Cemtrex (CETX) 10-Q 13 Feb 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2023	Feb. 09, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
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	135 Fell Ct
Entity Address, City or Town	Hauppauge
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11788
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		1,055,636
Common Stock [Member]
Title of 12(b) Security	Common Stock
Trading Symbol	CETX
Security Exchange Name	NASDAQ
Series 1 Preferred Stock
Title of 12(b) Security	Series 1 Preferred Stock
Trading Symbol	CETXP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 2,835,216	$ 5,329,910
Restricted cash	1,181,516	1,019,652
Short-term investments	13,307	13,663
Inventory, net	7,938,617	8,739,219
Contract assets, net	1,694,135	1,739,201
Prepaid expenses and other current assets	1,347,298	2,098,359
Total current assets	26,411,336	29,293,041
Property and equipment, net	9,170,376	9,218,701
Right-of-use operating lease assets	2,094,342	2,287,623
Goodwill	4,381,891	4,381,891
Other	1,990,601	1,836,009
Total Assets	45,298,305	48,453,743
Current liabilities
Sales tax payable	10,713	35,829
Revolving line of credit	3,357,324
Current maturities of long-term liabilities	15,717,081	14,507,711
Operating lease liabilities - short-term	728,875	741,487
Deposits from customers	83,613	57,434
Accrued expenses	1,842,692	2,784,390
Contract liabilities	988,725	980,319
Deferred revenue	1,562,107	1,583,406
Accrued income taxes	212,249	388,627
Total current liabilities	28,696,123	27,344,118
Long-term liabilities
Loans payable to bank	1,852,620	1,909,739
Long-term operating lease liabilities	1,426,684	1,607,202
Notes payable	1,600,000	4,679,743
Mortgage payable	3,267,355	3,289,303
Other long-term liabilities	405,624	501,354
Paycheck Protection Program Loans	40,443	50,563
Deferred Revenue - long-term	694,245	727,928
Total long-term liabilities	9,286,971	12,765,832
Total liabilities	37,983,094	40,109,950
Commitments and contingencies
Stockholders’ equity
Common stock, $0.001 par value, 50,000,000 shares authorized, 1,055,636 shares issued and outstanding at December 31, 2023 and 1,045,783 shares issued and outstanding at September 30, 2023	1,056	1,046
Additional paid-in capital	68,929,137	68,881,705
Accumulated deficit	(65,333,389)	(64,125,895)
Treasury stock, 64,100 shares of Series 1 Preferred Stock at December 31, 2023 and September 30, 2023	(148,291)	(148,291)
Accumulated other comprehensive income	3,304,470	3,076,706
Total Cemtrex stockholders’ equity	6,755,441	7,687,614
Non-controlling interest	559,770	656,179
Total liabilities and stockholders’ equity	45,298,305	48,453,743
Series 1 Preferred Stock [Member]
Stockholders’ equity
Preferred stock, value	2,408	2,293
Series C Preferred Stock [Member]
Stockholders’ equity
Preferred stock, value	50	50
Nonrelated Party [Member]
Current assets
Trade receivables, net	9,904,555	9,209,695
Current liabilities
Accounts payable	4,124,014	6,196,406
Related Party [Member]
Current assets
Trade receivables, net	1,496,692	1,143,342
Royalties receivable, net- related party	488,174	674,893
Note receivable, net - related party	761,585	761,585
Current liabilities
Accounts payable	$ 68,730	$ 68,509

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	2,458,053	2,343,016
Preferred stock, shares outstanding	2,393,953	2,278,916
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Outstanding	1,055,636	1,045,783
Treasury stock, shares authorized	64,100	64,100
Series 1 Preferred Stock [Member]
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	2,408,053	2,293,016
Preferred stock, shares outstanding	2,343,953	2,228,916
Preferred stock, liquidation value per share	$ 10	$ 10
Series C Preferred Stock [Member]
Preferred stock, shares authorized	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 (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenues	$ 16,878,166	$ 11,970,242
Cost of revenues	9,795,767	6,927,627
Gross profit	7,082,399	5,042,615
Operating expenses
General and administrative	6,971,966	5,455,833
Research and development	848,805	1,538,218
Total operating expenses	7,820,771	6,994,051
Operating loss	(738,372)	(1,951,436)
Other (expense)/income
Other income/(expense), net	78,411	(17,083)
Interest expense	(583,683)	(1,128,234)
Total other (expense)/income, net	(505,272)	(1,145,317)
Net loss before income taxes	(1,243,644)	(3,096,753)
Income tax expense	(70,751)
Loss from Continuing operations	(1,314,395)	(3,096,753)
Income/(loss) from discontinued operations, net of tax	10,492	(3,239,621)
Net loss	(1,303,903)	(6,336,374)
Less loss in noncontrolling interest	(96,409)	(59,163)
Net loss attributable to Cemtrex, Inc. stockholders	$ (1,207,494)	$ (6,277,211)
Income/(loss) per share - Basic & Diluted
Continuing Operations Income Loss per share - Basic	$ (1.16)	$ (3.99)
Continuing Operations Income Loss per share - Diluted	(1.16)	(3.99)
Discontinued Operations Income Loss per share - Basic	0.01	(4.25)
Discontinued Operations Income Loss per share - Diluted	$ 0.01	$ (4.25)
Weighted Average Number of Shares - Basic	1,047,624	761,571
Weighted Average Number of Shares - Diluted	1,047,624	761,571

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other comprehensive loss
Net loss	$ (1,303,903)	$ (6,336,374)
Foreign currency translation gain	227,764	223,569
Comprehensive loss	(1,076,139)	(6,112,805)
Less comprehensive income attributable to noncontrolling interest	(96,409)	(59,163)
Comprehensive loss attributable to Cemtrex, Inc. stockholders	$ (979,730)	$ (6,053,642)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock [Member] Series 1 Preferred Stock [Member]	Preferred Stock [Member] Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Preferred [Member]	AOCI Attributable to Parent [Member]	Total	Noncontrolling Interest [Member]
Balance at Sep. 30, 2022	$ 2,079	$ 50	$ 755	$ 66,641,696	$ (54,929,020)	$ (148,291)	$ 2,377,525	$ 13,944,794	$ 692,742
Balance, shares at Sep. 30, 2022	2,079,122	50,000	754,711
Foreign currency translation gain							223,569	223,569
Share-based compensation				39,842				39,842
Dividends paid in Series 1 preferred shares	$ 104			(104)
Dividends paid in Series 1 preferred shares, shares	104,341
Income/(loss) attributable to noncontrolling interest									(59,163)
Net loss					(6,277,211)			(6,277,211)
Shares issued to pay notes payable			$ 39	232,106				232,145
Shares issued to pay notes payable, shares			39,016
Balance at Dec. 31, 2022	$ 2,183	$ 50	$ 794	66,913,540	(61,206,231)	(148,291)	2,601,094	8,163,139	633,579
Balance, shares at Dec. 31, 2022	2,183,463	50,000	793,727
Balance at Sep. 30, 2023	$ 2,293	$ 50	$ 1,046	68,881,705	(64,125,895)	(148,291)	3,076,706	7,687,614	656,179
Balance, shares at Sep. 30, 2023	2,293,016	50,000	1,045,783
Foreign currency translation gain							227,764	227,764
Share-based compensation				7,557				7,557
Dividends paid in Series 1 preferred shares	$ 115			(115)
Dividends paid in Series 1 preferred shares, shares	115,037
Income/(loss) attributable to noncontrolling interest									(96,409)
Shares issued to pay for services			$ 10	39,990				$ 40,000
Shares issued to pay for services, shares			9,853					9,853
Net loss					(1,207,494)			$ (1,207,494)
Balance at Dec. 31, 2023	$ 2,408	$ 50	$ 1,056	$ 68,929,137	$ (65,333,389)	$ (148,291)	$ 3,304,470	$ 6,755,441	$ 559,770
Balance, shares at Dec. 31, 2023	2,408,053	50,000	1,055,636

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (1,303,903)	$ (6,336,374)
Adjustments to reconcile net loss to net cash used by operating activities
Depreciation and amortization	368,301	530,830
Gain on disposal of property and equipment		(3,547)
Noncash lease expense	193,281	197,198
Bad debt expense	11,964	4,510
Share-based compensation	7,557	39,842
Income tax expense	70,751
Interest expense paid in equity shares		32,145
Accounts payable paid in equity shares	40,000
Accrued interest on notes payable	327,132	528,100
Non-cash royalty income	(13,282)
Amortization of original issue discounts on notes payable		441,734
Amortization of loan origination costs	18,133
Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:
Trade receivables	(696,824)	(1,541,371)
Trade receivables - related party	(163,349)	(383,710)
Inventory	800,602	(116,942)
Contract assets	45,066	(260,647)
Prepaid expenses and other current assets	636,906	(410,327)
Other assets	(54,592)	(146,356)
Accounts payable	(2,072,392)	(327,945)
Accounts payable - related party	221	(99)
Sales tax payable	(25,116)	(2,387)
Operating lease liabilities	(193,130)	(132,963)
Deposits from customers	26,179	416,523
Accrued expenses	(941,698)	977,328
Contract liabilities	8,406	1,037,897
Deferred revenue	(54,982)	(95,395)
Income taxes payable	(78,574)	(94,848)
Other liabilities	(95,730)	(225,506)
Net cash used by operating activities - continuing operations	(3,139,073)	(5,872,310)
Net cash provided by operating activities - discontinued operations		2,501,426
Net cash used by operating activities	(3,139,073)	(3,370,884)
Cash Flows from Investing Activities
Purchase of property and equipment	(290,666)	(571,658)
Proceeds from sale of property and equipment		3,547
Proceeds from sale of marketable securities	356
Investment in MasterpieceVR	(100,000)
Net cash used by by investing activities - continuing operations	(390,310)	(568,111)
Net cash provided by investing activities - discontinued operations		207,329
Net cash used by investing activities	(390,310)	(360,782)
Cash Flows from Financing Activities
Proceeds on revolving line of credit	11,655,935
Payments on revolving line of credit	(8,371,144)
Payments on debt	(2,204,743)	(294,370)
Payments on Paycheck Protection Program Loans	(10,120)
Proceeds on bank loans	28,331
Payments on bank loans	(100,160)	(306,550)
Net cash provided by/(used by) financing activities	998,099	(600,920)
Effect of currency translation	198,454	229,243
Net decrease in cash, cash equivalents, and restricted cash	(2,531,284)	(4,332,586)
Less cash attributed to discontinued operations		(714,420)
Cash, cash equivalents, and restricted cash at beginning of period	6,349,562	12,188,096
Cash, cash equivalents, and restricted cash at end of period	4,016,732	7,370,333
Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash
Cash and cash equivalents	2,835,216	5,768,610
Restricted cash	1,181,516	1,601,723
Total cash, cash equivalents, and restricted cash	4,016,732	7,370,333
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	238,418	126,255
Cash paid during the period for income taxes, net of refunds	176,378	94,848
Supplemental Schedule of Non-Cash Investing and Financing Activities
Shares issued to pay for services	40,000
Shares issued to pay notes payable		232,145
Financing of fixed asset purchase	28,331
Investment in right of use asset		$ 76,506

ORGANIZATION AND PLAN OF OPERAT

ORGANIZATION AND PLAN OF OPERATIONS	3 Months Ended
	Dec. 31, 2023
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 company. 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’s reporting segments consist of Security and Industrial Services. Security Cemtrex’s Security segment operates under the brand of its majority owned subsidiary, Vicon Industries, Inc. (“Vicon”), 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 analytics-based 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 innovative, mission critical security and video surveillance solutions utilizing Artificial Intelligence (AI) based data algorithms. Industrial Services Cemtrex’s Industrial Services segment operates under the brand, Advanced Industrial Services (“AIS”), which offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. AIS installs high precision equipment in a wide variety of industrial markets like automotive, printing & graphics, industrial automation, packaging, and chemicals, among others. AIS is a leading provider of reliability-driven maintenance and contracting solutions for 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 Heisey Mechanical On July 1, 2023, the Company under AIS, completed the acquisition of a leading service contractor and steel fabricator that specializes in industrial and water treatment markets, Heisey Mechanical, Ltd. (“Heisey”) based in Columbia, Pennsylvania for $ 2,400,000 393,291 1,500,000 Heisey provides the water treatment industry with a variety of fabricated vessels and equipment including ASME pressure vessels, heat exchangers, mix tanks, reactors, and other specialized fabricated equipment. Additionally, the contracting team assists with installation and service of fabricated items. The company has over 33,000 The purchase price allocation presented below is still preliminary but has been developed based on an estimate of fair values of Heisey’s identifiable tangible and intangible assets acquired and liabilities assumed as of July 1, 2023. The final allocation of the purchase price will be determined within one year from the closing date of the Heisey acquisition. The consideration transferred and preliminary allocation of Heisey’s tangible and intangible assets and liabilities, are as follows: SCHEDULE OF BUSINESS ACQUISITION OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES Consideration Transferred: Cash $ 393,291 Seller’s note 240,000 Financed amount 2,160,000 Total consideration transferred $ 2,793,291 Purchase Price Allocation: Inventory 300,000 Contract assets 667,259 Machinery and equipment 1,625,000 Contract liabilities (216,469 ) Accrued expenses (57,499 ) Goodwill 475,000 Total consideration transferred $ 2,793,291 The pro forma summary below presents the results of operations as if the Heisey acquisition occurred on October 1, 2022. Proforma adjustments for the three months ended December 31, 2022, includes $ 63,900 33,400 SCHEDULE OF PRO FORMA FINANCIAL INFORMATION Unaudited for the three months ended December 31, 2022 Revenues $ 13,173,838 Net loss (6,440,203 ) On August 30, 2023, the Company acquired a mortgage in the amount of $ 1,200,000 2.8 September 30, 2043 Nasdaq Notices for Listing Deficiencies On July 29, 2022, 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 Series 1 preferred stock listed on Nasdaq was below $ 1.00 1.00 Subsequent to the balance sheet date, the Company has bought back 71,951 69,705 Going Concern Considerations The accompanying condensed consolidated financial statements of the Company have been prepared assuming the Company will continue as a going concern and in accordance with generally accepted accounting principles in the United States of America. The going concern basis of presentation assumes that the Company will continue in operation one year after the date these financial statements are issued and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Pursuant to the requirements of the ASC 205, management must evaluate whether there are conditions or events, considered in the aggregate, which raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date these financial statements are issued. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Company has incurred substantial losses of $ 9,196,875 13,020,958 1,314,395 28,696,123 2,284,787 While our working capital deficit and current debt indicate a substantial doubt regarding the Company’s ability to continue as a going concern, the Company has historically, from time to time, satisfied and may continue to satisfy certain short-term liabilities through the issuance of common stock, thus reducing our cash requirement to meet our operating needs. The Company has approximately $ 2.84 1,642,676 35:1 reverse stock split The condensed consolidated financial statements do not include any adjustments relating to this uncertainty.

INTERIM STATEMENT PRESENTATION

INTERIM STATEMENT PRESENTATION	3 Months Ended
	Dec. 31, 2023
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, 2023, 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. Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. 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, 2023, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Update 2016-13”). Update 2016-13 replaced the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (“CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including but not limited to trade receivables. For public business entities, the new standard became effective for annual reporting periods beginning after December 15, 2022, including interim periods within that reporting period. On October 1, 2023, the Company implemented this standard and there has been no material change to the financial statements. The Company estimates credit losses associated with our accounts receivable portfolio segment using an expected credit loss model, which utilizes an aging schedule methodology based on historical information and adjusted for asset-specific considerations, current economic conditions and reasonable and supportable forecasts. The Company will utilize the Probability-of-default method for financing receivables and loans. Expected credit losses are determined by multiplying the probability of default (i.e., the probability the asset will default within the given time frame) by the loss given default (the percentage of the asset not expected to be collected because of default). The Company considers sources of repayment associated with a financial asset when determining its credit losses, including collection against the collateral and certain embedded credit enhancements, such as guarantees or insurance. The allowance for credit losses were immaterial as of December 31, 2023. Recently Issued Accounting Pronouncements Not Yet Effective On June 30, 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which (1) clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and (2) requires specific disclosures related to such an equity security. Under current guidance, stakeholders have observed diversity in practice related to whether contractual sale restrictions should be considered in the measurement of the fair value of equity securities that are subject to such restrictions. On the basis of interpretations of existing guidance and the current illustrative example in ASC 820-10-55-52 of a restriction on the sale of an equity instrument, some entities use a discount for contractual sale restrictions when measuring fair value, while others view the application of such a discount to be inconsistent with the principles of ASC 820. To reduce the diversity in practice and increase the comparability of reported financial information, ASU 2022-03 clarifies this guidance and amends the illustrative example. ASU No. 2022-03 is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact of this ASU on our financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which enhances the disclosures required for operating segments in the Company’s annual and interim consolidated financial statements. ASU 2023-07 is effective for the Company for annual reporting for fiscal 2025 and for interim period reporting beginning in fiscal 2026 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of our pending adoption of ASU 2023-07 on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose consistent categories and greater disaggregation of information in the rate reconciliation and for income taxes paid. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard prospectively in fiscal year 2026 for the annual reporting period ending September 30, 2026. The Company is currently in the process of evaluating the impact of adoption on its Consolidated 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 condensed consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 3 – DISCONTINUED OPERATIONS On November 22, 2022, the Company entered into two Asset Purchase Agreements and one Simple Agreement for Future Equity (“SAFE”) with the Company’s CEO, Saagar Govil, to secure the sale of the subsidiaries Cemtrex Advanced Technologies, Inc, which include the brand SmartDesk, and Cemtrex XR, Inc., which include the brands Cemtrex XR, Virtual Driver Interactive, Bravo Strong, and good tech (formerly Cemtrex Labs), to Mr. Govil. Due to the on-going losses and risk associated with the SmartDesk business the Company has valued the royalty and SAFE agreement associated with the SmartDesk sale at $ 0 Based on sales projections for Cemtrex XR, Inc., the Company does not believe that it will exceed the sales levels required to exceed the $ 820,000 ASC 310 – Receivables, 13,282 4,427 The following table summarizes the loss on the sale recorded during the three months ended December 31, 2022, included in Income/(loss) from discontinued operations, net of tax in the accompanying condensed consolidated statement of Operations: SUMMARY OF LOSS ON SALE Purchase Price $ 745,621 Less cash and cash equivalents transferred (699,423 ) Less liabilities assumed (10,924 ) Net purchase price $ 35,274 Assets Sold Accounts receivable, net $ 625,638 Inventory, net 980,730 Prepaid expenses and other assets 502,577 Property and equipment, net 837,808 Goodwill 598,392 Total Assets Sold 3,545,145 Liabilities Transferred Accounts payable 370,774 Short-term liabilities 364,775 Long-term liabilities 318,981 Total Liabilities Transferred 1,054,530 Net assets sold $ 2,490,615 Pretax loss on sale of Cemtrex Advanced Technologies, Inc, and Cemtrex XR, Inc.Companies $ (2,455,341 ) As of December 31, 2023, and September 30, 2023, there were no assets or liabilities included within discontinued operations on the Company’s Condensed Consolidated Balance Sheets. During the first quarter of fiscal 2023, Vicon completed the closure of its discontinued operating entity Vicon Systems, Ltd. located in Israel. The Company received funds related to benefit obligations of $ 96,095 7,010 89,085 Income/(loss) from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of Cemtrex Advanced Technologies, Inc. and Cemtrex XR, Inc., sold during the first quarter of fiscal year 2023, which are presented in total as discontinued operations, net of tax in the Company’s Condensed Consolidated Statements of Operations for the three month periods ended December 31, 2023 and 2022, are as follows: SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS 2023 2022 For the three months ended December 31, 2023 2022 Total net sales $ - $ 649,061 Cost of sales - 228,086 Operating, selling, general and administrative expenses - 1,295,572 Other (income)/expenses - 3,195 Income (loss) from discontinued operations - (877,792 ) Amortization of discounted royalties 13,282 4,427 Loss on sale of discontinued operations - (2,455,341 ) Adjustment of benefit obligation - 89,085 Income tax provision 2,790 - Discontinued operations, net of tax $ 10,492 $ (3,239,621 )

REVENUE

REVENUE	3 Months Ended
	Dec. 31, 2023
Revenue
REVENUE	NOTE 4 – REVENUE The following table illustrates the approximate disaggregation of the Company’s revenue based off timing of revenue recognition for the three months ended December 31, 2023 and 2022: SCHEDULE OF DISAGGREGATION OF REVENUE RECOGNITION For the three months ended December 31, 2023 December 31, 2022 Over time 52 % 51 % Point-in-time 48 % 49 %

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
LOSS PER COMMON SHARE	NOTE 5 – 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 December 31, 2023, and 2022, 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 2023 2022 For the three months ended December 31, 2023 2022 Options 28,796 34,579 For the three months ended December 31, 2023 and 2022, loss per share basic and diluted for continuing operations are calculated as follows: SCHEDULE OF LOSS PER SHARE BASIC AND DILUTED FOR CONTINUING OPERATION 2023 2022 For the three months December 31, 2023 2022 Loss from Continuing operations $ (1,314,395 ) $ (3,096,753 ) Less loss in noncontrolling interest (96,409 ) (59,163 ) Preferred stock dividends - - Net loss applicable to common shareholders (1,217,986 ) (3,037,590 ) Weighted Average Number of Shares-Basic & Diluted 1,047,624 761,571 Loss per share - Basic & Diluted - Continuing Operations $ (1.16 ) $ (3.99 )

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 6 – SEGMENT INFORMATION The Company reports and evaluates financial information for two reportable segments: the Security segment and the Industrial Services segment. The following tables summarize the Company’s reportable segment information and corporate expenses: SCHEDULE OF SEGMENT INFORMATION Security Industrial Services Corporate Consolidated Security Industrial Services Corporate Consolidated Three months ended December 31, 2023 Three months ended December 31, 2022 Reportable Segments Reportable Segments Security Industrial Services Corporate Consolidated Security Industrial Services Corporate Consolidated Revenues $ 9,167,801 $ 7,710,365 $ - $ 16,878,166 $ 7,004,744 $ 4,965,498 $ - $ 11,970,242 Cost of revenues 4,650,854 5,144,913 - 9,795,767 3,601,054 3,326,573 - 6,927,627 Gross profit $ 4,516,947 $ 2,565,452 $ - $ 7,082,399 $ 3,403,690 $ 1,638,925 $ - $ 5,042,615 Operating expenses General, and administrative 4,327,628 1,529,263 746,774 6,603,665 2,749,429 1,188,865 986,709 4,925,003 Depreciation and amortization 128,152 240,149 - 368,301 331,155 167,521 32,154 530,830 Research and development 848,805 - - 848,805 1,538,218 - - 1,538,218 Operating (loss)/income $ (787,638 ) $ 796,040 $ (746,774 ) $ (738,372 ) $ (1,215,112 ) $ 282,539 $ (1,018,863 ) $ (1,951,436 ) Other income/(expense) $ (134,261 ) $ (108,144 ) $ (262,867 ) $ (505,272 ) $ (112,399 ) $ (31,560 ) $ (1,001,358 ) $ (1,145,317 )

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
RESTRICTED CASH	NOTE 7 – 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 $ 1,181,516 1,019,652

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 8 – 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. The Company measures 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 December 31, 2023, and September 30, 2023, are as follows. SCHEDULE OF FAIR VALUE OF ASSETS Quoted Prices Significant Significant Balance Assets Investment in marketable securities (included in short-term investments) $ 13,307 $ - $ - $ 13,307 $ 13,307 $ - $ - $ 13,307 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Significant Balance Assets Investment in marketable securities (included in short-term investments) $ 13,663 $ - $ - $ 13,663 $ 13,663 $ - $ - $ 13,663

TRADE RECEIVABLES, NET

TRADE RECEIVABLES, NET	3 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
TRADE RECEIVABLES, NET	NOTE 9 – TRADE RECEIVABLES, NET Trade receivables, net consist of the following: SCHEDULE OF TRADE RECEIVABLES, NET December 31, 2023 September 30, 2023 Trade receivables $ 10,141,443 $ 9,444,619 Allowance for credit losses (236,888 ) (234,924 ) Accounts receivables, net, total $ 9,904,555 $ 9,209,695 Trade receivables include amounts due for shipped products and services rendered. Allowance for credit losses include estimated losses resulting from the inability of our customers to make the required payments.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	3 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 10 – PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: SUMMARY OF PREPAID AND OTHER CURRENT ASSETS December 31, 2023 September 30, 2023 Prepaid expenses $ 386,334 $ 521,310 Prepaid inventory 559,075 1,084,051 Deferred costs 36,002 25,941 Loan origination costs 54,400 - Prepaid income taxes - 168,555 VAT and GST tax receivable 311,487 298,502 Prepaid expenses and other current assets total $ 1,347,298 $ 2,098,359

INVENTORY, NET

INVENTORY, NET	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORY, NET	NOTE 11 – INVENTORY, NET Inventory, net consisted of the following: SCHEDULE OF INVENTORY, NET December 31, 2023 September 30, 2023 Raw materials $ 857,117 $ 885,398 Work in progress 397,017 109,019 Finished goods 6,684,483 7,744,802 Inventory, net 7,938,617 8,739,219 The Company maintained an allowance for obsolete inventories of $ 502,528 618,021

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 12 – PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT December 31, 2023 September 30, 2023 Land $ 945,279 $ 945,279 Building and leasehold improvements 4,370,732 4,362,062 Furniture and office equipment 595,397 579,700 Computers and software 1,333,135 1,333,135 Machinery and equipment 12,744,304 12,488,639 Property and equipment, gross 19,988,847 19,708,815 Less: Accumulated depreciation (10,818,471 ) (10,490,114 ) Property and equipment, net $ 9,170,376 $ 9,218,701 Depreciation expense for the three months ended December 31, 2023, and 2022, was $ 368,301 530,830

GOODWILL

GOODWILL	3 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	NOTE 13 – GOODWILL Changes in the carrying amount of goodwill, by segment, are as follows: SCHEDULE OF GOODWILL BY SEGMENT Security Industrial Services Corporate Consolidated Balance at September 30, 2023 $ 530,475 $ 3,851,416 $ - $ 4,381,891 Balance at December 31, 2023 $ 530,475 $ 3,851,416 $ - $ 4,381,891 As of December 31, 2023, and September 30, 2023, accumulated impairment losses of $ 3,316,000

OTHER ASSETS

OTHER ASSETS	3 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	NOTE 14 – OTHER ASSETS On November 13, 2020, Cemtrex made a $ 500,000 500,000 100,000 No Other assets consisted of the following: SCHEDULE OF OTHER ASSETS December 31, 2023 September 30, 2023 Rental deposits $ 56,807 $ 198,641 Investment in Masterpiece VR 1,200,000 1,100,000 Other deposits 322,976 167,808 Demonstration equipment supplied to resellers 410,818 369,560 Other assets total $ 1,990,601 $ 1,836,009

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 15 – ACCRUED EXPENSES Accrued expenses consisted of the following: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 September 30, 2023 Accrued expenses $ 477,094 $ 1,473,465 Accrued payroll 1,142,896 1,088,223 Accrued warranty 222,702 222,702 Accrued expenses total $ 1,842,692 $ 2,784,390

DEFERRED REVENUE

DEFERRED REVENUE	3 Months Ended
	Dec. 31, 2023
Deferred Revenue
DEFERRED REVENUE	NOTE 16 – DEFERRED REVENUE The Company’s deferred revenue as of and for the three months ended December 31, 2023, and 2022, were as follows: SCHEDULE OF DEFERRED REVENUE For the three months ended December 31, 2023 December 31, 2022 Deferred revenue at beginning of period $ 2,311,334 $ 1,824,534 Net additions: Deferred software revenues 659,970 427,418 Recognized as revenue: Deferred software revenues 714,952 558,931 Deferred revenue at end of period 2,256,352 1,693,021 Less: current portion 1,562,107 1,097,740 Long-term deferred revenue at end of period $ 694,245 $ 595,281 For the three months ended December 31, 2023 and 2022, the Company recognized revenue of $ 608,843 506,185

CONTRACT ASSETS AND LIABILITIES

CONTRACT ASSETS AND LIABILITIES	3 Months Ended
	Dec. 31, 2023
Contract Assets And Liabilities
CONTRACT ASSETS AND LIABILITIES	NOTE 17 – CONTRACT ASSETS AND LIABILITIES Project contracts typically provide for a schedule of billings on percentage of completion of specific tasks inherent in the fulfillment of the Company’s performance obligation(s). The schedules for such billings usually do not precisely match the schedule on which costs are incurred. As a result, contract revenue recognized in the statements of operations can and usually does differ from amounts that can be billed to the customer at any point during the contract. Amounts by which cumulative contract revenue recognized on a contract as of a given date exceeds cumulative billings and unbilled receivables to the customer under the contract are reflected as a current asset in the balance sheets under the caption “Contract assets.” Amounts by which cumulative billings to the customer under a contract as of a given date exceed cumulative contract revenue recognized are reflected as a current liability in the balance sheets under the caption “Contract liabilities.” Conditional retainage represents the portion of the contract price withheld until the work is substantially complete for assurance of the Company’s obligations to complete the job. The following is a summary of the Company’s uncompleted contracts: SCHEDULE OF CONTRACT ASSETS AND LIABILITIES December 31, 2023 December 31, 2022 Costs incurred on uncompleted contracts $ 11,900,894 $ 2,779,408 Estimated gross profit 3,020,654 1,145,663 14,921,548 3,925,071 Applicable billings to date (14,216,138 ) (4,811,777 ) Net billings in excess of costs, Ending balance $ 705,410 $ (886,706 ) December 31, 2023 September 30, 2023 Included in the accompanying balance sheet under the following captions Contract assets, net Costs in excess, net $ 1,593,142 $ 1,680,071 Conditional retainage, net 100,993 59,130 Total contract assets $ 1,694,135 $ 1,739,201 Contract liabilities Billings in excess (988,725 ) (980,319 ) Total contract liabilities $ (988,725 ) $ (980,319 ) December 31, 2022 September 30, 2022 Included in the accompanying balance sheet under the following captions Contract assets, net Costs in excess, net $ 521,172 $ 781,819 Total contract assets, net $ 521,172 $ 781,819 Contract liabilities Billings in excess (1,407,878 ) (369,890 ) Total contract liabilities $ (1,407,878 ) $ (369,890 ) For the three months ended December 31, 2023 and 2022, the Company recognized revenue of $ 791,161 352,847

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 18 – 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, for total consideration of $ 550,000 Company negotiated a payment agreement surrounding the sale of Griffin Filters, LLC, and other liabilities due to the Company 761,585 5 July 31, 2024 As of December 31, 2023, and September 30, 2023, there was $ 3,811 3,806 As of December 31, 2023, and September 30, 2023, there was $ 638,207 637,208 On November 22, 2022, the Company entered into two Asset Purchase Agreements and one Simple Agreement for Future Equity (“SAFE”) with the Company’s CEO, Saagar Govil, to secure the sale of the subsidiaries Cemtrex Advanced Technologies, Inc, and Cemtrex XR, Inc., which include the brands SmartDesk, Cemtrex XR, Virtual Driver Interactive, Bravo Strong, and good tech (formerly Cemtrex Labs), to Mr. Govil. Cemtrex XR, Inc. was purchased for $ 890,000 75,000 5 the next three years; and should the total sum of royalties due be less than $820,000 at the end of the three-year period, Mr. Govil shall be obligated to pay the difference between $820,000 and the royalties paid. The first Royalty payment is due by March 30, 2024. Cemtrex Advanced Technologies, Inc. was purchased for $10,000 in cash, 5% royalty of all revenues on the Business to be paid 90 days after the end of each calendar year for the next 5 years, and $1,600,000 in SAFE (common equity) at any subsequent fundraising or exit above $5,000,000 with a $10,000,000 cap. Subsequent to the sale of Cemtrex Advanced Technologies, Inc. the business has ceased operations. 5 As of December 31, 2023, there was $ 638,485 133,778 504,707 64,919 As of December 31, 2023, there were royalties receivable from the sale of Cemtrex, XR, Inc. of $ 708,174 , of which $ 220,000

LEASES

LEASES	3 Months Ended
	Dec. 31, 2023
Leases
LEASES	NOTE 19 – LEASES The Company is party to contracts where we lease property from others under contracts classified as operating leases. The Company primarily leases office and operating facilities, vehicles, and office equipment. The weighted average remaining term of our operating leases was approximately 2.75 years at December 31, 2023, and 3 years at September 30, 2023. Lease liabilities were $ 2,155,559 with $ 728,875 classified as short-term at December 31, 2023, and $ 2,348,689 with $ 741,487 , classified as short-term at September 30, 2023. The weighted average discount rate used to measure lease liabilities was approximately 5.6 % at December 31, 2023, and September 30, 2023. 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. Cash used by operating leases were $ 193,130 132,963 The Company has elected not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company’s corporate segment leases approximately 100 600 1,800 The Company’s security segment leases approximately 1,037 5,487 16,461 A reconciliation of undiscounted cash flows to operating lease liabilities recognized in the condensed consolidated balance sheet at December 31, 2023, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES Years ending September 30, Operating Leases 2024 624,469 2025 823,816 2026 621,892 2027 270,742 2028 & Thereafter 51,415 Undiscounted lease payments 2,392,334 Amount representing interest (236,775 ) Discounted lease payments $ 2,155,559 Lease costs for the three months ended December 31, 2023, and 2022 are set forth below: SCHEDULE OF LEASE COSTS 2023 2022 For the three months ended December 31, 2023 2022 Lease costs: Operating lease costs 193,432 261,433 Short-term lease costs 18,261 - Total lease cost $ 211,693 $ 261,433

LINES OF CREDIT AND LONG-TERM L

LINES OF CREDIT AND LONG-TERM LIABILITIES	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LINES OF CREDIT AND LONG-TERM LIABILITIES	NOTE 20 – LINES OF CREDIT AND LONG-TERM LIABILITIES Revolving line of credit On October 5, 2023, the Company obtained a revolving line of credit in the amount of $ 5,000,000 3 3,357,324 54,400 1,642,676 Standstill Agreement On August 31, 2023, the Company and Streeterville Capital, LLC entered into a standstill agreement for the two notes held by Streeterville Capital, LLC. The terms of this agreement are the earlier of (a) the date that is ninety (90) days from the Effective Date, and (b) the date that the Company completes an equity offering on either Form S-1 or Form S-3 (the “Standstill Period”), Streeterville Capital, LLC will not seek to redeem any portion of the Notes, and (c) the Company agrees to prepay to Lender fifty percent (50%) of the net proceeds received by Borrower in connection with all equity financings until such time as Borrower has raised at least $ 5,000,000 The following table outlines the Company’s secured liabilities: SCHEDULE OF LINES OF CREDIT AND LIABILITIES December 31, September 30, Interest Rate Maturity 2023 2023 Fulton Bank - $ 360,000 SOFR plus 2.37 7.75 7.68 1/31/2025 89,125 108,700 Fulton Bank mortgage $ 2,476,000 SOFR plus 2.62 8.00 7.93 1/28/2040 2,163,687 2,180,115 Fulton Bank (HEISEY) - $ 1,200,000 SOFR plus 2.80 8.18 8.11 9/30/2043 1,194,480 1,200,000 Fulton Bank (HEISEY) - $ 2,160,000 SOFR plus 2.80 8.18 8.11 7/1/2030 2,063,927 2,122,565 Note payable - $ 5,755,000 750,000 5,000 5,000,000 0 8 6/30/2024 4,691,520 4,596,589 Note payable - $ 9,205,000 1,200,000 5,000 8,000,000 28,572 700,400 0 8 2/22/2025 11,475,435 11,243,233 Note Payable - $ 240,000 6 7/1/2024 240,000 240,000 Term Loan Agreement with NIL Funding Corporation (“NIL”) - $ 5,600,000 11.50 12/31/2024 - 1,979,743 Paycheck Protection Program loan - $ 121,400 1 5/5/2025 80,994 91,114 Software License Agreement - $ 1,125,000 N/A 6/3/2024 450,000 675,000 HDFC Bank Auto Loan - $ 28,331 65,179 784.89 8.70 6/5/2027 28,331 - Total secured liabilities $ 22,477,499 $ 24,437,059 Less: Current maturities (15,717,081 ) (14,507,711 ) Less: Unamortized original issue discount - - Secured liabilities, Long Term $ 6,760,418 $ 9,929,348

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 21 – STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 10,000,000 0.001 2,458,053 2,343,016 2,393,953 2,278,916 Series 1 Preferred Stock During the three months ended December 31, 2023, 115,037 As of December 31, 2023, and September 30, 2023, there were 2,408,053 2,293,016 2,343,953 2,228,916 Series C Preferred Stock As of December 31, 2023, and September 30, 2023, there were 50,000 Common Stock The Company is authorized to issue 50,000,000 0.001 1,055,636 1,045,783 During the three months ended December 31, 2023, 9,853 40,000

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	NOTE 22 – SHARE-BASED COMPENSATION For the three months ended December 31, 2023, and 2022, the Company recognized $ 7,557 39,842 55,748 During the three months ended December 31, 2023, no options were granted, cancelled, or forfeited.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 23 – COMMITMENTS AND CONTINGENCIES The Company’s Industrial Services segment leases approximately 15,500 4,555 August 31, 2025 The Company’s Security segment leases (i) approximately 6,700 6,453 456,972 February 28, 2024 30,000 28,719 March 31, 2027 9,400 7,329 5,771 March 24, 2031 From time to time, the Company and its subsidiaries are involved in legal proceedings that are incidental to the operation of our business. The Company continues to defend vigorously against all claims. Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including assessment of the merits of the particular claim, as well as current accruals and insurance coverage, the Corporation does not expect that such legal proceedings will have a material adverse impact on its condensed consolidated financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 24 – SUBSEQUENT EVENTS Delisting from NASDAQ Capital Market and Repurchase of Series 1 Preferred Stock Subsequent to the balance sheet date, the Company has bought back 71,951 69,705 The Company’s Series 1 Preferred Stock was suspended from the Nasdaq Capital Market on January 22, 2024. The Series 1 Preferred Stock is now quoted on the OTC Markets under the symbol “CETXP.” Nasdaq informed the Company that Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the SEC following the lapse of applicable appeal periods. The Company does not intend to appeal the Panel’s decision. After the Form 25 is filed, the delisting will become effective 10 days later. The deregistration of the Company’s Series 1 Preferred Stock under Section 12(b) of the Exchange Act will be effective for 90 days, or such shorter period as the SEC may determine, after filing of the Form 25. Filing of Registration Statement on Form S-1 On January 17, 2024, the Company filed a preliminary Prospectus on Form S-1 to register shares of our common stock and common stock warrants for sale through a placement agent.

INTERIM STATEMENT PRESENTATION

INTERIM STATEMENT PRESENTATION (Policies)	3 Months Ended
	Dec. 31, 2023
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, 2023, 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. Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.
Significant Accounting Policies	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, 2023, includes a summary of the significant accounting policies used in the preparation of the consolidated financial statements.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Update 2016-13”). Update 2016-13 replaced the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (“CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including but not limited to trade receivables. For public business entities, the new standard became effective for annual reporting periods beginning after December 15, 2022, including interim periods within that reporting period. On October 1, 2023, the Company implemented this standard and there has been no material change to the financial statements. The Company estimates credit losses associated with our accounts receivable portfolio segment using an expected credit loss model, which utilizes an aging schedule methodology based on historical information and adjusted for asset-specific considerations, current economic conditions and reasonable and supportable forecasts. The Company will utilize the Probability-of-default method for financing receivables and loans. Expected credit losses are determined by multiplying the probability of default (i.e., the probability the asset will default within the given time frame) by the loss given default (the percentage of the asset not expected to be collected because of default). The Company considers sources of repayment associated with a financial asset when determining its credit losses, including collection against the collateral and certain embedded credit enhancements, such as guarantees or insurance. The allowance for credit losses were immaterial as of December 31, 2023.
Recently Issued Accounting Pronouncements Not Yet Effective	Recently Issued Accounting Pronouncements Not Yet Effective On June 30, 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”), which (1) clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and (2) requires specific disclosures related to such an equity security. Under current guidance, stakeholders have observed diversity in practice related to whether contractual sale restrictions should be considered in the measurement of the fair value of equity securities that are subject to such restrictions. On the basis of interpretations of existing guidance and the current illustrative example in ASC 820-10-55-52 of a restriction on the sale of an equity instrument, some entities use a discount for contractual sale restrictions when measuring fair value, while others view the application of such a discount to be inconsistent with the principles of ASC 820. To reduce the diversity in practice and increase the comparability of reported financial information, ASU 2022-03 clarifies this guidance and amends the illustrative example. ASU No. 2022-03 is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact of this ASU on our financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which enhances the disclosures required for operating segments in the Company’s annual and interim consolidated financial statements. ASU 2023-07 is effective for the Company for annual reporting for fiscal 2025 and for interim period reporting beginning in fiscal 2026 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of our pending adoption of ASU 2023-07 on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires public entities to disclose consistent categories and greater disaggregation of information in the rate reconciliation and for income taxes paid. It also includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard prospectively in fiscal year 2026 for the annual reporting period ending September 30, 2026. The Company is currently in the process of evaluating the impact of adoption on its Consolidated 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 condensed consolidated financial statements.

ORGANIZATION AND PLAN OF OPER_2

ORGANIZATION AND PLAN OF OPERATIONS (Tables)	3 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF BUSINESS ACQUISITION OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES	The consideration transferred and preliminary allocation of Heisey’s tangible and intangible assets and liabilities, are as follows: SCHEDULE OF BUSINESS ACQUISITION OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES Consideration Transferred: Cash $ 393,291 Seller’s note 240,000 Financed amount 2,160,000 Total consideration transferred $ 2,793,291 Purchase Price Allocation: Inventory 300,000 Contract assets 667,259 Machinery and equipment 1,625,000 Contract liabilities (216,469 ) Accrued expenses (57,499 ) Goodwill 475,000 Total consideration transferred $ 2,793,291
SCHEDULE OF PRO FORMA FINANCIAL INFORMATION	SCHEDULE OF PRO FORMA FINANCIAL INFORMATION Unaudited for the three months ended December 31, 2022 Revenues $ 13,173,838 Net loss (6,440,203 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
SUMMARY OF LOSS ON SALE	The following table summarizes the loss on the sale recorded during the three months ended December 31, 2022, included in Income/(loss) from discontinued operations, net of tax in the accompanying condensed consolidated statement of Operations: SUMMARY OF LOSS ON SALE Purchase Price $ 745,621 Less cash and cash equivalents transferred (699,423 ) Less liabilities assumed (10,924 ) Net purchase price $ 35,274 Assets Sold Accounts receivable, net $ 625,638 Inventory, net 980,730 Prepaid expenses and other assets 502,577 Property and equipment, net 837,808 Goodwill 598,392 Total Assets Sold 3,545,145 Liabilities Transferred Accounts payable 370,774 Short-term liabilities 364,775 Long-term liabilities 318,981 Total Liabilities Transferred 1,054,530 Net assets sold $ 2,490,615 Pretax loss on sale of Cemtrex Advanced Technologies, Inc, and Cemtrex XR, Inc.Companies $ (2,455,341 )
SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS	SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS 2023 2022 For the three months ended December 31, 2023 2022 Total net sales $ - $ 649,061 Cost of sales - 228,086 Operating, selling, general and administrative expenses - 1,295,572 Other (income)/expenses - 3,195 Income (loss) from discontinued operations - (877,792 ) Amortization of discounted royalties 13,282 4,427 Loss on sale of discontinued operations - (2,455,341 ) Adjustment of benefit obligation - 89,085 Income tax provision 2,790 - Discontinued operations, net of tax $ 10,492 $ (3,239,621 )

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Dec. 31, 2023
Revenue
SCHEDULE OF DISAGGREGATION OF REVENUE RECOGNITION	The following table illustrates the approximate disaggregation of the Company’s revenue based off timing of revenue recognition for the three months ended December 31, 2023 and 2022: SCHEDULE OF DISAGGREGATION OF REVENUE RECOGNITION For the three months ended December 31, 2023 December 31, 2022 Over time 52 % 51 % Point-in-time 48 % 49 %

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Dec. 31, 2023
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 2023 2022 For the three months ended December 31, 2023 2022 Options 28,796 34,579
SCHEDULE OF LOSS PER SHARE BASIC AND DILUTED FOR CONTINUING OPERATION	For the three months ended December 31, 2023 and 2022, loss per share basic and diluted for continuing operations are calculated as follows: SCHEDULE OF LOSS PER SHARE BASIC AND DILUTED FOR CONTINUING OPERATION 2023 2022 For the three months December 31, 2023 2022 Loss from Continuing operations $ (1,314,395 ) $ (3,096,753 ) Less loss in noncontrolling interest (96,409 ) (59,163 ) Preferred stock dividends - - Net loss applicable to common shareholders (1,217,986 ) (3,037,590 ) Weighted Average Number of Shares-Basic & Diluted 1,047,624 761,571 Loss per share - Basic & Diluted - Continuing Operations $ (1.16 ) $ (3.99 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT INFORMATION	The following tables summarize the Company’s reportable segment information and corporate expenses: SCHEDULE OF SEGMENT INFORMATION Security Industrial Services Corporate Consolidated Security Industrial Services Corporate Consolidated Three months ended December 31, 2023 Three months ended December 31, 2022 Reportable Segments Reportable Segments Security Industrial Services Corporate Consolidated Security Industrial Services Corporate Consolidated Revenues $ 9,167,801 $ 7,710,365 $ - $ 16,878,166 $ 7,004,744 $ 4,965,498 $ - $ 11,970,242 Cost of revenues 4,650,854 5,144,913 - 9,795,767 3,601,054 3,326,573 - 6,927,627 Gross profit $ 4,516,947 $ 2,565,452 $ - $ 7,082,399 $ 3,403,690 $ 1,638,925 $ - $ 5,042,615 Operating expenses General, and administrative 4,327,628 1,529,263 746,774 6,603,665 2,749,429 1,188,865 986,709 4,925,003 Depreciation and amortization 128,152 240,149 - 368,301 331,155 167,521 32,154 530,830 Research and development 848,805 - - 848,805 1,538,218 - - 1,538,218 Operating (loss)/income $ (787,638 ) $ 796,040 $ (746,774 ) $ (738,372 ) $ (1,215,112 ) $ 282,539 $ (1,018,863 ) $ (1,951,436 ) Other income/(expense) $ (134,261 ) $ (108,144 ) $ (262,867 ) $ (505,272 ) $ (112,399 ) $ (31,560 ) $ (1,001,358 ) $ (1,145,317 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
SCHEDULE OF FAIR VALUE OF ASSETS	The Company’s fair value assets at December 31, 2023, and September 30, 2023, are as follows. SCHEDULE OF FAIR VALUE OF ASSETS Quoted Prices Significant Significant Balance Assets Investment in marketable securities (included in short-term investments) $ 13,307 $ - $ - $ 13,307 $ 13,307 $ - $ - $ 13,307 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Significant Balance Assets Investment in marketable securities (included in short-term investments) $ 13,663 $ - $ - $ 13,663 $ 13,663 $ - $ - $ 13,663

TRADE RECEIVABLES, NET (Tables)

TRADE RECEIVABLES, NET (Tables)	3 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
SCHEDULE OF TRADE RECEIVABLES, NET	Trade receivables, net consist of the following: SCHEDULE OF TRADE RECEIVABLES, NET December 31, 2023 September 30, 2023 Trade receivables $ 10,141,443 $ 9,444,619 Allowance for credit losses (236,888 ) (234,924 ) Accounts receivables, net, total $ 9,904,555 $ 9,209,695

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Dec. 31, 2023
Prepaid Expenses And Other Current Assets
SUMMARY OF PREPAID AND OTHER CURRENT ASSETS	Prepaid expenses and other current assets consist of the following: SUMMARY OF PREPAID AND OTHER CURRENT ASSETS December 31, 2023 September 30, 2023 Prepaid expenses $ 386,334 $ 521,310 Prepaid inventory 559,075 1,084,051 Deferred costs 36,002 25,941 Loan origination costs 54,400 - Prepaid income taxes - 168,555 VAT and GST tax receivable 311,487 298,502 Prepaid expenses and other current assets total $ 1,347,298 $ 2,098,359

INVENTORY, NET (Tables)

INVENTORY, NET (Tables)	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY, NET	Inventory, net consisted of the following: SCHEDULE OF INVENTORY, NET December 31, 2023 September 30, 2023 Raw materials $ 857,117 $ 885,398 Work in progress 397,017 109,019 Finished goods 6,684,483 7,744,802 Inventory, net 7,938,617 8,739,219

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SUMMARY OF PROPERTY AND EQUIPMENT	Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT December 31, 2023 September 30, 2023 Land $ 945,279 $ 945,279 Building and leasehold improvements 4,370,732 4,362,062 Furniture and office equipment 595,397 579,700 Computers and software 1,333,135 1,333,135 Machinery and equipment 12,744,304 12,488,639 Property and equipment, gross 19,988,847 19,708,815 Less: Accumulated depreciation (10,818,471 ) (10,490,114 ) Property and equipment, net $ 9,170,376 $ 9,218,701

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF GOODWILL BY SEGMENT	Changes in the carrying amount of goodwill, by segment, are as follows: SCHEDULE OF GOODWILL BY SEGMENT Security Industrial Services Corporate Consolidated Balance at September 30, 2023 $ 530,475 $ 3,851,416 $ - $ 4,381,891 Balance at December 31, 2023 $ 530,475 $ 3,851,416 $ - $ 4,381,891

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	3 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
SCHEDULE OF OTHER ASSETS	Other assets consisted of the following: SCHEDULE OF OTHER ASSETS December 31, 2023 September 30, 2023 Rental deposits $ 56,807 $ 198,641 Investment in Masterpiece VR 1,200,000 1,100,000 Other deposits 322,976 167,808 Demonstration equipment supplied to resellers 410,818 369,560 Other assets total $ 1,990,601 $ 1,836,009

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consisted of the following: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 September 30, 2023 Accrued expenses $ 477,094 $ 1,473,465 Accrued payroll 1,142,896 1,088,223 Accrued warranty 222,702 222,702 Accrued expenses total $ 1,842,692 $ 2,784,390

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	3 Months Ended
	Dec. 31, 2023
Deferred Revenue
SCHEDULE OF DEFERRED REVENUE	The Company’s deferred revenue as of and for the three months ended December 31, 2023, and 2022, were as follows: SCHEDULE OF DEFERRED REVENUE For the three months ended December 31, 2023 December 31, 2022 Deferred revenue at beginning of period $ 2,311,334 $ 1,824,534 Net additions: Deferred software revenues 659,970 427,418 Recognized as revenue: Deferred software revenues 714,952 558,931 Deferred revenue at end of period 2,256,352 1,693,021 Less: current portion 1,562,107 1,097,740 Long-term deferred revenue at end of period $ 694,245 $ 595,281

CONTRACT ASSETS AND LIABILITI_2

CONTRACT ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Dec. 31, 2023
Contract Assets And Liabilities
SCHEDULE OF CONTRACT ASSETS AND LIABILITIES	The following is a summary of the Company’s uncompleted contracts: SCHEDULE OF CONTRACT ASSETS AND LIABILITIES December 31, 2023 December 31, 2022 Costs incurred on uncompleted contracts $ 11,900,894 $ 2,779,408 Estimated gross profit 3,020,654 1,145,663 14,921,548 3,925,071 Applicable billings to date (14,216,138 ) (4,811,777 ) Net billings in excess of costs, Ending balance $ 705,410 $ (886,706 ) December 31, 2023 September 30, 2023 Included in the accompanying balance sheet under the following captions Contract assets, net Costs in excess, net $ 1,593,142 $ 1,680,071 Conditional retainage, net 100,993 59,130 Total contract assets $ 1,694,135 $ 1,739,201 Contract liabilities Billings in excess (988,725 ) (980,319 ) Total contract liabilities $ (988,725 ) $ (980,319 ) December 31, 2022 September 30, 2022 Included in the accompanying balance sheet under the following captions Contract assets, net Costs in excess, net $ 521,172 $ 781,819 Total contract assets, net $ 521,172 $ 781,819 Contract liabilities Billings in excess (1,407,878 ) (369,890 ) Total contract liabilities $ (1,407,878 ) $ (369,890 )

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Dec. 31, 2023
Leases
SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES	A reconciliation of undiscounted cash flows to operating lease liabilities recognized in the condensed consolidated balance sheet at December 31, 2023, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES Years ending September 30, Operating Leases 2024 624,469 2025 823,816 2026 621,892 2027 270,742 2028 & Thereafter 51,415 Undiscounted lease payments 2,392,334 Amount representing interest (236,775 ) Discounted lease payments $ 2,155,559
SCHEDULE OF LEASE COSTS	Lease costs for the three months ended December 31, 2023, and 2022 are set forth below: SCHEDULE OF LEASE COSTS 2023 2022 For the three months ended December 31, 2023 2022 Lease costs: Operating lease costs 193,432 261,433 Short-term lease costs 18,261 - Total lease cost $ 211,693 $ 261,433

LINES OF CREDIT AND LONG-TERM_2

LINES OF CREDIT AND LONG-TERM LIABILITIES (Tables)	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
SCHEDULE OF LINES OF CREDIT AND LIABILITIES	The following table outlines the Company’s secured liabilities: SCHEDULE OF LINES OF CREDIT AND LIABILITIES December 31, September 30, Interest Rate Maturity 2023 2023 Fulton Bank - $ 360,000 SOFR plus 2.37 7.75 7.68 1/31/2025 89,125 108,700 Fulton Bank mortgage $ 2,476,000 SOFR plus 2.62 8.00 7.93 1/28/2040 2,163,687 2,180,115 Fulton Bank (HEISEY) - $ 1,200,000 SOFR plus 2.80 8.18 8.11 9/30/2043 1,194,480 1,200,000 Fulton Bank (HEISEY) - $ 2,160,000 SOFR plus 2.80 8.18 8.11 7/1/2030 2,063,927 2,122,565 Note payable - $ 5,755,000 750,000 5,000 5,000,000 0 8 6/30/2024 4,691,520 4,596,589 Note payable - $ 9,205,000 1,200,000 5,000 8,000,000 28,572 700,400 0 8 2/22/2025 11,475,435 11,243,233 Note Payable - $ 240,000 6 7/1/2024 240,000 240,000 Term Loan Agreement with NIL Funding Corporation (“NIL”) - $ 5,600,000 11.50 12/31/2024 - 1,979,743 Paycheck Protection Program loan - $ 121,400 1 5/5/2025 80,994 91,114 Software License Agreement - $ 1,125,000 N/A 6/3/2024 450,000 675,000 HDFC Bank Auto Loan - $ 28,331 65,179 784.89 8.70 6/5/2027 28,331 - Total secured liabilities $ 22,477,499 $ 24,437,059 Less: Current maturities (15,717,081 ) (14,507,711 ) Less: Unamortized original issue discount - - Secured liabilities, Long Term $ 6,760,418 $ 9,929,348

SCHEDULE OF BUSINESS ACQUISITIO

SCHEDULE OF BUSINESS ACQUISITION OF TANGIBLE AND INTANGIBLE ASSETS AND LIABILITIES (Details) - USD ($)		3 Months Ended
	Jul. 01, 2023	Dec. 31, 2023	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Goodwill		$ 4,381,891	$ 4,381,891
Heisey Mechanical Ltd [Member]
Restructuring Cost and Reserve [Line Items]
Cash	$ 2,400,000	393,291
Seller's note		240,000
Financed amount		2,160,000
Total consideration transferred		2,793,291
Inventory		300,000
Contract assets		667,259
Machinery and equipment		1,625,000
Contract liabilities		(216,469)
Accrued expenses		(57,499)
Goodwill		475,000
Total consideration transferred		$ 2,793,291

SCHEDULE OF PRO FORMA FINANCIAL

SCHEDULE OF PRO FORMA FINANCIAL INFORMATION (Details)	3 Months Ended
	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues	$ 13,173,838
Net loss	$ (6,440,203)

ORGANIZATION AND PLAN OF OPER_3

ORGANIZATION AND PLAN OF OPERATIONS (Details Narrative)			3 Months Ended
	Aug. 30, 2023 USD ($)	Jul. 01, 2023 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 12, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Jul. 29, 2022 $ / shares
Net loss			$ 9,196,875	$ 13,020,958
Loss from Continuing operations			1,314,395
Liabilities, current			28,696,123			$ 27,344,118
Working capital			2,284,787
Cash			2,835,216			$ 5,329,910
Available fund			$ 1,642,676
Reverse stock split			35:1 reverse stock split
Subsequent Event [Member]
Share repurchase program | shares					71,951
Share repurchase program, value					$ 69,705
Preferred Stock [Member]
Minimum share bid price | $ / shares							$ 1
Preferred Stock [Member] | Minimum [Member]
Minimum share bid price | $ / shares							$ 1
Heisey Mechanical Ltd [Member]
Outstanding adjustments		$ 2,400,000	$ 393,291
Adjustments for contract assets and liabilities		$ 393,291
Real estate purchased	$ 1,500,000
Area of Land | ft²		33,000
Depreciation expense from acquired fixed assets				63,900
Interest expense on debt used in acquisition				$ 33,400
Heisey Mechanical Ltd [Member] | Fulton Bank [Member]
Interest expense	$ 1,200,000
Heisey Mechanical Ltd [Member] | Fulton Bank [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Percentage of financing rate	2.80%
Debt maturity date	Sep. 30, 2043

SUMMARY OF LOSS ON SALE (Detail

SUMMARY OF LOSS ON SALE (Details)	3 Months Ended
	Dec. 31, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	$ 96,095
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase Price	745,621
Less cash and cash equivalents transferred	(699,423)
Less liabilities assumed	(10,924)
Net purchase price	35,274
Assets Sold
Accounts receivable, net	625,638
Inventory, net	980,730
Prepaid expenses and other assets	502,577
Property and equipment, net	837,808
Goodwill	598,392
Total Assets Sold	3,545,145
Liabilities Transferred
Accounts payable	370,774
Short-term liabilities	364,775
Long-term liabilities	318,981
Total Liabilities Transferred	1,054,530
Net assets sold	2,490,615
Pretax loss on sale of Cemtrex Advanced Technologies, Inc, and Cemtrex XR, Inc.Companies	$ (2,455,341)

SCHEDULE OF FINANCIAL STATEMENT

SCHEDULE OF FINANCIAL STATEMENTS INCLUDED WITHIN DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Total net sales		$ 649,061
Cost of sales		228,086
Operating, selling, general and administrative expenses		1,295,572
Other (income)/expenses		3,195
Income (loss) from discontinued operations		(877,792)
Amortization of discounted royalties	13,282	4,427
Loss on sale of discontinued operations		(2,455,341)
Adjustment of benefit obligation		89,085
Income tax provision	2,790
Discontinued operations, net of tax	$ 10,492	$ (3,239,621)

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details Narrative) - USD ($)		3 Months Ended
	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2022
Discontinued operations funds received			$ 96,095
Discontinued operations consulting fees			7,010
Loss on discontinued operations			89,085
Smart Desk [Member] | Safe Agreement [Member]
Royalty expense	$ 0
Cemtrex XR Inc [Member]
Increase in royalty payment	$ 820,000
Cemtrex XR Inc [Member] | Accounting Standards Update 2020-08 [Member]
Royalties paid		$ 13,282	$ 4,427

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE RECOGNITION (Details)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue
Over time	52%	51%
Point-in-time	48%	49%

SCHEDULE OF COMPUTATION OF DILU

SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT (Details) - shares	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options	28,796	34,579

SCHEDULE OF LOSS PER SHARE BASI

SCHEDULE OF LOSS PER SHARE BASIC AND DILUTED FOR CONTINUING OPERATION (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Loss from Continuing operations	$ (1,314,395)	$ (3,096,753)
Less loss in noncontrolling interest	(96,409)	(59,163)
Preferred stock dividends
Net loss applicable to common shareholders	$ (1,217,986)	$ (3,037,590)
Weighted Average Number of Shares Outstanding, Diluted	1,047,624	761,571
Income (Loss) from Continuing Operations, Per Diluted Share	$ (1.16)	$ (3.99)

SCHEDULE OF SEGMENT INFORMATION

SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues	$ 16,878,166	$ 11,970,242
Cost of revenues	9,795,767	6,927,627
Gross profit	7,082,399	5,042,615
Operating expenses
General, and administrative	6,603,665	4,925,003
Depreciation and amortization	368,301	530,830
Research and development	848,805	1,538,218
Operating (loss)/income	(738,372)	(1,951,436)
Other income/(expense)	(505,272)	(1,145,317)
Security [Member]
Segment Reporting Information [Line Items]
Revenues	9,167,801	7,004,744
Cost of revenues	4,650,854	3,601,054
Gross profit	4,516,947	3,403,690
Operating expenses
General, and administrative	4,327,628	2,749,429
Depreciation and amortization	128,152	331,155
Research and development	848,805	1,538,218
Operating (loss)/income	(787,638)	(1,215,112)
Other income/(expense)	(134,261)	(112,399)
Industrial Services [Member]
Segment Reporting Information [Line Items]
Revenues	7,710,365	4,965,498
Cost of revenues	5,144,913	3,326,573
Gross profit	2,565,452	1,638,925
Operating expenses
General, and administrative	1,529,263	1,188,865
Depreciation and amortization	240,149	167,521
Research and development
Operating (loss)/income	796,040	282,539
Other income/(expense)	(108,144)	(31,560)
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Cost of revenues
Gross profit
Operating expenses
General, and administrative	746,774	986,709
Depreciation and amortization		32,154
Research and development
Operating (loss)/income	(746,774)	(1,018,863)
Other income/(expense)	$ (262,867)	$ (1,001,358)

RESTRICTED CASH (Details Narrat

RESTRICTED CASH (Details Narrative) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 1,181,516	$ 1,019,652

SCHEDULE OF FAIR VALUE OF ASSET

SCHEDULE OF FAIR VALUE OF ASSETS (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	$ 13,307	$ 13,663
Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	13,307	13,663
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets	13,307	13,663
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	13,307	13,663
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

SCHEDULE OF TRADE RECEIVABLES,

SCHEDULE OF TRADE RECEIVABLES, NET (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Receivables [Abstract]
Trade receivables	$ 10,141,443	$ 9,444,619
Allowance for credit losses	(236,888)	(234,924)
Accounts receivables, net, total	$ 9,904,555	$ 9,209,695

SUMMARY OF PREPAID AND OTHER CU

SUMMARY OF PREPAID AND OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Prepaid Expenses And Other Current Assets
Prepaid expenses	$ 386,334	$ 521,310
Prepaid inventory	559,075	1,084,051
Deferred costs	36,002	25,941
Loan origination costs	54,400
Prepaid income taxes		168,555
VAT and GST tax receivable	311,487	298,502
Prepaid expenses and other current assets total	$ 1,347,298	$ 2,098,359

SCHEDULE OF INVENTORY, NET (Det

SCHEDULE OF INVENTORY, NET (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 857,117	$ 885,398
Work in progress	397,017	109,019
Finished goods	6,684,483	7,744,802
Inventory, net	$ 7,938,617	$ 8,739,219

INVENTORY, NET (Details Narrati

INVENTORY, NET (Details Narrative) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory Adjustments	$ 502,528	$ 618,021

SUMMARY OF PROPERTY AND EQUIPME

SUMMARY OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 19,988,847	$ 19,708,815
Less: Accumulated depreciation	(10,818,471)	(10,490,114)
Property and equipment, net	9,170,376	9,218,701
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	945,279	945,279
Building and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,370,732	4,362,062
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	595,397	579,700
Computers And Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,333,135	1,333,135
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,744,304	$ 12,488,639

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation, Depletion and Amortization	$ 368,301	$ 530,830
General and Administrative Expense [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Depreciation, Depletion and Amortization	$ 368,301	$ 530,830

SCHEDULE OF GOODWILL BY SEGMENT

SCHEDULE OF GOODWILL BY SEGMENT (Details)	Dec. 31, 2023 USD ($)
Indefinite-Lived Intangible Assets [Line Items]
Balance beginning	$ 4,381,891
Balance ending	4,381,891
Security [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance beginning	530,475
Balance ending	530,475
Industrial Services [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance beginning	3,851,416
Balance ending	3,851,416
Corporate Segment [Member]
Indefinite-Lived Intangible Assets [Line Items]
Balance beginning
Balance ending

GOODWILL (Details Narrative)

GOODWILL (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023
Security [Member]
Indefinite-Lived Intangible Assets [Line Items]
Accumulated impairment losses	$ 3,316,000	$ 3,316,000

SCHEDULE OF OTHER ASSETS (Detai

SCHEDULE OF OTHER ASSETS (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Rental deposits	$ 56,807	$ 198,641
Investment in Masterpiece VR	1,200,000	1,100,000
Other deposits	322,976	167,808
Demonstration equipment supplied to resellers	410,818	369,560
Other assets total	$ 1,990,601	$ 1,836,009

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2023	Oct. 05, 2023	Jul. 18, 2023	Jan. 19, 2022	Nov. 13, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Investment		$ 100,000	$ 100,000	$ 500,000	$ 500,000
Impairment expense	$ 0

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued expenses	$ 477,094	$ 1,473,465
Accrued payroll	1,142,896	1,088,223
Accrued warranty	222,702	222,702
Accrued expenses total	$ 1,842,692	$ 2,784,390

SCHEDULE OF DEFERRED REVENUE (D

SCHEDULE OF DEFERRED REVENUE (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Deferred Revenue
Deferred revenue at beginning of period	$ 2,311,334	$ 1,824,534
Deferred software revenues, Additions	659,970	427,418
Deferred revenues revenues, Recognized	714,952	558,931
Deferred revenue at end of period	2,256,352	1,693,021
Less: current portion	1,562,107	1,097,740	$ 1,583,406
Long-term deferred revenue at end of period	$ 694,245	$ 595,281	$ 727,928

DEFERRED REVENUE (Details Narra

DEFERRED REVENUE (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Revenue
Deferred revenue	$ 608,843	$ 506,185

SCHEDULE OF CONTRACT ASSETS AND

SCHEDULE OF CONTRACT ASSETS AND LIABILITIES (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Contract Assets And Liabilities
Costs incurred on uncompleted contracts	$ 11,900,894	$ 2,779,408
Estimated gross profit	3,020,654	1,145,663
Costs incurred on uncompleted contracts estimated net	14,921,548	3,925,071
Applicable billings to date	(14,216,138)	(4,811,777)
netNet billings in excess of costs, Ending balance	705,410	(886,706)
Costs in excess, net	1,593,142	521,172	$ 1,680,071	$ 781,819
Conditional retainage, net	100,993		59,130
Total contract assets, net	1,694,135	521,172	1,739,201	781,819
Billings in excess	(988,725)	(1,407,878)	(980,319)	(369,890)
Total contract liabilities	$ (988,725)	$ (1,407,878)	$ (980,319)	$ (369,890)

CONTRACT ASSETS AND LIABILITI_3

CONTRACT ASSETS AND LIABILITIES (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract Assets And Liabilities
Revenue recognized	$ 791,161	$ 352,847

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)				3 Months Ended
	Nov. 22, 2022	Jul. 31, 2022	Aug. 31, 2019	Dec. 31, 2023	Oct. 05, 2023	Sep. 30, 2023
Related Party Transaction [Line Items]
Related party, Interest rate					3%
Trade receivables				$ 9,904,555		$ 9,209,695
Griffin Filters LLC [Member]
Related Party Transaction [Line Items]
Related party transaction, description		Company negotiated a payment agreement surrounding the sale of Griffin Filters, LLC, and other liabilities due to the Company
Related Party [Member]
Related Party Transaction [Line Items]
Trade receivables				638,485
Other receivables, current				133,778
Accounts payable				64,919
Trade receivable, related party				1,496,692		1,143,342
Cemtrex Technologies Pvt Ltd [Member]
Related Party Transaction [Line Items]
Other receivables, current				504,707
Cemtrex XR Inc [Member]
Related Party Transaction [Line Items]
Proceeds from Royalties Received				708,174
Trade receivable, related party				220,000
Asset Purchase Agreement [Member] | Ducon Technologies Inc [Member] | Griffin Filters LLC [Member]
Related Party Transaction [Line Items]
Due to related parties, current				3,811		3,806
Asset Purchase Agreement [Member] | Ducon Technologies Inc [Member] | Griffin Filters LLC [Member] | Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Total consideration			$ 550,000
Asset Purchase Agreement [Member] | Ducon to Cemtrix Technology [Member] | Griffin Filters LLC [Member]
Related Party Transaction [Line Items]
Related party, Interest rate		5%
Debt instrument maturity date		Jul. 31, 2024
Due from related parties, current				$ 638,207		$ 637,208
Asset Purchase Agreement [Member] | Ducon to Cemtrix Technology [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties, current		$ 761,585
Asset Purchase Agreements [Member] | Saagar Govil [Member]
Related Party Transaction [Line Items]
Related party transaction, description	the next three years; and should the total sum of royalties due be less than $820,000 at the end of the three-year period, Mr. Govil shall be obligated to pay the difference between $820,000 and the royalties paid. The first Royalty payment is due by March 30, 2024. Cemtrex Advanced Technologies, Inc. was purchased for $10,000 in cash, 5% royalty of all revenues on the Business to be paid 90 days after the end of each calendar year for the next 5 years, and $1,600,000 in SAFE (common equity) at any subsequent fundraising or exit above $5,000,000 with a $10,000,000 cap. Subsequent to the sale of Cemtrex Advanced Technologies, Inc. the business has ceased operations.
Purchases from related party	$ 890,000
Cash from related party	$ 75,000
Royalty percentage	5%

SCHEDULE OF RECONCILIATION OF U

SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
Leases
2024	$ 624,469
2025	823,816
2026	621,892
2027	270,742
2028 & Thereafter	51,415
Undiscounted lease payments	2,392,334
Amount representing interest	(236,775)
Discounted lease payments	$ 2,155,559	$ 2,348,689

SCHEDULE OF LEASE COSTS (Detail

SCHEDULE OF LEASE COSTS (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating lease costs	$ 193,432	$ 261,433
Short-term lease costs	18,261
Total lease cost	$ 211,693	$ 261,433

LEASES (Details Narrative)

LEASES (Details Narrative)	3 Months Ended
	Dec. 31, 2023 USD ($) ft²	Dec. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)
Lessee, Operating Lease, Term of Contract	2 years 9 months		3 years
Operating Lease, Liability	$ 2,155,559		$ 2,348,689
Operating Lease, Liability, Current	728,875		$ 741,487
Operating Lease, Weighted Average Discount Rate, Percent			5.60%
Increase (Decrease) in Operating Lease Liability	$ 193,130	$ 132,963
Brooklyn [Member]
Area of Land | ft²	100
Payments for rent	$ 600
Operating Lease, Expense	$ 1,800
Clovis [Member]
Area of Land | ft²	1,037
Payments for rent	$ 5,487
Operating Lease, Expense	$ 16,461

SCHEDULE OF LINES OF CREDIT AND

SCHEDULE OF LINES OF CREDIT AND LIABILITIES (Details) (Parenthetical) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Oct. 05, 2023	Sep. 30, 2023
Line of Credit Facility [Line Items]
Interest rate			3%
Notes payable - discount		$ 441,734
Notes payable - Unamortized discount
Notes Payable One [Member]
Line of Credit Facility [Line Items]
Interest rate	8%
Notes payable	$ 5,755,000
Notes payable - discount	750,000
Notes payable - leagal fees	5,000
Proceeds from notes payable	5,000,000
Notes payable - Unamortized discount	$ 0			0
Notes Payable Two [Member]
Line of Credit Facility [Line Items]
Interest rate	8%
Notes payable	$ 9,205,000
Notes payable - discount	1,200,000
Notes payable - leagal fees	5,000
Proceeds from notes payable	8,000,000
Notes payable - Unamortized discount	$ 0			$ 0
Common stock, shares	28,572
Common stock, value	$ 700,400
Notes Payable [Member] | Heisey Mechanical Ltd [Member]
Line of Credit Facility [Line Items]
Interest rate	6%
Notes payable	$ 240,000
Term Loan Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate	11.50%
Loans payable	$ 5,600,000
PPP Loans [Member]
Line of Credit Facility [Line Items]
Interest rate	1%
Loans payable	$ 121,400
Software License Agreement [Member]
Line of Credit Facility [Line Items]
Loans payable	$ 1,125,000
HDFC Bank Auto Loan [Member]
Line of Credit Facility [Line Items]
Interest rate	8.70%
Loans payable	$ 784.89
Notes payable	28,331
Monthly payments	65,179
Fulton Bank One [Member]
Line of Credit Facility [Line Items]
Loans payable to bank	$ 360,000
Interest rate basis spread	2.37%
Interest rate	7.75%			7.68%
Fulton Bank Two [Member]
Line of Credit Facility [Line Items]
Loans payable to bank	$ 2,476,000
Interest rate basis spread	2.62%
Interest rate	8%			7.93%
Fulton Bank Mortgage Payable HEISEY [Member]
Line of Credit Facility [Line Items]
Loans payable to bank	$ 1,200,000
Interest rate basis spread	2.80%
Interest rate	8.18%			8.11%
Fulton Bank Promissory Payable HEISEY [Member]
Line of Credit Facility [Line Items]
Loans payable to bank	$ 2,160,000
Interest rate basis spread	2.80%
Interest rate	8.18%			8.11%

SCHEDULE OF LINES OF CREDIT A_2

SCHEDULE OF LINES OF CREDIT AND LIABILITIES (Details) - USD ($)	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023
Line of Credit Facility [Line Items]
Total secured liabilities	$ 22,477,499	$ 24,437,059
Current maturities	(15,717,081)	(14,507,711)
Unamortized original issue discount
Secured liabilities, Long Term	$ 6,760,418	9,929,348
Fulton Bank One [Member]
Line of Credit Facility [Line Items]
Maturity date	Jan. 31, 2025
Total secured liabilities	$ 89,125	108,700
Fulton Bank Two [Member]
Line of Credit Facility [Line Items]
Maturity date	Jan. 28, 2040
Total secured liabilities	$ 2,163,687	2,180,115
Fulton Bank Mortgage Payable HEISEY [Member]
Line of Credit Facility [Line Items]
Maturity date	Sep. 30, 2043
Total secured liabilities	$ 1,194,480	1,200,000
Fulton Bank Promissory Payable HEISEY [Member]
Line of Credit Facility [Line Items]
Maturity date	Jul. 01, 2030
Total secured liabilities	$ 2,063,927	2,122,565
Notes Payable One [Member]
Line of Credit Facility [Line Items]
Maturity date	Jun. 30, 2024
Total secured liabilities	$ 4,691,520	4,596,589
Notes Payable Two [Member]
Line of Credit Facility [Line Items]
Maturity date	Feb. 22, 2025
Total secured liabilities	$ 11,475,435	11,243,233
Notes Payable [Member] | Heisey Mechanical Ltd [Member]
Line of Credit Facility [Line Items]
Maturity date	Jul. 01, 2024
Total secured liabilities	$ 240,000	240,000
Term Loan Agreement [Member]
Line of Credit Facility [Line Items]
Maturity date	Dec. 31, 2024
Total secured liabilities		1,979,743
PPP Loans [Member]
Line of Credit Facility [Line Items]
Maturity date	May 05, 2025
Total secured liabilities	$ 80,994	91,114
Software License Agreement [Member]
Line of Credit Facility [Line Items]
Maturity date	Jun. 03, 2024
Total secured liabilities	$ 450,000	675,000
HDFC Bank Auto Loan [Member]
Line of Credit Facility [Line Items]
Maturity date	Jun. 05, 2027
Total secured liabilities	$ 28,331

LINES OF CREDIT AND LONG-TERM_3

LINES OF CREDIT AND LONG-TERM LIABILITIES (Details Narrative) - USD ($)	Dec. 31, 2023	Oct. 05, 2023	Sep. 30, 2023	Aug. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revolving line of credit	$ 1,642,676	$ 5,000,000
Interest rate		3%
Revolving lline of credit	3,357,324
Loan origination costs	$ 54,400
Standstill Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revolving lline of credit				$ 5,000,000

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	2,458,053	2,343,016
Preferred stock, shares outstanding	2,393,953	2,278,916
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	1,055,636	1,045,783
Common stock, shares outstanding	1,055,636	1,045,783
Common stock shares, issued for service	9,853
Common stock value, issued for service	$ 40,000
Series 1 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	2,408,053	2,293,016
Preferred stock, shares outstanding	2,343,953	2,228,916
Preferred stock dividends shares	115,037
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	50,000	50,000
Preferred stock, shares outstanding	50,000	50,000

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 7,557	$ 39,842
Unrecognized compensation cost	$ 55,748

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - 3 months ended Dec. 31, 2023	USD ($) ft²	INR (₨) ft²	GBP (£) ft²
Industrial Services Segment [Member] | Emigsville [Member]
Product Liability Contingency [Line Items]
Area of land	15,500	15,500	15,500
Payments for rent | $	$ 4,555
Lease expiration date	Aug. 31, 2025	Aug. 31, 2025	Aug. 31, 2025
Security Segment [Member] | Pune [Member]
Product Liability Contingency [Line Items]
Area of land	6,700	6,700	6,700
Payments for rent	$ 6,453	₨ 456,972
Lease expiration date	Feb. 28, 2024	Feb. 28, 2024	Feb. 28, 2024
Security Segment [Member] | Hauppauge [Member]
Product Liability Contingency [Line Items]
Area of land	30,000	30,000	30,000
Payments for rent | $	$ 28,719
Lease expiration date	Mar. 31, 2027	Mar. 31, 2027	Mar. 31, 2027
Security Segment [Member] | Hampshire [Member]
Product Liability Contingency [Line Items]
Area of land	9,400	9,400	9,400
Payments for rent	$ 7,329		£ 5,771
Lease expiration date	Mar. 24, 2031	Mar. 24, 2031	Mar. 24, 2031

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	Feb. 12, 2024 USD ($) shares
Subsequent Event [Line Items]
Share repurchase program | shares	71,951
Share repurchase program, value | $	$ 69,705