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DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
SUMMARY OF LOSS ON SALE

The following table summarizes the loss on the sale recorded during fiscal year 2023, included in Income/(loss) from discontinued operations, net of tax in the accompanying Consolidated Statement of Operations.

    

      
Purchase Price  $745,621 
Less cash and cash equivalents transferred   (699,423)
Less liabilities assumed   (10,924)
Net purchase price  $35,274 
      
Assets Sold     
Accounts receivable, net  $625,638 
Inventory, net   980,730 
Prepaid expenses and other assets   502,577 
Property and equipment, net   837,808 
Goodwill   598,392 
Total Assets Sold   3,545,145 
Liabilities Transferred     
Accounts payable   370,774 
Short-term liabilities   364,775 
Long-term liabilities   318,981 
Total Liabilities Transferred   1,054,530 
Net assets sold  $2,490,615 
      
Pretax loss on sale of Cemtrex Advanced Technologies, Inc, and Cemtrex XR, Inc.  $(2,455,341)
SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS

 

   2024   2023 
   Year ended September 30, 
   2024   2023 
         
Total net sales  $-   $649,061 
Cost of sales   -    57,429 
Operating, selling, general and administrative expenses   681    1,104,506 
Other (income)/expenses   -    3,195 
Income (loss) from discontinued operations   (681)   (516,069)
Amortization of discounted royalties   53,126    44,272 
Loss on sale of discontinued operations   -    (2,455,341)
Adjustment of benefit obligation   -    89,085 
Income tax provision   9,321    - 
Discontinued operations, net of tax  $43,124   $(2,838,053)