NOTE 21– SUBSEQUENT EVENTS

Cemtrex has evaluated subsequent events up to the date the consolidated financial statements were issued. Centrex concluded that the following subsequent events have occurred and require recognition or disclosure in the consolidated financial statements.

Forgiveness of Payroll Protection Plan Loan

In November 2021, $971,500 in Payroll Protection Plan Loans were forgiven.

Preferred shares issued for dividend

On October 18, 2021, the Company issued 94,602 shares of its Series 1 Preferred Stock for dividends. The dividend was paid to shareholders of record as of September 30, 2021.

Common shares issued subsequent to financial statements date.

During October 2021, 2,891,016 shares of common stock were issued to satisfy $2,466,478 of notes payable and accumulated interest.