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LINES OF CREDIT AND LONG-TERM LIABILITIES (Tables)
 9 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
SCHEDULE OF LINES OF CREDIT AND LIABILITIES

The following table outlines the Company’s secured liabilities:

 

         June 30,   September 30, 
   Interest Rate  Maturity  2024   2023 
Fulton Bank - $360,000 fund equipment for AIS. The Company was in compliance with loan covenants as of June 30, 2024. This loan is secured by certain assets of the Company.  SOFR plus 2.37% (7.7% as of June 30, 2024 and 7.68% as of September 30, 2023).  1/31/2025   49,042    108,700 
Fulton Bank - $360,000 fund equipment for AIS. The Company was in compliance with loan covenants as of June 30, 2024. This loan is secured by certain assets of the Company.  SOFR plus 2.37% (7.7% as of June 30, 2024 and 7.68% as of September 30, 2023).  1/31/2025   49,042    108,700 
                 
Fulton Bank mortgage $2,476,000. The Company was in compliance with loan covenants as of June 30, 2024. This loan is secured by the underlying asset.  SOFR plus 2.62% (7.95% on June 30, 2024 and (7.93% on September 30, 2023).  1/28/2040   2,130,074    2,180,115 
                 
Fulton Bank (HEISEY) - $1,200,000 mortgage loan; requires monthly principal and interest payments through August 1, 2043 with a final payment of remaining principal on September 1, 2043; The loan is collateralized by 615 Florence Street and 740 Barber Street and guaranteed by AIS and Cemtrex.  SOFR plus 2.80% per annum (8.13% as of June 30, 2024 and 8.11% as of September 30, 2023).  9/30/2043   1,164,271    1,200,000 
                 
Fulton Bank (HEISEY) - $2,160,000. promissory note related to purchase of Heisey; requires 84 monthly principal and interest payments; The note is collateralized by the Heisey assets and guaranteed by the Parent; matures in 2030.  SOFR plus 2.80% per annum (8.13% as of June 30, 2024 and 8.11% as of September 30, 2023).  7/1/2030   1,961,494    2,122,565 
                 
Note payable - $5,755,000 - Less original issue discount $750,000 and legal fees $5,000, net cash received $5,000,000 Unamortized original issue discount balance of $0, as of June 30, 2024 and September 30, 2023.  8%  6/30/2025   239,813    4,596,589 
                 
Note payable - $9,205,000. Less original issue discount $1,200,000 and legal fees $5,000,net cash received $8,000,000. 28,572 shares of common stock valued at $700,400 recognized as additional original issue discount. Unamortized original issue discount balance of $0 as of June 30, 2024 and September 30, 2023.  8%  2/22/2026   11,949,012    11,243,233 
                 
Note Payable - $240,000 For the purchase of Heisey Mechanical, Ltd.  6%  7/1/2024   -    240,000 
                 
Term Loan Agreement with NIL Funding Corporation (“NIL”) - $5,600,000 The Company was in compliance with loan covenants as of September 30, 2023.  11.50%  12/31/2024   -    1,979,743 
                 
Paycheck Protection Program loan - $121,400 - The issuing bank determined that this loan qualifies for loan forgiveness; however the Company is awaiting final approval from the Small Business Administration.  1%  5/5/2025   60,749    91,114 
                 
Software License Agreement - $1,125,000, for the purchase of software source code for use in our Security segment products  N/A  6/3/2024   -    675,000 
                 
HDFC Bank Auto Loan - $28,331, for the purchase of automobile at India office. Monthly payments of ₹65,179 ($781.93 as translated as of June 30, 2024). Automobile is collateral for this loan. This loan was paid off prior to the maturity date.  8.70%  6/5/2027   -    - 
Total debt        $17,554,455   $24,437,059 
Less: Current maturities         (661,271)   (14,507,711)
Long-term debt        $16,893,184   $9,929,348