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RESTATEMENTS OF FINANCIAL STATEMENTS (Tables)

12 Months Ended

Sep. 30, 2021

Restatements Of Financial Statements

SCHEDULE OF CONDENSED CONSOLIDATED BALANCE SHEETS

Condensed Consolidated Balance Sheets

 SCHEDULE OF CONDENSED CONSOLIDATED BALANCE SHEETS

		Balance as reported on September 30, 2020				Adjustment of net value of intangible assets				Adjustment resulting from reaudit of Fiscal Year 2020 Financial Statements				Adjustment of net value of inventory				Adjustment of net value of fixed assets				Cumulative effect of restatement adjustments				Loss on amounts transferred to First Commercial				Restatement on Dividends				Cumulative effect of currency translation				Adjusted balance at September 30, 2020
Cash and equivalents		$	19,490,061							$	(3,038	)																										$	19,487,023
Prepaid expenses and other assets		$	1,188,317							$	(12,542	)																										$	1,175,775
Other Assets		$	744,207							$	(362,307	)																										$	381,900
Property and equipment, net		$	9,558,936			$	(2,597,185	)										$	(987,901	)																		$	5,973,850
Inventory –net of allowance for inventory obsolescence		$	6,793,806											$	(1,847,349	)																						$	4,946,457
Goodwill		$	4,370,894							$	2,851,998																											$	7,222,892
Accounts payable		$	2,857,817							$	1,953,400																											$	4,811,217
Accrued expenses		$	2,392,487							$	(285,460	)																										$	2,107,027
Deferred revenue		$	1,651,784							$	(153,958	)																										$	1,497,826
Other long-term liabilities		$	1,063,733							$	(295,138	)																										$	768,595
Series 1 preferred stock dividends payable		$	1,081,690																											$	(1,081,690	)						$	-
Additional paid-in capital		$	63,313,336																											$	(3,091,570	)						$	60,221,766
Retained earnings (accumulated deficit)		$	(33,172,690	)																		$	1,999,363			$	(7,100,000	)		$	4,173,260							$	$(34,100,067)
Accumulated other comprehensive income		$	853,643																															$	958,814			$	1,812,457

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss)

 SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

						For the year ended
		September 30, 2020
		Previously reported				Adjustments				Adjusted
Net loss available to Cemtrex, Inc. shareholders		$	(13,105,005	)		$	2,634,924			$	(10,470,081	)
Cost of revenues		$	24,153,937			$	1,743,244			$	25,897,181
General and administrative		$	21,570,666			$	(1,206,938	)		$	20,363,728
Preferred dividends		$	3,171,230			$	(3,171,230	)		$	-
Loss Per Share-Basic		$	(1.28	)		$	0.27			$	(1.01	)
Loss Per Share-Diluted		$	(1.28	)		$	0.27			$	(1.01	)

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY

Condensed Consolidated Statement of Stockholders’ Equity

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY 

						For the year ended
						September 30, 2020
		Previously reported				Adjustments				Adjusted
Retained earnings (accumulated deficit) at September 30, 2019		$	(20,067,685	)		$	(3,562,301	)		$	(23,629,986	)
Dividends pad in series preferred shares		$	(2,089,540	)		$	2,089,540			$	-
Accrued dividends		$	(1,081,690	)		$	1,081,690			$	-
Net income/(loss)		$	(9,706,659	)		$	(763,422	)		$	(10,470,081	)
Retained earnings (accumulated deficit) at September 30, 2020		$	(33,172,690	)		$	(927,377	)		$	(34,100,067	)
Accumulated other comprehensive income/(loss)at September 30, 2019		$	796,004			$	958,814			$	1,754,818
Foreign currency translation gain		$	22,294			$	35,345			$	57,639
Income in noncontrolling interest		$	35,345			$	(35,345	)		$	-
Accumulated other comprehensive income/(loss) at September 30, 2020		$	853,643			$	958,814			$	1,812,457
Additional paid-in capital at September 30, 2019		$	40,344,837			$	(1,002,030	)		$	39,342,807
Additional paid-in capital at September 30, 2020		$	63,313,336			$	(3,091,570	)		$	60,221,766
Non-controlling interst of Vicon at September 30, 2019		$	885,874			$	(70,690	)		$	815,184
Income in noncontrolling interest		$	191,771			$	35,345			$	227,116
Non-controlling interst of Vicon at September 30, 2020		$	1,077,645			$	(35,345	)		$	1,042,300

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Condensed Consolidated Statements of Cash Flows

SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

						For the year ended
						September 30, 2020
		Previously reported				Adjustments				Adjusted
Net loss		$	(9,706,659	)		$	(536,306	)		$	(10,242,965	)
Depreciation and amortization		$	2,460,043			$	(594,317	)		$	1,865,726
Inventory		$	(1,586,651	)		$	1,743,244			$	156,593
Accrued expenses		$	(499,527	)		$	(174,265	)		$	(673,792	)
Net cash used by operating activities - continuing operations		$	(3,786,202	)		$	438,356			$	(3,347,846	)

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