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LINES OF CREDIT AND LONG-TERM LIABILITIES (Tables) | 12 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
SCHEDULE OF LINES OF CREDIT AND LONG TERM LIABILITIES | SCHEDULE OF LINES OF CREDIT AND LONG TERM LIABILITIES
|  |  |  |  |  |  | September 30, |  |  | September 30, |
|  | Interest Rate |  | Maturity |  |  | 2024 |  |  | 2023 |
Fulton Bank - $360,000 fund equipment for AIS. The Company was in compliance with loan covenants as of September 30, 2024. This loan is secured by certain assets of the Company. |  | SOFR plus 2.37% (7.33% as of September 30, 2024 and 7.68% as of September 30, 2023). |  |  | 1/31/2025 |  |  |  | 28,302 |  |  |  | 108,700 |
Fulton Bank - $360,000 fund equipment for AIS. The Company was in compliance with loan covenants as of September 30, 2024. This loan is secured by certain assets of the Company. |  | SOFR plus 2.37% (7.33% as of September 30, 2024 and 7.68% as of September 30, 2023). |  |  | 1/31/2025 |  |  |  | 28,302 |  |  |  | 108,700 |
Fulton Bank - $312,000 fund equipment for AIS. The Company was in compliance with loan covenants as of September 30, 2024. This loan is secured by certain assets of the Company. |  | SOFR plus 2.37% (7.33% as of September 30, 2024 and 7.68% as of September 30, 2023). |  |  | 9/30/2029 |  |  |  | 312,000 |  |  |  | - |
Fulton Bank mortgage $2,476,000. The Company was in compliance with loan covenants as of September 30, 2024. This loan is secured by the underlying asset. |  | SOFR plus 2.62% (7.58% on September 30, 2024 and (7.93% on September 30, 2023). |  |  | 1/28/2040 |  |  |  | 2,113,337 |  |  |  | 2,180,115 |
Fulton Bank (HEISEY) - $1,200,000 mortgage loan; requires monthly principal and interest payments through August 1, 2043 with a final payment of remaining principal on September 1, 2043; The loan is collateralized by 615 Florence Street and 740 Barber Street and guaranteed by AIS and Cemtrex. |  | SOFR plus 2.80% per annum (7.76% as of September 30, 2024 and 8.11% as of September 30, 2023). |  |  | 9/30/2043 |  |  |  | 1,176,112 |  |  |  | 1,200,000 |
Fulton Bank (HEISEY) - $2,160,000. promissory note related to purchase of Heisey; requires 84 monthly principal and interest payments; The note is collateralized by the Heisey assets and guaranteed by the Parent; matures in 2030. |  | SOFR plus 2.80% per annum (7.76% as of September 30, 2024 and 8.11% as of September 30, 2023). |  |  | 7/1/2030 |  |  |  | 1,881,621 |  |  |  | 2,122,565 |
Note payable - $5,755,000 - Less original issue discount $750,000 and legal fees $5,000, net cash received $5,000,000 Unamortized original issue discount balance of $0, as of September 30, 2024 and September 30, 2023. |  | 8% |  |  | 6/30/2025 |  |  |  | 244,766 |  |  |  | 4,596,589 |
Note payable - $9,205,000. Less original issue discount $1,200,000 and legal fees $5,000,net cash received $8,000,000. 28,572 shares of common stock valued at $700,400 recognized as additional original issue discount. Unamortized original issue discount balance of $0 as of September 30, 2024 and September 30, 2023. |  | 8% |  |  | 2/22/2026 |  |  |  | 12,195,789 |  |  |  | 11,243,233 |
Note Payable - $240,000 For the purchase of Heisey Mechanical, Ltd. |  | 6% |  |  | 7/1/2024 |  |  |  | - |  |  |  | 240,000 |
Term Loan Agreement with NIL Funding Corporation (“NIL”) - $5,600,000 The Company was in compliance with loan covenants as of September 30, 2023. |  | 11.50% |  |  | 12/31/2024 |  |  |  | - |  |  |  | 1,979,743 |
Paycheck Protection Program loan - $121,400 - The issuing bank determined that this loan qualifies for loan forgiveness; however the Company is awaiting final approval from the Small Business Administration. |  | 1% |  |  | 5/5/2025 |  |  |  | 50,628 |  |  |  | 91,114 |
Software License Agreement - $1,125,000, for the purchase of software source code for use in our Security segment products |  | N/A |  |  | 6/3/2024 |  |  |  | - |  |  |  | 675,000 |
Total debt |  |  |  |  |  |  |  | $ | 18,002,555 |  |  | $ | 24,437,059 |
Less: Current maturities |  |  |  |  |  |  |  |  | (4,732,377 | ) |  |  | (14,507,711 | )
Long-term debt |  |  |  |  |  |  |  | $ | 13,270,178 |  |  | $ | 9,929,348 |
SCHEDULE OF ESTIMATED MATURITIES OF LONG TERM DEBT | Estimated maturities of the Company’s long-term debt over the next 5 years are as follows. SCHEDULE OF ESTIMATED MATURITIES OF LONG TERM DEBT
|  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | Thereafter |  |  | Total |
Fulton Bank - $360,000 |  |  | 28,302 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | 28,302 |
Fulton Bank - $360,000 |  |  | 28,302 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | 28,302 |
Fulton Bank - $312,000 |  |  | 53,671 |  |  |  | 57,643 |  |  |  | 62,210 |  |  |  | 67,114 |  |  |  | 71,362 |  |  |  | - |  |  | $ | 312,000 |
Fulton Bank - $2.16 Mil |  |  | 264,301 |  |  |  | 262,135 |  |  |  | 284,544 |  |  |  | 308,869 |  |  |  | 335,063 |  |  |  | 426,709 |  |  | $ | 1,881,621 |
Fulton Bank - Mortgage #1 |  |  | 72,410 |  |  |  | 73,009 |  |  |  | 85,701 |  |  |  | 92,430 |  |  |  | 100,563 |  |  |  | 1,689,224 |  |  | $ | 2,113,337 |
Fulton Bank - Mortgage #2 |  |  | 28,417 |  |  |  | 26,792 |  |  |  | 29,087 |  |  |  | 31,578 |  |  |  | 34,030 |  |  |  | 1,026,208 |  |  | $ | 1,176,112 |
PPP Loans |  |  | 40,511 |  |  |  | 10,117 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | 50,628 |
Notes Payable |  |  | 4,244,765 |  |  |  | 8,195,790 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  | $ | 12,440,555 |
TOTAL |  | $ | 4,732,377 |  |  | $ | 8,625,486 |  |  | $ | 461,542 |  |  | $ | 499,991 |  |  | $ | 541,018 |  |  | $ | 3,142,141 |  |  | $ | 18,002,555 |

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