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DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
SUMMARY OF LOSS ON SALE INCLUDED IN INCOME/(LOSS) FROM DISCONTINUED OPERATIONS

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:

 

      
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   2024   2023 
   Three months ended June 30,   Nine months ended June 30, 
   2024   2023   2024   2023 
                 
Total net sales  $-   $-   $-   $649,061 
Cost of sales   -    -    -    228,086 
Operating, selling, general and administrative expenses   643    1,443    681    1,297,507 
Other (income)/expenses   -    -    -    3,195 
Income (loss) from discontinued operations   (643)   (1,443)   (681)   (879,727)
Amortization of discounted royalties   13,282    14,724    39,845    33,875 
Loss on sale of discontinued operations   -    -    -    (2,455,341)
Adjustment of benefit obligation   -    -    -    89,085 
Income tax provision   2,655    -    8,225    - 
Discontinued operations, net of tax  $9,984   $13,281   $30,939   $(3,212,108)