Energy Services of America (ESOA) 10-Q 12 Aug 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Jun. 30, 2014	Aug. 12, 2014
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	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	14,239,836
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Sep. 30, 2013
Current Assets	'	'
Cash and cash equivalents	$3,963,512	$6,152,382
Accounts receivable-trade	11,664,944	16,774,884
Allowance for doubtful accounts	-158,487	-236,657
Retainages receivable	728,448	2,666,066
Other receivables	443,006	271,572
Costs and estimated earnings in excess of billings on uncompleted contracts	5,105,105	9,034,956
Deferred tax asset	1,920,827	1,809,684
Prepaid expenses and other	2,612,423	2,191,551
Assets of discontinued operations	1,272,334	2,274,079
Total Current Assets	27,552,112	40,938,517
Property, plant and equipment, at cost	29,799,654	28,801,218
less accumulated depreciation	-21,570,005	-19,198,168
Assets of discontinued operations, net	'	155,833
Total Noncurrent Assets	8,229,649	9,758,883
Total Assets	35,781,761	50,697,400
Current Liabilities	'	'
Current maturities of long-term debt	2,712,878	5,280,558
Lines of credit and short term borrowings	570,059	10,132,667
Accounts payable	2,147,035	6,367,120
Accrued expenses and other current liabilities	2,146,509	3,422,385
Billings in excess of costs and estimated earnings on uncompleted contracts	1,123,897	3,697,887
Income tax payable	32,606	384,303
Liabilities of discontinued operations	487,651	1,370,465
Total Current Liabilities	9,220,635	30,655,385
Long-term debt, less current maturities	8,426,182	1,058,720
Deferred income taxes payable	2,267,075	3,283,124
Liabilities of discontinued operations	13,170	756,983
Total Liabilities	19,927,062	35,754,212
Stockholders' equity	'	'
Preferred stock, $.0001 par value Authorized 1,000,000 shares, 206 issued for June 2014 and 196 issued for September 2013	'	'
Common stock, $.0001 par value Authorized 50,000,000 shares 14,839,836 issued and 14,239,836 outstanding for June 2014 and 14,814,836 issued and 14,514,836 outstanding for September 2013	1,484	1,481
Treasury stock, 600,000 shares at June 30, 2014 and 300,000 shares at September 30, 2013	-60	-30
Additional paid in capital	61,289,260	61,039,262
Retained earnings (deficit)	-45,435,985	-46,097,525
Total Stockholders' equity	15,854,699	14,943,188
Total liabilities and stockholders' equity	$35,781,761	$50,697,400

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Statement Of Financial Position [Abstract]	'	'
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	206	196
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	14,839,836	14,814,836
Common stock, shares outstanding	14,239,836	14,514,836
Treasury stock	600,000	300,000

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME Unaudited (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Revenue	$21,486,057	$30,690,169	$60,580,891	$78,424,217
Cost of revenues	19,762,712	28,272,270	55,216,775	71,185,726
Gross profit	1,723,345	2,417,899	5,364,116	7,238,491
Selling and administrative expenses	1,531,682	1,874,833	4,920,068	6,457,512
Income from operations	191,663	543,066	444,048	780,979
Other income (expense)	'	'	'	'
Interest income	1,414	-489	1,191	230
Other nonoperating income (expense)	-5,386	1,109	6,720	-15,898
Interest expense	-187,223	-429,004	-647,867	-1,384,146
Gain (loss) on sale of equipment	-2,911	262,396	18,329	556,647
Other income (expense), total	-194,106	-165,988	-621,627	-843,167
Income (loss) from continuing operations before income taxes	-2,443	377,078	-177,579	-62,188
Income tax expense (benefit)	-546,330	253,209	-1,174,847	230,094
Income (loss) from continuing operations	543,887	123,869	997,268	-292,282
Dividends on preferred stock	77,250	'	309,000	'
Income (loss) from continuing operations available to common shareholders	466,637	123,869	688,268	-292,282
Income (loss) from discontinued operations net of tax expense	-27,849	2,808,198	-26,728	1,265,130
Net income available to common shareholders	$438,788	$2,932,067	$661,540	$972,848
Weighted average shares outstanding-basic (in shares)	14,239,836	14,458,836	14,426,796	14,458,836
Weighted average shares-diluted (in shares)	17,673,169	14,458,836	17,831,802	14,458,836
Earnings (loss) per share from continuing operations available to common shareholders (in dollars per share)	$0.03	$0.01	$0.05	($0.02)
Earnings (loss) per share from continuing operations-diluted available to common shareholders (in dollars per share)	$0.03	$0.01	$0.04	($0.02)
Earnings per share available to common shareholders (in dollars per share)	$0.03	$0.20	$0.05	$0.07
Earnings per share-diluted available to common shareholders (in dollars per share)	$0.03	$0.20	$0.04	$0.07

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited (USD $)	9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income available to common shareholders	$661,540	$972,848
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation expense	2,538,052	3,318,695
Provision for bad debts	'	300,000
(Gain) loss on sale/disposal of equipment	2,504	-2,701,901
Provision for deferred taxes	-1,073,935	-872,844
Share-based compensation expense	'	28,483
Decrease in contracts receivable	4,763,339	1,495,968
(Increase) decrease in retainage receivable	2,228,306	-11,222
(Increase) decrease in other receivables	-148,627	46,476
Decrease in cost and estimated earnings in excess of billings on uncompleted contracts	3,929,851	3,480,082
Increase in prepaid expenses	-420,872	-888,377
Decrease in accounts payable	-5,081,207	-5,023,111
Increase (decrease) in accrued expenses	-1,235,034	66,969
Increase (decrease) in billings in excess of cost and estimated earnings on uncompleted contracts	-2,573,990	1,990,510
Decrease in income taxes payable	-414,231	'
Net cash provided by operating activities	3,175,696	2,202,576
Cash flows from investing activities:	'	'
Investment in property & equipment	-1,040,632	-563,088
Proceeds from sales of property and equipment	171,940	8,805,630
Net cash provided by (used in) investing activities	-868,692	8,242,542
Cash flows from financing activities:	'	'
Proceeds from private placement of preferred stock	249,998	'
Par value of stock issued to preferred shareholders	3	'
Treasury stock purchased by company	-30	'
Borrowings on lines of credit and short term debt, net of (repayments)	-9,562,608	-6,507,623
Proceeds from long term debt	10,457,965	'
Principal payments on long term debt	-5,800,813	-4,959,454
Net cash used in financing activities	-4,655,485	-11,467,077
Decrease in cash and cash equivalents	-2,348,481	-1,021,959
Cash beginning of period	6,339,882	2,661,721
Cash end of period	3,991,401	1,639,762
Supplemental schedule of noncash investing and financing activities:	'	'
Purchases of property & equipment under financing agreements	142,630	173,106
Insurance premiums financed	2,268,510	2,784,193
Cash paid during the year for:	'	'
Interest	724,934	1,346,206
Income taxes	308,013	'
Insurance premiums	1,919,783	2,427,308
Dividends paid on preferred stock	$309,000	'

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Common Stock	Additional Paid in Capital	Retained Earnings (deficit)	Treasury Stock	Total
Balance at Sep. 30, 2012	$1,446	$56,107,650	($49,667,731)	'	$6,441,365
Balance (in shares) at Sep. 30, 2012	14,458,836	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Share-based compensation expense	'	28,483	'	'	28,483
Net income	'	'	972,848	'	972,848
Balance at Jun. 30, 2013	1,446	56,136,133	-48,694,883	'	7,442,696
Balance (in shares) at Jun. 30, 2013	14,458,836	'	'	'	'
Balance at Sep. 30, 2013	1,481	61,039,262	-46,097,525	-30	14,943,188
Balance (in shares) at Sep. 30, 2013	14,514,836	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Private placement of preferred stock	'	249,998	'	'	249,998
Common stock issued from private placement	3	'	'	'	3
Common stock issued from private placement (in shares)	25,000	'	'	'	'
Treasury stock purchased by company	'	'	'	-30	-30
Treasury stock purchased by company (in shares)	-300,000	'	'	'	'
Dividends on preferred stock	'	'	-309,000	'	-309,000
Net income	'	'	970,540	'	970,540
Balance at Jun. 30, 2014	$1,484	$61,289,260	($45,435,985)	($60)	$15,854,699
Balance (in shares) at Jun. 30, 2014	14,239,836	'	'	'	'

BUSINESS_AND_ORGANIZATION

BUSINESS AND ORGANIZATION	9 Months Ended
	Jun. 30, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
BUSINESS AND ORGANIZATION	'
	1.   BUSINESS AND ORGANIZATION:
	Energy Services of America Corporation (the Company or Energy Services) was incorporated in Delaware on March 31, 2006 as a blank check company whose objective was to acquire an operating business or businesses.  The Company operated as a blank check company until August 15, 2008.  On that date, the Company acquired S.T. Pipeline, Inc. and C.J. Hughes Construction Company, Inc. with proceeds from the Company’s Initial Public Offering.  C. J Hughes currently operates as the Company’s sole wholly owned subsidiary.
	S.T. Pipeline, Inc. (S.T.) was incorporated in May 1990 under the laws of the State of West Virginia.  S.T. engaged in the construction of natural gas pipelines for utility companies in various states, mostly in the mid-Atlantic area of the country.  On May 14, 2013, the Company liquidated the operation of S.T. and realized $1.9 million from the sale.  The financial position and results of operations of S.T. have been presented as discontinued operations in the accompanying financial statements for all presented periods.
	C.J. Hughes Construction Company, Inc. (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.  Nitro Electric Company, Inc. (Nitro Electric), a wholly owned subsidiary of C. J. Hughes, is involved in electrical contracting providing its services to the power and refining industries.  Nitro Electric operates primarily in the mid-Atlantic region of the United States.  Contractors Rental Corporation, Inc. (Contractors Rental), a wholly owned subsidiary of C.J. Hughes, is involved in main line pipeline installation and repairs in the mid-Atlantic region of the country as well.  All of the C.J. Hughes, Nitro Electric, 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.
	The Company’s stock trades under the symbol “ESOA” on the Over-the-Counter market.
	Interim Financial Statements
	The accompanying unaudited 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 financial statements and footnotes thereto for the years ended September 30, 2013 and 2012 included in the Company’s Form 10-K filed December 20, 2013.  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 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 month periods ended June 30, 2014 are not necessarily indicative of the results to be expected for the full year.
	Principles of Consolidation
	The consolidated financial statements of Energy Services include the accounts of Energy Services and its wholly owned subsidiary.  S.T. has been shown as discontinued operations for the three months and nine months ended June 30, 2014 and 2013.  All significant intercompany accounts and transactions have been eliminated in consolidation.  Unless the context requires otherwise, references to Energy Services include Energy Services and its consolidated subsidiary.
	Reclassifications
	Certain reclassifications have been made in prior years’ financial statements to conform to classifications used in the current year.

UNCOMPLETED_CONTRACTS

UNCOMPLETED CONTRACTS	9 Months Ended
	Jun. 30, 2014
Contractors [Abstract]	'
UNCOMPLETED CONTRACTS	'
	2.  UNCOMPLETED CONTRACTS
	Costs, estimated earnings, and billings on uncompleted contracts as of June 30, 2014 and September 30, 2013 are summarized as follows:
		30-Jun-14		30-Sep-13
	Costs incurred on uncompleted contracts	$	89,319,389	$	159,962,769
	Estimated earnings, net of estimated losses		11,667,464		3,929,091
			100,986,853		163,891,860
	Less billing to date		97,005,645		158,554,791
		$	3,981,208	$	5,337,069
	Costs and estimated earnings in excess of billings on uncompleted contracts	$	5,105,105	$	9,034,956
	Less billings in excess of costs and estimated earnings on uncompleted contracts		1,123,897		3,697,887
		$	3,981,208	$	5,337,069
	Backlog at June 30, 2014 and September 30, 2013 was $55.0 million and $52.6 million respectively.

CLAIMS

CLAIMS	9 Months Ended
	Jun. 30, 2014
Claims [Abstract]	'
CLAIMS	'
	3.  CLAIMS
	The Company had claims against third parties valued at $2,200,000 at September 30, 2013.  On December 5, 2013, the Company entered into a settlement agreement for $2,350,000.  The agreement called for payment to be received by the Company within 10 days of execution.  The Company received payment of the full amount on December 13, 2013.  The Company does not have any claims recorded as of June 30, 2014.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE MEASUREMENTS	'
	4.  FAIR VALUE MEASUREMENTS
	The Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements.
	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 — Quoted prices for identical assets and liabilities traded in active exchange markets, such as the New York Stock Exchange.
	Level 2 — Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data.
	Level 3 — Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation; also includes observable inputs for nonbinding single dealer quotes not corroborated by observable market data.
	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 $11.7 million at June 30, 2014 was $11.5 million.
	The Company uses fair value measurements on a non-recurring basis in its assessment of goodwill and long-lived assets held and used. In accordance with its annual impairment test during the quarter ended September 30, 2012, the Company recorded a goodwill impairment charge of $36.9 million, which represented the entire amount of goodwill carried on the Company’s balance sheet.  Refer to Note 4, Goodwill and Intangible Assets of the Company’s September 30, 2013 10-K filing for further information.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
DISCONTINUED OPERATIONS	'
	5. DISCONTINUED OPERATIONS
	Due to organizational changes and operating losses incurred in fiscal year 2012, the Company decided to discontinue the operations of its wholly owned subsidiary S.T. On May 14, 2013, the Company liquidated the operations of S.T. and realized $1.9 million from the sale.
	The operating results for S.T. Pipeline, Inc. for the three months and nine months ended June 30, 2014 and 2013 are as follows:
		Three Months Ended			Three Months Ended			Nine Month Ended			Nine Month Ended
		June 30,			June 30,			June 30,			June 30,
		2014			2013			2014			2013
	Revenue		-			303,780			(3,000	)		2,100,284
	Cost of revenues		-			479,746			(106,734	)		3,161,707
	Gross profit (loss)		-			(175,966	)		103,734			(1,061,423	)
	Selling and administrative expenses		-			110,495			83,301			921,113
	Income (loss) from operations		-			(286,461	)		20,433			(1,982,536	)
	Other income (expense)
	Interest income		-			(1,088	)		-			-
	Other nonoperating income (expense)		-			489			400			-
	Interest expense		-			(526	)		-			(526	)
	Gain (loss) on sale of equipment		-			1,925,786			(20,833	)		2,145,254
			-			1,924,661			(20,433	)		2,144,728
	Income before income taxes		-			1,638,200			-			162,192
	Income tax expense (benefit)		27,849			(1,169,998	)		26,728			(1,102,938	)
	Net income (loss)	$	(27,849	)	$	2,808,198		$	(26,728	)	$	1,265,130
	The following table shows the components of asset and liabilities that are classified as discontinued operations in the Company’s consolidated balances sheets for quarter ended June 30, 2014 and year ended September 30, 2013.
		June 30,			September 30,
		2014			2013
	Cash	$	27,889		$	187,500
	Accounts receivable, net		-			(268,431	)
	Retainages receivable		-			290,688
	Deferred tax asset		1,244,445			2,041,515
	Prepaid and other current assets		-			22,807
	Assets of discontinued operations-current		1,272,334			2,274,079
	Property, plant, and equipment, net		-			155,833
	Total assets of discontinued operations		1,272,334			2,429,912
	Accounts payable		496,227			1,357,349
	Accrued expenses and other current liabilities		(8,576	)		13,116
	Liabilities of discontinued operations-current		487,651			1,370,465
	Liabilities of discontinued operations-long term		13,170			756,983
	Total liabilities of discontinued operations		500,821			2,127,448
	Net assets	$	771,513		$	302,464

EARNINGS_PER_SHARE

EARNINGS PER SHARE	9 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	6. EARNINGS PER SHARE
	The amounts used to compute the earnings per share for the three months and nine months ended June 30, 2014 and 2013 are summarized below.
		Three Months Ended			Three Months Ended		Nine Months			Nine Months
		June 30,			June 30,		June 30,			June 30,
		2014			2013		2014			2013
	Income (loss) from continuting operations	$	543,887		$	123,869	$	997,268		$	(292,282	)
	Dividends on preferred stock		77,250			-		309,000			-
	Income (loss) available to common shareholders-continuing operations	$	466,637		$	123,869	$	688,268		$	(292,282	)
	Weighted average shares outstanding		14,239,836			14,458,836		14,426,796			14,458,836
	Weighted average shares outstanding-diluted		17,673,169			14,458,836		17,831,802			14,458,836
	Earnings (losss) per share from continuing operations available to common shareholders	$	0.033		$	0.009	$	0.048		$	(0.020	)
	Earnings (losss) per share from continuing operations available to common shareholders-diluted	$	0.026		$	0.009	$	0.039		$	(0.020	)
	Income (loss) from discontinued operations	$	(27,849	)	$	2,808,198	$	(26,728	)	$	1,265,130
	Weighted average shares outstanding		14,239,836			14,458,836		14,426,796			14,458,836
	Weighted average shares outstanding-diluted		17,673,169			14,458,836		17,831,802			14,458,836
	Earnings (loss) per share from discontinued operations	$	(0.002	)	$	0.194	$	(0.002	)	$	0.087
	Earnings (loss) per share from discontinued operations-diluted	$	(0.002	)	$	0.194	$	(0.001	)	$	0.087
	Net income	$	516,038		$	2,932,067	$	970,540		$	972,848
	Dividends on preferred stock		77,250			-		309,000			-
	Net income available to common shareholders	$	438,788		$	2,932,067	$	661,540		$	972,848
	Earnings per share available to common shareholders	$	0.031		$	0.203	$	0.046		$	0.067
	Earnings per share available to common shareholders-diluted	$	0.025		$	0.203	$	0.037		$	0.067

UNCOMPLETED_CONTRACTS_Tables

UNCOMPLETED CONTRACTS (Tables)	9 Months Ended
	Jun. 30, 2014
Contractors [Abstract]	'
Schedule of costs, estimated earnings and billings on uncompleted contracts	'
		30-Jun-14		30-Sep-13
	Costs incurred on uncompleted contracts	$	89,319,389	$	159,962,769
	Estimated earnings, net of estimated losses		11,667,464		3,929,091
			100,986,853		163,891,860
	Less billing to date		97,005,645		158,554,791
		$	3,981,208	$	5,337,069
	Costs and estimated earnings in excess of billings on uncompleted contracts	$	5,105,105	$	9,034,956
	Less billings in excess of costs and estimated earnings on uncompleted contracts		1,123,897		3,697,887
		$	3,981,208	$	5,337,069

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of operating results for S.T. Pipeline, Inc.	'
		Three Months Ended			Three Months Ended			Nine Month Ended			Nine Month Ended
		June 30,			June 30,			June 30,			June 30,
		2014			2013			2014			2013
	Revenue		-			303,780			(3,000	)		2,100,284
	Cost of revenues		-			479,746			(106,734	)		3,161,707
	Gross profit (loss)		-			(175,966	)		103,734			(1,061,423	)
	Selling and administrative expenses		-			110,495			83,301			921,113
	Income (loss) from operations		-			(286,461	)		20,433			(1,982,536	)
	Other income (expense)
	Interest income		-			(1,088	)		-			-
	Other nonoperating income (expense)		-			489			400			-
	Interest expense		-			(526	)		-			(526	)
	Gain (loss) on sale of equipment		-			1,925,786			(20,833	)		2,145,254
			-			1,924,661			(20,433	)		2,144,728
	Income before income taxes		-			1,638,200			-			162,192
	Income tax expense (benefit)		27,849			(1,169,998	)		26,728			(1,102,938	)
	Net income (loss)	$	(27,849	)	$	2,808,198		$	(26,728	)	$	1,265,130
Schedule of components of asset and liabilities classified as discontinued operations	'
		June 30,			September 30,
		2014			2013
	Cash	$	27,889		$	187,500
	Accounts receivable, net		-			(268,431	)
	Retainages receivable		-			290,688
	Deferred tax asset		1,244,445			2,041,515
	Prepaid and other current assets		-			22,807
	Assets of discontinued operations-current		1,272,334			2,274,079
	Property, plant, and equipment, net		-			155,833
	Total assets of discontinued operations		1,272,334			2,429,912
	Accounts payable		496,227			1,357,349
	Accrued expenses and other current liabilities		(8,576	)		13,116
	Liabilities of discontinued operations-current		487,651			1,370,465
	Liabilities of discontinued operations-long term		13,170			756,983
	Total liabilities of discontinued operations		500,821			2,127,448
	Net assets	$	771,513		$	302,464

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	9 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of basic and diluted earnings per share	'
		Three Months Ended			Three Months Ended		Nine Months			Nine Months
		June 30,			June 30,		June 30,			June 30,
		2014			2013		2014			2013
	Income (loss) from continuting operations	$	543,887		$	123,869	$	997,268		$	(292,282	)
	Dividends on preferred stock		77,250			-		309,000			-
	Income (loss) available to common shareholders-continuing operations	$	466,637		$	123,869	$	688,268		$	(292,282	)
	Weighted average shares outstanding		14,239,836			14,458,836		14,426,796			14,458,836
	Weighted average shares outstanding-diluted		17,673,169			14,458,836		17,831,802			14,458,836
	Earnings (losss) per share from continuing operations available to common shareholders	$	0.033		$	0.009	$	0.048		$	(0.020	)
	Earnings (losss) per share from continuing operations available to common shareholders-diluted	$	0.026		$	0.009	$	0.039		$	(0.020	)
	Income (loss) from discontinued operations	$	(27,849	)	$	2,808,198	$	(26,728	)	$	1,265,130
	Weighted average shares outstanding		14,239,836			14,458,836		14,426,796			14,458,836
	Weighted average shares outstanding-diluted		17,673,169			14,458,836		17,831,802			14,458,836
	Earnings (loss) per share from discontinued operations	$	(0.002	)	$	0.194	$	(0.002	)	$	0.087
	Earnings (loss) per share from discontinued operations-diluted	$	(0.002	)	$	0.194	$	(0.001	)	$	0.087
	Net income	$	516,038		$	2,932,067	$	970,540		$	972,848
	Dividends on preferred stock		77,250			-		309,000			-
	Net income available to common shareholders	$	438,788		$	2,932,067	$	661,540		$	972,848
	Earnings per share available to common shareholders	$	0.031		$	0.203	$	0.046		$	0.067
	Earnings per share available to common shareholders-diluted	$	0.025		$	0.203	$	0.037		$	0.067

BUSINESS_AND_ORGANIZATION_Deta

BUSINESS AND ORGANIZATION (Detail Textuals) (S.T. Pipeline, Inc., USD $)	0 Months Ended
	14-May-13
S.T. Pipeline, Inc.	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'
Net income (loss)	$1,900,000

UNCOMPLETED_CONTRACTS_Costs_es

UNCOMPLETED CONTRACTS - Costs, estimated earnings, and billings on uncompleted contracts (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Contractors [Abstract]	'	'
Costs incurred on uncompleted contracts	$89,319,389	$159,962,769
Estimated earnings, net of estimated losses	11,667,464	3,929,091
Costs of uncomplete contracts including net estimated earnings	100,986,853	163,891,860
Less billing to date	97,005,645	158,554,791
Unbilled contracts receivable	3,981,208	5,337,069
Costs and estimated earnings in excess of billings on uncompleted contracts	5,105,105	9,034,956
Less billings in excess of costs and estimated earnings on uncompleted contracts	1,123,897	3,697,887
Unbilled contracts receivable	$3,981,208	$5,337,069

UNCOMPLETED_CONTRACTS_Detail_T

UNCOMPLETED CONTRACTS (Detail Textuals) (USD $)	Jun. 30, 2014	Sep. 30, 2013
In Millions, unless otherwise specified
Contractors [Abstract]	'	'
Backlog of uncompleted contracts	$55	$52.60

CLAIMS_Detail_Textuals

CLAIMS (Detail Textuals) (USD $)	0 Months Ended
	Dec. 05, 2013	Sep. 30, 2013
Claims [Abstract]	'	'
Claims against third parties	'	$2,200,000
Amount of settlement agreement	$2,350,000	'
Number of days of execution for payment received	'10 days	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Detail Textuals) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2012	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'	'
Aggregate principal amount of fixed-rate debt	'	$11.70
Fair value of company's fixed rate debt	'	11.5
Goodwill impairment charge	$36.90	'

DISCONTINUED_OPERATIONS_Operat

DISCONTINUED OPERATIONS - Operating results for S.T. Pipeline, Inc. (Details) (S.T. Pipeline, Inc., USD $)	0 Months Ended	3 Months Ended		9 Months Ended
	14-May-13	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
		Discontinued Operations	Discontinued Operations	Discontinued Operations	Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Revenue	'	'	$303,780	($3,000)	$2,100,284
Cost of revenues	'	'	479,746	-106,734	3,161,707
Gross profit (loss)	'	'	-175,966	103,734	-1,061,423
Selling and administrative expenses	'	'	110,495	83,301	921,113
Income (loss) from operations	'	'	-286,461	20,433	-1,982,536
Other income (expense)	'	'	'	'	'
Interest income	'	'	-1,088	'	'
Other nonoperating income (expense)	'	'	489	400	'
Interest expense	'	'	-526	'	-526
Gain (loss) on sale of equipment	'	'	1,925,786	-20,833	2,145,254
Other income (expense), before income tax	'	'	1,924,661	-20,433	2,144,728
Income before income taxes	'	'	1,638,200	'	162,192
Income tax expense (benefit)	'	27,849	-1,169,998	26,728	-1,102,938
Net income (loss)	$1,900,000	($27,849)	$2,808,198	($26,728)	$1,265,130

DISCONTINUED_OPERATIONS_Compon

DISCONTINUED OPERATIONS - Components of asset and liabilities that are classified as discontinued operations (Details 1) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Assets of discontinued operations-current	$1,272,334	$2,274,079
Property, plant, and equipment, net	'	155,833
Liabilities of discontinued operations-current	487,651	1,370,465
Liabilities of discontinued operations-long term	13,170	756,983
S.T. Pipeline, Inc. | Discontinued Operations	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Cash	27,889	187,500
Accounts receivable, net	'	-268,431
Retainages receivable	'	290,688
Deferred tax asset	1,244,445	2,041,515
Prepaid and other current assets	'	22,807
Assets of discontinued operations-current	1,272,334	2,274,079
Property, plant, and equipment, net	'	155,833
Total assets of discontinued operations	1,272,334	2,429,912
Accounts payable	496,227	1,357,349
Accrued expenses and other current liabilities	-8,576	13,116
Liabilities of discontinued operations-current	487,651	1,370,465
Liabilities of discontinued operations-long term	13,170	756,983
Total liabilities of discontinued operations	500,821	2,127,448
Net assets	$771,513	$302,464

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Detail Textuals) (S.T. Pipeline, Inc., USD $)	0 Months Ended
	14-May-13
S.T. Pipeline, Inc.	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'
Net income (loss)	$1,900,000

EARNINGS_PER_SHARE_Amounts_use

EARNINGS PER SHARE - Amounts used to compute earnings per share (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Income (loss) from continuing operations	$543,887	$123,869	$997,268	($292,282)
Dividends on preferred stock	77,250	'	309,000	'
Income (loss) available to common shareholders-continuing operations	466,637	123,869	688,268	-292,282
Weighted average shares outstanding (in shares)	14,239,836	14,458,836	14,426,796	14,458,836
Weighted average shares outstanding-diluted (in shares)	17,673,169	14,458,836	17,831,802	14,458,836
Earnings (loss) per share from continuing operations available to common shareholders (in dollars per share)	$0.03	$0.01	$0.05	($0.02)
Earnings (loss) per share from continuing operations available to common shareholders-diluted (in dollars per share)	$0.03	$0.01	$0.04	($0.02)
Income (loss) from discontinued operations	-27,849	2,808,198	-26,728	1,265,130
Weighted average shares outstanding (in shares)	14,239,836	14,458,836	14,426,796	14,458,836
Weighted average shares outstanding - diluted (in shares)	17,673,169	14,458,836	17,831,802	14,458,836
Earnings (loss) per share from discontinued operations	($0.00)	$0.19	($0.00)	$0.09
Earnings (loss) per share from discontinued operations-diluted	($0.00)	$0.19	($0.00)	$0.09
Net income	516,038	2,932,067	970,540	972,848
Dividends on preferred stock	77,250	'	309,000	'
Net income available to common shareholders	$438,788	$2,932,067	$661,540	$972,848
Earnings per share available to common shareholders (in dollars per share)	$0.03	$0.20	$0.05	$0.07
Earnings per share available to common shareholders-diluted (in dollars per share)	$0.03	$0.20	$0.04	$0.07