Weighted average shares-diluted (in shares)	17,418,912	17,673,169	14,080,299	17,673,169
Earnings (loss) per share available to common shareholders (in dollars per share)	$ 0.029	$ 0.072	$ (0.017)	$ 0.005
Earnings (loss) per share-diluted available to common shareholders (in dollars per share)	$ 0.023	$ 0.058	$ (0.017)	$ 0.004

Consolidated Statements of Cash

Consolidated Statements of Cash Flows Unaudited - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ (7,317)	$ 297,192
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation expense	3,111,170	3,187,733
Gain on sale of equipment	(206,241)	(395,947)
Provision for deferred taxes	98,506	(137,314)
Decrease in contracts receivable	6,214,948	13,428,365
(Increase) decrease in retainage receivable	(1,192,901)	1,985,086
Decrease (increase) in other receivables	256,071	(303,010)
Increase in contract assets	(11,895,763)	(1,721,942)
Increase (decrease) in prepaid expenses	644,007	(254,474)
Increase (decrease) in accounts payable	1,905,358	(1,634,750)
Increase (decrease) in accrued expenses	687,648	(1,368,169)
(Decrease) increase in contract liabilities	538,397	(296,005)
Decrease in income taxes payable	(545,237)	92,310
Net cash (used in) provided by operating activities	(391,354)	12,879,075
Cash flows from investing activities:
Investment inproperty, plant and equipment	(2,851,572)	(1,409,423)
Proceeds from sales of property and equipment	511,133	473,327
Net cash used in investing activities	(2,340,439)	(936,096)
Cash flows from financing activities:
Preferred dividends paid	(309,000)	(309,000)
Treasury stock purchased by company	(290,395)
Borrowings on lines of credit and short term debt, net of (repayments)	8,245,029	(5,509,850)
Principal payments on long term debt	(2,833,092)	(3,447,156)
Net cash provided by (used in) financing activities	4,812,542	(9,266,006)
Increase in cash and cash equivalents	2,080,749	2,676,973
Cash and cash equivalents beginning of period	1,065,550	1,675,525
Cash and cash equivalents end of period	3,146,299	4,352,498
Supplemental schedule of noncash investing and financing activities:
Purchases of property & equipment under financing agreements	379,265
Insurance premiums financed	3,159,083	3,130,859
Accrued dividends on preferred stock	231,750	231,750
Line of credit refinanced to long-term debt	10,000,000
Cash paid during the year for:
Interest	744,541	730,333
Income taxes	$ 634,702	$ 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 income (loss)			297,192		297,192
Preferred dividends			(231,750)		(231,750)
Balance at Jun. 30, 2018	$ 1,484	61,289,260	(40,094,423)	(60)	21,196,261
Balance (in shares) at Jun. 30, 2018	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 (loss)			(7,317)		(7,317)
Preferred dividends			(231,750)		(231,750)
Treasury stock purchased by company		(290,370)		(25)	(290,395)
Treasury stock purchased by company (in shares)	(256,073)
Balance at Jun. 30, 2019	$ 1,484	$ 60,949,100	$ (38,198,909)	$ (90)	$ 22,751,585
Balance (in shares) at Jun. 30, 2019	13,938,444

BUSINESS AND ORGANIZATION

BUSINESS AND ORGANIZATION	9 Months Ended
	Jun. 30, 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, and became an operating entity on August 15, 2008. 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 nine months ended June 30, 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	9 Months Ended
	Jun. 30, 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) June 30, 2019 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 16,012,607 $ - $ 16,012,607 Contract assets 17,249,138 - 17,249,138 Other current assets 12,658,043 - 12,658,043 Total current assets 45,919,788 - 45,919,788 Total fixed assets 16,630,764 - 16,630,764 Total assets $ 62,550,552 $ - $ 62,550,552 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 3,799,598 $ - $ 3,799,598 Other current liabilities 21,637,402 - 21,637,402 Total current liabilities 25,437,000 - 25,437,000 Other long-term liabilities 14,361,967 - 14,361,967 Total liabilities 39,798,967 - 39,798,967 Retained earnings (38,198,909 ) - (38,198,909 ) Stockholders' equity 22,751,585 - 22,751,585 Total liabilities and stockholders' equity $ 62,550,552 $ - $ 62,550,552 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 136,257,561 $ - $ 136,257,561 Incombe before income taxes 327,670 - 327,670 Income tax expense 334,987 - 334,987 Net loss (7,317 ) - (7,317 ) Net loss available to common shareholders $ (239,067 ) $ - $ (239,067 )

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	9 Months Ended
	Jun. 30, 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 nine months ended June 30, 2019 and 2018: Three months ended June 30, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 6,716,056 $ 6,716,056 Unit price contracts 22,392,796 2,502,561 - 24,895,357 Cost plus and T&M contracts 451,454 713,787 561,000 1,726,241 Revenue from contracts in progress $ 22,844,250 $ 3,216,348 $ 7,277,056 $ 33,337,654 Lump sum contracts $ - $ - $ 1,250,797 $ 1,250,797 Unit price contracts 104,145 - - 104,145 Cost plus and T&M contracts - 3,814 5,491,568 5,495,382 Revenue from completed contracts 104,145 3,814 6,742,365 6,850,324 Total revenue from contracts $ 22,948,395 $ 3,220,162 $ 14,019,421 $ 40,187,978 Earned over time $ 22,948,395 $ 3,220,162 $ 13,610,212 $ 39,778,769 Earned at point in time - - 409,209 409,209 Total revenue from contracts $ 22,948,395 $ 3,220,162 $ 14,019,421 $ 40,187,978 Three months ended June 30, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 2,345,900 $ 2,345,900 Unit price contracts 6,807,987 (404,816 ) - 6,403,171 Cost plus and T&M contracts 563,881 (65,185 ) 3,916,784 4,415,480 Revenue from contracts in progress $ 7,371,868 $ (470,001 ) $ 6,262,684 $ 13,164,551 Lump sum contracts $ - $ - $ 3,514,076 $ 3,514,076 Unit price contracts 6,344,011 2,165,817 - 8,509,828 Cost plus and T&M contracts 2,261,953 315,133 1,784,118 4,361,204 Revenue from completed contracts 8,605,964 2,480,950 5,298,194 16,385,108 Total revenue from contracts $ 15,977,832 $ 2,010,949 $ 11,560,878 $ 29,549,659 Earned over time $ 15,977,832 $ 2,010,949 $ 11,216,150 $ 29,204,931 Earned at point in time - - 344,728 344,728 Total revenue from contracts $ 15,977,832 $ 2,010,949 $ 11,560,878 $ 29,549,659 Nine months ended June 30, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 21,126,078 $ 21,126,078 Unit price contracts 77,165,655 4,678,982 - 81,844,637 Cost plus and T&M contracts 3,275,925 1,174,912 9,332,509 13,783,346 Revenue from contracts in progress $ 80,441,580 $ 5,853,894 $ 30,458,587 $ 116,754,061 Lump sum contracts $ - $ - $ 5,490,539 $ 5,490,539 Unit price contracts 3,030,713 3,295,919 - 6,326,632 Cost plus and T&M contracts 463,339 186,555 7,036,435 7,686,329 Revenue from completed contracts 3,494,052 3,482,474 12,526,974 19,503,500 Total revenue from contracts $ 83,935,632 $ 9,336,368 $ 42,985,561 $ 136,257,561 Earned over time $ 83,935,632 $ 9,336,368 $ 42,122,630 $ 135,394,630 Earned at point in time - - 862,931 862,931 Total revenue from contracts $ 83,935,632 $ 9,336,368 $ 42,985,561 $ 136,257,561 Nine months ended June 30, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 20,048,501 $ 20,048,501 Unit price contracts 15,261,112 2,355,725 - 17,616,837 Cost plus and T&M contracts 3,402,359 118,157 10,128,328 13,648,844 Revenue from contracts in progress $ 18,663,471 $ 2,473,882 $ 30,176,829 $ 51,314,182 Lump sum contracts $ - $ - $ 9,001,898 $ 9,001,898 Unit price contracts 13,238,850 3,646,469 - 16,885,319 Cost plus and T&M contracts 3,064,770 321,856 4,602,270 7,988,896 Revenue from completed contracts 16,303,620 3,968,325 13,604,168 33,876,113 Total revenue from contracts $ 34,967,091 $ 6,442,207 $ 43,780,997 $ 85,190,295 Earned over time $ 34,967,091 $ 6,442,207 $ 43,001,562 $ 84,410,860 Earned at point in time - - 779,435 779,435 Total revenue from contracts $ 34,967,091 $ 6,442,207 $ 43,780,997 $ 85,190,295

CONTRACT BALANCES

CONTRACT BALANCES	9 Months Ended
	Jun. 30, 2019
Contract Balances [Abstract]
CONTRACT BALANCES	4. CONTRACT BALANCES Accounts receivable, which are included in current assets on the Consolidated Balance Sheets, totaled $16.0 million at June 30, 2019, a $6.2 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 $17.3 million at June 30, 2019, an $11.9 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 $3.8 million at June 30, 2019, a $538,000 increase from $3.3 million at September 30, 2018. This was due to an increase 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 nine months ended June 30, 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 June 30, 2019 Change Accounts receivable-trade $ 22,227,555 $ 16,012,607 $ (6,214,948 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 17,249,138 $ 11,895,763 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 3,799,598 $ 538,397

PERFORMANCE OBLIGATIONS

PERFORMANCE OBLIGATIONS	9 Months Ended
	Jun. 30, 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 nine months ended June 30, 2019, we recognized revenue of ($130,000) and $240,000, 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 June 30, 2019, the Company had $17.4 million in remaining unsatisfied performance obligations, in which revenue is expected to be recognized in less than twelve months.

UNCOMPLETED CONTRACTS

UNCOMPLETED CONTRACTS	9 Months Ended
	Jun. 30, 2019
Contractors [Abstract]
UNCOMPLETED CONTRACTS	6. UNCOMPLETED CONTRACTS Costs, estimated earnings, and billings on uncompleted contracts as of June 30, 2019 and September 30, 2018 are summarized as follows: June 30, September 30, 2019 2018 Costs incurred on contracts in progress $ 158,951,926 $ 154,793,209 Estimated earnings, net of estimated losses 16,001,917 11,687,859 174,953,843 166,481,068 Less billings to date 161,504,303 164,388,894 $ 13,449,540 $ 2,092,174 Costs and estimated earnings in excess of billed on uncompleted contracts $ 17,249,138 $ 5,353,375 Less billings in excess of costs and estimated earnings on uncompleted contracts 3,799,598 3,261,201 $ 13,449,540 $ 2,092,174 Backlog at June 30, 2019 and September 30, 2018 was $49.8 million and $71.1 million, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Jun. 30, 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 $17.2 million at June 30, 2019 was $17.1 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	9 Months Ended
	Jun. 30, 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 nine months ended June 30, 2019 and 2018 are summarized below. Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, June 30, June 30, June 30, 2019 2018 2019 2018 Net income (loss) $ 485,757 $ 1,096,267 $ (7,317 ) $ 297,192 Dividends on preferred stock 77,250 77,250 231,750 231,750 Income (loss) available to common shareholders $ 408,507 $ 1,019,017 $ (239,067 ) $ 65,442 Weighted average shares outstanding 13,985,579 14,239,836 14,080,299 14,239,836 Weighted average shares outstanding-diluted 17,418,912 17,673,169 14,080,299 17,673,169 Earnings (loss) per share available to common shareholders $ 0.029 $ 0.072 $ (0.017 ) $ 0.005 Earnings (loss) per share available to common shareholders-diluted $ 0.023 $ 0.058 $ (0.017 ) $ 0.004

INCOME TAXES

INCOME TAXES	9 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES The components of income taxes are as follows: Nine months ended June 30, 2019 2018 Federal Current $ 183,930 $ 292,008 Deferred 72,194 (267,997 ) Total 256,124 24,011 State Current $ 52,551 $ 22,532 Deferred 26,312 (26,750 ) Total 78,863 (4,218 ) Total income tax expense $ 334,987 $ 19,793 The effective income tax rate for the nine months ended June 30, 2019 was 102.2%, as compared to 6.2% for the same period in 2018. Effective income tax rates are estimates and may vary from period to period due to changes in the amount of taxable income and non-deductible expenses. The increase in the effective income tax rate was primarily due to permanent, non-deductible per-diem expenses. The income tax effects of temporary differences giving rise to the deferred tax assets and liabilities are as follows: June 30, September 30, 2019 2018 Deferred income tax liabilities Long-term Property and equipment $ (2,040,698 ) $ (2,023,641 ) Other 19,805 (4,639 ) Total deferred income tax liabilities $ (2,020,893 ) $ (2,028,280 ) Deferred income tax assets Other 594,012 699,905 Total deferred income tax assets 594,012 699,905 Total net deferred income tax liabilities $ (1,426,881 ) $ (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	9 Months Ended
	Jun. 30, 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. This line had a $12.5 million component and a $2.5 million component, each with separate borrowing requirements. The interest rate on the line of credit is the “Wall Street Journal” Prime Rate (the index) with a floor of 4.99%. 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 (“Operating Line of Credit (2019)”) through April 28, 2020 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 against the first $12.5 million depending on the Company’s borrowing base report. The Company had borrowed an additional $4.5 million for a total of $10.0 million against the Operating Line of Credit (2019) as of May 30, 2019. On May 30, 2019, the Company entered into a financing agreement (“Term Note (2019)”) which refinanced the $10.0 million borrowed on Operating Line of Credit (2019) to a five-year term note with a fixed interest rate of 5.50%. The purpose of this note is to finance a specific construction project currently in progress and t 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 $19.0 million to be measured quarterly 2. Minimum traditional debt service coverage of 1.25x to be measured quarterly on a rolling twelve- month basis 3. Minimum current ratio of 1.50x to be measured quarterly 4. Maximum debt to tangible net worth ratio (“TNW”) of 2.0x to be measured semi-annually 5. Full review of accounts receivable aging report and work in progress. The results of the review shall be satisfactory to the lender in its sole and unfettered discretion. Under the terms of the agreement, the Company must meet the following additional requirements for draw requests causing the borrowings to exceed $12.5 million: 1. Minimum traditional debt service coverage of 2.0x to be measured quarterly on a rolling twelve-month basis 2. Minimum tangible net worth of $21.0 million to be measured quarterly The Company was in compliance with all covenants for the $12.5 million component of Operating Line of Credit (2019) at June 30, 2019. 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 2019, The Company financed $3.2 million in insurance premium policies and had an outstanding balance of $1.3 million at June 30, 2019. A summary of short-term and long-term debt as of June 30, 2019 and September 30, 2018 is as follows: June 30, September 30, 2019 2018 Line of credit payable to bank, monthly interest at 5.50%, final payment due by April 28, 2020. $ 3,000,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $73,500 including interest ranging from 0.0% to 7.62%, final payments due July 2019 through March 2024, secured by equipment. 1,146,910 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. 1,314,276 569,247 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. 1,022,871 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. 777,312 851,768 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment. 3,296,141 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. 1,136,488 1,549,651 Notes payable to bank, due in monthly installments totaling $191,012, including interest at 5.50%, final payment due May 2024 secured by equipment. 9,856,349 - 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 Total debt 21,550,347 15,759,145 Less current maturities 8,615,261 9,290,515 Total long term debt $ 12,935,086 $ 6,468,630

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 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 nine months ended June 30, 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)	9 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Schedule of material impact on the Company's financial statements adopting Topic 606	June 30, 2019 Balance Without As Reported Adjustments ASC 606 Adoption Assets Accounts receivable-trade $ 16,012,607 $ - $ 16,012,607 Contract assets 17,249,138 - 17,249,138 Other current assets 12,658,043 - 12,658,043 Total current assets 45,919,788 - 45,919,788 Total fixed assets 16,630,764 - 16,630,764 Total assets $ 62,550,552 $ - $ 62,550,552 Balance Without As Reported Adjustments ASC 606 Adoption Liabilities Contract liabilities $ 3,799,598 $ - $ 3,799,598 Other current liabilities 21,637,402 - 21,637,402 Total current liabilities 25,437,000 - 25,437,000 Other long-term liabilities 14,361,967 - 14,361,967 Total liabilities 39,798,967 - 39,798,967 Retained earnings (38,198,909 ) - (38,198,909 ) Stockholders' equity 22,751,585 - 22,751,585 Total liabilities and stockholders' equity $ 62,550,552 $ - $ 62,550,552 Balance Without As Reported Adjustments ASC 606 Adoption Revenue $ 136,257,561 $ - $ 136,257,561 Incombe before income taxes 327,670 - 327,670 Income tax expense 334,987 - 334,987 Net loss (7,317 ) - (7,317 ) Net loss available to common shareholders $ (239,067 ) $ - $ (239,067 )

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	9 Months Ended
	Jun. 30, 2019
Disaggregation of Revenue [Abstract]
Schedule of disaggregation of revenue	Three months ended June 30, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 6,716,056 $ 6,716,056 Unit price contracts 22,392,796 2,502,561 - 24,895,357 Cost plus and T&M contracts 451,454 713,787 561,000 1,726,241 Revenue from contracts in progress $ 22,844,250 $ 3,216,348 $ 7,277,056 $ 33,337,654 Lump sum contracts $ - $ - $ 1,250,797 $ 1,250,797 Unit price contracts 104,145 - - 104,145 Cost plus and T&M contracts - 3,814 5,491,568 5,495,382 Revenue from completed contracts 104,145 3,814 6,742,365 6,850,324 Total revenue from contracts $ 22,948,395 $ 3,220,162 $ 14,019,421 $ 40,187,978 Earned over time $ 22,948,395 $ 3,220,162 $ 13,610,212 $ 39,778,769 Earned at point in time - - 409,209 409,209 Total revenue from contracts $ 22,948,395 $ 3,220,162 $ 14,019,421 $ 40,187,978 Three months ended June 30, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 2,345,900 $ 2,345,900 Unit price contracts 6,807,987 (404,816 ) - 6,403,171 Cost plus and T&M contracts 563,881 (65,185 ) 3,916,784 4,415,480 Revenue from contracts in progress $ 7,371,868 $ (470,001 ) $ 6,262,684 $ 13,164,551 Lump sum contracts $ - $ - $ 3,514,076 $ 3,514,076 Unit price contracts 6,344,011 2,165,817 - 8,509,828 Cost plus and T&M contracts 2,261,953 315,133 1,784,118 4,361,204 Revenue from completed contracts 8,605,964 2,480,950 5,298,194 16,385,108 Total revenue from contracts $ 15,977,832 $ 2,010,949 $ 11,560,878 $ 29,549,659 Earned over time $ 15,977,832 $ 2,010,949 $ 11,216,150 $ 29,204,931 Earned at point in time - - 344,728 344,728 Total revenue from contracts $ 15,977,832 $ 2,010,949 $ 11,560,878 $ 29,549,659 Nine months ended June 30, 2019 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 21,126,078 $ 21,126,078 Unit price contracts 77,165,655 4,678,982 - 81,844,637 Cost plus and T&M contracts 3,275,925 1,174,912 9,332,509 13,783,346 Revenue from contracts in progress $ 80,441,580 $ 5,853,894 $ 30,458,587 $ 116,754,061 Lump sum contracts $ - $ - $ 5,490,539 $ 5,490,539 Unit price contracts 3,030,713 3,295,919 - 6,326,632 Cost plus and T&M contracts 463,339 186,555 7,036,435 7,686,329 Revenue from completed contracts 3,494,052 3,482,474 12,526,974 19,503,500 Total revenue from contracts $ 83,935,632 $ 9,336,368 $ 42,985,561 $ 136,257,561 Earned over time $ 83,935,632 $ 9,336,368 $ 42,122,630 $ 135,394,630 Earned at point in time - - 862,931 862,931 Total revenue from contracts $ 83,935,632 $ 9,336,368 $ 42,985,561 $ 136,257,561 Nine months ended June 30, 2018 Petroleum & Water, Sewer and Electrical and Total revenue Lump sum contracts $ - $ - $ 20,048,501 $ 20,048,501 Unit price contracts 15,261,112 2,355,725 - 17,616,837 Cost plus and T&M contracts 3,402,359 118,157 10,128,328 13,648,844 Revenue from contracts in progress $ 18,663,471 $ 2,473,882 $ 30,176,829 $ 51,314,182 Lump sum contracts $ - $ - $ 9,001,898 $ 9,001,898 Unit price contracts 13,238,850 3,646,469 - 16,885,319 Cost plus and T&M contracts 3,064,770 321,856 4,602,270 7,988,896 Revenue from completed contracts 16,303,620 3,968,325 13,604,168 33,876,113 Total revenue from contracts $ 34,967,091 $ 6,442,207 $ 43,780,997 $ 85,190,295 Earned over time $ 34,967,091 $ 6,442,207 $ 43,001,562 $ 84,410,860 Earned at point in time - - 779,435 779,435 Total revenue from contracts $ 34,967,091 $ 6,442,207 $ 43,780,997 $ 85,190,295

CONTRACT BALANCES (Tables)

CONTRACT BALANCES (Tables)	9 Months Ended
	Jun. 30, 2019
Contract Balances [Abstract]
Schedule of accounts receivable, contract assets and contract liabilities	September 30, 2018 June 30, 2019 Change Accounts receivable-trade $ 22,227,555 $ 16,012,607 $ (6,214,948 ) Contract assets Cost and estimated eanings in excess of billings $ 5,353,375 $ 17,249,138 $ 11,895,763 Contract liabilites Billings in excess of cost and estimated earnings $ 3,261,201 $ 3,799,598 $ 538,397

UNCOMPLETED CONTRACTS (Tables)

UNCOMPLETED CONTRACTS (Tables)	9 Months Ended
	Jun. 30, 2019
Contractors [Abstract]
Schedule of costs, estimated earnings and billings on uncompleted contracts	June 30, September 30, 2019 2018 Costs incurred on contracts in progress $ 158,951,926 $ 154,793,209 Estimated earnings, net of estimated losses 16,001,917 11,687,859 174,953,843 166,481,068 Less billings to date 161,504,303 164,388,894 $ 13,449,540 $ 2,092,174 Costs and estimated earnings in excess of billed on uncompleted contracts $ 17,249,138 $ 5,353,375 Less billings in excess of costs and estimated earnings on uncompleted contracts 3,799,598 3,261,201 $ 13,449,540 $ 2,092,174

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of compute earnings per share	Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended June 30, June 30, June 30, June 30, 2019 2018 2019 2018 Net income (loss) $ 485,757 $ 1,096,267 $ (7,317 ) $ 297,192 Dividends on preferred stock 77,250 77,250 231,750 231,750 Income (loss) available to common shareholders $ 408,507 $ 1,019,017 $ (239,067 ) $ 65,442 Weighted average shares outstanding 13,985,579 14,239,836 14,080,299 14,239,836 Weighted average shares outstanding-diluted 17,418,912 17,673,169 14,080,299 17,673,169 Earnings (loss) per share available to common shareholders $ 0.029 $ 0.072 $ (0.017 ) $ 0.005 Earnings (loss) per share available to common shareholders-diluted $ 0.023 $ 0.058 $ (0.017 ) $ 0.004

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of components of income taxes	Nine months ended June 30, 2019 2018 Federal Current $ 183,930 $ 292,008 Deferred 72,194 (267,997 ) Total 256,124 24,011 State Current $ 52,551 $ 22,532 Deferred 26,312 (26,750 ) Total 78,863 (4,218 ) Total income tax expense $ 334,987 $ 19,793
Schedule of income tax effects to deferred tax assets and liabilities	June 30, September 30, 2019 2018 Deferred income tax liabilities Long-term Property and equipment $ (2,040,698 ) $ (2,023,641 ) Other 19,805 (4,639 ) Total deferred income tax liabilities $ (2,020,893 ) $ (2,028,280 ) Deferred income tax assets Other 594,012 699,905 Total deferred income tax assets 594,012 699,905 Total net deferred income tax liabilities $ (1,426,881 ) $ (1,328,375 )

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	9 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of summary of short-term and long-term debt	June 30, September 30, 2019 2018 Line of credit payable to bank, monthly interest at 5.50%, final payment due by April 28, 2020. $ 3,000,000 $ 5,500,000 Notes payable to finance companies, due in monthly installments totaling $73,500 including interest ranging from 0.0% to 7.62%, final payments due July 2019 through March 2024, secured by equipment. 1,146,910 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. 1,314,276 569,247 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. 1,022,871 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. 777,312 851,768 Notes payable to bank, due in monthly installments totaling $98,865, including interest at 4.99%, final payment due September 2022 secured by equipment. 3,296,141 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. 1,136,488 1,549,651 Notes payable to bank, due in monthly installments totaling $191,012, including interest at 5.50%, final payment due May 2024 secured by equipment. 9,856,349 - 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 Total debt 21,550,347 15,759,145 Less current maturities 8,615,261 9,290,515 Total long term debt $ 12,935,086 $ 6,468,630

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017
Assets
Accounts receivable-trade	$ 16,012,607	$ 22,227,555
Contract assets	17,249,138	5,353,375
Other current assets	12,658,043
Total current assets	45,919,788	37,865,401
Total fixed assets	16,630,764	16,815,989
Total assets	62,550,552	54,681,390
Liabilities
Contract liabilities	3,799,598	3,261,201
Other current liabilities	21,637,402
Total current liabilities	25,437,000	23,603,338
Other long-term liabilities	14,361,967
Total liabilities	39,798,967	31,400,343
Retained earnings	(38,198,909)	(37,959,842)
Stockholders' equity	22,751,585	23,281,047	$ 21,196,261	$ 21,130,819
Total liabilities and stockholders' equity	62,550,552	$ 54,681,390
Balance Without ASC 606 Adoption
Assets
Accounts receivable-trade	16,012,607
Contract assets	17,249,138
Other current assets	12,658,043
Total current assets	45,919,788
Total fixed assets	16,630,764
Total assets	62,550,552
Liabilities
Contract liabilities	3,799,598
Other current liabilities	21,637,402
Total current liabilities	25,437,000
Other long-term liabilities	14,361,967
Total liabilities	39,798,967
Retained earnings	(38,198,909)
Stockholders' equity	22,751,585
Total liabilities and stockholders' equity	62,550,552
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		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 40,187,978	$ 29,549,659	$ 136,257,561	$ 85,190,295
Income before income taxes	941,562	1,371,862	327,670	316,985
Income tax expense	455,805	275,595	334,987	19,793
Net loss	485,757	1,096,267	(7,317)	297,192
Net loss available to common shareholders	$ 408,507	$ 1,019,017	(239,067)	$ 65,442
Balance Without ASC 606 Adoption
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue			136,257,561
Income before income taxes			327,670
Income tax expense			334,987
Net loss			(7,317)
Net loss available to common shareholders			(239,067)
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 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		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	$ 33,337,654	$ 13,164,551	$ 116,754,061	$ 51,314,182
Revenue from completed contracts	6,850,324	16,385,108	19,503,500	33,876,113
Total revenue from contracts	40,187,978	29,549,659	136,257,561	85,190,295
Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	39,778,769	29,204,931	135,394,630	84,410,860
Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	409,209	344,728	862,931	779,435
Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	6,716,056	2,345,900	21,126,078	20,048,501
Revenue from completed contracts	1,250,797	3,514,076	5,490,539	9,001,898
Unit price contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	24,895,357	6,403,171	81,844,637	17,616,837
Revenue from completed contracts	104,145	8,509,828	6,326,632	16,885,319
Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	1,726,241	4,415,480	13,783,346	13,648,844
Revenue from completed contracts	5,495,382	4,361,204	7,686,329	7,988,896
Petroleum and Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	22,844,250	7,371,868	80,441,580	18,663,471
Revenue from completed contracts	104,145	8,605,964	3,494,052	16,303,620
Total revenue from contracts	22,948,395	15,977,832	83,935,632	34,967,091
Petroleum and Gas | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	22,948,395	15,977,832	83,935,632	34,967,091
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	22,392,796	6,807,987	77,165,655	15,261,112
Revenue from completed contracts	104,145	6,344,011	3,030,713	13,238,850
Petroleum and Gas | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	451,454	563,881	3,275,925	3,402,359
Revenue from completed contracts	0	2,261,953	463,339	3,064,770
Water, Sewer and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	3,216,348	(470,001)	5,853,894	2,473,882
Revenue from completed contracts	3,814	2,480,950	3,482,474	3,968,325
Total revenue from contracts	3,220,162	2,010,949	9,336,368	6,442,207
Water, Sewer and Other | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	3,220,162	2,010,949	9,336,368	6,442,207
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	2,502,561	(404,816)	4,678,982	2,355,725
Revenue from completed contracts	0	2,165,817	3,295,919	3,646,469
Water, Sewer and Other | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	713,787	(65,185)	1,174,912	118,157
Revenue from completed contracts	3,814	315,133	186,555	321,856
Electrical and Mechanical
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	7,277,056	6,262,684	30,458,587	30,176,829
Revenue from completed contracts	6,742,365	5,298,194	12,526,974	13,604,168
Total revenue from contracts	14,019,421	11,560,878	42,985,561	43,780,997
Electrical and Mechanical | Earned over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	13,610,212	11,216,150	42,122,630	43,001,562
Electrical and Mechanical | Earned at point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts	409,209	344,728	862,931	779,435
Electrical and Mechanical | Lump sum contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	6,716,056	2,345,900	21,126,078	20,048,501
Revenue from completed contracts	1,250,797	3,514,076	5,490,539	9,001,898
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	0	0	0
Electrical and Mechanical | Cost plus and T&M contracts
Disaggregation of Revenue [Line Items]
Revenue from contracts in progress	561,000	3,916,784	9,332,509	10,128,328
Revenue from completed contracts	$ 5,491,568	$ 1,784,118	$ 7,036,435	$ 4,602,270

CONTRACT BALANCES (Details)

CONTRACT BALANCES (Details) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Contract Balances [Abstract]
Accounts receivable-trade	$ 16,012,607		$ 22,227,555
Change in accounts receivable-trade	(6,214,948)	$ (13,428,365)
Contract assets
Cost and estimated eanings in excess of billings	17,249,138		5,353,375
Change in cost and estimated eanings in excess of billings	11,895,763	1,721,942
Contract liabilites
Less billings in excess of costs and estimated earnings on uncompleted contracts	3,799,598		$ 3,261,201
Change in billings in excess of cost and estimated earnings	$ 538,397	$ (296,005)

CONTRACT BALANCES (Detail Textu

CONTRACT BALANCES (Detail Textuals) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Contract Balances [Line Items]
Accounts receivable-trade	$ 16,012,607		$ 22,227,555
Decrease in contracts receivable	(6,214,948)	$ (13,428,365)
Contract assets	17,249,138		5,353,375
Increase in contract assets	11,895,763	1,721,942
Contract liabilities	3,799,598		$ 3,261,201
(Decrease) increase in contract liabilities	538,397	$ (296,005)
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	9 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized revenue	$ (130,000)	$ 240,000
Amount of remaining unsatisfied performance obligations	$ 17,400,000	$ 17,400,000
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billing and payment term		30 days
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Billing and payment term		45 days

UNCOMPLETED CONTRACTS - Summary

UNCOMPLETED CONTRACTS - Summary of costs, estimated earnings, and billings on uncompleted contracts (Details) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Contractors [Abstract]
Costs incurred on contracts in progress	$ 158,951,926	$ 154,793,209
Estimated earnings, net of estimated losses	16,001,917	11,687,859
Costs of uncompleted contracts including net estimated earnings	174,953,843	166,481,068
Less billings to date	161,504,303	164,388,894
Unbilled contracts receivable	13,449,540	2,092,174
Costs and estimated earnings in excess of billed on uncompleted contracts	17,249,138	5,353,375
Less billings in excess of costs and estimated earnings on uncompleted contracts	3,799,598	3,261,201
Unbilled contracts receivable	$ 13,449,540	$ 2,092,174

UNCOMPLETED CONTRACTS (Detail T

UNCOMPLETED CONTRACTS (Detail Textuals) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Contractors [Abstract]
Backlog	$ 49.8	$ 71.1

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Detail Textuals) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Aggregate principal amount of fixed-rate debt	$ 17.2	$ 10.3
Fair value of aggregate principal amount of fixed-rate debt	$ 17.1	$ 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		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ 485,757	$ 1,096,267	$ (7,317)	$ 297,192
Dividends on preferred stock	77,250	77,250	231,750	231,750
Income (loss) available to common shareholders	$ 408,507	$ 1,019,017	$ (239,067)	$ 65,442
Weighted average shares outstanding (in shares)	13,985,579	14,239,836	14,080,299	14,239,836
Weighted average shares outstanding-diluted (in shares)	17,418,912	17,673,169	14,080,299	17,673,169
Earnings (loss) per share available to common shareholders (in dollars per share)	$ 0.029	$ 0.072	$ (0.017)	$ 0.005
Earnings (loss) per share available to common shareholders-diluted (in dollars per share)	$ 0.023	$ 0.058	$ (0.017)	$ 0.004

INCOME TAXES - Components of in

INCOME TAXES - Components of income taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Federal
Current			$ 183,930	$ 292,008
Deferred			72,194	(267,997)
Total			256,124	24,011
State
Current			52,551	22,532
Deferred			26,312	(26,750)
Total			78,863	(4,218)
Total income tax expense	$ 455,805	$ 275,595	$ 334,987	$ 19,793

INCOME TAXES - Summary of incom

INCOME TAXES - Summary of income tax effects of temporary differences giving rise to deferred tax liabilities (Details 1) - USD ($)	Jun. 30, 2019	Sep. 30, 2018
Deferred income tax liabilities Long-term
Property and equipment	$ (2,040,698)	$ (2,023,641)
Other	19,805	(4,639)
Total deferred income tax liabilities	(2,020,893)	(2,028,280)
Deferred income tax assets
Other	594,012	699,905
Total deferred income tax assets	594,012	699,905
Total net deferred income tax liabilities	$ (1,426,881)	$ (1,328,375)

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	9 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	102.20%	6.20%
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 ($)	Jun. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Total debt	$ 21,550,347	$ 15,759,145
Less current maturities	8,615,261	9,290,515
Total long term debt	12,935,086	6,468,630
Line of credit payable to bank, final payment due by April 28, 2020
Debt Instrument [Line Items]
Total debt	3,000,000	5,500,000
Notes payable to finance companies, final payments due July 2019 through March 2024
Debt Instrument [Line Items]
Total debt	1,146,910	1,332,993
Note payable to finance company for insurance premiums financed due November 2019 in monthly installments
Debt Instrument [Line Items]
Total debt	1,314,276	569,247
Notes payable to bank, final payment due November 2034
Debt Instrument [Line Items]
Total debt	1,022,871	1,054,248
Notes payable to bank, final payment due November 2025
Debt Instrument [Line Items]
Total debt	777,312	851,768
Notes payable to bank, final payment due September 2022
Debt Instrument [Line Items]
Total debt	3,296,141	4,045,025
Notes payable to bank, final payment due September 2021
Debt Instrument [Line Items]
Total debt	1,136,488	1,549,651
Notes payable to bank, final payment due May 2024
Debt Instrument [Line Items]
Total debt	9,856,349	0
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

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT - Summary of short-term and long-term debt (Parentheticals) (Details)	9 Months Ended
	Jun. 30, 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 July 2019 through March 2024
Debt Instrument [Line Items]
Note payable in monthly installments	$ 73,500
Notes payable to finance companies, final payments due July 2019 through March 2024 | Minimum
Debt Instrument [Line Items]
Interest rate	0.00%
Notes payable to finance companies, final payments due July 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, 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%
Notes payable to bank, final payment due May 2024
Debt Instrument [Line Items]
Note payable in monthly installments	$ 191,012
Interest rate	5.50%
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%

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT (Detail Textuals) - USD ($) $ in Millions	1 Months Ended		9 Months Ended
	May 30, 2019	Mar. 21, 2018	Jun. 30, 2019	Sep. 30, 2018
Line of Credit Facility [Line Items]
Insurance policy amount			$ 3.2
Insurance policy premium outstanding			1.3
Financing agreement "Operating Line of Credit (2019"
Line of Credit Facility [Line Items]
Line of credit	$ 10		3
Interest rate on the line of credit description	5.50%.
Amount borrowed against the line of credit			12.5
Amount available to borrowing			9.5
Additional line of credit	$ 4.5
United Bank, Inc. | Financing agreement "Operating Line of Credit (2018)"
Line of Credit Facility [Line Items]
Line of credit		$ 15	$ 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%
United Bank, Inc. | Financing agreement "Operating Line of Credit (2018)" | 12.5 million component
Line of Credit Facility [Line Items]
Line of credit		$ 12.5
Amount borrowed against the line of credit				$ 5.5
Amount available to borrowing				$ 7
United Bank, Inc. | Financing agreement "Operating Line of Credit (2018)" | 2.5 million component
Line of Credit Facility [Line Items]
Line of credit		$ 2.5
United Bank, Inc. | Financing agreement "Operating Line of Credit (2019"
Line of Credit Facility [Line Items]
Percentage of eligible accounts receivable			70.00%
Amount of loan covenants			$ 12.5
Minimum tangible net worth			$ 19
Minimum traditional debt service coverage ratio			1.25x
Minimum current ratio			1.50x
Maximum debt to tangible net worth ratio			2.0x
Traditional debt service coverage ratio			2.0x
Amount of minimum tangible net worth			$ 21