XML 35 R20.htm IDEA: XBRL DOCUMENT v3.24.4
OTHER ASSETS
 12 Months Ended
Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS

NOTE 11 - OTHER ASSETS

 

On November 13, 2020, and January 19, 2022, Cemtrex made $500,000 investments, on July 18, 2023, and October 5, 2023, made additional $100,000 investments, and on October 17, 2024, and November 18, 2024, made additional $50,000 investments on each respective date, via a simple agreement for future equity (“SAFE”) in MasterpieceVR. The SAFE provides that the Company will automatically receive shares of the entity based on the conversion rate of future equity rounds up to a valuation cap, as defined. MasterpieceVR is a software company that is developing software for content creation using virtual reality. The investment is included in other assets in the accompanying consolidated balance sheet and the Company accounts for this investment and recorded at cost. No impairment has been recorded for the years ended September 30, 2024 and 2023.

 

Other assts consists of the following.

 

   September 30, 2024   September 30, 2023 
Rental deposits  $194,796   $198,641 
Investment in Masterpiece VR   1,200,000    1,100,000 
Other deposits   350,845    167,808 
Demonstration equipment supplied to resellers   441,624    369,560 
Other assets total  $2,187,265   $1,836,009