Cemtrex (CETX) 10-Q 16 May 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Mar. 31, 2022	May 13, 2022
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--09-30
Entity File Number	001-37464
Entity Registrant Name	CEMTREX, INC.
Entity Central Index Key	0001435064
Entity Tax Identification Number	30-0399914
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	276 Greenpoint Ave
Entity Address, Address Line Two	Suite 208
Entity Address, City or Town	Brooklyn
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11222
City Area Code	631
Local Phone Number	756-9116
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,263,296
Common Stock [Member]
Title of 12(b) Security	Common Stock
Trading Symbol	CETX
Security Exchange Name	NASDAQ
Series 1 Preferred Stock [Member]
Title of 12(b) Security	Series 1 Preferred Stock
Trading Symbol	CETXP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Current assets
Cash and equivalents	$ 8,970,324	$ 15,426,976
Restricted cash	1,659,905	1,759,347
Short-term investments	4,624,803	14,981
Trade receivables, net	6,005,568	7,810,896
Trade receivables - related party	1,472,514	1,487,155
Inventory –net of allowance for inventory obsolescence	7,066,654	5,657,287
Prepaid expenses and other assets	3,367,643	2,585,652
Total current assets	33,167,411	34,742,294
Property and equipment, net	6,560,246	6,738,944
Right-of-use assets	2,918,671	2,940,127
Goodwill	7,821,283	7,821,283
Other	1,280,386	697,240
Total Assets	51,747,997	52,939,888
Current liabilities
Accounts payable	4,764,560	4,235,002
Short-term liabilities	15,720,515	9,977,972
Lease liabilities - short-term	905,041	830,791
Deposits from customers	184,134	536,220
Accrued expenses	1,309,514	1,621,053
Deferred revenue	2,543,822	2,004,170
Accrued income taxes	135,388	448,194
Total current liabilities	25,562,974	19,653,402
Long-term liabilities
Loans payable to bank	203,547	767,279
Long-term lease liabilities	2,013,630	2,017,408
Notes payable	2,114,322	2,350,000
Mortgage payable	2,207,617	2,257,785
Other long-term liabilities	822,008	839,171
Paycheck Protection Program Loans	103,190	1,032,200
Deferred Revenue - long-term	582,022	467,967
Total long-term liabilities	8,046,336	9,731,810
Total liabilities	33,609,310	29,385,212
Commitments and contingencies
Shareholders’ equity
Common stock, $0.001 par value, 50,000,000 shares authorized, 24,673,210 shares issued and outstanding at March 31, 2022 and 20,782,194 shares issued and outstanding at September 30, 2021	24,673	20,782
Additional paid-in capital	65,779,736	61,727,834
Retained earnings (accumulated deficit)	(51,107,260)	(41,908,062)
Treasury stock at cost	(148,291)	(148,291)
Accumulated other comprehensive income (loss)	2,756,321	2,896,452
Total Cemtrex stockholders’ equity	17,307,209	22,590,650
Non-controlling interest	831,478	964,026
Total liabilities and shareholders’ equity	51,747,997	52,939,888
Series 1 Preferred Stock [Member]
Shareholders’ equity
Preferred stock , value	1,980	1,885
Series C Preferred Stock [Member]
Shareholders’ equity
Preferred stock , value	$ 50	$ 50

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Sep. 30, 2021	Oct. 03, 2019
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	2,029,753	1,935,151
Preferred stock, shares outstanding	2,029,753	1,935,151
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	24,673,210	20,782,194
Common stock, shares outstanding	24,673,210	20,782,194
Series 1 Preferred Stock [Member]
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	1,979,753	1,885,151
Preferred stock, shares outstanding	1,979,753	1,885,151
Preferred stock, liquidation value per share	$ 10	$ 10
Series C Preferred Stock [Member]
Preferred stock, par value			$ 0.001
Preferred stock, shares authorized	100,000	100,000	100,000
Preferred stock, shares issued	50,000	50,000
Preferred stock, shares outstanding	50,000	50,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 12,728,215	$ 9,260,385	$ 23,400,704	$ 18,096,461
Cost of revenues	8,675,604	5,331,501	15,478,899	10,162,107
Gross profit	4,052,611	3,928,884	7,921,805	7,934,354
Operating expenses
General and administrative	6,757,233	5,249,985	13,369,237	10,667,181
Research and development	1,114,715	641,497	2,426,428	1,275,722
Total operating expenses	7,871,948	5,891,482	15,795,665	11,942,903
Operating income/(loss)	(3,819,337)	(1,962,598)	(7,873,860)	(4,008,549)
Other income/(expense)
Other income/(expense)	334,931	1,679,944	1,265,100	2,630,932
Settlement Agreement - Related Party		3,674,165		3,674,165
Interest Expense	(1,317,517)	(849,076)	(2,722,986)	(1,458,017)
Total other income/(expense), net	(982,586)	4,505,033	(1,457,886)	4,847,080
Net loss before income taxes	(4,801,923)	2,542,435	(9,331,746)	838,531
Income tax benefit/(expense)		(98,477)		(127,431)
Net income/(loss)	(4,801,923)	2,443,958	(9,331,746)	711,100
Less loss in noncontrolling interest	(80,676)	(10,174)	(132,548)	(50,421)
Net income/(loss) attributable to Cemtrex, Inc. shareholders	(4,721,247)	2,454,132	(9,199,198)	761,521
Other comprehensive income/(loss)
Net income/(loss)	(4,801,923)	2,443,958	(9,331,746)	711,100
Foreign currency translation loss	(199,623)	(97,423)	(140,131)	(40,325)
Defined benefit plan actuarial gain		87,895		87,895
Comprehensive income/(loss)	(5,001,546)	2,434,430	(9,471,877)	758,670
Less comprehensive loss attributable to noncontrolling interest	80,676	10,174	132,548	50,421
Comprehensive income/(loss) attributable to Cemtrex, Inc. shareholders	$ (5,082,222)	$ 2,424,256	$ (9,604,425)	$ 708,249
Income/(loss) Per Share-Basic	$ (0.20)	$ 0.13	$ (0.39)	$ 0.04
Income/(loss) Per Share-Diluted	$ (0.20)	$ 0.13	$ (0.39)	$ 0.04
Weighted Average Number of Shares-Basic	24,088,940	18,558,843	23,588,004	18,195,510
Weighted Average Number of Shares-Diluted	24,088,940	18,663,770	23,588,004	18,203,374

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member]Series 1 Preferred Stock [Member]	Preferred Stock [Member]Series A Preferred Stock [Member]	Preferred Stock [Member]Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Total	Noncontrolling Interest [Member]
Beginning balance, value at Sep. 30, 2020	$ 2,157	$ 1,000	$ 100	$ 17,623	$ 60,221,766	$ (34,100,067)	$ (148,291)	$ 1,812,457	$ 27,806,745	$ 1,042,300
Beginning balance, shares at Sep. 30, 2020	2,156,784	1,000,000	100,000	17,622,539
Foreign currency translation gain/(loss)								37,864	37,864
Share-based compensation					16,071				16,071
Shares issued to pay notes payable				$ 345	407,507				407,852
Shares issued to pay notes payable, shares				345,638
Dividends paid in Series 1 preferred shares	$ 108				(108)
Dividends paid in Series 1 preferred shares, shares	108,169
Income/(loss) attributable to noncontrolling interest										(40,247)
Net income/(loss)						(1,692,611)			(1,692,611)
Ending balance, value at Dec. 31, 2020	$ 2,265	$ 1,000	$ 100	$ 17,968	60,645,236	(35,792,678)	(148,291)	1,850,321	26,575,921	1,002,053
Ending balance, shares at Dec. 31, 2020	2,264,953	1,000,000	100,000	17,968,177
Beginning balance, value at Sep. 30, 2020	$ 2,157	$ 1,000	$ 100	$ 17,623	60,221,766	(34,100,067)	(148,291)	1,812,457	27,806,745	1,042,300
Beginning balance, shares at Sep. 30, 2020	2,156,784	1,000,000	100,000	17,622,539
Income/(loss) attributable to noncontrolling interest									(50,421)
Net income/(loss)									761,521
Ending balance, value at Mar. 31, 2021	$ 1,795		$ 50	$ 18,711	58,320,570	(33,338,546)	(148,291)	1,840,793	26,695,082	991,879
Ending balance, shares at Mar. 31, 2021	1,795,004		50,000	18,711,463
Beginning balance, value at Dec. 31, 2020	$ 2,265	$ 1,000	$ 100	$ 17,968	60,645,236	(35,792,678)	(148,291)	1,850,321	26,575,921	1,002,053
Beginning balance, shares at Dec. 31, 2020	2,264,953	1,000,000	100,000	17,968,177
Foreign currency translation gain/(loss)								(97,423)	(97,423)
Share-based compensation					49,246				49,246
Shares issued to pay notes payable				$ 743	1,298,733				1,299,476
Shares issued to pay notes payable, shares				743,286
Income/(loss) attributable to noncontrolling interest									(10,174)	(10,174)
Net income/(loss)						2,454,132			2,454,132
Defined benefit plan actuarial gain/(loss)								87,895	87,895
Shares and options surrendered in settelment agreement	$ (470)	$ (1,000)	$ (50)		(3,672,645)				(3,674,165)
Shares and options surrendered in settelment agreement, shares	(469,949)	(1,000,000)	(50,000)
Ending balance, value at Mar. 31, 2021	$ 1,795		$ 50	$ 18,711	58,320,570	(33,338,546)	(148,291)	1,840,793	26,695,082	991,879
Ending balance, shares at Mar. 31, 2021	1,795,004		50,000	18,711,463
Beginning balance, value at Sep. 30, 2021	$ 1,885		$ 50	$ 20,782	61,727,834	(41,908,062)	(148,291)	2,896,452	22,590,650	964,026
Beginning balance, shares at Sep. 30, 2021	1,885,151		50,000	20,782,194
Foreign currency translation gain/(loss)								59,492	59,492
Share-based compensation					45,371				45,371
Shares issued to pay notes payable				$ 2,891	3,285,180				3,288,071
Shares issued to pay notes payable, shares				2,891,016
Dividends paid in Series 1 preferred shares	$ 95				(95)
Dividends paid in Series 1 preferred shares, shares	94,602
Income/(loss) attributable to noncontrolling interest										(51,872)
Net income/(loss)						(4,477,951)			(4,477,951)
Ending balance, value at Dec. 31, 2021	$ 1,980		$ 50	$ 23,673	65,058,290	(46,386,013)	(148,291)	2,955,944	21,505,633	912,154
Ending balance, shares at Dec. 31, 2021	1,979,753		50,000	23,673,210
Beginning balance, value at Sep. 30, 2021	$ 1,885		$ 50	$ 20,782	61,727,834	(41,908,062)	(148,291)	2,896,452	22,590,650	964,026
Beginning balance, shares at Sep. 30, 2021	1,885,151		50,000	20,782,194
Income/(loss) attributable to noncontrolling interest									(132,548)
Net income/(loss)									(9,199,198)
Ending balance, value at Mar. 31, 2022	$ 1,980		$ 50	$ 24,673	65,779,736	(51,107,260)	(148,291)	2,756,321	17,307,209	831,478
Ending balance, shares at Mar. 31, 2022	1,979,753		50,000	24,673,210
Beginning balance, value at Dec. 31, 2021	$ 1,980		$ 50	$ 23,673	65,058,290	(46,386,013)	(148,291)	2,955,944	21,505,633	912,154
Beginning balance, shares at Dec. 31, 2021	1,979,753		50,000	23,673,210
Foreign currency translation gain/(loss)								(199,623)	(199,623)
Share-based compensation					27,046				27,046
Shares issued to pay notes payable				$ 1,000	694,400				695,400
Shares issued to pay notes payable, shares				1,000,000
Income/(loss) attributable to noncontrolling interest									(80,676)	(80,676)
Net income/(loss)						(4,721,247)			(4,721,247)
Ending balance, value at Mar. 31, 2022	$ 1,980		$ 50	$ 24,673	$ 65,779,736	$ (51,107,260)	$ (148,291)	$ 2,756,321	$ 17,307,209	$ 831,478
Ending balance, shares at Mar. 31, 2022	1,979,753		50,000	24,673,210

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities
Net income/(loss)	$ (9,331,746)	$ 711,100
Adjustments to reconcile net loss to net cash provided/(used) by operating activities:
Depreciation and amortization	862,683	680,004
Loss on disposal of property and equipment	30,558	9,219
Amortization of right-of-use assets	338,643	438,539
Change in allowance for doubtful accounts	(1,839)	(137,356)
Share-based compensation	72,417	65,318
Income tax expense/ (benefit)		127,431
Interest expense paid in equity shares	1,521,992	657,329
Accrued interest on notes payable	329,264	41,833
Amortization of original issue discounts on notes payable	583,333	475,000
Gain on marketable securities	(159,905)	(1,869,338)
Discharge of Paycheck Protection Program Loans	(971,500)
Settlement Agreement - Related Party		(3,674,165)
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:
Accounts receivable	1,807,167	1,420,861
Accounts receivable - related party	14,641	(71,581)
Inventory	(1,409,367)	(565,002)
Prepaid expenses and other current assets	(781,991)	(631,714)
Other assets	(83,146)	169,346
Other liabilities	(17,163)	11,438
Accounts payable	529,558	(543,272)
Operating lease liabilities	(246,715)	(450,102)
Deposits from customers	(352,086)	66,808
Accrued expenses	(311,539)	161,820
Deferred revenue	653,707	138,595
Income taxes payable	(312,806)	(88,765)
Net cash used by operating activities	(7,235,840)	(2,856,654)
Cash Flows from Investing Activities
Purchase of property and equipment	(935,499)	(944,601)
Proceeds from sale of property and equipment	230,901
Investment in MasterpieceVR	(500,000)	(500,000)
Investment in related party		(900,000)
Proceeds from sale of marketable securities	176,945	7,080,375
Purchase of marketable securities	(4,626,862)	(4,845,903)
Net cash used by investing activities	(5,654,515)	(110,129)
Cash Flows from Financing Activities
Proceeds from notes payable	8,000,000
Payments on notes payable	(901,763)	(2,070,257)
Payments on bank loans	(613,900)	(655,276)
Proceeds from Paycheck Protection Program Loans		1,970,785
Net cash provided/(used) by financing activities	6,484,337	(754,748)
Effect of currency translation	(150,076)	(70,668)
Net decrease in cash, cash equivalents, and restricted cash	(6,406,018)	(3,721,531)
Cash, cash equivalents, and restricted cash at beginning of period	17,186,323	21,072,859
Cash, cash equivalents, and restricted cash at end of period	10,630,229	17,280,660
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash
Cash and equivalents	8,970,324	15,573,734
Restricted cash	1,659,905	1,706,926
Total cash, cash equivalents, and restricted cash	10,630,229	17,280,660
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	288,397	283,855
Cash paid during the period for income taxes	312,806	88,765
Supplemental Schedule of Non-Cash Investing and Financing Activities
Investment in Virtual Driver Interactive		439,774
Stock issued to pay notes payable	3,288,071	1,707,327
Shares issued in connection with note payable	700,400
Financing of right of use assets	$ 317,187

ORGANIZATION AND PLAN OF OPERAT

ORGANIZATION AND PLAN OF OPERATIONS	6 Months Ended
	Mar. 31, 2022
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 growth into a leading multi-industry technology company. The Company has expanded in a wide range of sectors, including smart technologies, virtual and augmented realities, industrial solutions, and intelligent security 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 has two Advanced Technologies (AT) Cemtrex’s Advanced Technologies segment operates several brands that deliver cutting-edge software and hardware technologies: - Vicon Industries – - SmartDesk – - Cemtrex XR (“CXR”) - Virtual Driver Interactive (“VDI”) - Bravo Strong - good tech (formerly Cemtrex Labs) Industrial Services (IS) Cemtrex’s IS segment operates through a brand, Advanced Industrial Services (“AIS”), that 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. Acquisition of Virtual Driver Interactive On October 26, 2020, the company acquired Virtual Driver Interactive (“VDI”), a California based provider of innovative driver training simulation solutions for a purchase price of $ 1,339,774 175,428 For over 10 years, VDI has been known for its effective and engaging driver training systems, designed for users of all ages and skill levels. The Company offers comprehensive training for new teen and novice drivers, along with advanced training for corporate fleets and truck drivers. VDI’s wide range of training courses and system options provide customers with highly portable, affordable and effective solutions, all while focusing on the dangers of distracted driving. Results for VDI will be reported under the AT segment. The Company paid $ 900,000 439,774 5 239,774 200,000 175,428 876,820 39,992 598,391 Strategic Investment On November 13, 2020, Cemtrex made a $ 500,000 500,000 Potential Impacts of COVID-19 on our Business The current COVID-19 pandemic has impacted our business operations and the results of our operations in the last fiscal year, primarily with delays in expected orders by many customers and new product development, including newer versions of surveillance software since our technical facility in Pune, India has been under lock down on multiple occasions. Overall bookings level in the IS segment of our business were down by more than 20%, however our AT segment had experienced relatively less slow down. Bookings and revenue are starting to show signs of recovery in this fiscal quarter compared to the same period last year. However, due to delays in certain supply chain areas, the expected launch times of our new products and new versions has resulted in delays of several months. Additionally, increased prices and the need to increase wages to retain talent may cause our gross margin percentages to shrink and our operational costs to rise. The broader implications of COVID-19 on our results from operations going forward remains uncertain. The COVID-19 pandemic and the resulting supply chain issues and inflation has the potential to cause adverse effects to our customers, suppliers or business partners in locations that have or will experience more pronounced disruptions, which could result in a reduction to future revenue and manufacturing output as well as delays in our new product development activities. However, opportunities in the video surveillance field have been growing for Vicon products. The extent of the pandemics 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 emergence of new virus variants that are more contagious or harmful than prior variants, 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.

INTERIM STATEMENT PRESENTATION

INTERIM STATEMENT PRESENTATION	6 Months Ended
	Mar. 31, 2022
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, 2021, 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 Technologies Pvt. Ltd., Cemtrex XR Inc., and Advanced Industrial Services, Inc. and the Company’s majority owned subsidiary Vicon Industries, Inc. and its subsidiary, Vicon Industries Ltd. All inter-company balances and transactions have been eliminated in consolidation. 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, 2021, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements. Recently Issued Accounting Standards ASU 2016-13 Measurement of Credit Losses on Financial Instrument is effective for fiscal years beginning after December 15, 2022. This is not expected to apply to the Company as financial instruments giving rise to credit risk are not utilized by the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements. The Company does not believe that any other recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	6 Months Ended
	Mar. 31, 2022
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 and six months ended March 31, 2022, and 2021, the following items were excluded from the computation of diluted net loss per common share as their effect is anti-dilutive: SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT 2022 2021 2022 2021 For the three months ended For the six months ended March 31, March 31, 2022 2021 2022 2021 Warrants to purchase shares - 433,965 - 433,965 Options 800,000 880,049 800,000 944,757 Net loss per common share anti-dilutive effect 800,000 880,049 800,000 944,757

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 4 – SEGMENT INFORMATION The Company reports and evaluates financial information for two The following tables summarize the Company’s segment information: SCHEDULE OF SEGMENT INFORMATION 2022 2021 2022 2021 For the three months ended For the six months ended March 31, March 31, 2022 2021 2022 2021 Revenues from external customers Advanced Technologies $ 7,722,307 $ 5,487,414 $ 13,340,824 $ 10,160,283 Industrial Services $ 5,005,908 3,772,971 10,059,880 7,936,178 Total revenues $ 12,728,215 $ 9,260,385 $ 23,400,704 $ 18,096,461 Gross profit Advanced Technologies $ 2,586,593 $ 2,646,926 $ 5,025,602 $ 4,993,198 Industrial Services 1,466,018 1,281,958 2,896,203 2,941,156 Total gross profit $ 4,052,611 $ 3,928,884 $ 7,921,805 $ 7,934,354 Operating income/(loss) Advanced Technologies $ (4,810,095 ) $ (1,693,377 ) $ (9,826,559 ) $ (3,535,723 ) Industrial Services 990,758 (269,221 ) 1,952,699 (472,826 ) Total operating loss $ (3,819,337 ) $ (1,962,598 ) $ (7,873,860 ) $ (4,008,549 ) Other income/(expense) Advanced Technologies $ (963,668 ) $ 3,769,515 $ (1,387,920 ) $ 4,136,750 Industrial Services (18,918 ) 735,518 (69,966 ) 710,330 Total other expense $ (982,586 ) $ 4,505,033 $ (1,457,886 ) $ 4,847,080 Depreciation and Amortization Advanced Technologies $ 423,360 $ 89,746 $ 506,970 $ 205,578 Industrial Services 176,490 229,680 355,713 474,426 Total depreciation and amortization $ 599,850 $ 319,426 $ 862,683 $ 680,004 March 31, September 30, 2022 2021 Identifiable Assets Advanced Technologies $ 33,772,905 $ 33,850,496 Industrial Services 17,975,092 19,089,392 Total Assets $ 51,747,997 $ 52,939,888

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2022
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. 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, 2022 and September 30, 2021, are as follows. SCHEDULE OF FAIR VALUE OF ASSETS 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) 2022 Assets Investment in marketable securities (included in short-term investments) $ 4,624,803 $ - $ - $ 4,624,803 $ 4,624,803 $ - $ - $ 4,624,803 Quoted Prices Significant in Active Other Significant Balance Markets for Observable Unobservable as of Identical Assets Inputs Inputs September, 30 (Level 1) (Level 2) (Level 3) 2021 Assets Investment in marketable securities (included in short-term investments) $ 14,981 $ - $ - $ 14,981 Fair value assets $ 14,981 $ - $ - $ 14,981

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
	Mar. 31, 2022
Restricted Cash
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 $ 1,502,490 1,601,932 157,415

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	6 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
ACCOUNTS RECEIVABLE, NET	NOTE 7 – ACCOUNTS RECEIVABLE, NET Accounts receivables, net consist of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET March 31, September 30, 2022 2021 Accounts receivable $ 6,182,721 $ 7,989,888 Allowance for doubtful accounts (177,153 ) (178,992 ) Accounts receivables, net, total $ 6,005,568 $ 7,810,896 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, 2022
Inventory Disclosure [Abstract]
INVENTORY, NET	NOTE 8 – INVENTORY, NET Inventory, net, consist of the following: SCHEDULE OF INVENTORY, NET March 31, September 30, 2022 2021 Raw materials $ 2,414,149 $ 1,957,410 Work in progress 830,950 429,871 Finished goods 5,638,355 5,191,007 Inventory, gross 8,883,454 7,578,288 Less: Allowance for inventory obsolescence (1,816,800 ) (1,921,001 ) Inventory –net of allowance for inventory obsolescence $ 7,066,654 $ 5,657,287

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 9 – PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT March 31, September 30, 2022 2021 Land $ 790,373 $ 790,373 Building and leasehold improvements 2,930,735 2,892,900 Furniture and office equipment 534,185 501,885 Computers and software 1,313,816 1,105,681 Machinery and equipment 12,865,786 12,984,959 Property and equipment, gross 18,434,895 18,275,798 Less: Accumulated depreciation (11,874,649 ) (11,536,854 ) Property and equipment, net $ 6,560,246 $ 6,738,944 Depreciation expense for the three months ended March 31, 2022, and 2021 were $ 599,850 , $ 319,426 , respectively, and for the six months ended March 31, 2022, and 2021 were $ 862,683 , $ 680,004 , respectively.

LEASES

LEASES	6 Months Ended
	Mar. 31, 2022
Leases
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 2 7 Finance and operating lease liabilities consist of the following: SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES March 31, September 30, 2021 2021 Lease liabilities - current Finance leases $ - $ - Operating leases 905,041 830,791 905,041 830,791 Lease liabilities - net of current portion Finance leases $ - $ - Operating leases 2,013,630 2,017,408 $ 2,013,630 $ 2,017,408 A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at March 31, 2022, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO FINANCE AND OPERATING LEASE LIABILITIES Years ending September 30, Finance leases Operating Leases Total 2022 - 604,963 604,963 2023 - 784,504 784,504 2024 - 660,865 660,865 2025 - 638,531 638,531 2026 & Thereafter - 702,252 702,252 Undiscounted lease payments - 3,391,115 3,391,115 Amount representing interest - (472,444 ) (472,444 ) Discounted lease payments $ - $ 2,918,671 $ 2,918,671 Additional disclosures of lease data are set forth below: SCHEDULE OF LEASE COSTS Six months ended March 31, 2022 March 31, 2021 Lease costs: Finance lease costs: Depreciation of finance lease assets $ - $ 5,728 Interest on lease liabilities - 27 Operating lease costs: Amortization of right-of-use assets 338,643 186,777 Interest on lease liabilities 30,720 16,636 Total lease cost $ 369,363 $ 209,168 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 246,715 $ 178,228 Finance leases - 14,306 $ 246,715 $ 192,534 Weighted-average remaining lease term - finance leases (months) 0 7 Weighted-average remaining lease term - operating leases (months) 36 48 Weighted-average discount rate - finance leases N/A 3.63 % Weighted-average discount rate - operating leases 5.66 % 6.64 % 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, 2022
Prepaid And Other Current Assets
PREPAID AND OTHER CURRENT ASSETS	NOTE 11 – PREPAID AND OTHER CURRENT ASSETS On March 31, 2022, the Company had prepaid and other current assets consisting of prepayments on inventory purchases of $ 630,165 , costs and estimated earnings in excess of billings on uncompleted contracts of $ 1,102,347 1,635,131 298,707 1,148,243 1,138,702

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	NOTE 12 – OTHER ASSETS As of March 31, 2022, the Company had other assets of $ 1,280,386 which was comprised of rent security of $ 90,791 , a strategic investment in MasterpieceVR of $ 1,000,000 , and other assets of $ 189,585 . As of September 30, 2021, the Company had other assets of $ 697,240 which was comprised of rent security deposits of $ 84,362 , Investment in Masterpiece VR valued at $ 500,000 , and other assets of $ 112,878 .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 13 – 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 Founder and former CFO, is President, for total consideration of $ 550,000 1,472,514 1,487,155 At March 31, 2022, $500,000 of the balance due is for the sale of Griffin, which was due in February 2021, and the remaining balance are various receivables with various due dates within the next fiscal year. The Company is currently negotiating a payment agreement surrounding all these amounts due On February 23, 2021, Cemtrex’s Board of Directors determined that certain transactions between Cemtrex Inc. and First Commercial, a company owned by former Executive Director, former Controlling Shareholder and former CFO, Aron Govil, were incorrectly handled and accounted for. The total amount of disputed transfers was approximately $ 7,100,000 5,600,000 1,500,000 Upon the Company’s investigation into this matter, the Company has determined that there were inaccuracies in the Company’s financial statements. The financials for the periods 2017 and 2018 were incorrect corresponding to the amounts that were incorrectly accounted for, and subsequent years were affected by the roll forward effects of these entries. The Company found unsupported advertising expenses in the amount of approximately $ 400,000 5,700,000 975,000 7,100,000 On February 26, 2021, the Company entered into a Settlement Agreement and Release with Aron Govil regarding these transactions. As part of the Settlement Agreement, Mr. Govil was required to pay the Company consideration with a total value of $ 7,100,000 1,533,280 In March 2021, Mr. Govil returned to the Company 1,000,000 50,000 469,949 The Company recognized the gain with respect to the surrendered Securities during the second quarter of fiscal year 2021. The gain of $ 3,674,165 As discussed above, Mr. Govil also executed a secured promissory note (the “Note”) in the amount of $ 1,533,280 two years 9

LINES OF CREDIT AND LONG-TERM L

LINES OF CREDIT AND LONG-TERM LIABILITIES	6 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
LINES OF CREDIT AND LONG-TERM LIABILITIES	NOTE 14 – LINES OF CREDIT AND LONG-TERM LIABILITIES Lines of credit The Company currently has a line of credit with Fulton Bank for $ 3,500,000 2.00 2.783 2.075 no Loans payable to bank On December 15, 2015, the Company acquired a loan from Fulton Bank in the amount of $ 5,250,000 5,000,000 2.25 3.033 2.325 December 15, 2022 735,494 1,218,680 On May 1, 2018, the Company acquired a loan from Fulton Bank in the amount of $ 400,000 2.00 2.783 2.075 May 1, 2023 106,799 149,914 On January 28, 2020, the Company acquired a loan from Fulton Bank in the amount of $ 360,000 2.25 3.033 2.325 May 1, 2023 220,630 258,060 Notes payable On September 30, 2020, the Company, issued a note payable to an independent private lender in the amount of $ 4,605,000 . This note carried interest of 8 % and matured on March 30, 2022 . After deduction of an original issue discount of $600,000 and legal fees of $ 5,000 , the Company received $ 4,000,000 in cash. As of March 31, 2022, and September 30, 2021, this note had a balance of $ 0 and $ 2,256,448 , respectively. As of March 31, 2022, and September 31, 2021, this note had unamortized original issue discount balance of $ 0 and $ 200,000 , respectively On September 30, 2021, the Company, issued a note payable to an independent private lender in the amount of $ 5,755,000 . This note carries interest of 8 % and matures on March 30, 2023 . After deduction of an original issue discount of $750,000 and legal fees of $ 5,000 , the Company received $ 5,000,000 in cash. As of March 31, 2022, and September 30, 2021, this note had a balance of $ 5,992,502 and $ 5,005,000 , respectively. As of March 31, 2022, and September 31, 2021, this note had unamortized original issue discount balance of $ 500,000 and $ 750,000 , respectively. On February 22, 2022, the Company, issued a note payable to an independent private lender in the amount of $ 9,205,000 . This note carries interest of 8 % and matures on August 22, 2023 . After deduction of an original issue discount of $1,200,000 and legal fees of $ 5,000 , the Company received $ 8,000,000 in cash. Additionally, the Company issued 1,000,000 shares of its common stock to the lender. The fair market value of the stock of $ 700,400 was recognized as interest expense on the Company’s Condensed Consolidated Statement of Operations and Comprehensive Income/(Loss). As of March 31, 2022, this note had a balance of $ 9,280,989 . As of March 31, 2022, this note had unamortized original issue discount balance of $ 1,066,667 . On March 30, 2022, Vicon, a subsidiary of the Company, amended the $ 5,600,000 500,000 8.85 March 30, 2023 2,954,743 3,604,743 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 $ 3,381,433 905,433 2,476,000 2.50 3.283 2.575 January 28, 2040 2,228,945 2,339,114 Paycheck Protection Program Loans In April and May of 2020, and January and April of 2021, the Company and its subsidiaries applied for and were granted $ 6,413,385 2 6,291,985 121,400 May 5, 2025 18,210

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 15 – STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 10,000,000 0.001 2,029,753 1,935,151 Series 1 Preferred Stock During the six months ended March 31, 2022, 94,602 As of March 31, 2022, and September 30, 2021, there were 1,979,753 1,885,151 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 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 As of March 31, 2022, and September 30, 2021, there were 50,000 Common Stock The Company is authorized to issue 50,000,000 0.001 24,673,210 20,782,194 During the six months ended March 31, 2022, 2,891,016 2,112,500 353,978 821,593 1,000,000

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 16 – SHARE-BASED COMPENSATION For the six months ended March 31, 2022, and 2021, the Company recognized $ 72,417 65,317 174,318 four years

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 17 – COMMITMENTS AND CONTINGENCIES The Company has its corporate headquarters in New York City with a 12-month lease of 2,500 10,000 The Company’s IS segment owns approximately 25,000 43,000 15,500 three 4,555 August 31, 2022 The Company’s AT segment leases (i) approximately 6,700 five year 6,453 456,972 February 28, 2024 30,000 seven 28,719 9,400 fifteen 7,329 5,771 March 24, 2031 terminate in 2026

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 18 – 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. In April and May of 2022, the Company issued an aggregate of 1,590,086 600,000 105,053 On April 7, 2022, 99,369 10 10.00

INTERIM STATEMENT PRESENTATION

INTERIM STATEMENT PRESENTATION (Policies)	6 Months Ended
	Mar. 31, 2022
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, 2021, 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 Technologies Pvt. Ltd., Cemtrex XR Inc., and Advanced Industrial Services, Inc. and the Company’s majority owned subsidiary Vicon Industries, Inc. and its subsidiary, Vicon Industries Ltd. All inter-company balances and transactions have been eliminated in consolidation.
Accounting Pronouncements	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, 2021, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements. Recently Issued Accounting Standards ASU 2016-13 Measurement of Credit Losses on Financial Instrument is effective for fiscal years beginning after December 15, 2022. This is not expected to apply to the Company as financial instruments giving rise to credit risk are not utilized by the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements. The Company does not believe that any other recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	6 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT	SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT 2022 2021 2022 2021 For the three months ended For the six months ended March 31, March 31, 2022 2021 2022 2021 Warrants to purchase shares - 433,965 - 433,965 Options 800,000 880,049 800,000 944,757 Net loss per common share anti-dilutive effect 800,000 880,049 800,000 944,757

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT INFORMATION	The following tables summarize the Company’s segment information: SCHEDULE OF SEGMENT INFORMATION 2022 2021 2022 2021 For the three months ended For the six months ended March 31, March 31, 2022 2021 2022 2021 Revenues from external customers Advanced Technologies $ 7,722,307 $ 5,487,414 $ 13,340,824 $ 10,160,283 Industrial Services $ 5,005,908 3,772,971 10,059,880 7,936,178 Total revenues $ 12,728,215 $ 9,260,385 $ 23,400,704 $ 18,096,461 Gross profit Advanced Technologies $ 2,586,593 $ 2,646,926 $ 5,025,602 $ 4,993,198 Industrial Services 1,466,018 1,281,958 2,896,203 2,941,156 Total gross profit $ 4,052,611 $ 3,928,884 $ 7,921,805 $ 7,934,354 Operating income/(loss) Advanced Technologies $ (4,810,095 ) $ (1,693,377 ) $ (9,826,559 ) $ (3,535,723 ) Industrial Services 990,758 (269,221 ) 1,952,699 (472,826 ) Total operating loss $ (3,819,337 ) $ (1,962,598 ) $ (7,873,860 ) $ (4,008,549 ) Other income/(expense) Advanced Technologies $ (963,668 ) $ 3,769,515 $ (1,387,920 ) $ 4,136,750 Industrial Services (18,918 ) 735,518 (69,966 ) 710,330 Total other expense $ (982,586 ) $ 4,505,033 $ (1,457,886 ) $ 4,847,080 Depreciation and Amortization Advanced Technologies $ 423,360 $ 89,746 $ 506,970 $ 205,578 Industrial Services 176,490 229,680 355,713 474,426 Total depreciation and amortization $ 599,850 $ 319,426 $ 862,683 $ 680,004 March 31, September 30, 2022 2021 Identifiable Assets Advanced Technologies $ 33,772,905 $ 33,850,496 Industrial Services 17,975,092 19,089,392 Total Assets $ 51,747,997 $ 52,939,888

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE OF ASSETS	The Company’s fair value assets at March 31, 2022 and September 30, 2021, are as follows. SCHEDULE OF FAIR VALUE OF ASSETS 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) 2022 Assets Investment in marketable securities (included in short-term investments) $ 4,624,803 $ - $ - $ 4,624,803 $ 4,624,803 $ - $ - $ 4,624,803 Quoted Prices Significant in Active Other Significant Balance Markets for Observable Unobservable as of Identical Assets Inputs Inputs September, 30 (Level 1) (Level 2) (Level 3) 2021 Assets Investment in marketable securities (included in short-term investments) $ 14,981 $ - $ - $ 14,981 Fair value assets $ 14,981 $ - $ - $ 14,981

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	6 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
SCHEDULE OF ACCOUNTS RECEIVABLE, NET	Accounts receivables, net consist of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET March 31, September 30, 2022 2021 Accounts receivable $ 6,182,721 $ 7,989,888 Allowance for doubtful accounts (177,153 ) (178,992 ) Accounts receivables, net, total $ 6,005,568 $ 7,810,896

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	6 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY, NET	Inventory, net, consist of the following: SCHEDULE OF INVENTORY, NET March 31, September 30, 2022 2021 Raw materials $ 2,414,149 $ 1,957,410 Work in progress 830,950 429,871 Finished goods 5,638,355 5,191,007 Inventory, gross 8,883,454 7,578,288 Less: Allowance for inventory obsolescence (1,816,800 ) (1,921,001 ) Inventory –net of allowance for inventory obsolescence $ 7,066,654 $ 5,657,287

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
SUMMARY OF PROPERTY AND EQUIPMENT	Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT March 31, September 30, 2022 2021 Land $ 790,373 $ 790,373 Building and leasehold improvements 2,930,735 2,892,900 Furniture and office equipment 534,185 501,885 Computers and software 1,313,816 1,105,681 Machinery and equipment 12,865,786 12,984,959 Property and equipment, gross 18,434,895 18,275,798 Less: Accumulated depreciation (11,874,649 ) (11,536,854 ) Property and equipment, net $ 6,560,246 $ 6,738,944

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Mar. 31, 2022
Leases
SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES	Finance and operating lease liabilities consist of the following: SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES March 31, September 30, 2021 2021 Lease liabilities - current Finance leases $ - $ - Operating leases 905,041 830,791 905,041 830,791 Lease liabilities - net of current portion Finance leases $ - $ - Operating leases 2,013,630 2,017,408 $ 2,013,630 $ 2,017,408
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, 2022, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO FINANCE AND OPERATING LEASE LIABILITIES Years ending September 30, Finance leases Operating Leases Total 2022 - 604,963 604,963 2023 - 784,504 784,504 2024 - 660,865 660,865 2025 - 638,531 638,531 2026 & Thereafter - 702,252 702,252 Undiscounted lease payments - 3,391,115 3,391,115 Amount representing interest - (472,444 ) (472,444 ) Discounted lease payments $ - $ 2,918,671 $ 2,918,671
SCHEDULE OF LEASE COSTS	Additional disclosures of lease data are set forth below: SCHEDULE OF LEASE COSTS Six months ended March 31, 2022 March 31, 2021 Lease costs: Finance lease costs: Depreciation of finance lease assets $ - $ 5,728 Interest on lease liabilities - 27 Operating lease costs: Amortization of right-of-use assets 338,643 186,777 Interest on lease liabilities 30,720 16,636 Total lease cost $ 369,363 $ 209,168 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating leases $ 246,715 $ 178,228 Finance leases - 14,306 $ 246,715 $ 192,534 Weighted-average remaining lease term - finance leases (months) 0 7 Weighted-average remaining lease term - operating leases (months) 36 48 Weighted-average discount rate - finance leases N/A 3.63 % Weighted-average discount rate - operating leases 5.66 % 6.64 %

ORGANIZATION AND PLAN OF OPER_2

ORGANIZATION AND PLAN OF OPERATIONS (Details Narrative)	Oct. 26, 2022USD ($)	Oct. 26, 2021USD ($)	Oct. 26, 2020USD ($)	Mar. 31, 2022Segment	Jan. 19, 2022USD ($)	May 31, 2021USD ($)	Nov. 13, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Number of reportable segments | Segment				2
Contingent consideration						$ 175,428
MasterpieceVR [Member]
Restructuring Cost and Reserve [Line Items]
Payment for investment					$ 500,000		$ 500,000
Installment One [Member]
Restructuring Cost and Reserve [Line Items]
Debt payable		$ 239,774
Installment Two [Member]
Restructuring Cost and Reserve [Line Items]
Debt payable	$ 200,000
Virtual Driver Interactive [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition			$ 1,339,774
Contingent consideration			175,428
Payments to acquire businesses			900,000
Notes payable issued			$ 439,774
Interest rate			5.00%
Virtual Driver Interactive [Member] | Proprietary Software [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition			$ 876,820
Virtual Driver Interactive [Member] | Inventory [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition			39,992
Virtual Driver Interactive [Member] | Goodwill [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition			$ 598,391

SCHEDULE OF COMPUTATION OF DILU

SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT (Details) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss per common share anti-dilutive effect		433,965		433,965
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss per common share anti-dilutive effect	800,000	880,049	800,000	944,757

SCHEDULE OF SEGMENT INFORMATION

SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 12,728,215	$ 9,260,385	$ 23,400,704	$ 18,096,461
Total gross profit	4,052,611	3,928,884	7,921,805	7,934,354
Total operating loss	(3,819,337)	(1,962,598)	(7,873,860)	(4,008,549)
Total other expense	(982,586)	4,505,033	(1,457,886)	4,847,080
Total depreciation and amortization	599,850	319,426	862,683	680,004
Total Assets	51,747,997		51,747,997		$ 52,939,888
Advanced Technologies [Member]
Segment Reporting Information [Line Items]
Total revenues	7,722,307	5,487,414	13,340,824	10,160,283
Total gross profit	2,586,593	2,646,926	5,025,602	4,993,198
Total operating loss	(4,810,095)	(1,693,377)	(9,826,559)	(3,535,723)
Total other expense	(963,668)	3,769,515	(1,387,920)	4,136,750
Total depreciation and amortization	423,360	89,746	506,970	205,578
Total Assets	33,772,905		33,772,905		33,850,496
Industrial Services [Member]
Segment Reporting Information [Line Items]
Total revenues	5,005,908	3,772,971	10,059,880	7,936,178
Total gross profit	1,466,018	1,281,958	2,896,203	2,941,156
Total operating loss	990,758	(269,221)	1,952,699	(472,826)
Total other expense	(18,918)	735,518	(69,966)	710,330
Total depreciation and amortization	176,490	$ 229,680	355,713	$ 474,426
Total Assets	$ 17,975,092		$ 17,975,092		$ 19,089,392

SEGMENT INFORMATION (Details Na

SEGMENT INFORMATION (Details Narrative)	6 Months Ended
	Mar. 31, 2022Segment
Segment Reporting [Abstract]
Number of reportable segments	2

SCHEDULE OF FAIR VALUE OF ASSET

SCHEDULE OF FAIR VALUE OF ASSETS (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	$ 4,624,803	$ 14,981
Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	4,624,803	14,981
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	4,624,803	14,981
Fair Value, Inputs, Level 1 [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	4,624,803	14,981
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets
Fair Value, Inputs, Level 2 [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets
Fair Value, Inputs, Level 3 [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets

RESTRICTED CASH (Details Narrat

RESTRICTED CASH (Details Narrative) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Restricted Cash
Restricted cash	$ 1,502,490	$ 1,601,932
Standby letter of credit	$ 157,415	$ 157,415

SCHEDULE OF ACCOUNTS RECEIVABLE

SCHEDULE OF ACCOUNTS RECEIVABLE, NET (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Credit Loss [Abstract]
Accounts receivable	$ 6,182,721	$ 7,989,888
Allowance for doubtful accounts	(177,153)	(178,992)
Accounts receivables, net, total	$ 6,005,568	$ 7,810,896

SCHEDULE OF INVENTORY, NET (Det

SCHEDULE OF INVENTORY, NET (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 2,414,149	$ 1,957,410
Work in progress	830,950	429,871
Finished goods	5,638,355	5,191,007
Inventory, gross	8,883,454	7,578,288
Less: Allowance for inventory obsolescence	(1,816,800)	(1,921,001)
Inventory –net of allowance for inventory obsolescence	$ 7,066,654	$ 5,657,287

SUMMARY OF PROPERTY AND EQUIPME

SUMMARY OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 18,434,895	$ 18,275,798
Less: Accumulated depreciation	(11,874,649)	(11,536,854)
Property and equipment, net	6,560,246	6,738,944
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	790,373	790,373
Building and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,930,735	2,892,900
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	534,185	501,885
Computers And Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,313,816	1,105,681
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,865,786	$ 12,984,959

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 599,850	$ 319,426
Depreciation, Depletion and Amortization, Nonproduction	$ 599,850	$ 319,426	$ 862,683	$ 680,004

SUMMARY OF FINANCE AND OPERATIN

SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES (Details) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Leases
Lease liabilities - current, Finance leases
Lease liabilities - current, Operating leases	905,041	830,791
Lease liabilities - current	905,041	830,791
Lease liabilities - net of current portion, Finance leases
Lease liabilities - net of current portion, Operating leases	2,013,630	2,017,408
Lease liabilities - net of current portion	$ 2,013,630	$ 2,017,408

SCHEDULE OF RECONCILIATION OF U

SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO FINANCE AND OPERATING LEASE LIABILITIES (Details)	Mar. 31, 2022USD ($)
Leases
Finance leases, 2022
Operating Leases, 2022	604,963
Total, 2022	604,963
Finance leases, 2023
Operating Leases, 2023	784,504
Total, 2023	784,504
Finance leases, 2024
Operating Leases, 2024	660,865
Total, 2024	660,865
Finance leases, 2025
Operating Leases, 2025	638,531
Total, 2025	638,531
Finance leases, 2026 & Thereafter
Operating Leases, 2026 & Thereafter	702,252
Total, 2026 & Thereafter	702,252
Finance leases, Undiscounted lease payments
Operating Leases, Undiscounted lease payments	3,391,115
Total, Undiscounted lease payments	3,391,115
Finance leases, Amount representing interest
Operating Leases, Amount representing interest	(472,444)
Total, Amount representing interest	(472,444)
Finance leases, Discounted lease payments
Operating Leases, Discounted lease payments	2,918,671
Total, Discounted lease payments	$ 2,918,671

SCHEDULE OF LEASE COSTS (Detail

SCHEDULE OF LEASE COSTS (Details) - USD ($)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases
Finance lease costs: Depreciation of finance lease assets		$ 5,728
Finance lease costs: Interest on lease liabilities		27
Operating lease costs: Amortization of right-of-use assets	338,643	186,777
Operating lease costs: Interest on lease liabilities	30,720	16,636
Total lease cost	369,363	209,168
Cash paid for amounts included in the measurement of lease liabilities: Operating leases	246,715	178,228
Cash paid for amounts included in the measurement of lease liabilities: Finance leases		14,306
Cash paid for amounts included in the measurement of lease liabilities: Total	$ 246,715	$ 192,534
Weighted-average remaining lease term - finance leases (months)	0 months	7 months
Weighted-average remaining lease term - operating leases (months)	36 months	48 months
Weighted-average discount rate - finance leases		3.63%
Weighted-average discount rate - operating leases	5.66%	6.64%

LEASES (Details Narrative)

LEASES (Details Narrative)	6 Months Ended
	Mar. 31, 2022
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	7 years
Industrial Services [Member]
Finance lease term	3 years

PREPAID AND OTHER CURRENT ASS_2

PREPAID AND OTHER CURRENT ASSETS (Details Narrative) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Prepaid And Other Current Assets
Prepaid Supplies	$ 630,165	$ 298,707
Cost in excess of billings on uncompleted contracts	1,102,347	1,148,243
Other Assets, Current	$ 1,635,131	$ 1,138,702

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative) - USD ($)	Mar. 31, 2022	Sep. 30, 2021
Net Investment Income [Line Items]
Other Assets	$ 1,280,386	$ 697,240
Rent security deposits	90,791	84,362
[custom:OtherAssetsExcludingRentAndInvestment-0]	189,585	112,878
MasterpieceVR [Member]
Net Investment Income [Line Items]
Other Investments	$ 1,000,000	$ 500,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Mar. 31, 2021	Feb. 23, 2021	Aug. 31, 2019	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2021	Feb. 26, 2021
Related Party Transaction [Line Items]
Receivables				$ 1,472,514		$ 1,472,514				$ 1,487,155
Research and development expenses				1,114,715	$ 641,497	2,426,428	$ 1,275,722
Incorrectly Handled and Accounted [Member]
Related Party Transaction [Line Items]
Advertising expense								$ 400,000
Intangible assets								5,700,000
Research and development expenses								975,000
Unsubstantiated transfers and advertising expense								7,100,000
Disputes [Member] | Incorrectly Handled and Accounted [Member]
Related Party Transaction [Line Items]
Dispute amount		$ 7,100,000						$ 1,500,000	$ 5,600,000
Ducon Technologies Inc [Member]
Related Party Transaction [Line Items]
Receivables				$ 1,472,514		$ 1,472,514				$ 1,487,155
Griffin Filters LLC [Member]
Related Party Transaction [Line Items]
Related party transaction description						At March 31, 2022, $500,000 of the balance due is for the sale of Griffin, which was due in February 2021, and the remaining balance are various receivables with various due dates within the next fiscal year. The Company is currently negotiating a payment agreement surrounding all these amounts due
Asset Purchase Agreement [Member] | Griffin Filters LLC [Member] | Ducon Technologies Inc [Member] | Aron Govil [Member]
Related Party Transaction [Line Items]
Total consideration			$ 550,000
Settlement Agreement [Member] | Aron Govil [Member]
Related Party Transaction [Line Items]
Due from related parties											$ 7,100,000
Secured debt											$ 1,533,280
Gain on surrendered securities					3,674,165
Settlement Agreement [Member] | Aron Govil [Member] | Secured Promissory Note [Member]
Related Party Transaction [Line Items]
Debt instrument, principal amount	$ 1,533,280				$ 1,533,280		$ 1,533,280
Debt instrument term	2 years
Debt interest rate	9.00%				9.00%		9.00%
Settlement Agreement [Member] | Aron Govil [Member] | Series A Preferred Stock [Member]
Related Party Transaction [Line Items]
Stock repurchased during the period	1,000,000
Settlement Agreement [Member] | Aron Govil [Member] | Series C Preferred Stock [Member]
Related Party Transaction [Line Items]
Stock repurchased during the period	50,000
Settlement Agreement [Member] | Aron Govil [Member] | Series 1 Preferred Stock [Member]
Related Party Transaction [Line Items]
Stock repurchased during the period	469,949

LINES OF CREDIT AND LONG-TERM_2

LINES OF CREDIT AND LONG-TERM LIABILITIES (Details Narrative) - USD ($)	Mar. 30, 2022	Feb. 22, 2022	Sep. 30, 2021	Sep. 30, 2020	Jan. 28, 2020	May 01, 2018	Dec. 15, 2015	Mar. 31, 2022	Mar. 31, 2021	Apr. 30, 2021
Debt Instrument [Line Items]
Proceeds from notes payable								$ 8,000,000
Repayments of notes payable								901,763	$ 2,070,257
Mortgage loan			$ 9,731,810					8,046,336
Short-term debt			$ 9,977,972					$ 15,720,515
Advanced Industrial Services, Inc [Member]
Debt Instrument [Line Items]
Interest rate			2.575%					3.283%
Maturity date					Jan. 28, 2040
Outstanding balance			$ 2,339,114					$ 2,228,945
Purchase price of building					$ 3,381,433
Cash paid for acquisition of building					905,433
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Interest rate	8.85%
Maturity date	Mar. 30, 2023
Notes Payable	$ 5,600,000		3,604,743					$ 2,954,743
Repayments of notes payable	$ 500,000
Paycheck Protection Program [Member]
Debt Instrument [Line Items]
Interest rate										2.00%
Maturity date								May 5, 2025
Loan granted on Paycheck Protection loans										$ 6,413,385
Loan forgiveness								$ 6,291,985
Loans outstanding								121,400
Short-term debt								18,210
Independent Third-party [Member]
Debt Instrument [Line Items]
Interest rate				8.00%
Maturity date				Mar. 30, 2022
Debt Instrument, Unamortized Discount			200,000	$ 600,000				0
Legal Fees				5,000
Proceeds from notes payable				4,000,000
Notes Payable			$ 2,256,448					0
Independent Third-party [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 4,605,000
Independent Third Party Two [Member]
Debt Instrument [Line Items]
Interest rate			8.00%
Maturity date			Mar. 30, 2023
Debt Instrument, Unamortized Discount		$ 1,200,000	$ 750,000					500,000
Legal Fees		$ 5,000	5,000
Proceeds from notes payable			5,000,000
Notes Payable			5,005,000					5,992,502
Independent Third Party Two [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 5,755,000
Independent Third Party Three [Member]
Debt Instrument [Line Items]
Interest rate		8.00%
Maturity date		Aug. 22, 2023
Debt Instrument, Unamortized Discount								1,066,667
Proceeds from notes payable		$ 8,000,000
Notes Payable								$ 9,280,989
Stock Issued During Period, Shares, New Issues		1,000,000
Stock Issued During Period, Value, New Issues		$ 700,400
Independent Third Party Three [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 9,205,000
Advanced Industrial Services, Inc [Member]
Debt Instrument [Line Items]
Proceeds from loan used for acquisition							$ 5,000,000
Interest rate			2.325%					3.033%
Maturity date							Dec. 15, 2022
Outstanding balance			$ 1,218,680					$ 735,494
New Advanced Industrial Services Inc [Member]
Debt Instrument [Line Items]
Interest rate								2.783%
Fulton Bank [Member] | Advanced Industrial Services, Inc [Member]
Debt Instrument [Line Items]
Mortgage loan					$ 2,476,000
London Interbank Offered Rate (LIBOR) [Member] | Advanced Industrial Services, Inc [Member]
Debt Instrument [Line Items]
Interest rate					2.50%
London Interbank Offered Rate (LIBOR) [Member] | Advanced Industrial Services, Inc [Member]
Debt Instrument [Line Items]
Variable rate							2.25%
London Interbank Offered Rate (LIBOR) [Member] | New Advanced Industrial Services Inc [Member]
Debt Instrument [Line Items]
Variable rate						2.00%
Fulton Bank [Member]
Debt Instrument [Line Items]
Line of credit			$ 0				$ 3,500,000	$ 0
Loans payable to bank							$ 5,250,000
Fulton Bank [Member] | Notes Payable Due On May 1, 2023 [Member]
Debt Instrument [Line Items]
Loans payable to bank					$ 360,000
Interest rate			2.325%					3.033%
Maturity date					May 1, 2023
Outstanding balance			$ 258,060					$ 220,630
Fulton Bank [Member] | New Advanced Industrial Services Inc [Member]
Debt Instrument [Line Items]
Proceeds from loan used for acquisition						$ 400,000
Interest rate			2.075%
Maturity date						May 1, 2023
Outstanding balance			$ 149,914					$ 106,799
Fulton Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Line of credit interest rate			2.075%				2.00%	2.783%
Fulton Bank [Member] | London Interbank Offered Rate (LIBOR) [Member] | Notes Payable Due On May 1, 2023 [Member]
Debt Instrument [Line Items]
Variable rate					2.25%

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	Feb. 22, 2022	Oct. 03, 2019	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized			10,000,000		10,000,000		10,000,000
Preferred stock, par value			$ 0.001		$ 0.001		$ 0.001
Preferred stock, shares issued			2,029,753		2,029,753		1,935,151
Preferred stock, shares outstanding			2,029,753		2,029,753		1,935,151
Common stock, shares authorized			50,000,000		50,000,000		50,000,000
Common stock, par value			$ 0.001		$ 0.001		$ 0.001
Common stock, shares issued			24,673,210		24,673,210		20,782,194
Common stock, shares outstanding			24,673,210		24,673,210		20,782,194
Accrued interest on notes payable					$ 329,264	$ 41,833
Interest expense			$ 1,317,517	$ 849,076	$ 2,722,986	$ 1,458,017
Notes Payable [Member]
Class of Stock [Line Items]
Shares of common stock issued	1,000,000				2,891,016
Interest payable			$ 2,112,500		$ 2,112,500
Accrued interest on notes payable					353,978
Interest expense					$ 821,593
Series 1 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			3,000,000		3,000,000		3,000,000
Preferred stock, shares issued			1,979,753		1,979,753		1,885,151
Preferred stock, shares outstanding			1,979,753		1,979,753		1,885,151
Stock dividends, shares					94,602
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		100,000	100,000		100,000		100,000
Preferred stock, par value		$ 0.001
Preferred stock, shares issued			50,000		50,000		50,000
Preferred stock, shares outstanding			50,000		50,000		50,000
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

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 72,417	$ 65,317
Unrecognized share-based compensation expense	$ 174,318
Recognition period	4 years

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - 6 months ended Mar. 31, 2022	USD ($)ft²	INR (₨)ft²	GBP (£)ft²
Product Liability Contingency [Line Items]
Area of land	2,500	2,500	2,500
Rent expense per month | $	$ 10,000
Termination year	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 [Member]
Product Liability Contingency [Line Items]
Area of land	25,000	25,000	25,000
IS Segment [Member] | York [Member]
Product Liability Contingency [Line Items]
Area of land	43,000	43,000	43,000
IS Segment [Member] | Emigsville [Member]
Product Liability Contingency [Line Items]
Area of land	15,500	15,500	15,500
Rent expense per month | $	$ 4,555
Lease term	3 years	3 years	3 years
Lease expiration date	Aug. 31, 2022	Aug. 31, 2022	Aug. 31, 2022
Advanced Technologies [Member]
Product Liability Contingency [Line Items]
Lease expiration date	Mar. 24, 2031	Mar. 24, 2031	Mar. 24, 2031
Advanced Technologies [Member] | Pune [Member]
Product Liability Contingency [Line Items]
Area of land	6,700	6,700	6,700
Rent expense per month	$ 6,453	₨ 456,972
Lease term	5 years	5 years	5 years
Lease expiration date	Feb. 28, 2024	Feb. 28, 2024	Feb. 28, 2024
Advanced Technologies [Member] | Hauppauge [Member]
Product Liability Contingency [Line Items]
Area of land	30,000	30,000	30,000
Rent expense per month | $	$ 28,719
Lease term	7 years	7 years	7 years
Advanced Technologies [Member] | Hampshire [Member]
Product Liability Contingency [Line Items]
Area of land	9,400	9,400	9,400
Rent expense per month	$ 7,329		£ 5,771
Lease term	15 years	15 years	15 years
Termination year	terminate in 2026	terminate in 2026	terminate in 2026

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Apr. 07, 2022	Feb. 22, 2022	May 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Subsequent Event [Line Items]
Settlement of notes payable						$ 901,763	$ 2,070,257
Interest expense				$ 1,317,517	$ 849,076	$ 2,722,986	$ 1,458,017
Series 1 Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued to pay dividends						94,602
Preference amount per share				$ 10		$ 10		$ 10
Notes Payable [Member]
Subsequent Event [Line Items]
Common stock issued to settle notes payable		1,000,000				2,891,016
Interest expense						$ 821,593
Subsequent Event [Member] | Series 1 Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued to pay dividends	99,369
Dividend rate	10.00%
Preference amount per share	$ 10
Subsequent Event [Member] | Notes Payable [Member]
Subsequent Event [Line Items]
Common stock issued to settle notes payable			1,590,086
Settlement of notes payable			$ 600,000
Interest expense			$ 105,053