XML 47 R35.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

DISCONTINUED OPERATIONS (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2024
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
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | Three months ended March 31, |  |  | Six months ended March 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Total net sales |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 649,061 |
Cost of sales |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 228,086 |
Operating, selling, general and administrative expenses |  |  | 39 |  |  |  | 492 |  |  |  | 39 |  |  |  | 1,296,064 |
Other (income)/expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,195 |
Income (loss) from discontinued operations |  |  | (39 | ) |  |  | (492 | ) |  |  | (39 | ) |  |  | (878,284 | )
Amortization of discounted royalties |  |  | 13,282 |  |  |  | 14,724 |  |  |  | 26,564 |  |  |  | 19,151 |
Loss on sale of discontinued operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (2,455,341 | )
Adjustment of benefit obligation |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 89,085 |
Income tax provision |  |  | 2,780 |  |  |  | - |  |  |  | 5,570 |  |  |  | - |
Discontinued operations, net of tax |  | $ | 10,463 |  |  | $ | 14,232 |  |  | $ | 20,955 |  |  | $ | (3,225,389 | )

X
- Definition Tabular disclosure of loss on sale. + References No definition available. + Details
Name: | CETX_ScheduleOfLossOnSaleTableTextBlock
Namespace Prefix: | CETX_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration