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NOTE 1 – ORGANIZATION Cemtrex was incorporated in 1998, in the state of Delaware and has evolved through strategic acquisitions and internal growth into a leading multi-industry technology company. The Company has expanded in a wide range of sectors, including smart technologies, virtual and augmented realities, industrial solutions, and intelligent security systems. Unless the context requires otherwise, all references to “we”, “our”, “us”, “Company”, “registrant”, “Cemtrex” or “management” refer to Cemtrex, Inc. and its subsidiaries. During fiscal 2019, the Company reached a strategic decision to exit the environmental products business, which was part of the Industrial Services Segment. Accordingly, the Company has reported the results of the environmental control products business as discontinued operations in the Consolidated Statements of Operations and in the Consolidated Balance Sheets. The Company presently has two business segments, consisting of (i) Advanced Technologies (AT) and (ii) Industrial Services (IS). Advanced Technologies (AT) Cemtrex’s Advanced Technologies segment operates several brands that deliver cutting-edge software and hardware technologies: <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">Vicon Industries – Vicon Industries, a majority owned subsidiary, provides end-to-end video 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 cutting edge, mission critical security and video surveillance solutions utilizing Artificial Intelligence (AI) based data algorithms.</td></tr> <tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">SmartDesk – SmartDesk is focused on reinventing the workspace through developing state-of-the-art, modern, fully integrated, workplace solutions. </td></tr> <tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">Cemtrex XR (“CXR”) – CXR is focused on realizing the potential of the metaverse. CXR delivers Virtual Reality (VR) and Augmented Reality (AR) solutions that provide higher productivity, progressive design and impactful experiences for consumer products, and various commercial and industrial applications. The Company is in the process of developing virtual reality applications for commercialization in the metaverse over the next couple years. CXR also invests in emerging startups focused on building best in class solutions for the metaverse. </td></tr> <tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">Virtual Driver Interactive (“VDI”) – VDI provides innovative driver training simulation solutions for effective and engaging learning for all ages and skills.</td></tr> <tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">Bravo Strong – Bravo Strong is a gaming and content studio working to building games and experiences for the metaverse.</td></tr> <tr style="vertical-align: top"> <td style="width: 0.5in"/><td style="width: 0.25in">-</td><td style="text-align: justify">good tech (formerly Cemtrex Labs) – good tech provides mobile, web, and enterprise software application development services for startups to large enterprises.</td></tr></table> Cemtrex Inc. and Subsidiaries Industrial Services (IS) Cemtrex’s IS segment operates through a brand, Advanced Industrial Services (“AIS”), that offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. We install high precision equipment in a wide variety of industrial markets like automotive, printing & graphics, industrial automation, packaging, and chemicals among others. We are a leading provider of reliability-driven maintenance and contracting solutions for the machinery, packaging, printing, chemical, and other manufacturing markets. The focus is on customers seeking to achieve greater asset utilization and reliability to cut costs and increase production from existing assets, including small projects, sustaining capital, turnarounds, maintenance, specialty welding services, and high-quality scaffolding. Acquisition of Virtual Driver Interactive On October 26, 2020, the company acquired Virtual Driver Interactive (“VDI”), a California based provider of innovative driver training simulation solutions for a purchase price of $<span id="xdx_90A_eus-gaap--BusinessCombinationConsiderationTransferred1_pp0p0_c20201025__20201026__us-gaap--BusinessAcquisitionAxis__custom--VirtualDriverInteractiveMember_zKiSgRqZn9hf" title="Purchase price of acquisition">1,339,774 plus contingent consideration of $175,428. For over 10 years, VDI has been known for its effective and engaging driver training systems, designed for users of all ages and skill levels. The Company offers comprehensive training for new teen and novice drivers, along with advanced training for corporate fleets and truck drivers. VDI’s wide range of training courses and system options provide customers with highly portable, affordable and effective solutions, all while focusing on the dangers of distracted driving. Results for VDI will be reported under the AT segment. The Company paid $900,000 in cash and issued a Note payable in the amount of $439,774. This note carries interest of 5% and is payable in two installments of $239,774 plus accumulated interest on October 26, 2021, and $200,000 plus accumulated interest on October 26, 2022. Additionally, the Company paid contingent consideration of $175,428 in May 2021. There is no further contingent consideration specified in the purchase agreement. The Company has accounted for this acquisition as a business combination and has allocated the purchase price as follows, $<span id="xdx_903_eus-gaap--BusinessCombinationConsiderationTransferred1_c20201025__20201026__us-gaap--BusinessAcquisitionAxis__custom--VirtualDriverInteractiveMember__us-gaap--FairValueByAssetClassAxis__custom--ProprietarySoftwareMember_zJvV73qfJeQb" title="Business combination, purchase price">876,820 to proprietary software, $<span id="xdx_908_eus-gaap--BusinessCombinationConsiderationTransferred1_c20201025__20201026__us-gaap--BusinessAcquisitionAxis__custom--VirtualDriverInteractiveMember__us-gaap--FairValueByAssetClassAxis__custom--InventoryMember_zaL9rjjAyn24">39,992 to inventory, and $<span id="xdx_90A_eus-gaap--BusinessCombinationConsiderationTransferred1_c20201025__20201026__us-gaap--BusinessAcquisitionAxis__custom--VirtualDriverInteractiveMember__us-gaap--FairValueByAssetClassAxis__us-gaap--GoodwillMember_zngCJRERhzZk">598,391 to goodwill. Strategic Investment On November 13, 2020, Cemtrex made a $500,000 investment via a simple agreement for future equity(“SAFE”) in MasterpieceVR. The SAFE provides that the Company will automatically receive shares of the entity based on the conversion rate of future equity rounds up to a valuation cap, as defined. MasterpieceVR is a software company that is developing software for content creation using virtual reality. The investment is included in other assets in the accompanying balance sheet and the Company accounts for this investment and recorded at cost. No impairment has been recorded for the year ended September 30, 2021. Going Concern Considerations The Company has incurred substantial losses over the past two fiscal years and has debt obligations over the next fiscal year that raise substantial doubt with respect to the Company’s ability to continue as a going concern. The Company has raised capital and will continue to reduce expenses through (i) issuance of notes and subsequent settlement of such notes with equity, (ii) equity offering to qualified investors and at-the-market offerings, (iii) review and improvement of our business processes for more efficiency, (iv) sale or reallocation of fixed assets held from exited business segments to raise capital or increase revenue in continuing business segments, (v) development of additional products for the Advanced Technologies segment to increase revenues, (vi) cost reductions to improve overall profitability in all segments. The Company believes that substantial doubt has been alleviated by management’s plans and that it has sufficient working capital to sustain operations for at least the next twelve months.

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NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. Basis of Presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Cemtrex Inc. and Subsidiaries Fiscal Year-End The Company elected September 30 as its fiscal year-end date. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, provisions for doubtful accounts receivable, net realizable value of inventory, warranty obligations, income tax accruals, deferred tax valuation and assessments of the recoverability of the Company’s long-lived assets. Actual results could differ from those estimates. Principles of Consolidation The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, Cemtrex Advanced Technologies Inc., Cemtrex XR Inc., Cemtrex Technologies Pvt. Ltd., and Advanced Industrial Services, Inc. and the Company’s majority owned subsidiary Vicon Industries, Inc. and its subsidiary, Vicon Systems, Ltd. All inter-company balances and transactions have been eliminated in consolidation. Carrying Value, Recoverability and Impairment of Long-Lived Assets The Company’s long-lived assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. When long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. The impairment charges, if any, is included in operating expenses in the accompanying statements of operations. Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. <p id="xdx_840_eus-gaap--ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_zq0eH9N9nmtb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and general economic conditions that may affect a client’s ability to pay. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company determines when receivables are past due or delinquent based on how recently payments have been received. Cemtrex Inc. and Subsidiaries The Company has $178,992 and $340,848 allowance for doubtful accounts at September 30, 2021, and 2020, respectively. The Company does not have any off-balance-sheet credit exposure to its customers at September 30, 2021, or 2020. Inventory and Cost of Goods Sold The Company values inventory, consisting of finished goods, at the lower of cost or market. Cost is determined on the first-in and first- out (“FIFO”) method. The Company reduces inventory for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, and (iii) competitive pricing pressures. The Company classifies inventory markdowns in the income statement as a component of cost of goods sold. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. There was $1,921,001 and $4,575,193 in inventory obsolescence reserve at September 30, 2021, and 2020, respectively. The decrease in inventory obsolescence is due to the disposal of out-of-date products. Property and Equipment Property and equipment is recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of property and equipment is computed by the straight-line method over the estimated useful lives of the respective assets, shown in the table below; <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center">Estimated Useful Life</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">(Years)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 72%">Building</td><td style="width: 2%"> </td> <td style="width: 26%; text-align: center"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20201001__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_zdn5aFHQtCqk" title="Property, plant and equipment, useful life">30</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: center">5</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer software</td><td> </td> <td style="text-align: center">7</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery and equipment</td><td> </td> <td style="text-align: center">7</td></tr> </table> Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations. Goodwill Goodwill is tested for impairment annually as of September 30. If circumstances change during interim periods between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying value, the Company will test goodwill for impairment. Factors that would necessitate an interim goodwill impairment assessment include prolonged negative industry or economic trends, or significant under-performance relative to expected, historical or projected future operating results. Management uses judgment to determine whether to use a qualitative analysis or a quantitative fair value measurement for its goodwill impairment testing. The Company’s fair value measurement approach combines the income and market valuation techniques for each of the Company’s reporting units that carry goodwill. These valuation techniques use estimates and assumptions including, but not limited to, the determination of appropriate market comparables, projected future cash flows (including timing and profitability), discount rate reflecting the risk inherent in future cash flows, perpetual growth rate, and projected future economic and market conditions. As permitted, if the reporting unit fails the impairment test, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standard Update (“ASU”) removing step two from the goodwill impairment test. If a reporting unit fails the quantitative impairment test, impairment expense is immediately recorded as the difference between the reporting unit’s fair value and carrying value. The Company adopted this standard effective October 1, 2020. Cemtrex Inc. and Subsidiaries For the years ended September 30, 2021, and 2020, there was no impairment of the Company’s goodwill. Leases On October 1, 2019, the Company adopted ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors may use the effective date method and elected certain practical expedients allowing the Company not to reassess: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">whether expired or existing contracts contain leases under the new definition of a lease;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">lease classification for expired or existing leases; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.</td></tr> </table> The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. Related Parties The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved b. description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Commitment and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Cemtrex Inc. and Subsidiaries Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. Revenue Recognition On October 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective transition method. Management determined that there was no cumulative effect adjustment to the consolidated financial statements and the adoption of the standard did not require any adjustments to the consolidated financial statements for prior periods. Under the guidance of the standard, revenue represents the amount received or receivable for goods and services supplied by the Company to its customers. Company recognizes revenue at the time a good or service is transferred to a customer and the customer obtains control of that good or receives the service performed. Most of the Company’s sales arrangements with customers are short-term in nature involving single performance obligations related to the delivery of goods or repair of equipment and generally provide for transfer of control at the time of shipment to the customer. The Company generally permits returns of product or repaired equipment due to defects; however, returns are historically insignificant. Billing terms vary by customer and product but generally do not exceed 90 days. In accordance with the authoritative guidance issued by the FASB on revenue recognition, the Company recognizes revenue from cost reimbursable contracts based on the services provided, typically represented by man-hours worked, and is measured by reference to agreed charge-out rates or to the estimated total contract revenue. Revenue from long-term fixed price contracts is recognized using the percentage-of-completion method, measured by reference to physical completion or the ratio of costs incurred to total estimated contract costs. If the outcome of a contract cannot be estimated reliably, as may be the case in the initial stages of completion of the contract, revenue is recognized only to the extent of the costs incurred that are expected to be recoverable. If a contract is expected to be loss-making, the expected amount of the loss is recognized immediately in the income statement. Revenue from short-term contracts is recognized when delivery has occurred, and collection of the resulting receivable is deemed probable. Timing of revenue recognition may differ from the timing of invoicing to customers. Billing terms vary by customer and product but generally do not exceed 90 days The Company records a liability when receiving cash in advance of delivering goods or services to the customer. This liability is reversed against the receivable recognized when those goods or services are delivered. The amounts were $2,472,137, $1,965,155, and $1,769,380, for the years ended September 30, 2021, 2020, and 2019 respectively. Warranties The Company provides for the estimated cost of product warranties at the time revenue is recognized. While the Company engages in product quality programs and processes, including monitoring and evaluating the quality of its component suppliers, its warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from its estimates, revisions to the estimated warranty liability may be required. Cemtrex Inc. and Subsidiaries Income Tax Provision The Company accounts for income taxes under ASC 740-10, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Consolidated Statements of Operations and Comprehensive Income in the period that includes the enactment date. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty (50) percent likelihood of being realized upon ultimate settlement. The Company will accrue for interest and penalties on income taxes when there is a likelihood that they will occur and can be reasonably estimated. The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying consolidated balance sheets, as well as tax credit carrybacks and carryforwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its consolidated balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions including the United States, India, and The United Kingdom, and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary. Uncertain Tax Positions For the years ended September 30, 2021, and 2020, the Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits. The Company will record any interest and/or penalties arising from uncertain tax provisions when they are likely to occur and reasonably estimable. Accounting for Share-Based Compensation The Company follows ASC 718 (“Share-Based Payment”), which requires that all share-based payments to employees, including stock options, stock appreciation rights (SARs) and common stock share awards, be recognized as compensation expense in the consolidated financial statements based on their fair values and over the requisite service period. The fair value for options granted was determined at the date of grant using a Black-Scholes valuation model and the straight-line attribution approach using the following weighted average assumptions: The risk-free interest rate used in the Black-Scholes valuation method is based on the implied yield currently available in U.S. Treasury securities at maturity with an equivalent term. Other than a one-time dividend paid in fiscal year 2017, the Company never declared or paid any cash dividends and does not currently expect to do so in the future. Expected volatility is based on the annualized daily historical volatility of the Company’s stock over a representative period. The weighted-average expected life represents the period over which stock-based awards are expected to be outstanding and was determined based on a number of factors, including historical weighted average and projected holding periods for the remaining unexercised shares, the contractual terms of the Company’s stock-based awards, vesting schedules and expectations of future employee behavior. Net Income (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. As of September 30, 2021, and 2020, the following items were excluded from the computation of diluted net loss per common share as their effect is anti-dilutive: <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLH7Eacn3kKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left">Warrants to purchase shares</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFpmUWEKI3A5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zkYCEpoOwazi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">950,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">945,833</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries Foreign Currency Translation Gain and Comprehensive Income (Loss) In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date. Revenues and expenses and cash flows are translated using an approximate weighted average exchange rate for the period. Resulting translation adjustments are recorded as a component of accumulated other comprehensive income on the accompanying consolidated balance sheet. For the years ending September 30, 2021, and September 30, 2020, comprehensive loss includes a gain of $996,100 and $57,639, respectively, which were entirely from foreign currency translation. As of and for the year ended September 30, 2021, and 2020 the Company used the following exchange rates. SCHEDULE OF FOREIGN CURRENCY EXCHANGE RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the three months ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Currency</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: left">Indian Rupee</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zRjSl6QmMgV8" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.013</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zGCA5XQ7AcJ5" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Great Britain Pound</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.287</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.248</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrWoFBhsrHM1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.346</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrhNLskxSyr8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.358</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Cash Flows Reporting The Company adopted uses the indirect or reconciliation method (“Indirect method”) as to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period. Subsequent Events The Company will evaluate subsequent events through the date when the financial statements were issued. It is the Company’s policy to disclose subsequent information that it feels is important to the context of the financial statements. Cemtrex Inc. and Subsidiaries <p id="xdx_84C_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zH6MDcV6B1r3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recently Issued Accounting Pronouncements Not Yet Effective On August 5, 2020, the Financial Accounting Standards Board (FASB) issued accounting standards update (ASU) No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). The amendments in the ASU remove certain separation models for convertible debt instruments and convertible preferred stock that require the separation of a convertible debt instrument into a debt component and an equity or derivative component. The ASU also amends the derivative scope exception guidance for contracts in an entity’s own equity. The amendments remove three settlement conditions that are required for equity contracts to qualify for the derivative scope exception. In addition to the above, the ASU expands disclosure requirements for convertible instruments and simplifies areas of the guidance for diluted earnings-per-share calculations that are impacted by the amendments. The ASU is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021. Early adoption is permitted. The FASB noted that an entity should adopt the guidance as of the beginning of its annual fiscal year. The standard is effective for the Company beginning in fiscal year October 1, 2022. Entities may elect to adopt the amendments through either a modified retrospective method of transition or a fully retrospective method of transition. If an entity has convertible instruments that include a down round feature, early adoption of the ASU is permitted for fiscal years beginning after December 15, 2020. ASU 2016-13 Measurement of Credit Losses on Financial Instrument is effective for fiscal years beginning after December 15, 2022. This is not expected to apply to the Company as financial instruments giving rise to credit risk are not utilized by the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements The Company does not believe that any other recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

Basis of Presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Cemtrex Inc. and Subsidiaries

Fiscal Year-End The Company elected September 30 as its fiscal year-end date.

Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, provisions for doubtful accounts receivable, net realizable value of inventory, warranty obligations, income tax accruals, deferred tax valuation and assessments of the recoverability of the Company’s long-lived assets. Actual results could differ from those estimates.

Principles of Consolidation The consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, Cemtrex Advanced Technologies Inc., Cemtrex XR Inc., Cemtrex Technologies Pvt. Ltd., and Advanced Industrial Services, Inc. and the Company’s majority owned subsidiary Vicon Industries, Inc. and its subsidiary, Vicon Systems, Ltd. All inter-company balances and transactions have been eliminated in consolidation.

Carrying Value, Recoverability and Impairment of Long-Lived Assets The Company’s long-lived assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. When long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. The impairment charges, if any, is included in operating expenses in the accompanying statements of operations.

Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents.

<p id="xdx_840_eus-gaap--ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_zq0eH9N9nmtb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and general economic conditions that may affect a client’s ability to pay. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company determines when receivables are past due or delinquent based on how recently payments have been received. Cemtrex Inc. and Subsidiaries The Company has $178,992 and $340,848 allowance for doubtful accounts at September 30, 2021, and 2020, respectively. The Company does not have any off-balance-sheet credit exposure to its customers at September 30, 2021, or 2020.

178992

340848

Inventory and Cost of Goods Sold The Company values inventory, consisting of finished goods, at the lower of cost or market. Cost is determined on the first-in and first- out (“FIFO”) method. The Company reduces inventory for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, and (iii) competitive pricing pressures. The Company classifies inventory markdowns in the income statement as a component of cost of goods sold. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. There was $1,921,001 and $4,575,193 in inventory obsolescence reserve at September 30, 2021, and 2020, respectively. The decrease in inventory obsolescence is due to the disposal of out-of-date products.

1921001

4575193

Property and Equipment Property and equipment is recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation of property and equipment is computed by the straight-line method over the estimated useful lives of the respective assets, shown in the table below; <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center">Estimated Useful Life</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: center">(Years)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 72%">Building</td><td style="width: 2%"> </td> <td style="width: 26%; text-align: center"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20201001__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_zdn5aFHQtCqk" title="Property, plant and equipment, useful life">30</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: center">5</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer software</td><td> </td> <td style="text-align: center">7</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery and equipment</td><td> </td> <td style="text-align: center">7</td></tr> </table> Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in statements of operations.

P30Y

P5Y

P7Y

Goodwill Goodwill is tested for impairment annually as of September 30. If circumstances change during interim periods between annual tests that would more likely than not reduce the fair value of a reporting unit below its carrying value, the Company will test goodwill for impairment. Factors that would necessitate an interim goodwill impairment assessment include prolonged negative industry or economic trends, or significant under-performance relative to expected, historical or projected future operating results. Management uses judgment to determine whether to use a qualitative analysis or a quantitative fair value measurement for its goodwill impairment testing. The Company’s fair value measurement approach combines the income and market valuation techniques for each of the Company’s reporting units that carry goodwill. These valuation techniques use estimates and assumptions including, but not limited to, the determination of appropriate market comparables, projected future cash flows (including timing and profitability), discount rate reflecting the risk inherent in future cash flows, perpetual growth rate, and projected future economic and market conditions. As permitted, if the reporting unit fails the impairment test, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standard Update (“ASU”) removing step two from the goodwill impairment test. If a reporting unit fails the quantitative impairment test, impairment expense is immediately recorded as the difference between the reporting unit’s fair value and carrying value. The Company adopted this standard effective October 1, 2020. Cemtrex Inc. and Subsidiaries For the years ended September 30, 2021, and 2020, there was no impairment of the Company’s goodwill.

Leases On October 1, 2019, the Company adopted ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors may use the effective date method and elected certain practical expedients allowing the Company not to reassess: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">whether expired or existing contracts contain leases under the new definition of a lease;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">lease classification for expired or existing leases; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt/115% Times New Roman, Times, Serif">●</td> <td style="font: 10pt/115% Times New Roman, Times, Serif">whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.</td></tr> </table> The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less.

Related Parties The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the nature of the relationship(s) involved b. description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

Commitment and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Cemtrex Inc. and Subsidiaries Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.

Revenue Recognition On October 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective transition method. Management determined that there was no cumulative effect adjustment to the consolidated financial statements and the adoption of the standard did not require any adjustments to the consolidated financial statements for prior periods. Under the guidance of the standard, revenue represents the amount received or receivable for goods and services supplied by the Company to its customers. Company recognizes revenue at the time a good or service is transferred to a customer and the customer obtains control of that good or receives the service performed. Most of the Company’s sales arrangements with customers are short-term in nature involving single performance obligations related to the delivery of goods or repair of equipment and generally provide for transfer of control at the time of shipment to the customer. The Company generally permits returns of product or repaired equipment due to defects; however, returns are historically insignificant. Billing terms vary by customer and product but generally do not exceed 90 days. In accordance with the authoritative guidance issued by the FASB on revenue recognition, the Company recognizes revenue from cost reimbursable contracts based on the services provided, typically represented by man-hours worked, and is measured by reference to agreed charge-out rates or to the estimated total contract revenue. Revenue from long-term fixed price contracts is recognized using the percentage-of-completion method, measured by reference to physical completion or the ratio of costs incurred to total estimated contract costs. If the outcome of a contract cannot be estimated reliably, as may be the case in the initial stages of completion of the contract, revenue is recognized only to the extent of the costs incurred that are expected to be recoverable. If a contract is expected to be loss-making, the expected amount of the loss is recognized immediately in the income statement. Revenue from short-term contracts is recognized when delivery has occurred, and collection of the resulting receivable is deemed probable. Timing of revenue recognition may differ from the timing of invoicing to customers. Billing terms vary by customer and product but generally do not exceed 90 days The Company records a liability when receiving cash in advance of delivering goods or services to the customer. This liability is reversed against the receivable recognized when those goods or services are delivered. The amounts were $2,472,137, $1,965,155, and $1,769,380, for the years ended September 30, 2021, 2020, and 2019 respectively.

2472137

1965155

1769380

Warranties The Company provides for the estimated cost of product warranties at the time revenue is recognized. While the Company engages in product quality programs and processes, including monitoring and evaluating the quality of its component suppliers, its warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from its estimates, revisions to the estimated warranty liability may be required. Cemtrex Inc. and Subsidiaries

Income Tax Provision The Company accounts for income taxes under ASC 740-10, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Consolidated Statements of Operations and Comprehensive Income in the period that includes the enactment date. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty (50) percent likelihood of being realized upon ultimate settlement. The Company will accrue for interest and penalties on income taxes when there is a likelihood that they will occur and can be reasonably estimated. The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying consolidated balance sheets, as well as tax credit carrybacks and carryforwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its consolidated balance sheets and provides valuation allowances as management deems necessary. Management makes judgments as to the interpretation of the tax laws that might be challenged upon an audit and cause changes to previous estimates of tax liability. In addition, the Company operates within multiple taxing jurisdictions including the United States, India, and The United Kingdom, and is subject to audit in these jurisdictions. In management’s opinion, adequate provisions for income taxes have been made for all years. If actual taxable income by tax jurisdiction varies from estimates, additional allowances or reversals of reserves may be necessary.

Uncertain Tax Positions For the years ended September 30, 2021, and 2020, the Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits. The Company will record any interest and/or penalties arising from uncertain tax provisions when they are likely to occur and reasonably estimable.

Accounting for Share-Based Compensation The Company follows ASC 718 (“Share-Based Payment”), which requires that all share-based payments to employees, including stock options, stock appreciation rights (SARs) and common stock share awards, be recognized as compensation expense in the consolidated financial statements based on their fair values and over the requisite service period. The fair value for options granted was determined at the date of grant using a Black-Scholes valuation model and the straight-line attribution approach using the following weighted average assumptions: The risk-free interest rate used in the Black-Scholes valuation method is based on the implied yield currently available in U.S. Treasury securities at maturity with an equivalent term. Other than a one-time dividend paid in fiscal year 2017, the Company never declared or paid any cash dividends and does not currently expect to do so in the future. Expected volatility is based on the annualized daily historical volatility of the Company’s stock over a representative period. The weighted-average expected life represents the period over which stock-based awards are expected to be outstanding and was determined based on a number of factors, including historical weighted average and projected holding periods for the remaining unexercised shares, the contractual terms of the Company’s stock-based awards, vesting schedules and expectations of future employee behavior.

Net Income (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. As of September 30, 2021, and 2020, the following items were excluded from the computation of diluted net loss per common share as their effect is anti-dilutive: <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLH7Eacn3kKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left">Warrants to purchase shares</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFpmUWEKI3A5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zkYCEpoOwazi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">950,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">945,833</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries

<p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLH7Eacn3kKi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS ANTI-DILUTIVE EFFECT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="6" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left">Warrants to purchase shares</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zFpmUWEKI3A5" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Net loss per common share anti-dilutive effect">433,965</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Options</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20201001__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zkYCEpoOwazi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">950,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20191001__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net loss per common share anti-dilutive effect">945,833</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

433965

950000

945833

Foreign Currency Translation Gain and Comprehensive Income (Loss) In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date. Revenues and expenses and cash flows are translated using an approximate weighted average exchange rate for the period. Resulting translation adjustments are recorded as a component of accumulated other comprehensive income on the accompanying consolidated balance sheet. For the years ending September 30, 2021, and September 30, 2020, comprehensive loss includes a gain of $996,100 and $57,639, respectively, which were entirely from foreign currency translation. As of and for the year ended September 30, 2021, and 2020 the Company used the following exchange rates. SCHEDULE OF FOREIGN CURRENCY EXCHANGE RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the three months ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Currency</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: left">Indian Rupee</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zRjSl6QmMgV8" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.013</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zGCA5XQ7AcJ5" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Great Britain Pound</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.287</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.248</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrWoFBhsrHM1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.346</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrhNLskxSyr8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.358</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

996100

57639

As of and for the year ended September 30, 2021, and 2020 the Company used the following exchange rates. SCHEDULE OF FOREIGN CURRENCY EXCHANGE RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Approximate weighted</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">average exchange rate</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the three months ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Exchange rate at</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">For the year ended</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Currency</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2021</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: left">Indian Rupee</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zRjSl6QmMgV8" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Exchange rate">0.013</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--IndainRupeesMember_zGCA5XQ7AcJ5" style="font: 10pt Times New Roman, Times, Serif; width: 19%; text-align: right" title="Approximate weighted average exchange rate">0.014</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Great Britain Pound</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.287</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--ApproximateWeightedAverageExchangeRate_c20200930__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.248</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrWoFBhsrHM1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Exchange rate">1.346</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_ecustom--ApproximateWeightedAverageExchangeRate_iI_c20211231__us-gaap--AwardTypeAxis__custom--GreatBritainPoundMember_zrhNLskxSyr8" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Approximate weighted average exchange rate">1.358</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

0.014

0.013

0.014

1.287

1.248

1.346

1.358 Cash Flows Reporting The Company adopted uses the indirect or reconciliation method (“Indirect method”) as to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. The Company reports the reporting currency equivalent of foreign currency cash flows, using the current exchange rate at the time of the cash flows and the effect of exchange rate changes on cash held in foreign currencies is reported as a separate item in the reconciliation of beginning and ending balances of cash and cash equivalents and separately provides information about investing and financing activities not resulting in cash receipts or payments in the period.

Subsequent Events The Company will evaluate subsequent events through the date when the financial statements were issued. It is the Company’s policy to disclose subsequent information that it feels is important to the context of the financial statements. Cemtrex Inc. and Subsidiaries

<p id="xdx_84C_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zH6MDcV6B1r3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recently Issued Accounting Pronouncements Not Yet Effective On August 5, 2020, the Financial Accounting Standards Board (FASB) issued accounting standards update (ASU) No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). The amendments in the ASU remove certain separation models for convertible debt instruments and convertible preferred stock that require the separation of a convertible debt instrument into a debt component and an equity or derivative component. The ASU also amends the derivative scope exception guidance for contracts in an entity’s own equity. The amendments remove three settlement conditions that are required for equity contracts to qualify for the derivative scope exception. In addition to the above, the ASU expands disclosure requirements for convertible instruments and simplifies areas of the guidance for diluted earnings-per-share calculations that are impacted by the amendments. The ASU is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021. Early adoption is permitted. The FASB noted that an entity should adopt the guidance as of the beginning of its annual fiscal year. The standard is effective for the Company beginning in fiscal year October 1, 2022. Entities may elect to adopt the amendments through either a modified retrospective method of transition or a fully retrospective method of transition. If an entity has convertible instruments that include a down round feature, early adoption of the ASU is permitted for fiscal years beginning after December 15, 2020. ASU 2016-13 Measurement of Credit Losses on Financial Instrument is effective for fiscal years beginning after December 15, 2022. This is not expected to apply to the Company as financial instruments giving rise to credit risk are not utilized by the Company. In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements The Company does not believe that any other recently issued but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying consolidated financial statements.

NOTE 3 – RESTATEMENTS OF FINANCIAL STATEMENTS Background On February 23, 2021, Cemtrex’s Board of Directors determined that certain transactions between Cemtrex Inc. and First Commercial, a company owned by former Executive Director, former Controlling Shareholder and former CFO, Aron Govil, were incorrectly handled and accounted for. The total amount of disputed transfers was approximately $<span id="xdx_90C_ecustom--DisputeAmount_c20210222__20210223__us-gaap--ChangeInAccountingEstimateByTypeAxis__us-gaap--DisputesMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Dispute amount">7,100,000 and occurred in fiscal year 2017 in the amount of $<span id="xdx_907_ecustom--DisputeAmount_c20161001__20170930__us-gaap--ChangeInAccountingEstimateByTypeAxis__us-gaap--DisputesMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Dispute amount">5,600,000 and in fiscal year 2018 in the amount of $<span id="xdx_901_ecustom--DisputeAmount_c20171001__20180930__us-gaap--ChangeInAccountingEstimateByTypeAxis__us-gaap--DisputesMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Dispute amount">1,500,000. Cemtrex did not find any other such transfers during this period or thereafter, upon further review of the Company’s records. Upon the Company’s investigation into this matter, the Company has determined that there were inaccuracies in the Company’s financial statements. The financials for the periods 2017 and 2018 were incorrect corresponding to the amounts that were incorrectly accounted for, and subsequent years were affected by the roll forward effects of these entries. The Company found unsupported advertising expenses in the amount of approximately $<span id="xdx_909_eus-gaap--AdvertisingExpense_c20171001__20180930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Advertising expenses">400,000 on Cemtrex Inc’s income statement for fiscal year 2018 and found that approximately $<span id="xdx_906_eus-gaap--IntangibleAssetsNetExcludingGoodwill_c20180930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Intangible asset">5,700,000 of intangible assets and $<span id="xdx_905_eus-gaap--ResearchAndDevelopmentExpense_c20171001__20180930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember_pp0p0" title="Research and development expenses">975,000 of research and development expenses, as translated at from Indian Rupee at the time, were recorded on Cemtrex India’s financial statements in fiscal year 2018 and could not be substantiated. The total amount of unsubstantiated transfers recorded by Cemtrex India, and the unsupported advertising expense recorded by Cemtrex, Inc. sums to $<span id="xdx_90B_eus-gaap--DueFromRelatedParties_c20210226__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Receivable from related party">7,100,000, corresponding with the total amount in question regarding First Commercial transfers during fiscal years 2017 and 2018. Cemtrex Inc. and Subsidiaries As part of the restatement investigation, it was determined that the Company did not follow GAAP in the treatment of its Series 1 Preferred dividends. The Company currently has a deficit in retained earnings and in accordance with guidance has reversed the accrual for dividends payable and placed the amount of the accrual back into retained earnings. In response to the above discussed restatements, the Company revisited its fiscal year 2020 financial statements. As a result, the following items have been restated, (i) inventory valuation, recognition of discontinued operations, accrued expenses, and accounts payable of the Company’s subsidiary Vicon Industries, Inc., (ii) fixed asset valuation and deferred revenue of the Company’s subsidiary Advanced Industrial Services, Inc., some of these valuation error dates to prior to acquisition of each entity. Position and Adjusting Entries The Company has determined that these transactions are not material in the years that they occurred and conclude that prior financial reports can be relied upon. The Company’s determination is based on the following: The adjustments do not cause any changes to the previously reported cash and debt balances as of the end of each of the periods in FY 2019 and 2020. The adjustments also do not cause any changes to revenues in any of the prior periods. In addition, the Company expects to maintain compliance with its debt covenants based on a preliminary review of the covenants for all the impacted periods. The Company has also determined that the adjustments have little effect on the trend of earnings over the last three fiscal years. <span id="xdx_905_eus-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsDescription_c20201001__20210630__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember" title="Error corrections and prior period adjustments, description">In 2017 the operations of the Company were vastly different with both the environmental and circuit board manufacturing segments accounting for approximately 75% of revenues. These businesses are now either sold or discontinued. The current reported 2017 financial statements of the Company do not give an accurate representation of the Company today because only 16% of the $120M business operations are still a part of current operations. The table below represents the balances of the affected accounts on the Condensed Consolidated Balance Sheets as of September 30, 2020, the Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) for the year ended September 30, 2020, Condensed Consolidated Statement of Stockholders’ Equity, and the Condensed Consolidated Statements of Cash Flows for the year ended September 30, 2020. Condensed Consolidated Balance Sheets SCHEDULE OF CONDENSED CONSOLIDATED BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_493_20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zqSHeYQaFK11" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Balance as reported on September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_494_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfNetValueOfIntangibleAssetsMember_z9J7Y3OSYF7g" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of intangible assets</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49F_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfResultingFromReauditMember_zTwtOLxDzCJ3" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment resulting from reaudit of Fiscal Year 2020 Financial Statements</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_491_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfNetValueofInventoryMember_z3XKnv8oC4bl" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of inventory</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_493_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentofNetValueofFixedAssetsMember_z5Ppe7tLqmc" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of fixed assets</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_497_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--CumulativeEffectOfRestatementAdjustmentsMember_zTVpzLmHA4Gb" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cumulative effect of restatement adjustments</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_495_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--LossOnAmountsTransferredToFirstCommercialMember_zUqfKacBVD02" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Loss on amounts transferred to First Commercial</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_496_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--RestatementOnDividendsMember_z4zaq2z3NCWh" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Restatement on Dividends</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49D_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--CumulativeEffectOfCurrencyTranslationMember_z3Disc7cMAeg" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cumulative effect of currency translation</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_497_20200930_zW2BAobCAOHe" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjusted balance at September 30, 2020</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr id="xdx_408_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_zeowIVEieSW3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: left">Cash and equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">19,490,061</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">(3,038</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 5%">19,487,023</td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zXwyBwryhzD8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepaid expenses and other assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,188,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(12,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,175,775</td></tr> <tr id="xdx_406_eus-gaap--OtherAssets_iI_zR9VSErAGaj6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">744,207</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(362,307</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">381,900</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iI_zZPcA71CfT82" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,558,936</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,597,185</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(987,901</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,973,850</td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iI_zORLINqIwrgl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Inventory –net of allowance for inventory obsolescence</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,793,806</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,847,349</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,946,457</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zrEx5xtuwso9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Goodwill</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,370,894</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,851,998</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,222,892</td></tr> <tr id="xdx_401_eus-gaap--AccountsPayableCurrent_iI_zIbzpLf6hMRd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,857,817</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,953,400</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,811,217</td></tr> <tr id="xdx_40B_eus-gaap--AccruedLiabilitiesCurrent_iI_zzqkYIkMDIOc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accrued expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,392,487</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(285,460</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,107,027</td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_zFgnHJdFofM7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,651,784</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(153,958</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,497,826</td></tr> <tr id="xdx_406_eus-gaap--OtherLiabilitiesNoncurrent_iI_zB5sVzw3xX6j" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other long-term liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,063,733</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(295,138</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">768,595</td></tr> <tr id="xdx_400_eus-gaap--DividendsPayableCurrentAndNoncurrent_iI_zlpl7yLl2lxg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Series 1 preferred stock dividends payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,081,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,081,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td></tr> <tr id="xdx_40D_eus-gaap--AdditionalPaidInCapital_iI_z1gR91Vt6ZHd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Additional paid-in capital</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">63,313,336</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3,091,570</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">60,221,766</td></tr> <tr id="xdx_40A_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zyAFP3MEO54a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Retained earnings (accumulated deficit)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(33,172,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,999,363</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,100,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,173,260</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">$(34,100,067)</td></tr> <tr id="xdx_406_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_zDtll7G8hiS6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated other comprehensive income</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">853,643</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">958,814</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,812,457</td></tr> </table> <p id="xdx_891_esrt--CondensedStatementOfComprehensiveIncomeTableTextBlock_zdfjoseJm9kj" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_498_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zDfo7LtipPg4"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z8Kf7oDRFZp7" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930_zN9AWBhD7rd2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLoss_zJJk6yUFjvSf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Net loss available to Cemtrex, Inc. shareholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(13,105,005</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">2,634,924</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(10,470,081</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_zoj6YpacP7Yk" style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">24,153,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,743,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">25,897,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_z9FH9prh6Wmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,570,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,206,938</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,363,728</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DividendsPreferredStock_zMjpXuTne917" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred dividends</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,171,230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,171,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsPerBasicShare_pid_z3jcNSIhsYWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Loss Per Share-Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.28</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.01</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsPerDilutedShare_pid_zFMoZhckXrRa" style="vertical-align: bottom; background-color: White"> <td>Loss Per Share-Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.28</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.01</td><td style="text-align: left">)</td></tr> </table> Cemtrex Inc. and Subsidiaries <p id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityTableTextBlock_zIk2EiSGVm7f" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statement of Stockholders’ Equity SCHEDULE OF CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Retained earnings (accumulated deficit) at September 30, 2019</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zhs3GMMOhY2a" style="width: 15%; text-align: right" title="Retained earnings (accumulated deficit), beginning balance">(20,067,685</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zqWpibuweF2h" style="width: 15%; text-align: right">(3,562,301</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930_zpzNIio9Q3mh" style="width: 15%; text-align: right">(23,629,986</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividends pad in series preferred shares</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zy8dgQfH4cxj" style="text-align: right" title="Dividends pad in series preferred shares">(2,089,540</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zpLBmx0Vbm5e" style="text-align: right">2,089,540</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930_zzhx8vBBX4b6" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued dividends</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--AccruedDividends_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zsdKOzBEyddk" style="text-align: right" title="Accrued dividends">(1,081,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--AccruedDividends_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zZvBxQ10jNXe" style="text-align: right">1,081,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--AccruedDividends_c20191001__20200930_zqxwtF95w33" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income/(loss)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--NetIncomesLoss_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zAcMwT3tov05" style="text-align: right" title="Net income/(loss)">(9,706,659</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--NetIncomesLoss_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zo6tYZrJqmoc" style="text-align: right" title="Net income/(loss)">(763,422</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--NetIncomesLoss_c20191001__20200930_zVjzQGFUpJq5" style="text-align: right" title="Net income/(loss)">(10,470,081</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Retained earnings (accumulated deficit) at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_z9Vahi8yQWhd" style="text-align: right" title="Retained earnings (accumulated deficit), ending balance">(33,172,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z0rslj8oNx5d" style="text-align: right">(927,377</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930_zDuDyzl3cqn9" style="text-align: right">(34,100,067</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated other comprehensive income/(loss)at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zzbeb8kwNJel" style="text-align: right" title="Accumulated other comprehensive income/(loss), beginning balance">796,004</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zXDUf8jEKMg" style="text-align: right">958,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930_zP6DzWNVVqH7" style="text-align: right">1,754,818</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign currency translation gain</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_z6xXEhfbJE5c" style="text-align: right" title="Foreign currency translation gain">22,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z6Q1JYNr2esk" style="text-align: right">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930_zCHniWIclE68" style="text-align: right">57,639</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income in noncontrolling interest</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zXhKqvWMT8Y6" style="text-align: right" title="Income in noncontrolling interest">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z4wZbrZAEm57" style="text-align: right" title="Income in noncontrolling interest">(35,345</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930_ziY0WecZarBj" style="text-align: right" title="Income in noncontrolling interest">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated other comprehensive income/(loss) at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zJZkDu7BLay" style="text-align: right" title="Accumulated other comprehensive income/(loss), ending balance">853,643</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zob82ocpEdhb" style="text-align: right">958,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930_z2ZYoGqmftz3" style="text-align: right">1,812,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zs7MI8eZCimg" style="text-align: right">40,344,837</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zpphfxVbZvi1" style="text-align: right">(1,002,030</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930_z96mug14k8Li" style="text-align: right">39,342,807</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zvBMSwYRY3Ac" style="text-align: right">63,313,336</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zfqfR2fbqqC1" style="text-align: right">(3,091,570</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930_zf08epW6MOQb" style="text-align: right">60,221,766</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Non-controlling interst of Vicon at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zdWHxJhxObrh" style="text-align: right" title="Non-controlling interst of Vicon, beginning balance">885,874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zLzhdmVVXb4k" style="text-align: right">(70,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930_zXMT8bH2Vs75" style="text-align: right">815,184</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income in noncontrolling interest</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zKFalYvGLkg8" style="text-align: right" title="Income in noncontrolling interest">191,771</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zay9GuhPcfmk" style="text-align: right">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930_zYgu7PmE9J5i" style="text-align: right">227,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Non-controlling interst of Vicon at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_ziQqjazj5Rkf" style="text-align: right" title="Non-controlling interst of Vicon, ending balance">1,077,645</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zW0asGKgxh75" style="text-align: right">(35,345</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930_zeAjNj59tpf3" style="text-align: right">1,042,300</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_893_esrt--ScheduleOfCondensedCashFlowStatementTableTextBlock_zx9fR27VYWlk" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statements of Cash Flows SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zjVVOeuJ2jBl"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zuu8RzQXMBJ5" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" id="xdx_49E_20191001__20200930_z2V8coHsOL4h" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(9,706,659</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(536,306</td><td style="width: 1%; text-align: left">) </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(10,242,965</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DepreciationDepletionAndAmortization_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,460,043</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(594,317</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,865,726</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInInventories_iN_di_zniOYQT268h8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,586,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,743,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">156,593</td><td style="text-align: left"/></tr> <tr id="xdx_408_eus-gaap--IncreaseDecreaseInAccruedLiabilities_zoARFGhAJXN9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(499,527</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(174,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(673,792</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_zLiPxcQh0vM5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net cash used by operating activities - continuing operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,786,202</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">438,356</td><td style="text-align: left"/><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,347,846</td><td style="text-align: left">)</td></tr> </table> On February 26, 2021, the Company entered into a Settlement Agreement and Release with Aron Govil regarding these transactions. <span id="xdx_903_eus-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsDescription_c20201001__20210630__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_zGDViSMv8lH3" title="Error corrections and prior period adjustments, description">As part of the Settlement Agreement, Mr. Govil was required to pay the Company consideration with a total value of $<span id="xdx_903_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210226__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_z5MM8lJZgF24" title="Receivable from related party">7,100,000 (the “Settlement Amount”) by entering into the Agreement. The Settlement Amount was satisfied in a combination of Mr. Govil forfeiting certain Preferred Stock and outstanding options and executing a secured note in the amount of $<span id="xdx_905_eus-gaap--StockRepurchasedDuringPeriodValue_c20210225__20210226__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Shares repurchased during period, value">1,533,280. The Independent Board of Directors in coordination with Management concluded the settlement represented fair value. In March 2021, Mr. Govil returned to the Company <span id="xdx_906_eus-gaap--StockRepurchasedDuringPeriodShares_c20210227__20210331__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pdd" title="Shares repurchased during period">1,000,000 shares of Series A Preferred Stock, <span id="xdx_906_eus-gaap--StockRepurchasedDuringPeriodShares_c20210225__20210331__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pdd" title="Shares repurchased during period">50,000 Shares of Series C Preferred Stock, <span id="xdx_900_eus-gaap--StockRepurchasedDuringPeriodShares_c20210225__20210331__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pdd" title="Shares repurchased during period">469,949 shares of Series 1 Preferred Stock, and forfeited all outstanding options to purchase shares of commons stock (collectively, the “Securities”). For the purposes of accounting recognition, the Company determined the fair value of the Series A, Series C, and Series 1 Preferred stock based on the closing trading value of the Series 1 Preferred Stock on the date of the agreement. The options surrendered were valued using the Black-Scholes option pricing model. The Company recognized the gain with respect to the surrendered Securities during this reporting period. The gain of $3,674,165 is reported as Settlement Agreement - Related Party on the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss). <span id="xdx_900_eus-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsDescription_c20210225__20210226__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_zXrRm1N3EpA8" title="Error corrections and prior period adjustments, description">As discussed above, Mr. Govil also executed a secured promissory note (the “Note”) in the amount of $<span id="xdx_906_eus-gaap--StockRepurchasedDuringPeriodValue_pp0p0_c20210225__20210226__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--IncorrectlyHandledAndAccountedMember__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_zfcPnarCJIag" title="Shares repurchased during period, value">1,533,280. The Note matures and is due in full in two years and bears interest at 9% per annum and is secured by all of Mr. Govil’s assets. Mr. Govil also agreed to sign an affidavit confessing judgment in the event of a default on the Note. While the Company believes the note is fully collectible, in accordance with ASC 450-30, Gain Contingencies, the Company determined the gain will not be recognized until the note is paid. Accordingly, the note and associated gain is not presented on the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss). Cemtrex Inc. and Subsidiaries 7100000 5600000 1500000

400000

5700000

975000

7100000

In 2017 the operations of the Company were vastly different with both the environmental and circuit board manufacturing segments accounting for approximately 75% of revenues. These businesses are now either sold or discontinued. The current reported 2017 financial statements of the Company do not give an accurate representation of the Company today because only 16% of the $120M business operations are still a part of current operations.

Condensed Consolidated Balance Sheets SCHEDULE OF CONDENSED CONSOLIDATED BALANCE SHEETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_493_20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zqSHeYQaFK11" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Balance as reported on September 30, 2020</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_494_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfNetValueOfIntangibleAssetsMember_z9J7Y3OSYF7g" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of intangible assets</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49F_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfResultingFromReauditMember_zTwtOLxDzCJ3" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment resulting from reaudit of Fiscal Year 2020 Financial Statements</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_491_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentOfNetValueofInventoryMember_z3XKnv8oC4bl" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of inventory</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_493_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--AdjustmentofNetValueofFixedAssetsMember_z5Ppe7tLqmc" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjustment of net value of fixed assets</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_497_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--CumulativeEffectOfRestatementAdjustmentsMember_zTVpzLmHA4Gb" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cumulative effect of restatement adjustments</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_495_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--LossOnAmountsTransferredToFirstCommercialMember_zUqfKacBVD02" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Loss on amounts transferred to First Commercial</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_496_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--RestatementOnDividendsMember_z4zaq2z3NCWh" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Restatement on Dividends</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49D_20200930__us-gaap--ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementByRestatementPeriodAndAmountAxis__custom--CumulativeEffectOfCurrencyTranslationMember_z3Disc7cMAeg" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Cumulative effect of currency translation</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_497_20200930_zW2BAobCAOHe" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Adjusted balance at September 30, 2020</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr id="xdx_408_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_zeowIVEieSW3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 21%; text-align: left">Cash and equivalents</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">19,490,061</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right">(3,038</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 5%">19,487,023</td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zXwyBwryhzD8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Prepaid expenses and other assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,188,317</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(12,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,175,775</td></tr> <tr id="xdx_406_eus-gaap--OtherAssets_iI_zR9VSErAGaj6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other Assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">744,207</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(362,307</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">381,900</td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_iI_zZPcA71CfT82" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">9,558,936</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,597,185</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(987,901</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,973,850</td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iI_zORLINqIwrgl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Inventory –net of allowance for inventory obsolescence</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,793,806</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,847,349</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,946,457</td></tr> <tr id="xdx_402_eus-gaap--Goodwill_iI_zrEx5xtuwso9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Goodwill</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,370,894</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,851,998</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7,222,892</td></tr> <tr id="xdx_401_eus-gaap--AccountsPayableCurrent_iI_zIbzpLf6hMRd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,857,817</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,953,400</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,811,217</td></tr> <tr id="xdx_40B_eus-gaap--AccruedLiabilitiesCurrent_iI_zzqkYIkMDIOc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accrued expenses</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,392,487</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(285,460</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2,107,027</td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_zFgnHJdFofM7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,651,784</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(153,958</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,497,826</td></tr> <tr id="xdx_406_eus-gaap--OtherLiabilitiesNoncurrent_iI_zB5sVzw3xX6j" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Other long-term liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,063,733</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(295,138</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">768,595</td></tr> <tr id="xdx_400_eus-gaap--DividendsPayableCurrentAndNoncurrent_iI_zlpl7yLl2lxg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Series 1 preferred stock dividends payable</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,081,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,081,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td></tr> <tr id="xdx_40D_eus-gaap--AdditionalPaidInCapital_iI_z1gR91Vt6ZHd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Additional paid-in capital</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">63,313,336</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(3,091,570</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">60,221,766</td></tr> <tr id="xdx_40A_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_zyAFP3MEO54a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Retained earnings (accumulated deficit)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(33,172,690</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,999,363</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,100,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,173,260</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">$(34,100,067)</td></tr> <tr id="xdx_406_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_zDtll7G8hiS6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Accumulated other comprehensive income</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">853,643</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">958,814</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,812,457</td></tr> </table>

19490061

-3038

19487023

1188317

-12542

1175775

744207

-362307

381900

9558936

-2597185

-987901

5973850

6793806

-1847349

4946457

4370894

2851998

7222892

2857817

1953400

4811217

2392487

-285460

2107027

1651784

-153958

1497826

1063733

-295138

768595

1081690

-1081690

63313336

-3091570

60221766

-33172690

1999363

-7100000

4173260

-34100067

853643

958814

1812457

<p id="xdx_891_esrt--CondensedStatementOfComprehensiveIncomeTableTextBlock_zdfjoseJm9kj" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_498_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zDfo7LtipPg4"> </td><td> </td><td> </td> <td colspan="2" id="xdx_497_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z8Kf7oDRFZp7" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930_zN9AWBhD7rd2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLoss_zJJk6yUFjvSf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Net loss available to Cemtrex, Inc. shareholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(13,105,005</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">2,634,924</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(10,470,081</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--CostOfRevenue_zoj6YpacP7Yk" style="vertical-align: bottom; background-color: White"> <td>Cost of revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">24,153,937</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,743,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">25,897,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_z9FH9prh6Wmd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">21,570,666</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,206,938</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20,363,728</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DividendsPreferredStock_zMjpXuTne917" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Preferred dividends</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,171,230</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,171,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsPerBasicShare_pid_z3jcNSIhsYWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Loss Per Share-Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.28</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.01</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsPerDilutedShare_pid_zFMoZhckXrRa" style="vertical-align: bottom; background-color: White"> <td>Loss Per Share-Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.28</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.27</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1.01</td><td style="text-align: left">)</td></tr> </table>

-13105005

2634924

-10470081

24153937

1743244

25897181

21570666

-1206938

20363728

3171230

-3171230

-1.28

0.27

-1.01

-1.28

0.27

-1.01

<p id="xdx_895_eus-gaap--ScheduleOfStockholdersEquityTableTextBlock_zIk2EiSGVm7f" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statement of Stockholders’ Equity SCHEDULE OF CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Retained earnings (accumulated deficit) at September 30, 2019</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zhs3GMMOhY2a" style="width: 15%; text-align: right" title="Retained earnings (accumulated deficit), beginning balance">(20,067,685</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zqWpibuweF2h" style="width: 15%; text-align: right">(3,562,301</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RetainedEarningsAccumulatedDeficit_iS_c20191001__20200930_zpzNIio9Q3mh" style="width: 15%; text-align: right">(23,629,986</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividends pad in series preferred shares</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zy8dgQfH4cxj" style="text-align: right" title="Dividends pad in series preferred shares">(2,089,540</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zpLBmx0Vbm5e" style="text-align: right">2,089,540</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--DividendsPreferredStockStock_iN_di_c20191001__20200930_zzhx8vBBX4b6" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued dividends</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--AccruedDividends_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zsdKOzBEyddk" style="text-align: right" title="Accrued dividends">(1,081,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_ecustom--AccruedDividends_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zZvBxQ10jNXe" style="text-align: right">1,081,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--AccruedDividends_c20191001__20200930_zqxwtF95w33" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net income/(loss)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--NetIncomesLoss_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zAcMwT3tov05" style="text-align: right" title="Net income/(loss)">(9,706,659</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--NetIncomesLoss_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zo6tYZrJqmoc" style="text-align: right" title="Net income/(loss)">(763,422</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--NetIncomesLoss_c20191001__20200930_zVjzQGFUpJq5" style="text-align: right" title="Net income/(loss)">(10,470,081</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Retained earnings (accumulated deficit) at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_z9Vahi8yQWhd" style="text-align: right" title="Retained earnings (accumulated deficit), ending balance">(33,172,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z0rslj8oNx5d" style="text-align: right">(927,377</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--RetainedEarningsAccumulatedDeficit_iE_c20191001__20200930_zDuDyzl3cqn9" style="text-align: right">(34,100,067</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accumulated other comprehensive income/(loss)at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zzbeb8kwNJel" style="text-align: right" title="Accumulated other comprehensive income/(loss), beginning balance">796,004</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zXDUf8jEKMg" style="text-align: right">958,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_c20191001__20200930_zP6DzWNVVqH7" style="text-align: right">1,754,818</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign currency translation gain</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_z6xXEhfbJE5c" style="text-align: right" title="Foreign currency translation gain">22,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z6Q1JYNr2esk" style="text-align: right">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_c20191001__20200930_zCHniWIclE68" style="text-align: right">57,639</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income in noncontrolling interest</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zXhKqvWMT8Y6" style="text-align: right" title="Income in noncontrolling interest">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_z4wZbrZAEm57" style="text-align: right" title="Income in noncontrolling interest">(35,345</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--OtherComprehensiveIncomeLossAttributableToNoncontrollingInterest_c20181001__20190930_ziY0WecZarBj" style="text-align: right" title="Income in noncontrolling interest">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accumulated other comprehensive income/(loss) at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zJZkDu7BLay" style="text-align: right" title="Accumulated other comprehensive income/(loss), ending balance">853,643</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zob82ocpEdhb" style="text-align: right">958,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_c20191001__20200930_z2ZYoGqmftz3" style="text-align: right">1,812,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additional paid-in capital at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zs7MI8eZCimg" style="text-align: right">40,344,837</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zpphfxVbZvi1" style="text-align: right">(1,002,030</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20181001__20190930_z96mug14k8Li" style="text-align: right">39,342,807</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Additional paid-in capital at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zvBMSwYRY3Ac" style="text-align: right">63,313,336</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zfqfR2fbqqC1" style="text-align: right">(3,091,570</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20191001__20200930_zf08epW6MOQb" style="text-align: right">60,221,766</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Non-controlling interst of Vicon at September 30, 2019</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zdWHxJhxObrh" style="text-align: right" title="Non-controlling interst of Vicon, beginning balance">885,874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zLzhdmVVXb4k" style="text-align: right">(70,690</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--NetIncomeLossAttributableToVicon_iS_c20191001__20200930_zXMT8bH2Vs75" style="text-align: right">815,184</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income in noncontrolling interest</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zKFalYvGLkg8" style="text-align: right" title="Income in noncontrolling interest">191,771</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zay9GuhPcfmk" style="text-align: right">35,345</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_ecustom--IncomeInNoncontrollingInterest_c20191001__20200930_zYgu7PmE9J5i" style="text-align: right">227,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Non-controlling interst of Vicon at September 30, 2020</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_ziQqjazj5Rkf" style="text-align: right" title="Non-controlling interst of Vicon, ending balance">1,077,645</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zW0asGKgxh75" style="text-align: right">(35,345</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--NetIncomeLossAttributableToVicon_iE_c20191001__20200930_zeAjNj59tpf3" style="text-align: right">1,042,300</td><td style="text-align: left"> </td></tr> </table>

-20067685

-3562301

-23629986

2089540

-2089540

-1081690 1081690 -9706659 -763422 -10470081

-33172690

-927377

-34100067

796004

958814

1754818

22294

35345

57639

35345 -35345

853643

958814

1812457

40344837

-1002030

39342807

63313336

-3091570

60221766

885874 -70690 815184 191771 35345 227116 1077645 -35345 1042300 <p id="xdx_893_esrt--ScheduleOfCondensedCashFlowStatementTableTextBlock_zx9fR27VYWlk" style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Condensed Consolidated Statements of Cash Flows SCHEDULE OF CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--ScenarioPreviouslyReportedMember_zjVVOeuJ2jBl"> </td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001__20200930__us-gaap--ReclassificationTypeAxis__srt--RestatementAdjustmentMember_zuu8RzQXMBJ5" style="text-align: center">For the year ended</td><td> </td><td> </td> <td colspan="2" id="xdx_49E_20191001__20200930_z2V8coHsOL4h" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Previously reported</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjustments</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Adjusted</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 43%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(9,706,659</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(536,306</td><td style="width: 1%; text-align: left">) </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(10,242,965</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--DepreciationDepletionAndAmortization_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,460,043</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(594,317</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,865,726</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInInventories_iN_di_zniOYQT268h8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,586,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,743,244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">156,593</td><td style="text-align: left"/></tr> <tr id="xdx_408_eus-gaap--IncreaseDecreaseInAccruedLiabilities_zoARFGhAJXN9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(499,527</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(174,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(673,792</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_zLiPxcQh0vM5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net cash used by operating activities - continuing operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,786,202</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">438,356</td><td style="text-align: left"/><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,347,846</td><td style="text-align: left">)</td></tr> </table>

-9706659

-536306

-10242965

2460043

-594317

1865726

1586651

-1743244

-156593

-499527

-174265

-673792

-3786202

438356

-3347846

As part of the Settlement Agreement, Mr. Govil was required to pay the Company consideration with a total value of $7,100,000 (the “Settlement Amount”) by entering into the Agreement. The Settlement Amount was satisfied in a combination of Mr. Govil forfeiting certain Preferred Stock and outstanding options and executing a secured note in the amount of $1,533,280. The Independent Board of Directors in coordination with Management concluded the settlement represented fair value.

7100000

1533280

1000000

50000

469949

3674165

As discussed above, Mr. Govil also executed a secured promissory note (the “Note”) in the amount of $1,533,280. The Note matures and is due in full in two years and bears interest at 9% per annum and is secured by all of Mr. Govil’s assets. Mr. Govil also agreed to sign an affidavit confessing judgment in the event of a default on the Note.

1533280

NOTE 4 PURCHASED ASSETS AND INVESTMENTS On February 21, 2020, the Company purchased 71,429 shares for $500,000. The Company now owns approximately 95% of Vicon’s outstanding shares of common stock.

71429

500000

The Company now owns approximately 95% of Vicon’s outstanding shares of common stock

NOTE 5 – DISCONTINUED OPERATIONS During fiscal 2019, the Company reached a strategic decision to exit the environmental products business, which was part of Industrial Services group. Accordingly, the Company has reported the results of the environmental control products business as discontinued operations in the Consolidated Statements of Operations and in the Consolidated Balance Sheets. During fiscal 2021, the Company made the final determination on it inactive entities and have written off all assets and liabilities of these entities <p id="xdx_896_eus-gaap--ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_zeR3oHa6xBtl" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">Assets and liabilities included within discontinued operations on the Company’s Consolidated Balance Sheets at September 30, 2021 and 2020 are as follows; SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20210930" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20200930" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"/><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2020</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableRelatedParty_iI_pp0p0_maAODGIz9oz_zqTy3SyxlDRg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 64%; text-align: left; padding-bottom: 1.5pt">Trade receivables - related party</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">544,500</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_iTI_pp0p0_mtAODGIz9oz_maAODGIzQ5T_zc3p8Sk2twki" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left">Total current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">544,500</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent_iI_pp0p0_maAODGIzQ5T_zwABocGOMMJ2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DisposalGroupIncludingDiscontinuedOperationAssetsHeldForSale_iI_pp0p0_maAODGIzQ5T_zWU8qiYSssh5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Assetss held for sale</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,323,321</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_iTI_pp0p0_mtAODGIzQ5T_zxGqBgFIi0Gj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">8,867,821</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_iI_pp0p0_maLODGIzXUD_zTvAddd5f0s3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Accounts payable</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_iTI_pp0p0_mtLODGIzXUD_z8WSrB06xCE7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total liabilities</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">263,832</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries Loss from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of Centrex, LTD, IQInVision, Vicon Deutschland GmbH, Vicon Systems Ltd., and Griffin Filters are presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the years ended September 30, are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_492_20201001_20210930" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001_20200930" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationRevenue_maILFDOzBAa_zw640OkYxaD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total net sales</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_msILFDOzBAa_zNh3wCLrLge6" style="vertical-align: bottom; background-color: White"> <td>Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense_msILFDOzBAa_zDPnv8SSMY83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating, selling, general and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,280,047</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">812,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherExpense_msILFDOzBAa_zts6lURHYpO2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other expenses</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_iT_mtILFDOzBAa_zNxSqPuc6pt8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income (loss) from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,280,047</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(812,895</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_z7Ss8Y5Yve4h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on sale of discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DiscontinuedOperationTaxExpenseBenefitFromProvisionForGainLossOnDisposal_zCX8qfGmrr9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax provision</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax_zy1fcCjvsFXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discontinued operations, net of tax</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,280,047</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(812,895</td><td style="text-align: left">)</td></tr> </table>

<p id="xdx_896_eus-gaap--ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_zeR3oHa6xBtl" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">Assets and liabilities included within discontinued operations on the Company’s Consolidated Balance Sheets at September 30, 2021 and 2020 are as follows; SCHEDULE OF DISPOSAL GROUPS, INCLUDING DISCONTINUED OPERATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20210930" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20200930" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30,</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"/><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2021</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2020</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableRelatedParty_iI_pp0p0_maAODGIz9oz_zqTy3SyxlDRg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; width: 64%; text-align: left; padding-bottom: 1.5pt">Trade receivables - related party</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">544,500</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_iTI_pp0p0_mtAODGIz9oz_maAODGIzQ5T_zc3p8Sk2twki" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt; text-align: left">Total current assets</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">544,500</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent_iI_pp0p0_maAODGIzQ5T_zwABocGOMMJ2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment, net</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DisposalGroupIncludingDiscontinuedOperationAssetsHeldForSale_iI_pp0p0_maAODGIzQ5T_zWU8qiYSssh5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Assetss held for sale</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,323,321</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_iTI_pp0p0_mtAODGIzQ5T_zxGqBgFIi0Gj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"> -</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">8,867,821</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Current liabilities</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent_iI_pp0p0_maLODGIzXUD_zTvAddd5f0s3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Accounts payable</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation_iTI_pp0p0_mtLODGIzXUD_z8WSrB06xCE7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total liabilities</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">263,832</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries Loss from discontinued operations, net of tax and the loss on sale of discontinued operations, net of tax, of Centrex, LTD, IQInVision, Vicon Deutschland GmbH, Vicon Systems Ltd., and Griffin Filters are presented in total as discontinued operations, net of tax in the Company’s Consolidated Statements of Operations for the years ended September 30, are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_492_20201001_20210930" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" id="xdx_49B_20191001_20200930" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--DisposalGroupIncludingDiscontinuedOperationRevenue_maILFDOzBAa_zw640OkYxaD" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total net sales</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold_msILFDOzBAa_zNh3wCLrLge6" style="vertical-align: bottom; background-color: White"> <td>Cost of sales</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense_msILFDOzBAa_zDPnv8SSMY83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating, selling, general and administrative expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">8,280,047</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">812,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherExpense_msILFDOzBAa_zts6lURHYpO2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other expenses</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity_iT_mtILFDOzBAa_zNxSqPuc6pt8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income (loss) from discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(8,280,047</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(812,895</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_z7Ss8Y5Yve4h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loss on sale of discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DiscontinuedOperationTaxExpenseBenefitFromProvisionForGainLossOnDisposal_zCX8qfGmrr9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income tax provision</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax_zy1fcCjvsFXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Discontinued operations, net of tax</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,280,047</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(812,895</td><td style="text-align: left">)</td></tr> </table>

544500

8323321

8867821

263832

8280047

812895

-8280047

-812895

-8280047

-812895

NOTE 6 – SEGMENT AND GEOGRAPHIC INFORMATION The Company reports and evaluates financial information for two segments: Advanced Technologies (AT) segment, and the Industrial Services (IS) segment. The AT segment develops smart devices and provides progressive design and development solutions to create impactful experiences for mobile, web, virtual and augmented reality, wearables and television as well as providing cutting edge, mission critical security and video surveillance. The IS segment offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers in USA in industries such as: chemical, steel, printing, construction, & petrochemical. Cemtrex Inc. and Subsidiaries The following tables summarize the Company’s segment information: SCHEDULE OF SEGMENT INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the years ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenues from external customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Advanced Technologies</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total revenues">24,154,488</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total revenues">25,750,684</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">18,976,446</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">17,767,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total revenues</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">43,130,934</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">43,518,384</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--GrossProfit_pp0p0_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_zxCyd82xCAw2" style="text-align: right" title="Total gross profit">10,591,956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zKBkLUV3a75i" style="text-align: right" title="Total gross profit">11,181,127</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--GrossProfit_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">6,376,396</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zf4gGoY8Xsvd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">6,440,076</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total gross profit</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--GrossProfit_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">16,968,352</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zBdVAoTZUHa1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">17,621,203</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total operating loss">(9,793,851</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zfkRarMCN5b6" style="text-align: right" title="Total operating loss">(3,278,873</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">1,052,031</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zrVnLt7UMzah" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(1,290,938</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total operating loss</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(8,741,820</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zna183GsR8oh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(4,569,811)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total other expense">4,891,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total other expense">(2,588,609</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">4,619,048</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">(197,815</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total other expense</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">9,511,032</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">(2,786,424</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--DepreciationAndAmortization_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total depreciation and amortization">515,465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z1hHuq8N0puk" style="text-align: right" title="Total depreciation and amortization">643,427</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DepreciationAndAmortization_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">819,724</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zwlimW1glYca" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,222,299</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total depreciation and amortization</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--DepreciationAndAmortization_pp0p0_c20201001__20210930_z0c5qLvm6off" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,335,189</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zvpuZs7nrSl6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,865,726</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Advanced Technologies</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--Assets_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total Assets">33,850,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zFLIp6bxbdnh" style="width: 16%; text-align: right" title="Total Assets">37,311,047</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="text-align: right" title="Total Assets">19,089,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zoZhPTdloZjl" style="text-align: right" title="Total Assets">14,650,280</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Discontinued operations</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_c20210930__us-gaap--StatementOperatingActivitiesSegmentAxis__us-gaap--SegmentDiscontinuedOperationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total Assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementOperatingActivitiesSegmentAxis__us-gaap--SegmentDiscontinuedOperationsMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zXvnPVMAMYQh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total Assets">8,867,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">52,939,888</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iI_pp0p0_c20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zfa4j7vGLB8i" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">60,829,148</td><td style="text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries <p id="xdx_892_eus-gaap--ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_zOKwrENLDGQ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The Company generates revenue from product sales and services from its subsidiaries located in the United States, The United Kingdom, and India. Revenue and long-lived asset information for the Company is as follows: SCHEDULE OF REVENUE FROM PRODUCT SALES AND SERVICES FROM ITS SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Revenues</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">U.S. Operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Revenues">39,081,703</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Revenues">40,211,773</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-U.S. Operations</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">4,049,231</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">3,306,611</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20201001__20210930_zSkjGfOjkkh8" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenues">43,130,934</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20191001__20200930_zVfRxzj56iw7" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenues">43,518,384</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left">Long-lived Assets</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-left: 10pt">U.S. Operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentNet_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Long-lived Assets">6,584,161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Long-lived Assets">5,805,696</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Non-U.S. Operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-lived Assets">154,783</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-lived Assets">168,154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentNet_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-lived Assets">6,738,944</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20200930_zWGsBBv5Toqf" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-lived Assets">5,973,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following tables summarize the Company’s segment information: SCHEDULE OF SEGMENT INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the years ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenues from external customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Advanced Technologies</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total revenues">24,154,488</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total revenues">25,750,684</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">18,976,446</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">17,767,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total revenues</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">43,130,934</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total revenues">43,518,384</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--GrossProfit_pp0p0_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_zxCyd82xCAw2" style="text-align: right" title="Total gross profit">10,591,956</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zKBkLUV3a75i" style="text-align: right" title="Total gross profit">11,181,127</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--GrossProfit_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">6,376,396</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zf4gGoY8Xsvd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">6,440,076</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total gross profit</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--GrossProfit_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">16,968,352</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--GrossProfit_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zBdVAoTZUHa1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total gross profit">17,621,203</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total operating loss">(9,793,851</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zfkRarMCN5b6" style="text-align: right" title="Total operating loss">(3,278,873</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">1,052,031</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zrVnLt7UMzah" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(1,290,938</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total operating loss</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingIncomeLoss_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(8,741,820</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingIncomeLoss_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zna183GsR8oh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating loss">(4,569,811)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total other expense">4,891,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total other expense">(2,588,609</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">4,619,048</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">(197,815</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total other expense</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--NonoperatingIncomeExpense_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">9,511,032</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_980_eus-gaap--NonoperatingIncomeExpense_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other expense">(2,786,424</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Depreciation and Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(restated)</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Advanced Technologies</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--DepreciationAndAmortization_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="text-align: right" title="Total depreciation and amortization">515,465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z1hHuq8N0puk" style="text-align: right" title="Total depreciation and amortization">643,427</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--DepreciationAndAmortization_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">819,724</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zwlimW1glYca" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,222,299</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Total depreciation and amortization</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--DepreciationAndAmortization_pp0p0_c20201001__20210930_z0c5qLvm6off" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,335,189</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--DepreciationAndAmortization_pp0p0_c20191001__20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zvpuZs7nrSl6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total depreciation and amortization">1,865,726</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Identifiable Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Advanced Technologies</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--Assets_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember_pp0p0" style="width: 16%; text-align: right" title="Total Assets">33,850,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zFLIp6bxbdnh" style="width: 16%; text-align: right" title="Total Assets">37,311,047</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Industrial Services</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember_pp0p0" style="text-align: right" title="Total Assets">19,089,392</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--IndustrialServicesMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zoZhPTdloZjl" style="text-align: right" title="Total Assets">14,650,280</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Discontinued operations</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_c20210930__us-gaap--StatementOperatingActivitiesSegmentAxis__us-gaap--SegmentDiscontinuedOperationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total Assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_iI_pp0p0_c20200930__us-gaap--StatementOperatingActivitiesSegmentAxis__us-gaap--SegmentDiscontinuedOperationsMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zXvnPVMAMYQh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total Assets">8,867,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--Assets_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">52,939,888</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--Assets_iI_pp0p0_c20200930__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zfa4j7vGLB8i" style="border-bottom: Black 2.5pt double; text-align: right" title="Total Assets">60,829,148</td><td style="text-align: left"> </td></tr> </table>

24154488

25750684

18976446

17767700

43130934

43518384

10591956

11181127

6376396

6440076

16968352

17621203

-9793851

-3278873

1052031

-1290938

-8741820

-4569811

4891984

-2588609

4619048

-197815

9511032

-2786424

515465

643427

819724

1222299

1335189

1865726

33850496

37311047

19089392

14650280

8867821

52939888

60829148

<p id="xdx_892_eus-gaap--ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_zOKwrENLDGQ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">The Company generates revenue from product sales and services from its subsidiaries located in the United States, The United Kingdom, and India. Revenue and long-lived asset information for the Company is as follows: SCHEDULE OF REVENUE FROM PRODUCT SALES AND SERVICES FROM ITS SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Revenues</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">U.S. Operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Revenues">39,081,703</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Revenues">40,211,773</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-U.S. Operations</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">4,049,231</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20191001__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">3,306,611</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20201001__20210930_zSkjGfOjkkh8" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenues">43,130,934</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20191001__20200930_zVfRxzj56iw7" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenues">43,518,384</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left">Long-lived Assets</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: right"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-left: 10pt">U.S. Operations</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentNet_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Long-lived Assets">6,584,161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--UnitedStatesMember_pp0p0" style="width: 16%; text-align: right" title="Long-lived Assets">5,805,696</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Non-U.S. Operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-lived Assets">154,783</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentNet_c20200930__us-gaap--StatementBusinessSegmentsAxis__custom--NonUSLocationsMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Long-lived Assets">168,154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentNet_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-lived Assets">6,738,944</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20200930_zWGsBBv5Toqf" style="border-bottom: Black 2.5pt double; text-align: right" title="Long-lived Assets">5,973,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

39081703

40211773

4049231

3306611

43130934

43518384

6584161

5805696

154783

168154

6738944

5973850

NOTE 7 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy is applied to prioritize the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under the guidance for fair value measurements are described below: Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Our Level 1 assets include cash equivalents, banker’s acceptances, trading securities investments and investment funds. We measure trading securities investments and investment funds at quoted market prices as they are traded in an active market with sufficient volume and frequency of transactions. Level 2 — Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified contractual term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. Level 3 assets and liabilities include cost method investments, goodwill, intangible assets, and property, plant and equipment, which are measured at fair value using a discounted cash flow approach when they are impaired. Quantitative information for Level 3 assets and liabilities reviewed at each reporting period includes indicators of significant deterioration in the earnings performance, credit rating, asset quality, business prospects of the investee, and financial indicators of the investee’s ability to continue as a going concern. Cemtrex Inc. and Subsidiaries The Company’s fair value assets for the years ended September 30, 2021, and 2020, are as follows; SCHEDULE OF FAIR VALUE OF ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Quoted Prices in Active</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Markets for</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Other</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Balance</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Identical</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Observable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unobservable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">as of</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Assets</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">June 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Investment in marketable securities (included in short-term investments)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">14,981</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">14,981</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">14,981</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">14,981</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Quoted Prices in Active</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Markets for</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Other</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Balance</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Identical</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Observable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unobservable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">as of</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Assets</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt; width: 36%; text-align: left">(included in short-term investments)</td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_z2G7AZgFDSxi" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right">887,746</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_z84MomHGtU01" style="border-bottom: Black 1.5pt solid; text-align: right; width: 12%">-</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_zVLXLXOXvlHd" style="border-bottom: Black 1.5pt solid; text-align: right; width: 12%">-</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_zT9eek6SiVsa" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right">887,746</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zsrBBXAX7Vfe" style="border-bottom: Black 2.5pt double; text-align: right">887,746</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zsD3qIZhqmvk" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zGGwfTay3pCc" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930_zuflMGiMXTth" style="border-bottom: Black 2.5pt double; text-align: right">887,746</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The Company’s fair value assets for the years ended September 30, 2021, and 2020, are as follows; SCHEDULE OF FAIR VALUE OF ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Quoted Prices in Active</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Markets for</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Other</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Balance</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Identical</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Observable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unobservable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">as of</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Assets</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">June 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: left">Investment in marketable securities (included in short-term investments)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">14,981</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_pp0p0" style="width: 10%; text-align: right" title="Fair value assets">14,981</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">14,981</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair value assets">14,981</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Quoted Prices in Active</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td><td> </td> <td colspan="2" style="text-align: center"/><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Markets for</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Other</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Significant</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Balance</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Identical</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Observable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Unobservable</td><td> </td><td> </td> <td colspan="2" style="text-align: center">as of</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Assets</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Inputs</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 1)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 2)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">(Level 3)</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Investment in marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 10pt; width: 36%; text-align: left">(included in short-term investments)</td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_z2G7AZgFDSxi" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right">887,746</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_z84MomHGtU01" style="border-bottom: Black 1.5pt solid; text-align: right; width: 12%">-</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_zVLXLXOXvlHd" style="border-bottom: Black 1.5pt solid; text-align: right; width: 12%">-</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--InvestmentTypeAxis__custom--MarketableSecuritiesMember_zT9eek6SiVsa" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right">887,746</td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zsrBBXAX7Vfe" style="border-bottom: Black 2.5pt double; text-align: right">887,746</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zsD3qIZhqmvk" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zGGwfTay3pCc" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_pp0p0_c20200930_zuflMGiMXTth" style="border-bottom: Black 2.5pt double; text-align: right">887,746</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

14981

887746

NOTE 8 – 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 $1,601,932 as of September 30, 2021. Additionally, the Company has a standby letter of credit for deposit on a building lease and payable against. a money market account, the amount of the standby letter of credit is $157,415.

1601932

157415

NOTE 9 – ACCOUNTS RECEIVABLE, NET Accounts receivable, net consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_492_20210930_zShP45XeJs6l" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20200930_zvQJh025Lql6" style="text-align: center">September 30,</td><td> </td> <td> </td> <td colspan="2" id="xdx_49D_20190930_zGuwlg7Wguhh"> September 30, </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2019</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableGrossCurrent_iI_pp0p0_maARNCzZ7g_zdOje9oXkdLj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,989,888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,027,645</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 14%">7,065,035</td> <td style="width: 1%"> </td></tr> <tr id="xdx_406_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_pp0p0_di_msARNCzZ7g_zry8CaxGvzCj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Allowance for doubtful accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(178,992</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(340,848</td><td style="padding-bottom: 1.5pt; text-align: left">)</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"/> <td style="border-bottom: Black 1.5pt solid; text-align: right">(606,051</td> <td style="padding-bottom: 1.5pt">)</td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNetCurrent_iTI_pp0p0_mtARNCzZ7g_zjqlmMw1Vvsi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Accounts receivables, net, total </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,810,896</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,686,797</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">6,458,984</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> Accounts receivable include amounts due for shipped products and services rendered. Allowance for doubtful accounts include estimated losses resulting from the inability of our customers to make required payments.

Accounts receivable, net consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_492_20210930_zShP45XeJs6l" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" id="xdx_496_20200930_zvQJh025Lql6" style="text-align: center">September 30,</td><td> </td> <td> </td> <td colspan="2" id="xdx_49D_20190930_zGuwlg7Wguhh"> September 30, </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2019</td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableGrossCurrent_iI_pp0p0_maARNCzZ7g_zdOje9oXkdLj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,989,888</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,027,645</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 14%">7,065,035</td> <td style="width: 1%"> </td></tr> <tr id="xdx_406_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_pp0p0_di_msARNCzZ7g_zry8CaxGvzCj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; text-align: left">Allowance for doubtful accounts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(178,992</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(340,848</td><td style="padding-bottom: 1.5pt; text-align: left">)</td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid"/> <td style="border-bottom: Black 1.5pt solid; text-align: right">(606,051</td> <td style="padding-bottom: 1.5pt">)</td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNetCurrent_iTI_pp0p0_mtARNCzZ7g_zjqlmMw1Vvsi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Accounts receivables, net, total </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,810,896</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,686,797</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">6,458,984</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

7989888

7027645

7065035

178992

340848

606051

7810896

6686797

6458984

NOTE 10 – INVENTORY, NET Inventory, net of reserves, consist of the following: SCHEDULE OF INVENTORY, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_494_20210930_zAiDcM5HZgW3" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" id="xdx_49D_20200930_zpMFJcis5b74" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">Restated</td><td> </td></tr> <tr id="xdx_403_eus-gaap--InventoryRawMaterials_iI_pp0p0_maIGzAKk_znwTz74HMNJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,957,410</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,959,888</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryWorkInProcess_iI_pp0p0_maIGzAKk_zBxIGoKrcSbk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">429,871</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,069,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_pp0p0_maIGzAKk_zc1HZrwuIch8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,191,007</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,717,519</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryGross_iTI_pp0p0_mtIGzAKk_maINzyXo_zjxwz2Oo0JDa" style="vertical-align: bottom; background-color: White"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,578,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,746,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryAdjustments_iNI_pp0p0_di_msINzyXo_znA3sFpx9yea" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Allowance for inventory obsolescence</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,921,001</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,800,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InventoryNet_iTI_pp0p0_mtINzyXo_zvWTYFiLrVHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory –net of allowance for inventory obsolescence</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,657,287</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,946,457</td><td style="text-align: left"> </td></tr> </table> Cemtrex Inc. and Subsidiaries

Inventory, net of reserves, consist of the following: SCHEDULE OF INVENTORY, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_494_20210930_zAiDcM5HZgW3" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" id="xdx_49D_20200930_zpMFJcis5b74" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">Restated</td><td> </td></tr> <tr id="xdx_403_eus-gaap--InventoryRawMaterials_iI_pp0p0_maIGzAKk_znwTz74HMNJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,957,410</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,959,888</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryWorkInProcess_iI_pp0p0_maIGzAKk_zBxIGoKrcSbk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">429,871</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,069,050</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_pp0p0_maIGzAKk_zc1HZrwuIch8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,191,007</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,717,519</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryGross_iTI_pp0p0_mtIGzAKk_maINzyXo_zjxwz2Oo0JDa" style="vertical-align: bottom; background-color: White"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,578,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,746,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryAdjustments_iNI_pp0p0_di_msINzyXo_znA3sFpx9yea" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Allowance for inventory obsolescence</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,921,001</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(5,800,000</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InventoryNet_iTI_pp0p0_mtINzyXo_zvWTYFiLrVHd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory –net of allowance for inventory obsolescence</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,657,287</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,946,457</td><td style="text-align: left"> </td></tr> </table>

1957410

3959888

429871

1069050

5191007

5717519

7578288

10746457

1921001

5800000

5657287

4946457

NOTE 11 – PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_pp0p0" style="width: 16%; text-align: right" title="Property and equipment, gross">790,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_pp0p0" style="width: 16%; text-align: right" title="Property and equipment, gross">790,373</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Building and leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Property and equipment, gross">2,892,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Property and equipment, gross">2,935,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">501,885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">621,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computers and software</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">1,105,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">264,940</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade show display</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TradeShowDisplayMember_pp0p0" style="text-align: right" title="Property and equipment, gross">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TradeShowDisplayMember_pp0p0" style="text-align: right" title="Property and equipment, gross">89,330</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery and equipment</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Property and equipment, gross">12,984,959</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Property and equipment, gross">13,620,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930_pp0p0" style="text-align: right" title="Property and equipment, gross">18,275,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20200930_pp0p0" style="text-align: right" title="Property and equipment, gross">18,322,591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20210930_zX7ArCWn88q8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Accumulated depreciation">(11,536,854</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20200930_zyvqiAEFrtI5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Accumulated depreciation">(12,348,741</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20210930_z8HW8JqjQmgl" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">6,738,944</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20200930_zkyh0l6SFwJ8" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">5,973,850</td><td style="text-align: left"> </td></tr> </table> The Company completed the annual impairment test of property and equipment and determined that there was no impairment as the fair value of property and equipment, substantially exceeded their carrying values at September 30, 2021. Depreciation and amortization of property and equipment totaled approximately $1,335,189 and $1,865,726 for fiscal years ended September 30, 2021, and 2020, respectively.

Property and equipment are summarized as follows: SUMMARY OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; text-align: center">(restated)</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_pp0p0" style="width: 16%; text-align: right" title="Property and equipment, gross">790,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_pp0p0" style="width: 16%; text-align: right" title="Property and equipment, gross">790,373</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Building and leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Property and equipment, gross">2,892,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BuildingAndLeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Property and equipment, gross">2,935,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture and office equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">501,885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">621,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computers and software</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">1,105,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">264,940</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade show display</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TradeShowDisplayMember_pp0p0" style="text-align: right" title="Property and equipment, gross">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TradeShowDisplayMember_pp0p0" style="text-align: right" title="Property and equipment, gross">89,330</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery and equipment</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Property and equipment, gross">12,984,959</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_c20200930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Property and equipment, gross">13,620,530</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930_pp0p0" style="text-align: right" title="Property and equipment, gross">18,275,798</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20200930_pp0p0" style="text-align: right" title="Property and equipment, gross">18,322,591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20210930_zX7ArCWn88q8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Accumulated depreciation">(11,536,854</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20200930_zyvqiAEFrtI5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Accumulated depreciation">(12,348,741</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20210930_z8HW8JqjQmgl" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">6,738,944</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_c20200930_zkyh0l6SFwJ8" style="border-bottom: Black 2.5pt double; text-align: right" title="Property and equipment, net">5,973,850</td><td style="text-align: left"> </td></tr> </table>

790373

2892900

2935628

501885

621790

1105681

264940

89330

12984959

13620530

18275798

18322591

11536854

12348741

6738944

5973850

1335189

1865726

NOTE 12 – LEASES ASC 842, “Leases”, requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the “effective date method”) or the beginning of the earliest period presented (the “comparative method”) using a modified retrospective approach. Under the effective date method, the Company’s comparative period reporting is unchanged. In contrast, under the comparative method, the Company’s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted ASC 842 October 1, 2019, using the effective date method and elected certain practical expedients allowing the Company not to reassess: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">whether expired or existing contracts contain leases under the new definition of a lease;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">lease classification for expired or existing leases; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.</td></tr> </table> The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company entered into a financing lease for a single vehicle in the Industrial services segment with a term of 3 years. The Company enters into operating leases for its facilities in New York, United Kingdom, and India, as well as for vehicles for use in our Industrial Services segment. The operating lease terms range from 2 to 7 years. The Company excluded the renewal option on its applicable facility leases from the calculation of its right-of-use assets and lease liabilities. Cemtrex Inc. and Subsidiaries Finance and operating lease liabilities consist of the following: SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_ecustom--FinanceLeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zFRh8slQI5I9" style="width: 16%; text-align: right" title="Lease liabilities - current, Finance leases">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--FinanceLeaseLiabilitiesCurrent_iI_pp0p0_c20200930_zjKVZ1SAdmF8" style="width: 16%; text-align: right" title="Lease liabilities - current, Finance leases">20,061</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zczSW5E5vLD5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - current, Operating leases">830,791</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseLiabilitiesCurrent_iI_pp0p0_c20200930_z1i7zm1Uxyjf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - current, Operating leases">700,975</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--LeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zoroo5dTlHq8" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - current">830,791</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--LeaseLiabilitiesCurrent_iI_pp0p0_c20200930_z9HKNgbiHE23" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - current">721,036</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities - net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--FinanceLeaseLiabilitiesNoncurrent_iI_pp0p0_c20210930_zVcFO76PRmxl" style="text-align: right" title="Lease liabilities - net of current portion, Finance leases">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--FinanceLeaseLiabilitiesNoncurrent_iI_pp0p0_c20200930__us-gaap--BalanceSheetLocationAxis__custom--LeaseLiabilitiesMember_zH0LCKHnM2" style="text-align: right" title="Lease liabilities - net of current portion, Finance leases">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--OperatingLeaseLiabilitiesNoncurrent_iI_pp0p0_c20210930_zu9CVUHUBSDf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - net of current portion, Operating leases">2,017,408</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_ecustom--OperatingLeaseLiabilitiesNoncurrent_iI_pp0p0_c20200930_zy7A1jkvzSaf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - net of current portion, Operating leases">2,027,406</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_ecustom--LongtermLeaseLiabilities_iI_pp0p0_c20210930_z3CyrbisMBs" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - net of current portion">2,017,408</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LongtermLeaseLiabilities_iI_pp0p0_c20200930_zbS5K88nZ4Ja" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - net of current portion">2,027,406</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_896_ecustom--ScheduleOfReconciliationOfUndiscountedCashFlowsToFinanceAndOperatingLeaseLiabilitiesTableTextBlock_zGhKARBn5kF" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify; background-color: white">A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at September 30, 2021, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO FINANCE AND OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left">Years ending September 30,</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Finance leases</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Operating Leases</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Finance leases, 2022"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Operating Leases, 2022">912,755</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Total, 2022">912,755</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2023">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2023">725,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Total, 2023">725,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2024">588,454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Total, 2024">588,454</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2025">565,431</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Total, 2025">565,431</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026 & Thereafter</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Finance leases, 2026 & Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating Leases, 2026 & Thereafter">668,292</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total, 2026 & Thereafter">668,292</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Undiscounted lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Finance leases, Undiscounted lease payments">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Operating Leases, Undiscounted lease payments">3,460,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Total, Undiscounted lease payments">3,460,139</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amount representing interest</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--FinanceLeasesAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Finance leases, Amount representing interest">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeasesAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating Leases, Amount representing interest">(611,940</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--LeaseaOperatingLeaseAndFinanceLeaseAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total, Amount representing interest">(611,940</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Discounted lease payments</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--FinanceLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance leases, Discounted lease payments">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LesseeOperatingLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating Leases, Discounted lease payments">2,848,199</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Discounted lease payments">2,848,199</td><td style="text-align: left"> </td></tr> </table> Additional disclosures of lease data are set forth below: SCHEDULE OF LEASE COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Depreciation of finance lease assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--DepreciationOfFinanceLeaseAssets_c20201001__20210930_pp0p0" style="width: 16%; text-align: right" title="Finance lease costs: Depreciation of finance lease assets">17,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--DepreciationOfFinanceLeaseAssets_pp0p0_c20191001__20200930_zDhcVFjDcWC6" style="width: 16%; text-align: right" title="Finance lease costs: Depreciation of finance lease assets">22,912</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseInterestExpense_c20201001__20210930_pp0p0" style="text-align: right" title="Finance lease costs: Interest on lease liabilities">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseInterestExpense_pp0p0_c20191001__20200930_zR26sBSa7nt6" style="text-align: right" title="Finance lease costs: Interest on lease liabilities">832</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_c20201001__20210930_pp0p0" style="text-align: right" title="Operating lease costs: Amortization of right-of-use assets">870,860</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_pp0p0_c20191001__20200930_zyFpxfaATPId" style="text-align: right" title="Operating lease costs: Amortization of right-of-use assets">816,550</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest on lease liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseExpense_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease costs: Interest on lease liabilities">91,930</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseExpense_pp0p0_c20191001__20200930_zHgdzjbBpDTg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease costs: Interest on lease liabilities">59,122</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease cost</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--LeaseCost_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total lease cost">980,062</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--LeaseCost_pp0p0_c20191001__20200930_zTihRSFi17E8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total lease cost">899,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other information:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeasePayments_c20201001__20210930_pp0p0" style="text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Operating leases">962,790</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeasePayments_pp0p0_c20191001__20200930_zDgQwAiJTIuc" style="text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Operating leases">816,549</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeasePrincipalPayments_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Finance leases">20,061</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeasePrincipalPayments_pp0p0_c20191001__20200930_zO9BlRoV2zKf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Finance leases">22,718</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_ecustom--OperatingAndFinanceLeasePayments_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Total">982,851</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_ecustom--OperatingAndFinanceLeasePayments_pp0p0_c20191001__20200930_zFck993Nt6r6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Total">839,267</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term - finance leases (months)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average remaining lease term - operating leases (months)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate - finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.63</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.63</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average discount rate - operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.85</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.64</td><td style="text-align: left">%</td></tr> </table> Cemtrex Inc. and Subsidiaries 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.

The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less

P3Y

P2Y

P7Y

Finance and operating lease liabilities consist of the following: SUMMARY OF FINANCE AND OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td><td> </td> <td colspan="2" style="text-align: center">September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liabilities - current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_ecustom--FinanceLeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zFRh8slQI5I9" style="width: 16%; text-align: right" title="Lease liabilities - current, Finance leases">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--FinanceLeaseLiabilitiesCurrent_iI_pp0p0_c20200930_zjKVZ1SAdmF8" style="width: 16%; text-align: right" title="Lease liabilities - current, Finance leases">20,061</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--OperatingLeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zczSW5E5vLD5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - current, Operating leases">830,791</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--OperatingLeaseLiabilitiesCurrent_iI_pp0p0_c20200930_z1i7zm1Uxyjf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - current, Operating leases">700,975</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--LeaseLiabilitiesCurrent_iI_pp0p0_c20210930_zoroo5dTlHq8" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - current">830,791</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_ecustom--LeaseLiabilitiesCurrent_iI_pp0p0_c20200930_z9HKNgbiHE23" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - current">721,036</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liabilities - net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--FinanceLeaseLiabilitiesNoncurrent_iI_pp0p0_c20210930_zVcFO76PRmxl" style="text-align: right" title="Lease liabilities - net of current portion, Finance leases">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--FinanceLeaseLiabilitiesNoncurrent_iI_pp0p0_c20200930__us-gaap--BalanceSheetLocationAxis__custom--LeaseLiabilitiesMember_zH0LCKHnM2" style="text-align: right" title="Lease liabilities - net of current portion, Finance leases">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--OperatingLeaseLiabilitiesNoncurrent_iI_pp0p0_c20210930_zu9CVUHUBSDf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - net of current portion, Operating leases">2,017,408</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_ecustom--OperatingLeaseLiabilitiesNoncurrent_iI_pp0p0_c20200930_zy7A1jkvzSaf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Lease liabilities - net of current portion, Operating leases">2,027,406</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_ecustom--LongtermLeaseLiabilities_iI_pp0p0_c20210930_z3CyrbisMBs" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - net of current portion">2,017,408</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LongtermLeaseLiabilities_iI_pp0p0_c20200930_zbS5K88nZ4Ja" style="border-bottom: Black 2.5pt double; text-align: right" title="Lease liabilities - net of current portion">2,027,406</td><td style="text-align: left"> </td></tr> </table> 20061 830791 700975 830791 721036 2017408 2027406 2017408 2027406 <p id="xdx_896_ecustom--ScheduleOfReconciliationOfUndiscountedCashFlowsToFinanceAndOperatingLeaseLiabilitiesTableTextBlock_zGhKARBn5kF" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify; background-color: white">A reconciliation of undiscounted cash flows to finance and operating lease liabilities recognized in the condensed consolidated balance sheet at September 30, 2021, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO FINANCE AND OPERATING LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left">Years ending September 30,</td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Finance leases</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Operating Leases</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Total</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Finance leases, 2022"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Operating Leases, 2022">912,755</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsNextTwelveMonths_c20210930_pp0p0" style="width: 14%; text-align: right" title="Total, 2022">912,755</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2023">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2023">725,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearTwo_c20210930_pp0p0" style="text-align: right" title="Total, 2023">725,207</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2024">588,454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearThree_c20210930_pp0p0" style="text-align: right" title="Total, 2024">588,454</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Finance leases, 2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Operating Leases, 2025">565,431</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFour_c20210930_pp0p0" style="text-align: right" title="Total, 2025">565,431</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2026 & Thereafter</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Finance leases, 2026 & Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating Leases, 2026 & Thereafter">668,292</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFive_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total, 2026 & Thereafter">668,292</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Undiscounted lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Finance leases, Undiscounted lease payments">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Operating Leases, Undiscounted lease payments">3,460,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityUndiscountedExcessAmount_c20210930_pp0p0" style="text-align: right" title="Total, Undiscounted lease payments">3,460,139</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amount representing interest</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--FinanceLeasesAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Finance leases, Amount representing interest">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--OperatingLeasesAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating Leases, Amount representing interest">(611,940</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_985_ecustom--LeaseaOperatingLeaseAndFinanceLeaseAmountRepresentingInterest_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total, Amount representing interest">(611,940</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Discounted lease payments</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--FinanceLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance leases, Discounted lease payments">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LesseeOperatingLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating Leases, Discounted lease payments">2,848,199</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--LesseeOperatingLeaseAndFinanceLeaseLiabilityDiscountedExcessAmount_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Discounted lease payments">2,848,199</td><td style="text-align: left"> </td></tr> </table>

912755

725207

588454

565431

668292

3460139

3460139 -611940 -611940 2848199 2848199

Additional disclosures of lease data are set forth below: SCHEDULE OF LEASE COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Depreciation of finance lease assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--DepreciationOfFinanceLeaseAssets_c20201001__20210930_pp0p0" style="width: 16%; text-align: right" title="Finance lease costs: Depreciation of finance lease assets">17,184</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--DepreciationOfFinanceLeaseAssets_pp0p0_c20191001__20200930_zDhcVFjDcWC6" style="width: 16%; text-align: right" title="Finance lease costs: Depreciation of finance lease assets">22,912</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest on lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseInterestExpense_c20201001__20210930_pp0p0" style="text-align: right" title="Finance lease costs: Interest on lease liabilities">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseInterestExpense_pp0p0_c20191001__20200930_zR26sBSa7nt6" style="text-align: right" title="Finance lease costs: Interest on lease liabilities">832</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease costs:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_c20201001__20210930_pp0p0" style="text-align: right" title="Operating lease costs: Amortization of right-of-use assets">870,860</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_pp0p0_c20191001__20200930_zyFpxfaATPId" style="text-align: right" title="Operating lease costs: Amortization of right-of-use assets">816,550</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest on lease liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseExpense_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease costs: Interest on lease liabilities">91,930</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseExpense_pp0p0_c20191001__20200930_zHgdzjbBpDTg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Operating lease costs: Interest on lease liabilities">59,122</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease cost</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--LeaseCost_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total lease cost">980,062</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98D_eus-gaap--LeaseCost_pp0p0_c20191001__20200930_zTihRSFi17E8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total lease cost">899,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other information:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeasePayments_c20201001__20210930_pp0p0" style="text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Operating leases">962,790</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--OperatingLeasePayments_pp0p0_c20191001__20200930_zDgQwAiJTIuc" style="text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Operating leases">816,549</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeasePrincipalPayments_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Finance leases">20,061</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FinanceLeasePrincipalPayments_pp0p0_c20191001__20200930_zO9BlRoV2zKf" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Finance leases">22,718</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_ecustom--OperatingAndFinanceLeasePayments_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Total">982,851</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_ecustom--OperatingAndFinanceLeasePayments_pp0p0_c20191001__20200930_zFck993Nt6r6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cash paid for amounts included in the measurement of lease liabilities: Total">839,267</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term - finance leases (months)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average remaining lease term - operating leases (months)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate - finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.63</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.63</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average discount rate - operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.85</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.64</td><td style="text-align: left">%</td></tr> </table>

17184 22912

832

870860

816550

91930

59122

980062

899416

962790

816549

20061

22718

982851 839267

P0M

P10M

P55M

P51M

0.0363

0.0685

0.0664

NOTE 13 – PREPAID AND OTHER CURRENT ASSETS On September 30, 2021, the Company had prepaid and other current assets consisting of prepayments on inventory purchases of $298,707, and other current assets of $2,286,945. On September 30, 2020, the Company had prepaid and other current assets consisting of prepayments on inventory purchases of $101,308, and other current assets of $1,074,467.

298707

2286945

101308

1074467

NOTE 14 - OTHER ASSETS As of September 30, 2021, the Company had other assets of $697,240 which was comprised of rent security deposits of $84,362, Investment in Masterpiece VR valued at $500,000, and other assets of $112,878. As of September 30, 2020, the Company had other assets of $381,900 which was comprised of rent security deposits.

697240

84362

500000

112878

381900

NOTE 15 – LINES OF CREDIT AND LONG-TERM LIABILITIES Lines of credit The Company currently has a line of credit with Fulton Bank for $3,500,000. The line carries an interest of LIBOR plus <span id="xdx_903_eus-gaap--LineOfCreditFacilityInterestRateAtPeriodEnd_iI_dp_uPure_c20151215__us-gaap--CreditFacilityAxis__custom--FultonBankMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zPGJfJszbGn1">2.00% per annum (<span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateAtPeriodEnd_iI_pid_dp_uPure_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zxOPVOxMHLZ9">2.075% as of September 30, 2021). At September 30, 2021, there was no outstanding balance on this line of credit. The terms of this line of credit are subject to the bank’s review annually on February1. Loans payable to bank On December15, 2015, the Company acquired a loan from Fulton Bank in the amount of $5,250,000 in order to fund the purchase of Advanced Industrial Services, Inc. $5,000,000 of the proceeds went to direct purchase of AIS. This loan carries interest of LIBOR plus <span id="xdx_90B_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20151213__20151215__dei--LegalEntityAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zbtFp0bwnn91">2.25% per annum (<span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210930__dei--LegalEntityAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zoCKAEOb2qjj">2.325% as of September 30, 2021, and <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200930__dei--LegalEntityAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zMPiKb6AqpXe">4.23% as of September 30, 2020) and is payable on December 15, 2022. This loan carries loan covenants which the Company was in compliance with as of September 30, 2021. The outstanding balance on this loan was $1,218,680 and $2,164,584, on September 30, 2021, and 2020, respectively. This loan is secured by the assets of the Company. On May 1, 2018, the Company acquired a loan from Fulton Bank in the amount of $400,000 in order to fund new equipment for Advanced Industrial Services, Inc. This loan carries interest of LIBOR plus <span id="xdx_90E_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20180429__20180502__dei--LegalEntityAxis__custom--NewAdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zlP92MnuoC49">2.00% per annum (<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200930__dei--LegalEntityAxis__custom--NewAdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zARNIkSQo8J3">3.98% as of September 30, 2020) and is payable on May 1, 2023. This loan carries loan covenants which the Company was in compliance with as of September 30, 2020. The outstanding balance on this loan was $58,897 on September 30, 2020. On September 30, 2021, this loan was fully paid. This loan was secured by the assets of the Company. On May 1, 2018, the Company acquired a loan from Fulton Bank in the amount of $<span id="xdx_90C_eus-gaap--LoansPayableToBankCurrent_iI_pp0p0_c20180501__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zeYdFgBh8Ef8">400,000 in order to fund new equipment for Advanced Industrial Services, Inc. This loan carries interest of LIBOR plus <span id="xdx_906_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20180428__20180501__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_ziBgneZagOEa">2.00% per annum (<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zVx24jeWA1me">2.075% as of September 30, 2021, and <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_z3tVZj6uU423">3.98% as of September 30, 2020) and is payable on <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20180428__20180501__us-gaap--BusinessAcquisitionAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember_zxWxeapmEXQl">May 1, 2023. This loan carries loan covenants which the Company was in compliance with as of September 30, 2021. The outstanding balance on this loan was $<span id="xdx_90B_eus-gaap--LineOfCredit_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zvAm8qtvpr6">149,914 and $<span id="xdx_90E_eus-gaap--LineOfCredit_iI_pp0p0_c20200930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zw6W9b6XkKGe">246,673, on September 30, 2021, and 2020, respectively. This loan is secured by the assets of the Company. On January 28, 2020, the Company acquired a loan from Fulton Bank in the amount of $<span id="xdx_90F_eus-gaap--LoansPayableToBankCurrent_iI_pp0p0_c20200128__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zKrtX9XKlKt9">360,000 in order to fund new equipment for Advanced Industrial Services, Inc. This loan carries interest of LIBOR plus <span id="xdx_90D_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20200127__20200128__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zOSGTiIBK2vl">2.25% per annum (<span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zLSCYSaCzgpb">2.325% as of September 30, 2021, and <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zf7sn5TGixtk">4.23% as of September 30, 2020) and is payable on <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20200127__20200128__us-gaap--BusinessAcquisitionAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember_zfYzZJazTFKi">May 1, 2023. This loan carries loan covenants which the Company was in compliance with as of September 30, 2021. The outstanding balance on this loan was $<span id="xdx_907_eus-gaap--LineOfCredit_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zRjKrw8FXMuk">258,060 and $<span id="xdx_90E_eus-gaap--LineOfCredit_iI_pp0p0_c20200930__us-gaap--DebtInstrumentAxis__custom--NotesPayableDueOnMayOneTwoThousandTwentyThreeOneMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FultonBankMember_zWEl4NTSCsCf">331,535, on September 30, 2021, and 2020, respectively. This loan is secured by the assets of the Company. Notes payable On December 23, 2019, the Company, issued a note payable to an independent private lender in the amount of $1,725,000. This note carries interest of 8% and matures on June 23, 2021. After deduction of an original issue discount of $225,000 and legal fees of $5,000, the Company received $1,495,000 in cash. As of September 30, 2021, this note was fully satisfied. As of September 30, 2020, the balance on this note was $620,754. On April 24, 2020, the Company, issued a note payable to an independent private lender in the amount of $1,725,000. This note carries interest of 8% and matures on October 24, 2021. After deduction of an original issue discount of $225,000 and legal fees of $5,000, the Company received $1,495,000 in cash. As of September 30, 2021, this note was fully satisfied. As of September 30, 2020, this note had a balance of $1,787,033. Cemtrex Inc. and Subsidiaries On September 30, 2020, the Company, issued a note payable to an independent private lender in the amount of $4,605,000. This note carries interest of 8% and matures on March 30, 2022. After deduction of an original issue discount of 600,000 and legal fees of $5,000, the Company received $4,000,000 in cash. As of September 30, 2021, and 2020, this note had a balance of $2,456,448, and $4,605,000, respectively. On September 30, 2021, the Company, issued a note payable to an independent private lender in the amount of $5,755,000. This note carries interest of 8% and matures on March 30, 2023. After deduction of an original issue discount of 750,000 and legal fees of $5,000, the Company received $5,000,000 in cash. One September 30, 2021, this note had a balance of 5,775,000. On March 3, 2020, Vicon, a subsidiary of the Company amended the $5,600,000 Term Loan Agreement with NIL Funding Corporation (“NIL”). Upon closing, $500,000 of outstanding borrowings were repaid to NIL, additionally, another $500,000 is to be paid in one year. The Agreement requires monthly payments of accrued interest that began on October 1, 2018. This note carries interest of 8.85% and matures on March 30, 2022. This note carries loan covenants which the Company is in compliance with as of September 30, 2021. On September 30, 2021, and 2020, this note had a balance of $3,604,743, and 4,625,000, respectively. Mortgage Payable On January 28, 2020, the Company’s subsidiary, Advanced Industrial Services, Inc., completed the purchase of two buildings for a total purchase price of $3,381,433. The Company paid $905,433 in cash and acquired a mortgage from Fulton Bank in the amount of $<span id="xdx_90F_eus-gaap--LiabilitiesNoncurrent_c20200128__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AdvancedIndustrialServicesIncMember__dei--LegalEntityAxis__custom--FultonBankMember_pp0p0">2,476,000. This mortgage carries interest of LIBOR plus <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200128__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zEsIce2PBjZ6">2.50% per annum and is payable on <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20200127__20200128__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AdvancedIndustrialServicesIncMember__us-gaap--VariableRateAxis__us-gaap--LondonInterbankOfferedRateLIBORMember_zJvFtsYEan03">January 28, 2040. This loan carries loan covenants similar to covenants on The Company’s other loans from Fulton Bank. As of September 30, 2021, the Company was in compliance with these covenants. The outstanding balance on this mortgage was $2,339,114 and $2,355,542, on September 30, 2021, and 2020, respectively. Paycheck Protection Program Loans In April and May of 2020, and January and April of 2021, the Company and its subsidiaries applied for and were granted $6,413,385 in Paycheck Protection Program loans under the CARES Act. These loans bear interest of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200531__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_zXrr1QKGai0h" title="Debt instrument, interest rate">2% and mature in two years. The Company has applied for and received loan forgiveness under the provisions of the CARES Act for $6,291,985 with $<span id="xdx_908_eus-gaap--LineOfCreditFacilityDecreaseForgiveness1_pp0p0_c20211128__20211130__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--PaycheckProtectionProgramMember_zI6n2BEke3Pk" title="Debt forgiveness">971,500 being subsequent to September 30, 2021. These loans are recorded under Paycheck Protection Program Loans on our Condensed Consolidated Balance Sheet as of September 30, 2020, net of the short-term portion of $1,032,200, of which $971,500 has been forgiven. Estimated maturities of our long-term debt over the next 5 years are as follows; SCHEDULE OF ESTIMATED MATURITIES OF LONG TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Thereafter</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left"/><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zdnVqmnZFrm5" style="display: none; text-align: right" title="2022">713,548</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_ztucjQF77LY5" style="display: none; text-align: right" title="2023">505,132</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zpTvf70g5LV4" style="display: none; text-align: right" title="2024">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zvtfJNJPwNq1" style="display: none; text-align: right" title="2025">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zpreu4CqGMR6" style="display: none; text-align: right">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_z3VlrhiCAP0f" style="display: none; text-align: right" title="Thereafter">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zDAN5d9eRXRi" style="display: none; text-align: right" title="Total">1,218,680</td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_906_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" title="Loans payable to bank">5,250,000</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zaOJPN0rDi58" style="width: 5%; text-align: right" title="2022">713,548</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2023">505,132</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2024">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2025">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 5%; text-align: right" title="2026"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="Thereafter">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="Total">1,218,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" title="Loans payable to bank">400,000</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_zDa6UQU59av" style="text-align: right" title="2022">78,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2023">70,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Thereafter"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_zlejS74j5Rm9" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="Total">149,914</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" title="Loans payable to bank">360,000</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zXNQmx43Cpi2" style="text-align: right" title="2022">66,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2023">69,484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2024">49,502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Thereafter"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zSBROTLccmX9" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zoSMjtHUCgcb" style="text-align: right" title="Total">258,060</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fulton Bank - Mortgage payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_z3xwn32O7o01" style="text-align: right" title="2022">81,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2023">88,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2024">92,120</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2025">96,142</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2026">102,521</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="Thereafter">1,878,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="Total">2,339,114</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">NIL Funding</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_zwENbKKFk44l" style="text-align: right" title="2022">3,604,743</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2023">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="Total">3,604,743</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">PPP Loans</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_z1i9sQpb1bR6" style="text-align: right" title="2022">60,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2023">1,032,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebt_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="Total">1,092,900</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notes Payable (1)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zlBzlD1Xba41" style="border-bottom: Black 1.5pt solid; text-align: right" title="2022">5,371,825</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zNbm9DBEVZDb" style="border-bottom: Black 1.5pt solid; text-align: right" title="2023">2,350,000</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zFWz5veVMYn5" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zR2ytbE3OiQd" style="border-bottom: Black 1.5pt solid; text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zowyp6Zje0t9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zbA1mA7CsRhj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total">7,721,825</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">TOTAL</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930_zrRnDEt3AYD8" style="border-bottom: Black 2.5pt double; text-align: right" title="2022">9,977,971</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930_zCKLyhQ8IXE9" style="border-bottom: Black 2.5pt double; text-align: right" title="2023">4,116,001</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2024">141,622</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2025">96,142</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2026">102,521</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Thereafter">1,878,736</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebt_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">16,385,236</td><td style="text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt/107% Calibri, Helvetica, Sans-Serif; width: 100%; margin-bottom: 8pt"> <tr style="vertical-align: top"> <td style="padding-left: 10pt; width: 0.5in">(1) </td> <td style="padding-left: 10pt; text-indent: -10pt">Net of unamortized original issue discounts of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20210930_zM2lKV6k8yT8" title="Unamortized original issue discounts">950,000</td></tr> </table>

3500000

0.0200

0.02075

5250000

5000000

0.0225

0.02325

0.0423

2022-12-15

1218680

2164584

400000

0.0200

0.0398

2023-05-01

58897

400000

0.0200

0.02075

0.0398

2023-05-01

149914

246673

360000

0.0225

0.02325

0.0423

2023-05-01

258060

331535

1725000

0.08

2021-06-23

225000

5000

1495000

620754

1725000

0.08

2021-10-24

225000

5000

1495000

1787033

4605000

0.08

2022-03-30

600000

5000

4000000

2456448

4605000

5755000

0.08

2023-03-30

750000

5000

5000000

5775000

5600000

500000

0.0885

2022-03-30

3604743

4625000

3381433

905433

2476000

0.0250

2040-01-28

2339114

2355542

6413385 6413385

0.02

6291985

971500

1032200

971500

Estimated maturities of our long-term debt over the next 5 years are as follows; SCHEDULE OF ESTIMATED MATURITIES OF LONG TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2024</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Thereafter</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="font-weight: bold"> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left"/><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_985_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zdnVqmnZFrm5" style="display: none; text-align: right" title="2022">713,548</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_ztucjQF77LY5" style="display: none; text-align: right" title="2023">505,132</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zpTvf70g5LV4" style="display: none; text-align: right" title="2024">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zvtfJNJPwNq1" style="display: none; text-align: right" title="2025">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zpreu4CqGMR6" style="display: none; text-align: right">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_z3VlrhiCAP0f" style="display: none; text-align: right" title="Thereafter">-</td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left">$</td><td id="xdx_989_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zDAN5d9eRXRi" style="display: none; text-align: right" title="Total">1,218,680</td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 37%; text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_906_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" title="Loans payable to bank">5,250,000</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_zaOJPN0rDi58" style="width: 5%; text-align: right" title="2022">713,548</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2023">505,132</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2024">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="2025">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 5%; text-align: right" title="2026"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="Thereafter">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankOneMember_pp0p0" style="width: 5%; text-align: right" title="Total">1,218,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90C_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" title="Loans payable to bank">400,000</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_zDa6UQU59av" style="text-align: right" title="2022">78,995</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2023">70,919</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Thereafter"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_zlejS74j5Rm9" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankTwoMember_pp0p0" style="text-align: right" title="Total">149,914</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fulton Bank - $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--NotesPayableToBankNoncurrent_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" title="Loans payable to bank">360,000</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zXNQmx43Cpi2" style="text-align: right" title="2022">66,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2023">69,484</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2024">49,502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Thereafter"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zSBROTLccmX9" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankThreeMember_zoSMjtHUCgcb" style="text-align: right" title="Total">258,060</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fulton Bank - Mortgage payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_z3xwn32O7o01" style="text-align: right" title="2022">81,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2023">88,266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2024">92,120</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2025">96,142</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="2026">102,521</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="Thereafter">1,878,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--LongTermDebt_c20210930__us-gaap--CreditFacilityAxis__custom--FultonBankMortgagePayableMember_pp0p0" style="text-align: right" title="Total">2,339,114</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">NIL Funding</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_zwENbKKFk44l" style="text-align: right" title="2022">3,604,743</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2023">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--LongTermDebt_c20210930__us-gaap--DebtInstrumentAxis__custom--NILFundingMember_pp0p0" style="text-align: right" title="Total">3,604,743</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">PPP Loans</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_z1i9sQpb1bR6" style="text-align: right" title="2022">60,700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2023">1,032,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebt_c20210930__us-gaap--DebtInstrumentAxis__custom--PPPLoansMember_pp0p0" style="text-align: right" title="Total">1,092,900</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Notes Payable (1)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zlBzlD1Xba41" style="border-bottom: Black 1.5pt solid; text-align: right" title="2022">5,371,825</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zNbm9DBEVZDb" style="border-bottom: Black 1.5pt solid; text-align: right" title="2023">2,350,000</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zFWz5veVMYn5" style="border-bottom: Black 1.5pt solid; text-align: right" title="2024">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zR2ytbE3OiQd" style="border-bottom: Black 1.5pt solid; text-align: right" title="2025">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right" title="2026"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zowyp6Zje0t9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Thereafter">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--LongTermDebt_iI_pp0p0_c20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember_fKDEp_zbA1mA7CsRhj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total">7,721,825</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: right">TOTAL</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pp0p0_c20210930_zrRnDEt3AYD8" style="border-bottom: Black 2.5pt double; text-align: right" title="2022">9,977,971</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pp0p0_c20210930_zCKLyhQ8IXE9" style="border-bottom: Black 2.5pt double; text-align: right" title="2023">4,116,001</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2024">141,622</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2025">96,142</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="2026">102,521</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Thereafter">1,878,736</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--LongTermDebt_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">16,385,236</td><td style="text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt/107% Calibri, Helvetica, Sans-Serif; width: 100%; margin-bottom: 8pt"> <tr style="vertical-align: top"> <td style="padding-left: 10pt; width: 0.5in">(1) </td> <td style="padding-left: 10pt; text-indent: -10pt">Net of unamortized original issue discounts of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEVTVElNQVRFRCBNQVRVUklUSUVTIE9GIExPTkcgVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_900_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20210930_zM2lKV6k8yT8" title="Unamortized original issue discounts">950,000</td></tr> </table>

713548

505132

1218680

5250000

713548

505132

1218680

400000

78995

70919

149914

360000

66831

69484

49502

258060

81329

88266

92120

96142

102521

1878736

2339114

3604743

60700

1032200

1092900

5371825

2350000

7721825

9977971

4116001

141622

96142

102521

1878736

16385236

950000

NOTE 16 – RELATED PARTY TRANSACTIONS On August 31, 2019, the Company entered into an Asset Purchase Agreement for the sale of Griffin Filters, LLC to Ducon Technologies, Inc., which Aron Govil, the Company’s Founder and Former CFO, is President, for total consideration of $<span id="xdx_905_eus-gaap--BusinessCombinationConsiderationTransferred1_c20190830__20190831__us-gaap--TypeOfArrangementAxis__custom--AssetPurchaseAgreementMember__dei--LegalEntityAxis__custom--GriffinFiltersLLCMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DuconTechnologiesIncMember__srt--TitleOfIndividualAxis__custom--AronGovilMember_pp0p0" title="Consideration amount">550,000. As of September 30, 2021, and September 30, 2020, there was $<span id="xdx_905_eus-gaap--AccountsReceivableRelatedPartiesCurrent_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DuconTechnologiesIncMember_zZq5vzu7CUud" title="Trade receivables related parties">1,487,155 and $<span id="xdx_904_eus-gaap--AccountsReceivableRelatedPartiesCurrent_c20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DuconTechnologiesIncMember_pp0p0" title="Trade receivables related parties">1,432,209 in receivables due from Ducon Technologies, Inc., respectively. <span id="xdx_90F_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20201001__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GriffinFiltersLLCMember_zIkHh5H7T6kc" title="Description of remaining balance due">At September 30, 2021, $500,000 of the balance due is for the sale of Griffin, which was due in February 2021, and the remaining balance are various receivables with various due dates within the next fiscal year. The Company is currently negotiating a payment agreement surrounding all these amounts due. Cemtrex Inc. and Subsidiaries Please see Note 3 for further transactions relating to Aron Govil. On May 1, 2020, Company invested $500,000 in a registered S-1 stock offering of Telidyne Inc., an OTC listed company, by purchasing 166,667 shares of common stock at $3.00 per share. Telidyne Inc. is controlled by the Company’s former CFO and Executive Director, Aron Govil. On September 30, 2020, the Company decided to withdraw its investment, the transaction was cancelled, and all proceeds were returned.

550000

1487155

1432209

At September 30, 2021, $500,000 of the balance due is for the sale of Griffin, which was due in February 2021, and the remaining balance are various receivables with various due dates within the next fiscal year.

500000

166667

3.00

NOTE 17 – SHAREHOLDERS’ EQUITY On July 27, 2020, the Company amended the Company’s Certificate of Incorporation (the “Amended Certificate of Incorporation”) which was duly approved by the Company’s Board of Directors and duly adopted by the Company’s shareholders increasing the number of authorized shares of all classes of stock from 30,000,000 shares to 60,000,000 shares with 50,000,000 designated as Common Stock and 10,000,000 designated as Preferred Stock. Preferred Stock The Company is authorized to issue 10,000,000 shares of Preferred Stock, $0.001 par value. As of September 30, 2021, and September 30, 2020, there were 1,935,151 and 3,256,784 shares issued and outstanding, respectively. Series A Preferred stock Each issued and outstanding Series A Preferred Share shall be entitled to the number of votes per share equal to the result of: (i) the number of shares of common stock of the Company issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series A Preferred Shares issued and outstanding at the time of such vote, at each meeting of shareholders of the Company with respect to any and all matters presented to the shareholders of the Company for their action or consideration, including the election of directors. Holders of Series A Preferred Shares shall vote together with the holders of Common Shares as a single class. The Series A Preferred Stock has no liquidation value or preference. During the twelve-month periods ended September 30, 2021, the Company retired <span id="xdx_906_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pid_c20201001__20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zkN0OTJN7ULj" title="Stock issued during the period retired">1,000,000 shares of Series A Preferred Stock. As of September 30, 2021, and September 30, 2020, there were <span id="xdx_904_eus-gaap--PreferredStockSharesOutstanding_iI_dc_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zroGFe6tcTik" title="Preferred stock, shares outstanding">zero and 1,000,000 shares of Series A Preferred Stock issued and outstanding, respectively. Series C Preferred Stock On October 3, 2019, pursuant to Article IV of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series C Preferred Stock, consisting of up to one hundred thousand (100,000) shares, par value $0.001. Under the Certificate of Designation, holders of Series C Preferred Stock are entitled to the number of votes per share equal to the result of (i) the total number of shares of Common Stock outstanding at the time of such vote multiplied by 10.01, and divided by (ii) the total number of shares of Series C Preferred Stock outstanding at the time of such vote, at each meeting of our shareholders with respect to any and all matters presented to our shareholders for their action or consideration, including the election of directors. For the year ended September 30, 2020, 100,000 shares of Series C Preferred Stock were issued to Aron Govil, Executive former Director and CFO of the Company as part of his employment agreement. In order to determine the fair market value of these shares the Company used the closing price of its Series 1 preferred stock of $0.95 on October 3, 2019. On July 10, 2020, Aron Govil transferred <span id="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_c20210710__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__srt--TitleOfIndividualAxis__custom--AronGovilMember_zPcs0loduCS6" title="Preferred stock, shares issued">50,000 shares of the Series C Preferred Stock to Saagar Govil. Cemtrex Inc. and Subsidiaries During the year ended September 30, 2021, the Company retired <span id="xdx_905_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pid_c20201001__20210930__us-gaap--DebtInstrumentAxis__custom--NotesPayableMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zymUaN5Br2l6">50,000 shares of Series C Preferred Stock surrendered by Aron Govil as part of the settlement agreement (see Note 3). As of September 30, 2021, and September 30, 2020, there were <span id="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zsPmN3c2dPJ2" title="Preferred stock, shares outstanding">50,000 and 100,000 shares of Series C Preferred Stock issued and outstanding, respectively. Series 1 Preferred Stock Dividends Holders of the Series 1 Preferred will be entitled to receive cumulative cash dividends at the rate of 10% of the purchase price per year, payable semiannually on the last day of March and September in each year. Dividends may also be paid, at our option, in additional shares of Series 1 Preferred, valued at their liquidation preference. The Series 1 Preferred will rank senior to the common stock with respect to dividends. Dividends will be entitled to be paid prior to any dividend to the holders of our common stock. Liquidation Preference The Series 1 Preferred will have a liquidation preference of $<span id="xdx_907_eus-gaap--TemporaryEquityLiquidationPreferencePerShare_iI_c20210930__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_zGm32gpCCkDg" title="Liquidation preference per share">10 per share, equal to its purchase price. In the event of any liquidation, dissolution or winding up of our company, any amounts remaining available for distribution to stockholders after payment of all liabilities of our company will be distributed first to the holders of Series 1 Preferred, and then pari passu to the holders of the Series A preferred stock and our common stock. The holders of Series 1 Preferred will have preference over the holders of our common stock on any liquidation, dissolution or winding up of our company. The holders of Series 1 Preferred will also have preference over the holders of our Series A preferred stock. Voting Rights Except as otherwise provided in the certificate of designation, preferences and rights or as required by law, the Series 1 Preferred will vote together with the shares of our common stock (and not as a separate class) at any annual or special meeting of stockholders. Except as required by law, each holder of shares of Series 1 Preferred will be entitled to two votes for each share of Series 1 Preferred held on the record date as though each share of Series 1 Preferred were 2 shares of our common stock. Holders of the Series 1 Preferred will vote as a class on any amendment altering or changing the powers, preferences or special rights of the Series 1 Preferred so as to affect them adversely. No Conversion The Series 1 Preferred will not be convertible into or exchangeable for shares of our common stock or any other security. Rank The Series 1 Preferred will rank with respect to distribution rights upon our liquidation, winding-up or dissolution and dividend rights, as applicable: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">senior to our Series A preferred stock, common stock and any other class of capital stock we issue in the future unless the terms of that stock provide that it ranks senior to any or all of the Series 1 Preferred;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">on a parity with any class of capital stock we issue in the future the terms of which provide that it will rank on a parity with any or all of the Series 1 Preferred;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">junior to each class of capital stock issued in the future the terms of which expressly provide that such capital stock will rank senior to the Series 1 Preferred and the common stock; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">junior to all of our existing and future indebtedness.</td></tr> </table> Cemtrex Inc. and Subsidiaries On March 30, 2020, the Company amended the Certificate of Designation (the “Amended Certificate of Designation”) for our Series 1 Preferred Stock (the “Series 1 Stock”). The Amended Certificate of Designation increased the number of authorized preferred shares under the designation for our Series 1 Preferred Stock from <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20200330__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember__srt--RangeAxis__srt--MinimumMember_zpXIVSofxk88" title="Preferred stock, shares authorized">3,000,000 shares to <span id="xdx_909_eus-gaap--PreferredStockSharesAuthorized_iI_c20200330__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember__srt--RangeAxis__srt--MaximumMember_z5v1Pe8dtRX" title="Preferred stock, shares authorized">4,000,000 shares. During the year ended September 30, 2021, <span id="xdx_90B_eus-gaap--PreferredStockDividendsShares_c20201001__20210930__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_zTtTpOO2iEt1" title="Shares of preferred stock for dividends">198,316 shares of Series 1 Preferred Stock were issued to pay dividends to holders of Series 1 Preferred Stock. During the year ended September 30, 2021, the Company retired 469,949 shares of Series 1 Preferred Stock surrendered by Aron Govil as part of the settlement agreement (see Note 3). As of September 30, 2021, and September 30, 2020, there were 1,885,151 and 2,156,784 shares of Series 1 Preferred Stock issued and outstanding, respectively. During the fiscal year ended September 30, 2020, the Company purchased 235,133 shares of its Series 1 Preferred Stock on the open market at an average price per share of $1.92, for an aggregate cost of approximately $<span id="xdx_906_eus-gaap--StockRepurchasedDuringPeriodValue_pp0p0_c20191001__20200930__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_zIJfQ26nRmvb" title="Number of shares purchased, value">338,775, as part of its ongoing share repurchase program announced earlier. The Company retired <span id="xdx_906_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_c20191001__20200930__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_zM7hM0wX4Le1" title="Number of shares retired">171,033 shares worth $<span id="xdx_90B_eus-gaap--StockRepurchasedAndRetiredDuringPeriodValue_pp0p0_c20191001__20200930__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_z9XAXuTQWD44" title="Number of shares retired, value">190,484 during fiscal 2020. Common Stock The Company is authorized to issue 50,000,000 shares of common stock, $0.001 par value. As of September 30, 2021, there were 20,782,194 shares issued and outstanding and at September 30, 2020, there were 17,622,539 shares issued and outstanding. During the fiscal year ended September 30, 2021, we issued 3,159,655 shares of common stock to satisfy $5,025,651 of notes payable and accumulated interest. During the fiscal years ended September 30, 2020, 6,530,473 shares of the Company’s common stock have been issued to satisfy $8,737,125 of notes payable and accumulated interest. During fiscal year 2020, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20191001__20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesSubscriptionAgreementMember_zMN1lpINePFh" title="Number of common stock shares issued">6,643,872 shares of the Company’s common stock for $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20191001__20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesSubscriptionAgreementMember_zd6TePMwi1Vb" title="Number of new stock issued, value">12,462,648 in gross proceeds in various subscription rights offerings. After deducting offering expenses of $840,728 the Company received $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pp0p0_c20191001__20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesSubscriptionAgreementMember_z5pzk0NhjRs4" title="Proceeds from public offering">11,621,920 in net proceeds (see below). During fiscal year 2020, the Company issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20191001__20200930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zH4IbYI2XcFc" title="Number of shares issued for services">513,358 shares in exchange for $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20191001__20200930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zepxvEoha8vb" title="Number of shares issued for services, value">532,788 worth of goods and services. During fiscal year 2020, the Company cancelled <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20191001__20200930__us-gaap--SubsidiarySaleOfStockAxis__custom--ATMOfferingMember_zdDhTpqE83gl" title="Number of shares cancelled">27,954 shares that were issued in trust for an ATM offering in the prior fiscal year that were not sold. Series 1 Warrants There are currently 433,965 shares of our common stock issuable upon the exercise of our publicly traded Series 1 warrants that have an exercise price of $50.48 per share. During the years ended September 30, 2021, and 2020, none of our outstanding Series 1 Warrants have been exercised. Subscription Rights Offering On January 24, 2020, the “Company entered into a Subscription Agreement relating to the public offering of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210122__20210124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Number of common stock shares issued">500,000 shares (the “Shares”) of the Company’s common stock, par value $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_c20210124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Common stock, par or stated value per share">0.001 per share, all of which were sold by the Company (the “Offering”) to an accredited investor. The Offering price of the Shares was $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_c20200124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_z6VqaDIvZS9l" title="Stock price per share">1.50 per share for gross proceeds of $<span id="xdx_90E_ecustom--GrossProceedsFromPublicOffering_pp0p0_c20210122__20210124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_zssQcpLAwQ35">750,000. After deducting offering expenses of $<span id="xdx_905_eus-gaap--PaymentsOfStockIssuanceCosts_c20210122__20210124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Offering expenses">37,500 the Company received $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210122__20210124__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Proceeds from public offering">712,500 in net proceeds. Cemtrex Inc. and Subsidiaries On February 26, 2020, the “Company entered into a Subscription Agreement relating to the public offering of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210225__20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Number of common stock shares issued">347,000 shares (the “Shares”) of the Company’s common stock, par value $<span id="xdx_908_eus-gaap--CommonStockParOrStatedValuePerShare_c20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Common stock, par or stated value per share">0.001 per share, all of which were sold by the Company (the “Offering”) to an accredited investor. The Offering price of the Shares was $<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_c20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Stock price per share">1.30 per share for gross proceeds of $<span id="xdx_902_ecustom--GrossProceedsFromPublicOffering_c20210225__20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Gross proceeds from public offering">451,100. After deducting offering expenses of $<span id="xdx_90D_eus-gaap--PaymentsOfStockIssuanceCosts_c20210225__20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Offering expenses">2,500 the Company received $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210225__20210226__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Proceeds from public offering">448,600 in net proceeds. On June 1, 2020, the “Company entered into a Subscription Agreement relating to the public offering of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210530__20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Number of common stock shares issued">3,055,556 shares (the “Shares”) of the Company’s common stock, par value $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_c20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Common stock, par or stated value per share">0.001 per share, all of which were sold by the Company (the “Offering”) to accredited investors. The Offering price of the Shares was $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_c20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Stock price per share">1.80 per share for gross proceeds of $<span id="xdx_90E_ecustom--GrossProceedsFromPublicOffering_c20210530__20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Gross proceeds from public offering">5,500,000. After deducting offering expenses of $<span id="xdx_909_eus-gaap--PaymentsOfStockIssuanceCosts_c20210530__20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Offering expenses">395,000 the Company received $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210530__20210601__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Proceeds from public offering">5,105,000 in net proceeds. On June 9, 2020, the “Company entered into a Subscription Agreement relating to the public offering of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210608__20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Number of common stock shares issued">2,402,923 shares (the “Shares”) of the Company’s common stock, par value $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_c20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Common stock, par or stated value per share">0.001 per share, all of which were sold by the Company (the “Offering”) to accredited investors. The Offering price of the Shares was $<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_c20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pdd" title="Stock price per share">2.24 per share for gross proceeds of $<span id="xdx_90B_ecustom--GrossProceedsFromPublicOffering_c20210608__20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Gross proceeds from public offering">5,382,548. After deducting offering expenses of $<span id="xdx_908_eus-gaap--PaymentsOfStockIssuanceCosts_c20210608__20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Offering expenses">386,778 the Company received $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20210608__20210609__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__us-gaap--SubsidiarySaleOfStockAxis__custom--PublicOfferingMember__srt--TitleOfIndividualAxis__custom--AccreditedInvestorMember_pp0p0" title="Proceeds from public offering">4,995,769 in net proceeds.

30000000

60000000

50000000

10000000

0.001

1935151

3256784

1000000

100000

0.001

Under the Certificate of Designation, holders of Series C Preferred Stock are entitled to the number of votes per share equal to the result of (i) the total number of shares of Common Stock outstanding at the time of such vote multiplied by 10.01, and divided by (ii) the total number of shares of Series C Preferred Stock outstanding at the time of such vote, at each meeting of our shareholders with respect to any and all matters presented to our shareholders for their action or consideration, including the election of directors.

100000

0.95

50000

100000

3000000

4000000

198316

469949

1885151

2156784

235133

1.92

338775

171033

190484

50000000

0.001

20782194

17622539

3159655

5025651

6530473

8737125

6643872

12462648

840728

11621920

513358

532788

27954

433965

50.48

500000

0.001

1.50

750000

37500

712500

347000

0.001

1.30

451100

2500

448600

3055556

0.001

1.80

5500000

395000

5105000

2402923

0.001

2.24

5382548

386778

4995769

NOTE 18 – SHARE-BASED COMPENSATION On September 25, 2019, the Company cancelled all outstanding options granted to Saagar Govil, the Company’s Chairman and CEO and granted a stock option for <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember_zw4BD1lhlnba" title="Stock option granted">400,000 shares. These options have an exercise price of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember_zs8rd5VE3Hg9" title="Stock option exercise price per share granted">1.90 per share, which vested upon grant and they expire after <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dt_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember_zRHie4ON9vxk" title="Vested period">seven years. Additionally, Mr. Govil was granted additional future options; (i) <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zyP7Wp8V6Mm6" title="Shares of common stock">100,000 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zOIB8FWHiNNe" title="Share based compensation exercise price per share">1.92 per share on <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zyp2XGpJ0n7j" title="Maturity date">September 25, 2021; (ii) <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_za9EVz5fLInd" title="Shares of common stock">100,000 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zHOCRsvKEHEj" title="Share based compensation exercise price per share">2.30 per share on <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zQMfMgvODz39" title="Maturity date">September 25, 2023; and (iii) <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zQcmd9Pa50Y7" title="Shares of common stock">100,000 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zAS2jER82oq" title="Share based compensation exercise price per share">2.76 per share on <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20190924__20190925__srt--TitleOfIndividualAxis__custom--SaagarGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zKiNuxUewAsi" title="Maturity date">September 25, 2025. On September 25, 2019, the Company granted to Aron Govil, the Company’s former Executive Director and CFO, a stock option for <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember_zLic9LorWLag" title="Stock option granted">200,000 shares. These options have an exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember_zNvs3vNoE1F2" title="Stock option exercise price per share granted">1.90 per share, which vested upon grant and they expire after <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dt_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember_zMksuZUGbKc2" title="Vested period">seven years. (i) <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zwuxoe5nF0h1" title="Shares of common stock">25,000 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zo6EmkaWNm1b" title="Share based compensation exercise price per share">1.92 per share on <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zYEQhNjLWUAi" title="Maturity date">September 25, 2021; (ii) <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zIynyPNEesEh" title="Shares of common stock">12,500 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zTaau4vnHjn3" title="Share based compensation exercise price per share">2.30 per share on <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zRRAYfisRill" title="Maturity date">September 25, 2023; and (iii) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zCp4VB7yAaE3" title="Shares of common stock">8,333 shares of the Corporation’s common stock, CETX at an exercise price of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zmH0olcG5lkk" title="Share based compensation exercise price per share">2.76 per share on <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20190924__20190925__srt--TitleOfIndividualAxis__custom--AronGovilMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zCYpvMjouJNa" title="Maturity date">September 25, 2025. As part of the settlement agreement with Mr. Govil, all his options were cancelled. On January 6, 2021, the Company granted to Christopher C. Moore, the Company’s CFO, a stock option for <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20210104__20210106__srt--TitleOfIndividualAxis__custom--ChristopherCMooreMember_zW0j6681dUr4" title="Shares issued, shares, share-based stock option">150,000 shares. These options have an exercise price of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20210106__srt--TitleOfIndividualAxis__custom--ChristopherCMooreMember_zUtw6yHJRDYf" title="Share based compensation exercise price per share">1.58 per share, which vest over five years, and they expire after five years. <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zhXceYPr2Xw8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following weighted-average assumptions were used to estimate the fair value of the common stock option liability for the options granted to Christopher C. Moore; SCHEDULE OF FAIR VALUE STOCK OPTION WEIGHTED AVERAGE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">January 6, 2021</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5 Years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">0.41</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111.47</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">0</td><td style="text-align: left">%</td></tr> </table> Cemtrex Inc. and Subsidiaries During the years ended September 30, 2021, and 2020 the Company recognized $156,419 and $191,416 of share-based compensation expense on its outstanding options, respectively. As of September 30, 2021, there was $359,415 of total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of <span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20201001__20210930_zR4z68abT0N1" title="Unrecognized compensation expense, expected to be recognized period">4 years. <p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDUSb6p6e7l4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> SCHEDULE OF STOCK OPTIONS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding at September 30, 2019</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20191001__20200930_zk7Ua57YWlic" style="width: 10%; text-align: right" title="Number of Options, Outstanding, Beginning balance">1,050,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20191001__20200930_zUuDcrGUWFEc" style="width: 10%; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20191001__20200930_z7hykpp0lZS" style="text-align: right" title="Number of Options, Options granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20191001__20200930_zVidEEoTEj82" style="text-align: right" title="Number of Options, Options exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20191001__20200930_z95MhGRsIaf8" style="text-align: right" title="Number of Options, Options forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options cancelled</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod_c20191001__20200930_z6PJDCPjZSpg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options, Options cancelled">(104,167</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at September 30, 2020</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20201001__20210930_zd1ZcyWN3hof" style="text-align: right" title="Number of Options, Outstanding, Beginning balance">945,833</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20201001__20210930_pdd" style="text-align: right" title="Number of Options, Options granted">250,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options forfeited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options cancelled</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod_c20201001__20210930_pdd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options, Options cancelled">(245,833</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at September 30, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20201001__20210930_zZxplTxs7eAk" style="text-align: right" title="Number of Options, Outstanding, Ending balance">950,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercisable at September 30, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20210930_pdd" style="text-align: right" title="Number of Options, Exercisable">583,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20210930_pdd" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">1.78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20201001__20210930_zS4aDG6UqMw4" title="Weighted Average Remaining Contractual Term (in years), Exercisable">0.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20201001__20210930_zPPSCNt3SKdb" style="text-align: right" title="Aggregate Intrinsic Value, Exercisable">-</td><td style="text-align: left"> </td></tr> </table>

400000

1.90

P7Y

100000

1.92

2021-09-25

100000

2.30

2023-09-25

100000

2.76

2025-09-25

200000

1.90

P7Y

25000

1.92

2021-09-25

12500

2.30

2023-09-25

8333

2.76

2025-09-25

150000

1.58

P5Y

<p id="xdx_89B_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zhXceYPr2Xw8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following weighted-average assumptions were used to estimate the fair value of the common stock option liability for the options granted to Christopher C. Moore; SCHEDULE OF FAIR VALUE STOCK OPTION WEIGHTED AVERAGE ASSUMPTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">January 6, 2021</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5 Years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">Risk-free interest rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">0.41</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">111.47</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">0</td><td style="text-align: left">%</td></tr> </table>

P5Y

0.0041

1.1147

156419

191416

359415

P4Y

<p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDUSb6p6e7l4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> SCHEDULE OF STOCK OPTIONS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (in years)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Outstanding at September 30, 2019</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20191001__20200930_zk7Ua57YWlic" style="width: 10%; text-align: right" title="Number of Options, Outstanding, Beginning balance">1,050,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20191001__20200930_zUuDcrGUWFEc" style="width: 10%; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning balance">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20191001__20200930_z7hykpp0lZS" style="text-align: right" title="Number of Options, Options granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20191001__20200930_zVidEEoTEj82" style="text-align: right" title="Number of Options, Options exercised">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20191001__20200930_z95MhGRsIaf8" style="text-align: right" title="Number of Options, Options forfeited">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options cancelled</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod_c20191001__20200930_z6PJDCPjZSpg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options, Options cancelled">(104,167</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding at September 30, 2020</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20201001__20210930_zd1ZcyWN3hof" style="text-align: right" title="Number of Options, Outstanding, Beginning balance">945,833</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20201001__20210930_pdd" style="text-align: right" title="Number of Options, Options granted">250,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options forfeited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options cancelled</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsCancelledInPeriod_c20201001__20210930_pdd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Options, Options cancelled">(245,833</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at September 30, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20201001__20210930_zZxplTxs7eAk" style="text-align: right" title="Number of Options, Outstanding, Ending balance">950,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercisable at September 30, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20210930_pdd" style="text-align: right" title="Number of Options, Exercisable">583,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20210930_pdd" style="text-align: right" title="Weighted Average Exercise Price, Exercisable">1.78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20201001__20210930_zS4aDG6UqMw4" title="Weighted Average Remaining Contractual Term (in years), Exercisable">0.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pp0p0_c20201001__20210930_zPPSCNt3SKdb" style="text-align: right" title="Aggregate Intrinsic Value, Exercisable">-</td><td style="text-align: left"> </td></tr> </table>

1050000

-104167

945833

250000

-245833

950000

583333

1.78

P0Y4M24D

NOTE 19 – COMMITMENTS AND CONTINGENCIES The Company has moved its corporate activities to New York City with a month-to-month lease of 2,500 square feet of office space at a rate of $13,000 per month. The Company’s IS segment owns approximately <span id="xdx_906_eus-gaap--AreaOfLand_iI_usqft_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--ISSegmentMember__srt--StatementGeographicalAxis__custom--ManchesterMember_z18vvHYxMhX3" title="Area of land">25,000 square feet of warehouse space in Manchester, PA and approximately <span id="xdx_901_eus-gaap--AreaOfLand_iI_usqft_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--ISSegmentMember__srt--StatementGeographicalAxis__custom--YorkMember_zRImqIUlVUoh" title="Area of land">43,000 square feet of office and warehouse space in York, PA. The IS segment also leases approximately <span id="xdx_907_eus-gaap--AreaOfLand_iI_usqft_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--ISSegmentMember__srt--StatementGeographicalAxis__custom--EmigsvilleMember_zIPqYxXVTMZ3" title="Area of land">15,500 square feet of warehouse space in Emigsville, PA from a third party in a three-year lease at a monthly rent of $<span id="xdx_90D_eus-gaap--PaymentsForRent_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--ISSegmentMember__srt--StatementGeographicalAxis__custom--EmigsvilleMember_pp0p0" title="Monthly lease rent payment">4,555 expiring on <span id="xdx_906_eus-gaap--LeaseExpirationDate1_dd_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--ISSegmentMember__srt--StatementGeographicalAxis__custom--EmigsvilleMember_ziKABgm6G1Tl" title="Lease expiration date">August 31, 2022. The Company’s AT segment leases (i) approximately 6,700 square feet of office and warehouse space in Pune, India from a third party in an five year lease at a monthly rent of $6,453 (INR<span id="xdx_90A_eus-gaap--PaymentsForRent_pp0p0_uINR_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--PuneMember_zk2JKBV4ZXWe">456,972) expiring on <span id="xdx_900_eus-gaap--LeaseExpirationDate1_dd_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--PuneMember_zG8hGlts0Uxf">February 28, 2024, (ii) approximately 30,000 square feet of office and warehouse space in Hauppauge, New York from a third party in a <span id="xdx_902_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtYxL_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--HauppaugeMember_zQ1Vv842Cddl" title="::XDX::P7Y">seven-year lease at a monthly rent of $28,719 expiring on <span id="xdx_904_eus-gaap--LeaseExpirationDate1_dd_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--HauppaugeMember_zZCkUqydgCjl">March 31, 2027, (iii) approximately <span id="xdx_90C_eus-gaap--AreaOfLand_iI_pid_usqft_c20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--ElDoradoHillsMember_zhpR7GANuJQg">4,570 square feet of office space in El Dorado Hills, California in a 63 month lease assumed by the company upon the acquisition of VDI expiring on <span id="xdx_90F_eus-gaap--LeaseExpirationDate1_pid_usqft_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--ElDoradoHillsMember_z6HA0Yv7OhTf">November 30, 2022, and (iv) approximately 9,400 square feet of office and warehouse space in Hampshire, England in a fifteen-year lease with at a monthly rent of $7,329 (£<span id="xdx_900_eus-gaap--PaymentsForRent_pp0p0_uGBP_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--HampshireMember__us-gaap--AwardTypeAxis__custom--GBPMember_zajreHyCaCt6">5,771) which expires on <span id="xdx_904_eus-gaap--LeaseExpirationDate1_dd_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--HampshireMember_z39VoqiiDAra">March 24, 2031 and contains provisions to <span id="xdx_902_eus-gaap--LesseeOperatingLeaseDescription_c20201001__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--AdvancedTechnologiesMember__srt--StatementGeographicalAxis__custom--HampshireMember">terminate in 2026.

2500

13000

25000

43000

15500

4555

2022-08-31

6700

6453

456972

2024-02-28

30000

28719

2027-03-31

4570

2022-11-30

9400

7329

5771

2031-03-24

terminate in 2026

NOTE 20 – INCOME TAXES The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the maximum U.S. federal corporate tax rate from <span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_uPure_c20201001__20210930__srt--RangeAxis__srt--MinimumMember_zb4fQ7GoJUKh" title="US federal corporate tax">35% to 21%, allows net operating losses incurred in 2018 and beyond to be carried forward indefinitely, allows alternative minimum tax carryforwards to be partially refunded, beginning in 2018, and fully refunded by 2021, and creates new taxes on certain foreign sourced earnings. At September 30, 2021, the Company had approximately $37,099,262 of federal and $13,726,364 of state net operating losses. The net operating loss carryforwards, if not utilized, will begin to expire in 2036 for federal purposes and in 2036 for state purposes. The company is currently reviewing net operating losses for Section 382 limitation purposes and will make any required adjustments to the net operating losses at the completion of the study. <p id="xdx_89A_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zlNWMjEEcvvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a geographical breakdown of loss before the provision for income taxes: SCHEDULE OF (LOSS) INCOME BEFORE PROVISION FOR TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Restated</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20201001__20210930_pp0p0" style="width: 14%; text-align: right" title="Domestic">30,957</td><td style="width: 1%; text-align: left"/><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20191001__20200930_pp0p0" style="width: 14%; text-align: right" title="Domestic">(6,422,704</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Foreign</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">738,255</td><td style="text-align: left"/><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(933,531</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss before provision for income taxes</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20201001__20210930_zityMujlDbak" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before provision for income taxes">769,212</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20191001__20200930_zBx961twDnKi" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before provision for income taxes">(7,356,235</td><td style="text-align: left">)</td></tr> </table> Cemtrex Inc. and Subsidiaries The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current (benefit)/provision</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td> <td id="xdx_985_eus-gaap--CurrentFederalTaxExpenseBenefit_pp0p0_c20201001__20210930_zD58x04QQVxa" style="text-align: right" title="Current (benefit)/provision, Federal">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--CurrentFederalTaxExpenseBenefit_pp0p0_c20191001__20200930_zp3PTnLWgFod" style="text-align: right" title="Current (benefit)/provision, Federal">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 62%">State</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pp0p0_c20201001__20210930_zGcwPliMj7Yk" style="text-align: right; width: 16%">375,434</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pp0p0_c20191001__20200930_zoJjA7uuYHJ2" style="width: 16%; text-align: right" title="Current (benefit)/provision, State">(209,032</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--CurrentForeignTaxExpenseBenefit_pp0p0_c20201001__20210930_zH6DMRaidW9f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Current (benefit)/provision, Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CurrentForeignTaxExpenseBenefit_pp0p0_c20191001__20200930_z04s2wP9Otm7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Current (benefit)/provision, Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 20pt; text-align: left">Total current (benefit)/provision</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--CurrentIncomeTaxExpenseBenefit_pp0p0_maIT_c20201001__20210930_zqMUDgz7aaya" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current (benefit)/provision">375,434</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CurrentIncomeTaxExpenseBenefit_pp0p0_maIT_c20191001__20200930_zTxXO7reSn2c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current (benefit)/provision">(209,032</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred provision</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="text-align: right">2,282,867</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pp0p0_c20201001__20210930_z5ajnybw1aFg" style="text-align: right">-</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pp0p0_c20201001__20210930_zNisCWMPLUB9" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 20pt; text-align: left">Total deferred provision</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td> <td id="xdx_98E_eus-gaap--DeferredIncomeTaxExpenseBenefit_pp0p0_maIT_c20201001__20210930_zexNOdqTXia4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total deferred provision">-</td><td style="padding-bottom: 1.5pt; text-align: left"></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--DeferredIncomeTaxExpenseBenefit_pp0p0_maIT_c20191001__20200930_zF0xQkBnGrz" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total deferred provision">2,282,867</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Total (benefit)/provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_980_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtIT_c20201001__20210930_zsNIwnh06l54" style="border-bottom: Black 2.5pt double; text-align: right" title="Total (benefit)/provision for income taxes">375,434</td><td style="padding-bottom: 2.5pt; text-align: left"></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtIT_c20191001__20200930_z9ZoLwBnGNB9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total (benefit)/provision for income taxes">2,073,835</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective Income tax rate</td><td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20201001__20210930_zkfKNYrXJnaj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective Income tax rate">48.81</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-28.19</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8y1ZIhb5p9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a reconciliation of the effective income tax rate to the federal and state statutory rates: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">For the Fiscal Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">For the Fiscal Year</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Ended</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">U.S. statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.50</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-30.78</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of change in rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">21.31</td><td style="text-align: left">%</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-24.91</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective rate</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">48.81</td><td style="text-align: left">%</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20191001__20200930_zMzgqNJhXA89" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective rate">-28.19</td><td style="text-align: left">%</td></tr> </table> Cemtrex Inc. and Subsidiaries The components of our deferred tax assets and liabilities are summarized as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_494_20210930_z0Xi5yOoBsMi" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" id="xdx_49E_20200930_zjKiT3czg9Bj" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zOXlNIGSrMSk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzfzs_zcGopUxSTPd1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,702,738</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">20,482,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsInventory_iI_pp0p0_maDTAGzfzs_z9Yl2tI6ucy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,405,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsPrepaidExpenses_iI_pp0p0_maDTAGzfzs_zIptM7PjJpq6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsAllowanceForBadDebt_iI_pp0p0_maDTAGzfzs_zbiFc1nvd6Eg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Allowance for bad debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,345</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iI_pp0p0_maDTAGzfzs_zDJjI9EHEtgi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Fixed Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,271</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsGoodwillAmortization_iI_pp0p0_maDTAGzfzs_zolEJe8JZJq6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Goodwill amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsNonqualifiedStockOptions_iI_pp0p0_maDTAGzfzs_zR5nnXQ3dAU8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-qualified stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsWarrantsInterestExpense_iI_pp0p0_maDTAGzfzs_zwollaxXGUpd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warrants (interest expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsAccruals_iI_pp0p0_maDTAGzfzs_znrpIAORsBIf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">280,447</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,699,246</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves_iI_pp0p0_maDTAGzfzs_zbhhIGgGUgse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warranty Reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsForeign_iI_pp0p0_maDTAGzfzs_zcxmHrtENfW2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Foreign Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzfzs_zeHNCP18w5Cg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Other</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,358 </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzfzs_maDTANzjt6_ztSBEuXNJwl7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gross deferred taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,611,589</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,558,981</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzjt6_zZmYLGO5H1lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Valuation allowance</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,491,650</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,720,711</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzjt6_maDTALNzBa4_zjPX62lXDmq2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,119,939</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">838,270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zeDS6rKZ1uC6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxLiabilitiesInventoryAndOtherReserves_iNI_pp0p0_di_maDTLzAC6_zwnyNABE6nIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Inventory and other Reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(638,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts_iNI_pp0p0_di_maDTLzAC6_zUPsiikdtwzl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,277</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxLiabilitiesPrepaidExpenses_iNI_pp0p0_di_maDTLzAC6_z9uclAMT55mj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,934</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,563</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_iNI_pp0p0_di_maDTLzAC6_zfl9341jrRQe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Goodwill amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(557,074</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(428,395</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts_iNI_pp0p0_di_maDTLzAC6_zheGQvvdDVXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesDepreciation_iNI_pp0p0_di_maDTLzAC6_zgmywyOlKjm5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(836,701</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(319,090</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsGainlossOnFixedAssetDisposals_iNI_pp0p0_di_maDTLzAC6_ztYYMTizR5Ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain/loss on fixed asset disposal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesOther_iNI_pp0p0_di_maDTLzAC6_zc1WDuMLhCsk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Other</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"/><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42,945</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iNTI_pp0p0_di_mtDTLzAC6_msDTALNzBa4_zVFs6FueGZka" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,119,939</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(838,270</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pp0p0_mtDTALNzBa4_zJ7oABK1o9Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax assets (liabilities)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the maximum U.S. federal corporate tax rate from 35% to 21%

0.35

0.21

37099262

13726364

The net operating loss carryforwards, if not utilized, will begin to expire in 2036 for federal purposes and in 2036 for state purposes.

<p id="xdx_89A_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zlNWMjEEcvvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a geographical breakdown of loss before the provision for income taxes: SCHEDULE OF (LOSS) INCOME BEFORE PROVISION FOR TAX <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">Year ended September 30,</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center">Restated</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20201001__20210930_pp0p0" style="width: 14%; text-align: right" title="Domestic">30,957</td><td style="width: 1%; text-align: left"/><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20191001__20200930_pp0p0" style="width: 14%; text-align: right" title="Domestic">(6,422,704</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Foreign</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20201001__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">738,255</td><td style="text-align: left"/><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(933,531</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Loss before provision for income taxes</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20201001__20210930_zityMujlDbak" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before provision for income taxes">769,212</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20191001__20200930_zBx961twDnKi" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before provision for income taxes">(7,356,235</td><td style="text-align: left">)</td></tr> </table>

30957

-6422704

738255

-933531

769212

-7356235

The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current (benefit)/provision</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td> <td id="xdx_985_eus-gaap--CurrentFederalTaxExpenseBenefit_pp0p0_c20201001__20210930_zD58x04QQVxa" style="text-align: right" title="Current (benefit)/provision, Federal">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--CurrentFederalTaxExpenseBenefit_pp0p0_c20191001__20200930_zp3PTnLWgFod" style="text-align: right" title="Current (benefit)/provision, Federal">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 62%">State</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td id="xdx_983_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pp0p0_c20201001__20210930_zGcwPliMj7Yk" style="text-align: right; width: 16%">375,434</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pp0p0_c20191001__20200930_zoJjA7uuYHJ2" style="width: 16%; text-align: right" title="Current (benefit)/provision, State">(209,032</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_983_eus-gaap--CurrentForeignTaxExpenseBenefit_pp0p0_c20201001__20210930_zH6DMRaidW9f" style="border-bottom: Black 1.5pt solid; text-align: right" title="Current (benefit)/provision, Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CurrentForeignTaxExpenseBenefit_pp0p0_c20191001__20200930_z04s2wP9Otm7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Current (benefit)/provision, Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 20pt; text-align: left">Total current (benefit)/provision</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_980_eus-gaap--CurrentIncomeTaxExpenseBenefit_pp0p0_maIT_c20201001__20210930_zqMUDgz7aaya" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current (benefit)/provision">375,434</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CurrentIncomeTaxExpenseBenefit_pp0p0_maIT_c20191001__20200930_zTxXO7reSn2c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current (benefit)/provision">(209,032</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred provision</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="text-align: right">2,282,867</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">State</td><td> </td> <td style="text-align: left"> </td> <td id="xdx_98A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pp0p0_c20201001__20210930_z5ajnybw1aFg" style="text-align: right">-</td><td style="text-align: left"></td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt; padding-left: 10pt">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td id="xdx_987_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pp0p0_c20201001__20210930_zNisCWMPLUB9" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20191001__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; padding-left: 20pt; text-align: left">Total deferred provision</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td> <td id="xdx_98E_eus-gaap--DeferredIncomeTaxExpenseBenefit_pp0p0_maIT_c20201001__20210930_zexNOdqTXia4" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total deferred provision">-</td><td style="padding-bottom: 1.5pt; text-align: left"></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--DeferredIncomeTaxExpenseBenefit_pp0p0_maIT_c20191001__20200930_zF0xQkBnGrz" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total deferred provision">2,282,867</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: left">Total (benefit)/provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_980_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtIT_c20201001__20210930_zsNIwnh06l54" style="border-bottom: Black 2.5pt double; text-align: right" title="Total (benefit)/provision for income taxes">375,434</td><td style="padding-bottom: 2.5pt; text-align: left"></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtIT_c20191001__20200930_z9ZoLwBnGNB9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total (benefit)/provision for income taxes">2,073,835</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective Income tax rate</td><td> </td> <td style="text-align: left"> </td> <td id="xdx_989_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20201001__20210930_zkfKNYrXJnaj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Effective Income tax rate">48.81</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-28.19</td><td style="text-align: left">%</td></tr> </table>

375434

-209032

375434

-209032

2282867

375434

2073835

0.4881

-0.2819

<p id="xdx_893_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8y1ZIhb5p9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a reconciliation of the effective income tax rate to the federal and state statutory rates: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">For the Fiscal Year</td><td> </td><td> </td> <td colspan="2" style="text-align: center">For the Fiscal Year</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">Ended</td><td> </td><td> </td> <td colspan="2" style="text-align: center">Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">U.S. statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.50</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign tax rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-30.78</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effect of change in rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.00</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Permanent differences</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">21.31</td><td style="text-align: left">%</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-24.91</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Effective rate</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">48.81</td><td style="text-align: left">%</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20191001__20200930_zMzgqNJhXA89" style="border-bottom: Black 2.5pt double; text-align: right" title="Effective rate">-28.19</td><td style="text-align: left">%</td></tr> </table>

0.2100

0.0650

0.0000

-0.0000 -0.3078 0.0000 0.0000

-0.2131

-0.2491

0.4881

-0.2819

The components of our deferred tax assets and liabilities are summarized as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_494_20210930_z0Xi5yOoBsMi" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2021</td><td> </td><td> </td> <td colspan="2" id="xdx_49E_20200930_zjKiT3czg9Bj" style="border-bottom: Black 1.5pt solid; text-align: center">September 30, 2020</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Restated</td><td> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zOXlNIGSrMSk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred Tax Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzfzs_zcGopUxSTPd1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,702,738</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">20,482,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsInventory_iI_pp0p0_maDTAGzfzs_z9Yl2tI6ucy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,405,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsPrepaidExpenses_iI_pp0p0_maDTAGzfzs_zIptM7PjJpq6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredTaxAssetsAllowanceForBadDebt_iI_pp0p0_maDTAGzfzs_zbiFc1nvd6Eg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Allowance for bad debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,345</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,491</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_iI_pp0p0_maDTAGzfzs_zDJjI9EHEtgi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Fixed Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,271</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DeferredTaxAssetsGoodwillAmortization_iI_pp0p0_maDTAGzfzs_zolEJe8JZJq6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Goodwill amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsNonqualifiedStockOptions_iI_pp0p0_maDTAGzfzs_zR5nnXQ3dAU8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-qualified stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsWarrantsInterestExpense_iI_pp0p0_maDTAGzfzs_zwollaxXGUpd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warrants (interest expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsAccruals_iI_pp0p0_maDTAGzfzs_znrpIAORsBIf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">280,447</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,699,246</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves_iI_pp0p0_maDTAGzfzs_zbhhIGgGUgse" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Warranty Reserve</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsForeign_iI_pp0p0_maDTAGzfzs_zcxmHrtENfW2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Foreign Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTAGzfzs_zeHNCP18w5Cg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Other</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,358 </td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzfzs_maDTANzjt6_ztSBEuXNJwl7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gross deferred taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,611,589</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,558,981</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTANzjt6_zZmYLGO5H1lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Valuation allowance</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9,491,650</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,720,711</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzjt6_maDTALNzBa4_zjPX62lXDmq2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net deferred tax assets</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,119,939</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">838,270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zeDS6rKZ1uC6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred Tax Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxLiabilitiesInventoryAndOtherReserves_iNI_pp0p0_di_maDTLzAC6_zwnyNABE6nIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Inventory and other Reserves</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(638,230</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts_iNI_pp0p0_di_maDTLzAC6_zUPsiikdtwzl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,277</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxLiabilitiesPrepaidExpenses_iNI_pp0p0_di_maDTLzAC6_z9uclAMT55mj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,934</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,563</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_iNI_pp0p0_di_maDTLzAC6_zfl9341jrRQe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Goodwill amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(557,074</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(428,395</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts_iNI_pp0p0_di_maDTLzAC6_zheGQvvdDVXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/></tr> <tr id="xdx_409_ecustom--DeferredTaxLiabilitiesDepreciation_iNI_pp0p0_di_maDTLzAC6_zgmywyOlKjm5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(836,701</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(319,090</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsGainlossOnFixedAssetDisposals_iNI_pp0p0_di_maDTLzAC6_ztYYMTizR5Ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Gain/loss on fixed asset disposal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"/></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesOther_iNI_pp0p0_di_maDTLzAC6_zc1WDuMLhCsk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Other</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="text-align: left"/><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(42,945</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iNTI_pp0p0_di_mtDTLzAC6_msDTALNzBa4_zVFs6FueGZka" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,119,939</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(838,270</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pp0p0_mtDTALNzBa4_zJ7oABK1o9Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax assets (liabilities)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

8702738

20482973

1405057

35345 3491

19271

1155642 280447 2699246

28002

354000

4358

11611589

23558981

9491650

22720711

2119939

838270

638230

2277

87934

45563

557074

428395

836701 319090

42945

2119939

838270

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 <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20211016__20211018__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--SeriesOnePreferredStockMember_zu8jXZbQ9Sja" title="Number of shares 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, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211029__20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zw7QjTQzLayj" title="Number of shares of common stock">2,891,016 shares of common stock were issued to satisfy $2,466,478 of notes payable and accumulated interest.

971500

94602

2891016

2466478

Net of unamortized original issue discounts of $950,000