Cemtrex (CETX) 10-Q 14 May 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2020	May 11, 2020
Document And Entity Information
Entity Registrant Name	CEMTREX INC
Entity Central Index Key	0001435064
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,807,410
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Current assets
Cash and equivalents	$ 2,809,591	$ 1,769,994
Restricted cash	1,254,353	1,088,091
Short-term investments	14,439	412,730
Accounts receivables, net	6,527,413	6,458,984
Accounts receivables - related party	227,109	227,019
Notes receivable - short-term	1,713,371	1,713,371
Inventory -net of allowance for inventory obsolescence	5,646,435	5,207,155
Prepaid expenses and other assets	1,979,774	2,000,265
Total current assets	20,172,485	18,877,609
Property and equipment, net	19,688,546	16,776,552
Right-of-use assets	1,023,234
Goodwill	4,370,894	4,370,894
Notes receivable - long-term	1,586,918	1,586,918
Deferred tax asset	2,098,711	2,282,867
Other	1,332,418	497,857
Total Assets	50,273,206	44,392,697
Current liabilities
Accounts payable	3,183,746	4,236,945
Short-term liabilities	5,160,060	6,817,534
Lease liabilities - short-term	317,004	22,718
Deposits from customers	42,240	33,074
Accrued expenses	2,589,424	2,673,646
Deferred revenue	1,717,590	1,433,803
Accrued income taxes	337,848	419,541
Total current liabilities	13,347,912	15,637,261
Long-term liabilities
Loans payable to bank, net of current portion	2,086,158	2,240,526
Long-term lease liabilities, net of current portion	737,629	20,061
Notes payable, net of current portion	5,086,255	2,817,661
Mortgage payable, net of current portion	2,380,781
Other long-term liabilities	1,131,428	1,221,549
Series 1 preferred stock dividends payable	1,026,900
Deferred Revenue - long-term	432,920	489,535
Total long-term liabilities	12,882,071	6,789,332
Total liabilities	26,229,983	22,426,593
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value, 20,000,000 shares authorized, 7,939,628 shares issued and outstanding at March 31, 2020 and 3,962,790 shares issued and outstanding at September 30, 2019	7,940	3,963
Additional paid-in capital	46,895,763	40,344,837
Accumulated deficit	(24,357,704)	(20,067,685)
Treasury stock at cost	(190,483)
Accumulated other comprehensive income (loss)	638,627	796,004
Cemtrex stockholders' equity	22,997,460	21,080,230
Non-controlling interest	1,045,763	885,874
Total liabilities and stockholders' equity	50,273,206	44,392,697
Series 1 Preferred Stock [Member]
Stockholders' equity
Preferred stock value	2,217	2,111
Series A Preferred Stock [Member]
Stockholders' equity
Preferred stock value	1,000	1,000
Preferred Stock Series C [Member]
Stockholders' equity
Preferred stock value	100
Cemtrex stockholders' equity	$ 100

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Sep. 30, 2019
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	3,316,683	3,110,718
Preferred stock, shares outstanding	3,316,683	3,110,718
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	7,939,628	3,962,790
Common stock, shares outstanding	7,939,628	3,962,790
Series 1 Preferred Stock [Member]
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	2,216,683	2,110,718
Preferred stock, shares outstanding	2,216,683	2,110,718
Preferred stock, liquidation value	$ 10	$ 10
Series A Preferred Stock [Member]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Preferred Stock Series C [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	100,000	100,000
Preferred stock, shares outstanding	100,000	100,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenues	$ 12,113,847	$ 11,725,407	$ 24,333,930	$ 17,442,996
Cost of revenues	6,767,743	6,918,609	13,639,340	10,448,612
Gross profit	5,346,104	4,806,798	10,694,590	6,994,384
Operating expenses
General and administrative	5,728,274	7,084,194	10,581,231	10,308,626
Research and development	404,933	471,611	781,519	851,128
Total operating expenses	6,133,207	7,555,805	11,362,750	11,159,754
Operating loss	(787,103)	(2,749,007)	(668,160)	(4,165,370)
Other income (expense)
Other Income (expense)	447,792	5,990	672,117	(4,570)
Loss on equity interests				(342,776)
Interest expense	(1,348,298)	(516,746)	(1,830,820)	(632,012)
Total other expense, net	(900,506)	(510,756)	(1,158,703)	(979,358)
Net loss before income taxes	(1,687,609)	(3,259,763)	(1,826,863)	(5,144,728)
Income tax benefit/(expense)	(189,543)	1,173,461	(189,543)	1,173,509
Loss from continuing operations	(1,877,152)	(2,086,302)	(2,016,406)	(3,971,219)
Loss from discontinued operations, net of tax		(253,720)		(545,103)
Net loss	(1,877,152)	(2,340,022)	(2,016,406)	(4,516,322)
Less noncontrolling interest	(7,848)	(356,155)	187,063	(356,155)
Net loss	(1,869,304)	(1,983,867)	(2,203,469)	(4,160,167)
Preferred dividends	1,026,900		2,086,550	957,780
Net loss available to Cemtrex, Inc. shareholders	(2,896,204)	(1,983,867)	(4,290,019)	(5,117,947)
Other comprehensive loss
Foreign currency translation loss	(740,403)	(171,208)	(157,377)	(1,028,760)
Other comprehensive income attribitable to noncontrolling interest	(8,745)		(27,174)
Comprehensive loss	(749,148)	(171,208)	(184,551)	(1,028,760)
Comprehensive loss	$ (3,645,352)	$ (2,155,075)	$ (4,474,570)	$ (6,146,707)
Loss Per Share-Basic
Continuing Operations	$ (0.46)	$ (1.12)	$ (0.81)	$ (2.68)
Discontinued Operations		(0.14)		(0.32)
Loss Per Share-Diluted
Continuing Operations	(0.46)	(1.12)	(0.81)	(2.68)
Discontinued Operations		$ (0.14)		$ (0.32)
Weighted Average Number of Shares-Basic	6,250,761	1,774,636	5,292,167	1,705,770
Weighted Average Number of Shares-Diluted	6,250,761	1,774,636	5,292,167	1,705,770

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Series 1 Preferred Stock [Member]	Series A Preferred Stock [Member]	Preferred Stock Series C [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Treasury Stock At Cost [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total	Non-Controlling Interest [Member]
Balance at Sep. 30, 2018	$ 1,914	$ 1,000		$ 1,622	$ 31,496,671	$ 4,262,756		$ (483,297)	$ 42,344,777
Balance, shares at Sep. 30, 2018	1,914,168	1,000,000		1,621,719
Foreign currency translations								(857,552)	(857,552)
Share-based compensation					36,108				36,108
Stock issued in Subscription Rights Offering				$ 25	138,669				138,694
Stock issued in Subscription Rights Offering, shares				25,126
Stock issued to pay notes payable				$ 26	224,974				225,000
Stock issued to pay notes payable, shares				26,342
Dividends paid in Series 1 preferred shares	$ 96				957,684	(957,780)
Dividends paid in Series 1 preferred shares, shares	95,778
Net loss						(2,176,298)			(2,176,298)
Balance at Dec. 31, 2018	$ 2,010	$ 1,000		$ 1,673	32,854,106	1,128,678		(1,340,849)	32,646,618
Balance, shares at Dec. 31, 2018	2,009,946	1,000,000		1,673,187
Balance at Sep. 30, 2018	$ 1,914	$ 1,000		$ 1,622	31,496,671	4,262,756		(483,297)	42,344,777
Balance, shares at Sep. 30, 2018	1,914,168	1,000,000		1,621,719
Comprehensive income									(1,028,760)
Net loss									(4,160,167)
Balance at Mar. 31, 2019	$ 2,010	$ 1,000		$ 1,857	33,937,110	(855,189)		(1,512,057)	31,574,731
Balance, shares at Mar. 31, 2019	2,009,946	1,000,000		1,855,959
Balance at Dec. 31, 2018	$ 2,010	$ 1,000		$ 1,673	32,854,106	1,128,678		(1,340,849)	32,646,618
Balance, shares at Dec. 31, 2018	2,009,946	1,000,000		1,673,187
Foreign currency translations								(171,208)	(171,208)
Share-based compensation					36,108				36,108
Stock issued to pay notes payable				$ 118	713,772				713,890
Stock issued to pay notes payable, shares				117,772
Shares issued in trust for ATM Offering				$ 63	(63)
Shares issued in trust for ATM Offering, shares				62,500
Shares sold in ATM Offering					203,679				203,679
Shares sold in ATM Offering, shares
Shares sold in Securities Purchase Agreements				$ 3	129,508				129,511
Shares sold in Securities Purchase Agreements, shares				2,500
Comprehensive income									(171,208)
Net loss						(1,983,867)			(1,983,867)
Balance at Mar. 31, 2019	$ 2,010	$ 1,000		$ 1,857	33,937,110	(855,189)		(1,512,057)	31,574,731
Balance, shares at Mar. 31, 2019	2,009,946	1,000,000		1,855,959
Balance at Sep. 30, 2019	$ 2,111	$ 1,000		$ 3,963	40,344,837	(20,067,685)		796,004	21,080,230	885,874
Balance, shares at Sep. 30, 2019	2,110,718	1,000,000		3,962,790
Share-based compensation			$ 100		119,004				119,104
Share-based compensation, shares			1,000,000
Stock issued to pay notes payable				$ 105	130,147				130,252
Stock issued to pay notes payable, shares				105,042
Dividends paid in Series 1 preferred shares	$ 106				1,059,544	(1,059,650)
Dividends paid in Series 1 preferred shares, shares	105,965
Shares sold in Securities Purchase Agreements				$ 338	359,712				360,050
Shares sold in Securities Purchase Agreements, shares				338,393
Comprehensive income								564,597	564,597
Shares issued to pay accounts payable				$ 18	27,565				27,583
Shares issued to pay accounts payable, shares				18,358
Noncontrolling interest								18,429	18,429	176,482
Net loss						(334,165)			(334,165)
Balance at Dec. 31, 2019	$ 2,217	$ 1,000	$ 100	$ 4,424	42,040,809	(21,461,500)		1,379,030	21,966,080	1,062,356
Balance, shares at Dec. 31, 2019	2,216,683	1,000,000	1,000,000	4,424,583
Balance at Sep. 30, 2019	$ 2,111	$ 1,000		$ 3,963	40,344,837	(20,067,685)		796,004	21,080,230	885,874
Balance, shares at Sep. 30, 2019	2,110,718	1,000,000		3,962,790
Comprehensive income									(184,551)
Net loss									(2,203,469)
Balance at Mar. 31, 2020	$ 2,217	$ 1,000	$ 100	$ 7,940	46,895,763	(24,357,704)	(190,483)	638,627	22,997,460	1,045,763
Balance, shares at Mar. 31, 2020	2,216,683	1,000,000	100,000	7,939,628
Balance at Dec. 31, 2019	$ 2,217	$ 1,000	$ 100	$ 4,424	42,040,809	(21,461,500)		1,379,030	21,966,080	1,062,356
Balance, shares at Dec. 31, 2019	2,216,683	1,000,000	1,000,000	4,424,583
Share-based compensation					24,104				24,104
Share-based compensation, shares
Stock issued to pay notes payable				$ 2,519	3,499,747				3,502,266
Stock issued to pay notes payable, shares				2,518,045
Shares sold in Securities Purchase Agreements				$ 847	1,160,253				1,161,100
Shares sold in Securities Purchase Agreements, shares				847,000
Comprehensive income								(749,148)	(749,148)
Noncontrolling interest								8,745	8,745	(16,593)
Accrued dividends						(1,026,900)			(1,026,900)
Shares issued for services				$ 150	170,850				171,000
Shares issued for services, shares				150,000
Purchase of treasury stock							(190,483)		(190,483)
Net loss						(1,869,304)			(1,869,304)
Balance at Mar. 31, 2020	$ 2,217	$ 1,000	$ 100	$ 7,940	$ 46,895,763	$ (24,357,704)	$ (190,483)	$ 638,627	$ 22,997,460	$ 1,045,763
Balance, shares at Mar. 31, 2020	2,216,683	1,000,000	100,000	7,939,628

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities
Net loss	$ (2,016,406)	$ (4,516,322)
Net loss from discontinued operations		(545,103)
Net loss from continuing operations	(2,016,406)	(3,971,219)
Adjustments to reconcile net loss to net cash provided/(used) by operating activities:
Depreciation and amortization	1,427,718	2,470,169
Gain/(loss) on disposal of property & equipment	311
Amortization of right-of-use assets	281,758
Change in allowance for inventory obsolescence	(19,569)
Change in allowance for doubtful accounts	(6,416)
Share-based compensation	143,208	72,216
Interest expense paid in equity shares	1,004,518	163,890
Income tax benefit
Consolidation of equity interest		1,356,495
Loss on equity interests		342,776
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:
Accounts receivable	(62,013)	1,855,606
Accounts receivable - related party	(90)	215,220
Inventory	(419,711)	(1,393,477)
Prepaid expenses and other curent asstets	20,491	(585,445)
Other assets	(834,561)	(1,186,589)
Other liabilities	(90,121)	9,343
Accounts payable	(854,616)	793,113
Deposits from customers	9,166	93,047
Accrued expenses	171,505	509,276
Deferred revenue	227,172	(287,021)
Income taxes payable	102,463	(165,794)
Net cash provided/(used) by operating activities - continuing operations	(915,193)	291,606
Net cash provided by operating activities - discontinued operations		2,391,479
Net cash provided/(used) by operating activities	(915,193)	2,683,085
Cash Flows from Investing Activities
Net change in self-insured benefit deposits	166,262	(113,510)
Purchase of property and equipment	(4,340,023)	(746,056)
Proceeds from sale of marketable securities	398,291
Purchases of treasury stock	(190,483)
Net cash used by investing activities - continuing operations	(3,965,953)	(859,566)
Net cash used by investing activities - discontinued operations		(119,482)
Net cash used by investing activities	(3,965,953)	(979,048)
Cash Flows from Financing Activities
Proceeds from notes payable	2,990,000
Payments on notes payable	(676,640)	(214,560)
Proceeds on bank loans	2,476,000
Payments on bank loans	(133,414)	(615,858)
Proceeds from securities purchase agreements	1,580,100
Expenses on securities purchase agreements	(58,950)
Proceeds from at-the-market offerings		360,695
Expenses on at-the-market offerings		(18,323)
Proceeds from the issuance of Series B Preferred Stock		500,000
Expenses from the issuance of Series B Preferred Stock		(25,000)
Revolving line of credit	387,598	1,387,344
Payments on lease liabilities	(293,138)	(11,246)
Net cash provided by financing activities - continuing operations	6,271,556	1,363,052
Net cash used by financing activities - discontinued operations		(1,417,926)
Net cash provided/(used) by financing activities	6,271,556	(54,874)
Effect of currency translation	(184,551)	(1,028,760)
Net increase in cash, cash equivalents, and restricted cash	1,390,410	1,649,163
Cash, cash equivalents, and restricted cash at beginning of period	2,858,085	2,315,935
Cash, cash equivalents, and restricted cash at end of period	4,063,944	2,936,338
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash
Cash and equivalents	2,809,591	1,707,685
Restricted cash	1,254,353	1,228,653
Total cash, cash equivalents, and restricted cash	4,063,944	2,936,338
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	342,268	611,444
Cash paid during the period for income taxes	188	31,951
Supplemental Schedule of Non-Cash Investing and Financing Activities
Stock issued to pay for products and/or services	198,583
Stock issued to pay notes payable	3,632,518	775,000
Dividends paid in equity shares	1,059,650	957,780
Amortization of original issue discounts on notes payable	$ 317,667

Organization and Plan of Operat

Organization and Plan of Operations	6 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Plan of Operations	NOTE 1 – ORGANIZATION AND PLAN OF OPERATIONS Cemtrex was incorporated in 1998, in the state of Delaware and has evolved through strategic acquisitions and internal research & development from a small environmental monitoring instruments company into a world leading multi-industry technology company. The Company now specializes in the development of Internet of Things (IoT), Artificial Intelligence (AI) and Virtual Reality (VR) enabled technologies that drive innovation in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. Unless the context requires otherwise, all references to “we”, “our”, “us”, “Company”, “registrant”, “Cemtrex” or “management” refer to Cemtrex, Inc. and its subsidiaries. The Company continuously assesses the composition of its portfolio businesses to ensure it is aligned with its strategic objectives and positioned to maximize growth and return in the coming years. During fiscal 2019, the Company made a strategic decision to exit its Electronics Manufacturing group by selling all companies in that business segment on August 15, 2019. During fiscal 2019, the Company also reached a strategic decision to exit its original environmental products business and sold those operations. Now the Company has two business segments, consisting of (i) Advanced Technologies (AT) and (ii) Industrial Services (IS) Advanced Technologies (AT) Cemtrex’s Advanced Technologies segment delivers cutting-edge technologies in the Internet of Things (IoT), Wearables and Smart Devices, such as the SmartDesk. Through the Company’s advanced engineering and product design, Company delivers Virtual Reality (VR) and Augmented Reality (AR) products that provide higher productivity, progressive design and impactful experiences for consumer products, digital applications and industrial manufacturing. The AT business segment also includes the Company’s majority owned subsidiary, Vicon Industries, which provides end-to-end security solutions to meet the toughest corporate, industrial and governmental security challenges. Vicon’s products include browser-based Video monitoring systems and facial recognition systems, cameras, servers, and access control systems for every aspect of security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices. Vicon provides cutting edge, mission critical security and video surveillance solutions utilizing Artificial Intelligence (AI). Industrial Services (IS) Cemtrex’s IS segment, offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. We install high precision equipment in a wide variety of industrial markets like automotive, printing & graphics, industrial automation, packaging, and chemicals among others. We are a leading provider of reliability-driven maintenance and contracting solutions for the machinery, packaging, printing, chemical, and other manufacturing markets. The focus is on customers seeking to achieve greater asset utilization and reliability to cut costs and increase production from existing assets, including small projects, sustaining capital, turnarounds, maintenance, specialty welding services, and high-quality scaffolding.

Interim Statement Presentation

Interim Statement Presentation	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Interim Statement Presentation	NOTE 2 – INTERIM STATEMENT PRESENTATION Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended September 30, 2019 of Cemtrex Inc. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the Unites States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X pursuant to the requirements of the U.S. Securities and Exchange Commission (‘SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements, the disclosure of contingent assets and liabilities in the condensed consolidated financial statements and the accompanying notes, and the reported amounts of revenues, expenses and cash flows during the periods presented. Actual amounts and results could differ from those estimates. The estimates and assumptions the Company makes are based on historical factors, current circumstances and the experience and judgment of the Company’s management. The Company evaluates its estimates and assumptions on an ongoing basis. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, Cemtrex Advanced Technologies Inc., Cemtrex Ltd., Cemtrex Technologies Pvt. Ltd., and Advanced Industrial Services, Inc. and the Company’s majority-owned subsidiary Vicon Industries, Inc. and its subsidiaries, Telesite USA, IQInVision, Vicon Industries Ltd., Vicon Deutschland GmbH, and Vicon Systems, Ltd. All inter-company balances and transactions have been eliminated in consolidation. Significant Accounting Policies and Recent Accounting Pronouncements Significant Accounting Policies Note 2 of the Notes to Consolidated Financial Statements, included in the annual report on Form 10-K for the year ended September 30, 2019, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements. Recently Adopted Accounting Pronouncements Adoption of ASU 2016-02 (Topic 842) On October 1, 2019, the Company adopted ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors may use the effective date method and elected certain practical expedients allowing the Company not to reassess: ● whether expired or existing contracts contain leases under the new definition of a lease; ● lease classification for expired or existing leases; and ● whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. Recently Issued Accounting Standards In August 2018, the FASB issued amended guidance, Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, to modify the disclosure requirements on fair value measurements based on the concepts in the FASB Concepts Statements, including the consideration of costs and benefits. The new standard is effective for the Company from October 1, 2020. The Company believes adoption will not have a material effect on the Company’s financial position. In December 2019, the FASB issued amended guidance, Simplifying the Accounting for Income Taxes, to remove certain exceptions to the general principles from ASC 740 - Income Taxes , Reclassifications Certain reclassifications have been made to prior period amounts to conform to the current period presentation.

Loss Per Common Share

Loss Per Common Share	6 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Loss Per Common Share	NOTE 3 – LOSS PER COMMON SHARE Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. For the three months ended For the six months ended March 31, March 31, 2020 2019 2020 2019 Basic weighted average shares outstanding 6,250,761 1,774,636 5,292,167 1,705,770 Dilutive effect of options - - - - Dilutive effect of convertible debt - - - - Diluted weighted average shares outstanding 6,250,761 1,774,636 5,292,167 1,705,770 For the three and six months ended March 31, 2020 and 2019, 1,483,965 and 538,076 shares of common stock, respectively, were excluded from the computation of diluted earnings per share because the effect of their inclusion would be anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	NOTE 4 – SEGMENT INFORMATION The Company reports and evaluates financial information for two segments: Advanced Technologies (AT) segment, and the Industrial Services (IS) segment. The AT segment develops smart devices and provides progressive design and development solutions to create impactful experiences for mobile, web, virtual and augmented reality, wearables and television as well as providing cutting edge, mission critical security and video surveillance. The IS segment offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers in USA in industries such as: chemical, steel, printing, construction, & petrochemical. The following tables summarize the Company’s segment information: For the three months ended For the six months ended March 31, March 31, 2020 2019 2020 2019 Revenues from external customers Advanced Technologies 6,186,400 6,927,778 $ 13,411,633 $ 7,395,613 Industrial Services 5,927,447 4,797,629 10,922,297 10,047,383 Total revenues 12,113,847 11,725,407 $ 24,333,930 $ 17,442,996 Gross profit Advanced Technologies 3,331,799 3,028,005 6,874,586 $ 3,303,475 Industrial Services 2,014,305 1,778,793 3,820,004 3,690,909 Total gross profit 5,346,104 4,806,798 $ 10,694,590 $ 6,994,384 Operating (loss) income Advanced Technologies (901,017 ) (2,437,421 ) $ (640,025 ) $ (3,667,729 ) Industrial Services 113,914 (311,586 ) (28,135 ) (497,641 ) Total operating income/(loss) (787,103 ) (2,749,007 ) $ (668,160 ) $ (4,165,370 ) Other income (expense) Advanced Technologies (850,329 ) 18 $ (1,072,396 ) $ (391,564 ) Industrial Services (50,177 ) (510,774 ) (86,307 ) (587,794 ) Total other income (expense) (900,506 ) (510,756 ) $ (1,158,703 ) $ (979,358 ) Depreciation and Amortization Advanced Technologies 381,841 - $ 766,067 $ 536,194 Industrial Services 371,524 473,029 661,651 104,021 Total depreciation and amortization 753,365 473,029 $ 1,427,718 $ 640,215 The Company generates revenue from product sales and services from its subsidiaries located in the United States, The United Kingdom, and India. Revenue information for the Company is as follows: For the three months ended For the six months ended March 31, March 31, March 31, March 31, Revenues 2020 2019 2020 2019 U.S. Operations $ 11,972,359 $ 11,458,836 $ 24,123,410 $ 17,176,425 Non-U.S. Operations 141,488 266,571 210,520 266,571 $ 12,113,847 $ 11,725,407 $ 24,333,930 $ 17,442,996

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 5 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy is applied to prioritize the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under the guidance for fair value measurements are described below: Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Our Level 1 assets include cash equivalents, banker’s acceptances, trading securities investments and investment funds. We measure trading securities investments and investment funds at quoted market prices as they are traded in an active market with sufficient volume and frequency of transactions. Level 2 — Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified contractual term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. Level 3 assets and liabilities include cost method investments, goodwill, intangible assets, and property, plant and equipment, which are measured at fair value using a discounted cash flow approach when they are impaired. Quantitative information for Level 3 assets and liabilities reviewed at each reporting period includes indicators of significant deterioration in the earnings performance, credit rating, asset quality, business prospects of the investee, and financial indicators of the investee’s ability to continue as a going concern. The Company’s fair value assets at March 31, 2020 and 2019 are as follows; Quoted Prices Significant in Active Other Significant Balance Markets for Observable Unobservable as of Identical Assets Inputs Inputs March 31, (Level 1) (Level 2) (Level 3) 2020 Assets Investment in trading securities (included in short-term investments) $ 14,439 $ - $ - $ 14,439 $ 14,439 $ - $ - $ 14,439 Quoted Prices Significant in Active Other Significant Balance Markets for Observable Observable as of Identical Assets Inputs Inputs March 31, (Level 1) (Level 2) (Level 3) 2019 Assets Investment in trading securities (included in short-term investments) $ - $ - $ - $ - $ - $ - $ - $ -

Restricted Cash

Restricted Cash	6 Months Ended
	Mar. 31, 2020
Cash and Cash Equivalents [Abstract]
Restricted Cash	NOTE 6 – RESTRICTED CASH A subsidiary of the Company participates in a consortium in order to self-insure group care coverage for its employees. The plan is administrated by Benecon Group and the Company makes monthly deposits in a trust account to cover medical claims and any administrative costs associated with the plan. These funds, as required by the plan are restricted in nature and amounted to $1,254,353 as of March 31, 2020. The Company also records a liability for claims that have been incurred but not recorded at the end of each year. The amount of the liability is determined by Benecon Group. The liability recorded in accrued expenses amounted to $123,127 and $118,889 as of March 31, 2020 and September 30, 2019, respectively.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Accounts Receivable, Net	NOTE 7 – ACCOUNTS RECEIVABLE, NET Accounts receivables, net consist of the following: March 31, September 30, 2020 2019 Accounts receivable $ 7,127,048 $ 7,065,035 Allowance for doubtful accounts (599,635 ) (606,051 ) $ 6,527,413 $ 6,458,984 Accounts receivable include amounts due for shipped products and services rendered. Allowance for doubtful accounts include estimated losses resulting from the inability of our customers to make required payments.

Inventory, Net

Inventory, Net	6 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventory, Net	NOTE 8 – INVENTORY, NET Inventory, net, consist of the following: March 31, September 30, 2020 2019 Raw materials $ 3,970,103 $ 4,917,700 Work in progress 918,604 543,857 Finished goods 4,676,371 3,683,810 9,565,078 9,145,367 Less: Allowance for inventory obsolescence (3,918,643 ) (3,938,212 ) Inventory –net of allowance for inventory obsolescence $ 5,646,435 $ 5,207,155

Property and Equipment

Property and Equipment	6 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 9 – PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: March 31, September 30, 2020 2019 Land $ 790,373 $ - Building and leasehold improvements 3,860,019 1,233,733 Furniture and office equipment 604,542 614,569 Computers and software 4,911,334 5,166,922 Trade show display 89,330 89,330 Machinery and equipment 24,093,211 23,463,953 34,348,809 30,568,507 Less: Accumulated depreciation (14,660,263 ) (13,791,955 ) Property and equipment, net $ 19,688,546 $ 16,776,552 Depreciation expense for the six months ended March 31, 2020 and 2019 were $1,427,718 and $2,470,169, respectively.

Leases

Leases	6 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	NOTE 10 – LEASES ASC 842, “Leases”, requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the “effective date method”) or the beginning of the earliest period presented (the “comparative method”) using a modified retrospective approach. Under the effective date method, the Company’s comparative period reporting is unchanged. In contrast, under the comparative method, the Company’s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted ASC 842 October 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess: ● whether expired or existing contracts contain leases under the new definition of a lease; ● lease classification for expired or existing leases; and ● whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company entered into a financing lease for a single vehicle in the Industrial services segment with a term of 3 years. The Company enters into operating leases for its facilities in New York, United Kingdom, and India, as well as for vehicles for use in our Industrial Services segment. The operating lease terms range from 2 to 5 years. The Company excluded the renewal option on its applicable facility leases from the calculation of its right-of-use assets and lease liabilities. Finance and operating lease liabilities consist of the following: March 31, September 30, 2020 2019 Lease liabilities - current Finance leases $ 22,452 $ 22,452 Operating leases 294,552 - 317,004 22,452 Lease liabilities - net of current portion Finance leases $ 9,207 $ 20,061 Operating leases 728,422 - $ 737,629 $ 20,061 A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at March 31, 2020 is set forth below: Years ending September 30, Finance leases Operating Leases Total Remainder of 2020 $ 11,872 $ 243,334 $ 255,206 2021 19,970 409,446 429,416 2022 - 274,682 274,682 2023 - 157,338 157,338 2024 - 34,385 34,385 Undiscounted lease payments 31,842 1,119,185 1,151,027 Amount representing interest (183 ) (96,211 ) (96,394 ) Discounted lease payments $ 31,659 $ 1,022,974 $ 1,054,633 Additional disclosures of lease data are set forth below: Six months ended March 31, 2020 Lease costs: Finance lease costs: Amortization of right-of-use assets 11,456 Interest on lease liabilities 416 Operating lease costs: 156,777 Total lease cost 168,649 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating leases 11,872 Finance leases 398,580 410,452 Weighted-average remaining lease term - finance leases (months) 16 Weighted-average remaining lease term - operating leases (months) 28 Weighted-average discount rate - finance leases 6.95 % Weighted-average discount rate - operating leases 6.57 % The Company used the rate implicit in the lease, where known, or its incremental borrowing rate as the rate used to discount the future lease payments.

Prepaid and Other Current Asset

Prepaid and Other Current Assets	6 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid and Other Current Assets	NOTE 11 – PREPAID AND OTHER CURRENT ASSETS On March 31, 2020, the Company had prepaid and other current assets consisting of prepayments on inventory purchases of $31,033, other current assets of $1,948,741. On September 30, 2019, the Company had prepaid and other current assets consisting of prepayments on inventory purchases of $530,447, and other current assets of $1,469,818.

Other Assets

Other Assets	6 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	NOTE 12 - OTHER ASSETS As of March 31, 2020, the Company had other assets of $1,332,418 which was comprised of rent security of $137,530, and other assets of $1,194,888. As of September 30, 2019, the Company had other assets of $497,857 which was comprised of rent security of $140,246 and other assets of $357,611.

Short-Term Liabilities

Short-Term Liabilities	6 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Short-Term Liabilities	NOTE 13 – SHORT-TERM LIABILITIES The Company’s subsidiaries have revolving lines of credit with various banks in order to fund operations. As of March 31, 2020, the balance of these accounts was $813,410. As of March 31, 2020, there were $4,346,650 in current portion of long-term liabilities.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 14 – RELATED PARTY TRANSACTIONS On August 31, 2019, the Company entered into an Asset Purchase Agreement for the sale of Griffin Filters, LLC to Ducon Technologies, Inc., which Aron Govil, the Company’s CFO, is President, for total consideration of $550,000. As of March 31, 2020, there were $227,109 due from Ducon and as of March 31, 2019, there were no payables or receivables due to or from Ducon.

Long-Term Liabilities

Long-Term Liabilities	6 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Liabilities	NOTE 15 – LONG-TERM LIABILITIES Notes payable On October 25, 2019, the Company, issued a note payable to an independent third-party in the amount of $1,725,000. This note carries interest of 8% and matures on April 25, 2021. After deduction of an original issue discount of $225,000 and legal fees of $5,000, the Company received $1,495,000 in cash. On December 23, 2019, the Company, issued a note payable to an independent third-party in the amount of $1,725,000. This note carries interest of 8% and matures on June 23, 2021. After deduction of an original issue discount of $225,000 and legal fees of $5,000, the Company received $1,495,000 in cash. On March 3, 2020, Vicon, a subsidiary of the Company amended the $5,600,000 Term Loan Agreement with NIL Funding Corporation (“NIL”). Upon closing, $500,000 of outstanding borrowings were repaid to NIL, additionally, another $500,000 is to be paid in one year. The Agreement requires monthly payments of accrued interest that began on October 1, 2018. This note carries interest of 8.85% and matures on March 30, 2022. This note carries loan covenants which the Company is in compliance with as of March 31, 2020 Long-term lease liabilities On October 1, 2019, the Company adopted ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. As of March 31, 2020, the Company has lease liabilities of $1,054,633 of which $317,004 is classified as short-term. The Company has calculated that at September 30, 2019 it would have had an additional $1,351,317 with $289,235 classified as short-term. Mortgage Payable On January 28, 2020, the Company’s subsidiary, Advanced Industrial Services, Inc., completed the purchase of two buildings for a total purchase price of $3,381,433. The Company paid $905,433 in cash and acquired a mortgage from Fulton Bank in the amount of $2,476,000. This mortgage carries interest of LIBOR plus 2.50% per annum and is payable on January 28, 2040. This loan carries loan covenants similar to covenants on The Company’s other loans from Fulton Bank. Series 1 preferred stock dividends payable On March 20, 2020, the Company had announced that it would pay its semiannual dividend to the holders of record on close of business on March 31, 2020 of Series 1 Preferred Stock by April 6, 2020. In light of the COVID-19 lock down announced by the state government, the Company on March 26, 2020, decided to postpone the payment of this dividend for 90 days. The Company intends to pay these dividends with shares of Series 1 Preferred Stock and had thus accrued the dividend.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 16 – STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 10,000,000 shares of Preferred Stock, $0.001 par value. As of March 31, 2020, and September 30, 2019, there were 3,316,683 and 3,110,718 shares issued and outstanding, respectively. Series 1 Preferred Stock On March 30, 2020, the Company amended the Certificate of Designation (the “Amended Certificate of Designation”) for our Series 1 Preferred Stock (the “Series 1 Stock”). The Amended Certificate of Designation increased the number of authorized preferred shares under the designation for our Series 1 Preferred Stock from 3,000,000 shares to 4,000,000 shares. For the six months ended March 31, 2020, 105,965 shares of Series 1 Preferred Stock were issued to pay $1,059,650 worth of dividends to holders of Series 1 Preferred Stock. During the six months ended March 31, 2020, the Company purchased 162,888 shares of its Series 1 Preferred Stock on the open market at an average price per share of $1.17, for an aggregate cost of approximately $190,483, as part of its ongoing share repurchase program announced earlier. The Company intends to retire these shares. As of March 31, 2020, and September 30, 2019, there were 2,216,683 and 2,110,718 shares of Series 1 Preferred Stock issued and outstanding, respectively. Series A Preferred stock During the six-month period ended March 31, 2020, the Company did not issue any Series A Preferred Stock. As of March 31, 2020, and September 30, 2019, there were 1,000,000 shares of Series A Preferred Stock issued and outstanding. Series C Preferred Stock On October 3, 2019, pursuant to Article IV of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series C Preferred Stock, consisting of up to one hundred thousand (100,000) shares, par value $0.001. Under the Certificate of Designation, holders of Series C Preferred Stock are entitled to the number of votes equal to the result of (i) the total number of shares of Common Stock outstanding at the time of such vote multiplied by 10.01, and divided by (ii) the total number of shares of Series C Preferred Stock outstanding at the time of such vote, at each meeting of our shareholders with respect to any and all matters presented to our shareholders for their action or consideration, including the election of directors. For the six months ended March 31, 2020, 100,000 shares of Series C Preferred Stock were issued to Aron Govil, Executive Director and CFO of the Company as part of his employment agreement. In order to determine the fair market value of these shares the Company used the closing price of its Series 1 preferred stock of $0.95 on October 3, 2019. As of March 31, 2020, there were 100,000 shares of Series C Preferred Stock issued and outstanding. Common Stock The Company is authorized to issue 20,000,000 shares of common stock, $0.001 par value. As of March 31, 2020, there were 7,939,628 shares issued and outstanding and at September 30, 2019, there were 3,962,790 shares issued and outstanding. During the six months ended March 31, 2020, 2,623,087 shares of the Company’s common stock have been issued to satisfy $2,628,000 of notes payable, $100,908 in accrued interest, and $903,610 of excess value of shares issued recorded as interest expense, 1,185,393 shares were issued in Securities Subscription Agreements (See below), 168,358 shares were issued in exchange for $198,583 of goods and services. Subscription Rights Offering On December 4, 2019, the “Company entered into a Subscription Agreement relating to the public offering of 338,393 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share, all of which were sold by the Company (the “Offering”) to an accredited investor. The Offering price of the Shares was $1.12 per share for gross proceeds of $379,000. After deducting offering expenses of $18,950 the Company received $360,050 in net proceeds. On January 24, 2020, the “Company entered into a Subscription Agreement relating to the public offering of 500,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share, all of which were sold by the Company (the “Offering”) to an accredited investor. The Offering price of the Shares was $1.50 per share for gross proceeds of $750,000. After deducting offering expenses of $37,500 the Company received $712,500 in net proceeds. On February 26, 2020, the “Company entered into a Subscription Agreement relating to the public offering of 347,000 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share, all of which were sold by the Company (the “Offering”) to an accredited investor. The Offering price of the Shares was $1.30 per share for gross proceeds of $451,100. After deducting offering expenses of $2,500 the Company received $448,600 in net proceeds.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	NOTE 17 – SHARE-BASED COMPENSATION For the six months ended March 31, 2020 and 2019, the Company recognized $143,108 and $72,216 of share-based compensation expense on its outstanding options, respectively. As of March 31, 2020, $396,583 of unrecognized share-based compensation expense is expected to be recognized over a period of four years. Future compensation amounts will be adjusted for any change in estimated forfeitures.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 18 – COMMITMENTS AND CONTINGENCIES The Company has moved its corporate activities to New York City with a lease of 2,500 square feet of office space at a rate of $13,000 per month that expires June 30, 2020. The Company has recognized $78,000 of lease expense for this lease, for the six months ended March 31, 2020. The Company’s IS segment owns approximately 25,000 square feet of warehouse space in Manchester, PA and approximately 43,000 square feet of office and warehouse space in York, PA. The IS segment also leases approximately 15,500 square feet of warehouse space in Emigsville, PA from a third party in a three-year lease at a monthly rent of $4,555 expiring on August 31, 2022. The Company’s AT segment leases (i) approximately 6,700 square feet of office and warehouse space in Pune, India from a third party in an five year lease at a monthly rent of $6,453 (INR456,972) expiring on February 28, 2024, the Company has recognized $38,718 of lease expense for this lease, for the six months ended March 31, 2020, (ii) approximately 27,000 square feet of office and warehouse space in Hauppauge, New York from a third party in a five-year lease at a monthly rent of $25,480 expiring on April 30, 2020, the Company has recognized $152,880 of lease expense for this lease, for the six months ended March 31, 2020, and (iii) approximately 9,400 square feet of office and warehouse space in Hampshire, England in a fifteen-year lease with at a monthly rent of $7,329 (£5,771) which expires on March 24, 2031 and contains provisions to terminate in 2021 and 2026, the Company has recognized $43,974 of lease expense for this lease for the six months ended March 31, 2020.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	NOTE 19 – DISCONTINUED OPERATIONS During fiscal 2019, the Company reached a strategic decision to exit the environmental products business, which was part of Industrial Services group. Additionally, the Company sold its Electronics Manufacturing segment. Accordingly, the Company has reported the results of the environmental control products business and the Electronics Manufacturing segment as discontinued operations in the Consolidated Statements of Operations and in the Consolidated Balance Sheets. Income (loss) from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of the ROB Cemtrex Companies and the environmental products business which are presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the three and six months ended March 31, 2020 and 2019, are as follows: Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Total net sales $ - $ 11,882,090 $ - $ 23,449,045 Cost of sales - 7,239,496 - 13,998,915 Operating, selling, general and administrative expenses - 4,924,822 - 9,764,142 Other expenses - (28,747 ) - 297,751 Income (loss) from discontinued operations - (253,481 ) - (611,763 ) Loss on sale of discontinued operations - - - - Income tax provision - 239 - (66,660 ) Discontinued operations, net of tax $ - $ (253,720 ) $ - $ (545,103 )

Subsequent Events

Subsequent Events	6 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 20 - SUBSEQUENT EVENTS Cemtrex has evaluated subsequent events up to the date the condensed consolidated financial statements were issued. Cemtrex concluded that the following subsequent events have occurred and require recognition or disclosure in the condensed consolidated financial statements. Notice of Delisting On April 21, 2020, the Company received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the closing bid price for the Company’s Common Stock (CETX) listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer meets the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”). Given the recent market conditions, Nasdaq has determined to toll the compliance periods for the bid price and market value of publicly held shares requirements through June 30, 2020. In that regard, on April 16, 2020, Nasdaq filed an immediately effective rule change with the Securities and Exchange Commission. As a result, the compliance periods for the Price-based Requirements will be reinstated on July 1, 2020. The notification has no immediate effect on the listing of the Company’s Common Stock (CETX). In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from July 1, 2020, or until December 28, 2020, to regain compliance with the Minimum Bid Price Requirement. If at any time before December 28, 2020 the bid price of the Company’s Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement. Potential Impacts of COVID-19 on our Business The impact of the coronavirus disease 2019 (“COVID-19”) pandemic continues to unfold. The extent of the pandemic’s effect on our operational and financial performance will depend in large part on future developments, which cannot be reasonably estimated at this time. Future developments include the duration, scope and severity of the pandemic, the actions taken to contain or mitigate its impact both within and outside the jurisdictions where we operate, the impact on governmental programs and budgets, the development of treatments or vaccines, and the resumption of widespread economic activity. Due to the inherent uncertainty of the unprecedented and rapidly evolving situation, we are unable to predict with any confidence the likely impact of the COVID-19 pandemic on our future operations. Paycheck Protection Program Loan In April and May of 2020, the Company received $3,471,100 under the Paycheck Protection Program (“PPP”) established as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). These loans have a six-month deferral on payments, mature two years after receipt of funds, and carry an annual interest rate of 1%. The Company intends to follow all the requirements to convert these loans to grants.

Interim Statement Presentation

Interim Statement Presentation (Policies)	6 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended September 30, 2019 of Cemtrex Inc. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the Unites States (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X pursuant to the requirements of the U.S. Securities and Exchange Commission (‘SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results of operations for the entire year. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements, the disclosure of contingent assets and liabilities in the condensed consolidated financial statements and the accompanying notes, and the reported amounts of revenues, expenses and cash flows during the periods presented. Actual amounts and results could differ from those estimates. The estimates and assumptions the Company makes are based on historical factors, current circumstances and the experience and judgment of the Company’s management. The Company evaluates its estimates and assumptions on an ongoing basis. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, Cemtrex Advanced Technologies Inc., Cemtrex Ltd., Cemtrex Technologies Pvt. Ltd., and Advanced Industrial Services, Inc. and the Company’s majority-owned subsidiary Vicon Industries, Inc. and its subsidiaries, Telesite USA, IQInVision, Vicon Industries Ltd., Vicon Deutschland GmbH, and Vicon Systems, Ltd. All inter-company balances and transactions have been eliminated in consolidation.
Significant Accounting Policies and Recent Accounting Pronouncements	Significant Accounting Policies and Recent Accounting Pronouncements Significant Accounting Policies Note 2 of the Notes to Consolidated Financial Statements, included in the annual report on Form 10-K for the year ended September 30, 2019, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements. Recently Adopted Accounting Pronouncements Adoption of ASU 2016-02 (Topic 842) On October 1, 2019, the Company adopted ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors may use the effective date method and elected certain practical expedients allowing the Company not to reassess: ● whether expired or existing contracts contain leases under the new definition of a lease; ● lease classification for expired or existing leases; and ● whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. Recently Issued Accounting Standards In August 2018, the FASB issued amended guidance, Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, to modify the disclosure requirements on fair value measurements based on the concepts in the FASB Concepts Statements, including the consideration of costs and benefits. The new standard is effective for the Company from October 1, 2020. The Company believes adoption will not have a material effect on the Company’s financial position. In December 2019, the FASB issued amended guidance, Simplifying the Accounting for Income Taxes, to remove certain exceptions to the general principles from ASC 740 - Income Taxes , Reclassifications Certain reclassifications have been made to prior period amounts to conform to the current period presentation.

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	Diluted net income per common share is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. For the three months ended For the six months ended March 31, March 31, 2020 2019 2020 2019 Basic weighted average shares outstanding 6,250,761 1,774,636 5,292,167 1,705,770 Dilutive effect of options - - - - Dilutive effect of convertible debt - - - - Diluted weighted average shares outstanding 6,250,761 1,774,636 5,292,167 1,705,770

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Information	The following tables summarize the Company’s segment information: For the three months ended For the six months ended March 31, March 31, 2020 2019 2020 2019 Revenues from external customers Advanced Technologies 6,186,400 6,927,778 $ 13,411,633 $ 7,395,613 Industrial Services 5,927,447 4,797,629 10,922,297 10,047,383 Total revenues 12,113,847 11,725,407 $ 24,333,930 $ 17,442,996 Gross profit Advanced Technologies 3,331,799 3,028,005 6,874,586 $ 3,303,475 Industrial Services 2,014,305 1,778,793 3,820,004 3,690,909 Total gross profit 5,346,104 4,806,798 $ 10,694,590 $ 6,994,384 Operating (loss) income Advanced Technologies (901,017 ) (2,437,421 ) $ (640,025 ) $ (3,667,729 ) Industrial Services 113,914 (311,586 ) (28,135 ) (497,641 ) Total operating income/(loss) (787,103 ) (2,749,007 ) $ (668,160 ) $ (4,165,370 ) Other income (expense) Advanced Technologies (850,329 ) 18 $ (1,072,396 ) $ (391,564 ) Industrial Services (50,177 ) (510,774 ) (86,307 ) (587,794 ) Total other income (expense) (900,506 ) (510,756 ) $ (1,158,703 ) $ (979,358 ) Depreciation and Amortization Advanced Technologies 381,841 - $ 766,067 $ 536,194 Industrial Services 371,524 473,029 661,651 104,021 Total depreciation and amortization 753,365 473,029 $ 1,427,718 $ 640,215
Schedule of Revenue from Product Sales and Services from its Subsidiaries	Revenue information for the Company is as follows: For the three months ended For the six months ended March 31, March 31, March 31, March 31, Revenues 2020 2019 2020 2019 U.S. Operations $ 11,972,359 $ 11,458,836 $ 24,123,410 $ 17,176,425 Non-U.S. Operations 141,488 266,571 210,520 266,571 $ 12,113,847 $ 11,725,407 $ 24,333,930 $ 17,442,996

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets	The Company’s fair value assets at March 31, 2020 and 2019 are as follows; Quoted Prices Significant in Active Other Significant Balance Markets for Observable Unobservable as of Identical Assets Inputs Inputs March 31, (Level 1) (Level 2) (Level 3) 2020 Assets Investment in trading securities (included in short-term investments) $ 14,439 $ - $ - $ 14,439 $ 14,439 $ - $ - $ 14,439 Quoted Prices Significant in Active Other Significant Balance Markets for Observable Observable as of Identical Assets Inputs Inputs March 31, (Level 1) (Level 2) (Level 3) 2019 Assets Investment in trading securities (included in short-term investments) $ - $ - $ - $ - $ - $ - $ - $ -

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivables, net consist of the following: March 31, September 30, 2020 2019 Accounts receivable $ 7,127,048 $ 7,065,035 Allowance for doubtful accounts (599,635 ) (606,051 ) $ 6,527,413 $ 6,458,984

Inventory, Net (Tables)

Inventory, Net (Tables)	6 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Inventory, net, consist of the following: March 31, September 30, 2020 2019 Raw materials $ 3,970,103 $ 4,917,700 Work in progress 918,604 543,857 Finished goods 4,676,371 3,683,810 9,565,078 9,145,367 Less: Allowance for inventory obsolescence (3,918,643 ) (3,938,212 ) Inventory –net of allowance for inventory obsolescence $ 5,646,435 $ 5,207,155

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment are summarized as follows: March 31, September 30, 2020 2019 Land $ 790,373 $ - Building and leasehold improvements 3,860,019 1,233,733 Furniture and office equipment 604,542 614,569 Computers and software 4,911,334 5,166,922 Trade show display 89,330 89,330 Machinery and equipment 24,093,211 23,463,953 34,348,809 30,568,507 Less: Accumulated depreciation (14,660,263 ) (13,791,955 ) Property and equipment, net $ 19,688,546 $ 16,776,552

Leases (Tables)

Leases (Tables)	6 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of Finance and Operating Lease Liabilities	Finance and operating lease liabilities consist of the following: March 31, September 30, 2020 2019 Lease liabilities - current Finance leases $ 22,452 $ 22,452 Operating leases 294,552 - 317,004 22,452 Lease liabilities - net of current portion Finance leases $ 9,207 $ 20,061 Operating leases 728,422 - $ 737,629 $ 20,061
Schedule of Reconciliation of Undiscounted Cash Flows to Finance and Operating Lease Liabilities	A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at March 31, 2020 is set forth below: Years ending September 30, Finance leases Operating Leases Total Remainder of 2020 $ 11,872 $ 243,334 $ 255,206 2021 19,970 409,446 429,416 2022 - 274,682 274,682 2023 - 157,338 157,338 2024 - 34,385 34,385 Undiscounted lease payments 31,842 1,119,185 1,151,027 Amount representing interest (183 ) (96,211 ) (96,394 ) Discounted lease payments $ 31,659 $ 1,022,974 $ 1,054,633
Schedule of Lease Costs	Additional disclosures of lease data are set forth below: Six months ended March 31, 2020 Lease costs: Finance lease costs: Amortization of right-of-use assets 11,456 Interest on lease liabilities 416 Operating lease costs: 156,777 Total lease cost 168,649 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating leases 11,872 Finance leases 398,580 410,452 Weighted-average remaining lease term - finance leases (months) 16 Weighted-average remaining lease term - operating leases (months) 28 Weighted-average discount rate - finance leases 6.95 % Weighted-average discount rate - operating leases 6.57 %

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations	Income (loss) from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of the ROB Cemtrex Companies and the environmental products business which are presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the three and six months ended March 31, 2020 and 2019, are as follows: Three months ended March 31, Six months ended March 31, 2020 2019 2020 2019 Total net sales $ - $ 11,882,090 $ - $ 23,449,045 Cost of sales - 7,239,496 - 13,998,915 Operating, selling, general and administrative expenses - 4,924,822 - 9,764,142 Other expenses - (28,747 ) - 297,751 Income (loss) from discontinued operations - (253,481 ) - (611,763 ) Loss on sale of discontinued operations - - - - Income tax provision - 239 - (66,660 ) Discontinued operations, net of tax $ - $ (253,720 ) $ - $ (545,103 )

Organization and Plan of Oper_2

Organization and Plan of Operations (Details Narrative)	Aug. 15, 2019d	Mar. 31, 2020Segments
Number of reportable segments | Segments		2
Vicon Industries, Inc. [Member]
Number of reportable segments | d	2

Loss Per Common Share (Details

Loss Per Common Share (Details Narrative) - shares	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Anti dilutive common stock excluded from the computation of diluted earnings per share	1,483,965	538,076

Loss Per Common Share - Schedul

Loss Per Common Share - Schedule of Weighted Average Number of Shares (Details) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Basic weighted average shares outstanding	6,250,761	1,774,636	5,292,167	1,705,770
Dilutive effect of options
Dilutive effect of convertible debt
Diluted weighted average shares outstanding	6,250,761	1,774,636	5,292,167	1,705,770

Segment Information (Details Na

Segment Information (Details Narrative)	6 Months Ended
	Mar. 31, 2020Segments
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Total revenues	$ 12,113,847	$ 11,725,407	$ 24,333,930	$ 17,442,996
Total gross profit	5,346,104	4,806,798	10,694,590	6,994,384
Total operating income/(loss)	(787,103)	(2,749,007)	(668,160)	(4,165,370)
Total other income (expense)	(900,506)	(510,756)	(1,158,703)	(979,358)
Total depreciation and amortization	753,365	473,029	1,427,718	2,470,169
Advanced Technologies [Member]
Total revenues	6,186,400	6,927,778	13,411,633	7,395,613
Total gross profit	3,331,799	3,028,005	6,874,586	3,303,475
Total operating income/(loss)	(901,017)	(2,437,421)	(640,025)	(3,667,729)
Total other income (expense)	(850,329)	18	(1,072,396)	(391,564)
Total depreciation and amortization	381,841		766,067	536,194
Industrial Services [Member]
Total revenues	5,927,447	4,797,629	10,922,297	10,047,383
Total gross profit	2,014,305	1,778,793	3,820,004	3,690,909
Total operating income/(loss)	113,914	(311,586)	(28,135)	(497,641)
Total other income (expense)	(50,177)	(510,774)	(86,307)	(587,794)
Total depreciation and amortization	$ 371,524	$ 473,029	$ 661,651	$ 104,021

Segment Information - Schedul_2

Segment Information - Schedule of Revenue from Product Sales and Services from its Subsidiaries (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Revenues	$ 12,113,847	$ 11,725,407	$ 24,333,930	$ 17,442,996
United States [Member]
Revenues	11,972,359	11,458,836	24,123,410	17,176,425
Non-United States [Member]
Revenues	$ 141,488	$ 266,571	$ 210,520	$ 266,571

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Assets (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Investment in trading securities	$ 14,439
Short-term Investments [Member]
Investment in trading securities	14,439
Quoted Prices in Active Markets for Identical Assets [Member]
Investment in trading securities	14,439
Quoted Prices in Active Markets for Identical Assets [Member] | Short-term Investments [Member]
Investment in trading securities	14,439
Significant Other Observable Inputs [Member]
Investment in trading securities
Significant Other Observable Inputs [Member] | Short-term Investments [Member]
Investment in trading securities
Significant Unobservable Inputs [Member]
Investment in trading securities
Significant Unobservable Inputs [Member] | Short-term Investments [Member]
Investment in trading securities

Restricted Cash (Details Narrat

Restricted Cash (Details Narrative) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 1,254,353	$ 1,088,091
Accrued expenses	$ 123,127	$ 118,889

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Receivables [Abstract]
Accounts receivable	$ 7,127,048	$ 7,065,035
Allowance for doubtful accounts	(599,635)	(606,051)
Accounts receivables, net	$ 6,527,413	$ 6,458,984

Inventory, Net - Schedule of In

Inventory, Net - Schedule of Inventory, Net (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 3,970,103	$ 4,917,700
Work in progress	918,604	543,857
Finished goods	4,676,371	3,683,810
Inventory, gross	9,565,078	9,145,367
Less: Allowance for inventory obsolescence	(3,918,643)	(3,938,212)
Inventory -net of allowance for inventory obsolescence	$ 5,646,435	$ 5,207,155

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 753,365	$ 473,029	$ 1,427,718	$ 2,470,169

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Property and equipment, gross	$ 34,348,809	$ 30,568,507
Less: Accumulated depreciation	(14,660,263)	(13,791,955)
Property and equipment, net	19,688,546	16,776,552
Land [Member]
Property and equipment, gross	790,373
Building and Leasehold Improvements [Member]
Property and equipment, gross	3,860,019	1,233,733
Furniture and Office Equipment [Member]
Property and equipment, gross	604,542	614,569
Computers and Software [Member]
Property and equipment, gross	4,911,334	5,166,922
Trade Show Display [Member]
Property and equipment, gross	89,330	89,330
Machinery and Equipment [Member]
Property and equipment, gross	$ 24,093,211	$ 23,463,953

Leases (Details Narrative)

Leases (Details Narrative)	6 Months Ended
	Mar. 31, 2020
Lease description	The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less.
Minimum [Member]
Operating lease term	2 years
Maximum [Member]
Operating lease term	5 years
Industrial Services [Member]
Finance lease term	3 years

Leases - Summary of Finance and

Leases - Summary of Finance and Operating Lease Liabilities (Details) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Leases [Abstract]
Lease liabilities - current, Finance leases	$ 22,452	$ 22,452
Lease liabilities - current, Operating leases	294,552
Lease liabilities - current	317,004	22,718
Lease liabilities - net of current portion, Finance leases	9,207	20,061
Lease liabilities - net of current portion, Operating leases	728,422
Lease liabilities - net of current portion	$ 737,629	$ 20,061

Leases - Schedule of Reconcilia

Leases - Schedule of Reconciliation of Undiscounted Cash Flows to Finance and Operating Lease Liabilities (Details)	Mar. 31, 2020USD ($)
Leases [Abstract]
Finance leases, Remainder of 2020	$ 11,872
Finance leases, 2021	19,970
Finance leases, 2022
Finance leases, 2023
Finance leases, 2024
Finance leases, Undiscounted lease payments	31,842
Finance leases, Amount representing interest	(183)
Finance leases, Discounted lease payments	31,659
Operating Leases, Remainder of 2020	243,334
Operating Leases, 2021	409,446
Operating Leases, 2022	274,682
Operating Leases, 2023	157,338
Operating Leases, 2024	34,385
Operating Leases, Undiscounted lease payments	1,119,185
Operating Leases, Amount representing interest	(96,211)
Operating Leases, Discounted lease payments	1,022,974
Total, Remainder of 2020	255,206
Total, 2021	429,416
Total, 2022	274,682
Total, 2023	157,338
Total, 2024	34,385
Total, Undiscounted lease payments	1,151,027
Total, Amount representing interest	(96,394)
Total, Discounted lease payments	$ 1,054,633

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details)	6 Months Ended
	Mar. 31, 2020USD ($)
Leases [Abstract]
Finance lease costs: Amortization of right-of-use assets	$ 11,456
Finance lease costs: Interest on lease liabilities	416
Operating lease costs:	156,777
Total lease cost	168,649
Cash paid for amounts included in the measurement of lease liabilities: Operating leases	11,872
Cash paid for amounts included in the measurement of lease liabilities: Finance leases	398,580
Cash paid for amounts included in the measurement of lease liabilities: Total	$ 410,452
Weighted-average remaining lease term - finance leases (months)	16 months
Weighted-average remaining lease term - operating leases (months)	28 months
Weighted-average discount rate - finance leases	6.95%
Weighted-average discount rate - operating leases	6.57%

Prepaid and Other Current Ass_2

Prepaid and Other Current Assets (Details Narrative) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepayments on inventory purchases	$ 31,033	$ 530,447
Other assets, current	$ 1,948,741	$ 1,469,818

Other Assets (Details Narrative

Other Assets (Details Narrative) - USD ($)	Mar. 31, 2020	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	$ 1,332,418	$ 497,857
Rent security	137,530	140,246
Other assets excluding rent security	$ 1,194,888	$ 357,611

Short-Term Liabilities (Details

Short-Term Liabilities (Details Narrative)	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
Revolving lines of credit	$ 813,410
Current portion of long-term liabilities	$ 4,346,650

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Aug. 31, 2019	Mar. 31, 2020	Sep. 30, 2019
Trade receivables related parties		$ 227,109	$ 227,019
Ducon Technologies, Inc [Member]
Trade receivables related parties		$ 227,019
Asset Purchase Agreement [Member] | Griffin Filters, LLC [Member] | Ducon Technologies, Inc [Member] | Aron Govil [Member]
Consideration amount	$ 550,000

Long-Term Liabilities (Details

Long-Term Liabilities (Details Narrative) - USD ($)	Mar. 03, 2020	Dec. 23, 2019	Oct. 25, 2019	Mar. 31, 2020	Mar. 31, 2019	Sep. 30, 2019	Jan. 28, 2020
Proceeds from notes payable				$ 2,990,000
Repayment of notes payable				676,640	$ 214,560
Lease liabilities				1,054,633		$ 1,351,317
Short term lease payments				317,004		289,235
Long term liabilities				$ 12,882,071		$ 6,789,332
Advanced Industrial Services, Inc [Member]
Purchase price							$ 3,381,433
Long term liabilities							$ 905,433
Advanced Industrial Services, Inc [Member] | LIBOR [Member]
Debt instrument, interest rate							2.50%
Advanced Industrial Services, Inc [Member] | Fulton Bank [Member]
Long term liabilities							$ 2,476,000
Loan Agreement [Member]
Note payable	$ 5,600,000
Debt instrument, interest rate	8.85%
Debt instrument, maturity date	Mar. 30, 2022
Repayment of notes payable	$ 500,000
Loan Agreement [Member] | One Year [Member]
Repayment of notes payable	$ 500,000
Independent Third Party [Member]
Note payable		$ 1,725,000	$ 1,725,000
Debt instrument, interest rate		8.00%	8.00%
Debt instrument, maturity date		Jun. 23, 2021	Apr. 25, 2021
Original issue discount		$ 225,000	$ 225,000
Legal fees		5,000	5,000
Proceeds from notes payable		$ 1,495,000	$ 1,495,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Feb. 26, 2020	Jan. 24, 2020	Dec. 04, 2019	Oct. 03, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 30, 2020	Sep. 30, 2019
Preferred stock, shares authorized					10,000,000			10,000,000
Preferred stock, par value					$ 0.001			$ 0.001
Preferred stock, shares issued					3,316,683			3,110,718
Preferred stock, shares outstanding					3,316,683			3,110,718
Common stock, shares authorized					20,000,000			20,000,000
Common stock, par or stated value per share					$ 0.001			$ 0.001
Common stock, shares, issued					7,939,628			3,962,790
Common stock, shares, outstanding					7,939,628			3,962,790
Proceeds from public offering						$ 360,695
Common Stock [Member]
Number of common stock shares issued					168,358
Number of common shares value					$ 198,583
Notes Payable [Member]
Number of common stock shares issued					2,623,087
Number of common shares value					$ 2,628,000
Accrued interest					$ 100,908
Securities Subscription Agreement [Member]
Number of common stock shares issued					1,185,393
Excess value of common stock					$ 903,610
Accredited Investor [Member] | Subscription Agreement [Member] | Public Offering [Member]
Number of common stock shares issued	347,000	500,000	338,393
Stock price per share	$ 1.30	$ 1.50	$ 1.12
Common stock, par or stated value per share	$ 0.001	$ 0.001	$ 0.001
Gross proceeds from public offering	$ 451,100	$ 750,000	$ 379,000
Offering expenses	2,500	37,500	18,950
Proceeds from public offering	$ 448,600	$ 712,500	$ 360,050
Series 1 Preferred Stock [Member]
Preferred stock, shares authorized					4,000,000			4,000,000
Preferred stock, shares issued					2,216,683			2,110,718
Preferred stock, shares outstanding					2,216,683			2,110,718
Shares of preferred stock for dividends					105,965
Dividends paid to preferred shareholders					$ 1,059,650
Number of common stock shares issued					162,888
Stock price per share				$ 0.95	$ 1.17
Number of common shares value					$ 190,483
Series 1 Preferred Stock [Member] | Minimum [Member]
Preferred stock, shares authorized							3,000,000
Series 1 Preferred Stock [Member] | Maximum [Member]
Preferred stock, shares authorized							4,000,000
Series A Preferred Stock [Member]
Preferred stock, shares authorized					1,000,000			1,000,000
Preferred stock, shares issued					1,000,000			1,000,000
Preferred stock, shares outstanding					1,000,000			1,000,000
Preferred Stock Series C [Member]
Preferred stock, shares authorized				100,000	100,000			100,000
Preferred stock, par value				$ 0.001
Preferred stock, shares issued					100,000			100,000
Preferred stock, shares outstanding					100,000			100,000
Preferred stock, voting rights				Under the Certificate of Designation, holders of Series C Preferred Stock are entitled to the number of votes equal to the result of (i) the total number of shares of Common Stock outstanding at the time of such vote multiplied by 10.01, and divided by (ii) the total number of shares of Series C Preferred Stock outstanding at the time of such vote, at each meeting of our shareholders with respect to any and all matters presented to our shareholders for their action or consideration, including the election of directors.
Preferred Stock Series C [Member] | Executive Director and CFO [Member] | Employment Agreement [Member]
Number of common stock shares issued					100,000

Share-Based Compensation (Detai

Share-Based Compensation (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 143,108	$ 72,216
Unrecognized compensation cost	$ 396,583
Unrecognized compensation expense, expected to be recognized period	4 years

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - 6 months ended Mar. 31, 2020	USD ($)ft²	INR (₨)ft²	GBP (£)ft²
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	2,500	2,500	2,500
Monthly lease rent payment	$ 13,000
Lease expiration date	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2020
Lease expense	$ 78,000
Operating lease termination description	The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less.	The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less.	The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less.
IS Segment [Member] | Manchester PA [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	25,000	25,000	25,000
IS Segment [Member] | York, PA [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	43,000	43,000	43,000
IS Segment [Member] | Emigsville, PA [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	15,500	15,500	15,500
Monthly lease rent payment	$ 4,555
Lease expiration date	Aug. 31, 2022	Aug. 31, 2022	Aug. 31, 2022
Lease term	3 years	3 years	3 years
Advanced Technologies [Member] | Pune, India [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	6,700	6,700	6,700
Monthly lease rent payment	$ 6,453
Lease expiration date	Feb. 28, 2024	Feb. 28, 2024	Feb. 28, 2024
Lease expense	$ 38,718
Lease term	5 years	5 years	5 years
Advanced Technologies [Member] | Pune, India [Member] | INR [Member]
Commitments and Contingencies Disclosure [Line Items]
Monthly lease rent payment | ₨		₨ 456,972
Advanced Technologies [Member] | Hauppauge, New York [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	27,000	27,000	27,000
Monthly lease rent payment	$ 25,480
Lease expiration date	Apr. 30, 2020	Apr. 30, 2020	Apr. 30, 2020
Lease expense	$ 152,880
Lease term	5 years	5 years	5 years
Advanced Technologies [Member] | Hampshire, England [Member]
Commitments and Contingencies Disclosure [Line Items]
Area of land | ft²	9,400	9,400	9,400
Monthly lease rent payment	$ 7,329
Lease expiration date	Mar. 24, 2031	Mar. 24, 2031	Mar. 24, 2031
Lease expense	$ 43,974
Lease term	15 years	15 years	15 years
Operating lease termination description	Terminate in 2021 and 2026.	Terminate in 2021 and 2026.	Terminate in 2021 and 2026.
Advanced Technologies [Member] | Hampshire, England [Member] | GBP [Member]
Commitments and Contingencies Disclosure [Line Items]
Monthly lease rent payment | £			£ 771

Discontinued Operations - Sched

Discontinued Operations - Schedule of Disposal Groups, Including Discontinued Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Total net sales		$ 11,882,090		$ 23,449,045
Cost of sales		7,239,496		13,998,915
Operating, selling, general and administrative expenses		4,924,822		9,764,142
Other expenses		(28,747)		297,751
Income (loss) from discontinued operations		(253,481)		(611,763)
Loss on sale of discontinued operations
Income tax provision		239		(66,660)
Discontinued operations, net of tax		$ (253,720)		$ (545,103)

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member]	Apr. 21, 2020USD ($)d$ / shares
Closing bid price	$ 1
Trading days | d	30
Minimum bid price	$ 1
Shares per share	$ 1
Proceeds from loans | $	$ 3,471,100
Interest rate percentage	1.00%