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DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
SUMMARY OF LOSS ON SALE | The following table summarizes the loss on the sale recorded during the three months ended December 31, 2022, included in Income/(loss) from discontinued operations, net of tax in the accompanying condensed consolidated statement of Operations: SUMMARY OF LOSS ON SALE
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.Companies |  | $ | (2,455,341 | )
SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS | SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS
|  | 2023 |  |  | 2022 |
|  | For the three months ended December 31, |
|  | 2023 |  |  | 2022 |
Total net sales |  | $ | - |  |  | $ | 649,061 |
Cost of sales |  |  | - |  |  |  | 228,086 |
Operating, selling, general and administrative expenses |  |  | - |  |  |  | 1,295,572 |
Other (income)/expenses |  |  | - |  |  |  | 3,195 |
Income (loss) from discontinued operations |  |  | - |  |  |  | (877,792 | )
Amortization of discounted royalties |  |  | 13,282 |  |  |  | 4,427 |
Loss on sale of discontinued operations |  |  | - |  |  |  | (2,455,341 | )
Adjustment of benefit obligation |  |  | - |  |  |  | 89,085 |
Income tax provision |  |  | 2,790 |  |  |  | - |
Discontinued operations, net of tax |  | $ | 10,492 |  |  | $ | (3,239,621 | )

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