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Discontinued Operations

3 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

During fiscal 2019, the Company reached a strategic decision to exit the environmental products business, which was part of Industrial Services group. Additionally, the Company sold its Electronics Manufacturing segment. Accordingly, the Company has reported the results of the environmental control products business and the Electronics Manufacturing segment as discontinued operations in the Consolidated Statements of Operations and in the Consolidated Balance Sheets.

		December 31,				September 30,
		2019				2019
Assets
Current assets
Trade receivables - related party			55,600				55,600
Total current assets			55,600				55,600

Property and equipment, net			8,761,677				8,761,677
Total Assets		$	8,817,277			$	8,817,277

Liabilities
Current liabilities
Accounts payable		$	263,832			$	263,832
Total liabilities		$	263,832			$	263,832

Income (loss) from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of the ROB Cemtrex Companies and the environmental products business which are presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the three months ended December 31, 2019 and 2018, are as follows:

		Three months ended December 31,
		2019				2018

Total net sales		$	-			$	11,566,955
Cost of sales			-				6,759,419
Operating, selling, general and administrative expenses			-				4,905,613
Other expenses			-				16,278
Income (loss) from discontinued operations			-				(114,355	)
Loss on sale of discontinued operations			-				-
Income tax provision			-				66,899
Discontinued operations, net of tax			-				(181,254	)