CEMTREX INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CEMTREX INC filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial performance and operational status.</b>

AI Summary

CEMTREX INC (CETXP) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. CEMTREX INC filed a 10-Q report for the period ending March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. It also includes comparative data for the period from January 1, 2023, to March 31, 2023. The company's fiscal year ends on September 30. CEMTREX INC is incorporated in Delaware and operates in the Electronic Components & Accessories industry.

Why It Matters

For investors and stakeholders tracking CEMTREX INC, this filing contains several important signals. This 10-Q filing provides investors with an updated view of CEMTREX INC's financial health and operational progress for the first quarter of 2024. The report allows stakeholders to compare the company's performance against the same period in the previous year, offering insights into trends and growth.

Risk Assessment

Risk Level: low — CEMTREX INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand CEMTREX INC's current financial position and future outlook.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Company's fiscal year end)
• 3670 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CEMTREX INC (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• 276 GREENPOINT AVE. BLD 8 SUITE 208 (address) — Business and mail address
• BROOKLYN (location) — City for business and mail address
• NY (location) — State for business and mail address
• 11222 (postal_code) — ZIP code for business and mail address
• 631 756 9116 (phone_number) — Business phone number

FAQ

Industry Context

CEMTREX INC operates within the Electronic Components & Accessories industry, classified under SIC code 3670.

Regulatory Implications

As a publicly traded company, CEMTREX INC is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports on Form 10-Q.

What Investors Should Do

1. Analyze the financial statements for the quarter ended March 31, 2024.
2. Compare the current quarter's performance with the same period in the prior year.
3. Review any disclosures regarding business operations, risks, and legal proceedings.

Key Dates

• 2024-03-31: Quarterly Period End — The end date for the financial reporting period covered by the 10-Q.
• 2024-05-14: Filing Date — The date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the period ending March 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — Series C Common Stock Par Par Value $0.001 Par Value $0.001 Value $0.001 Treas

Filing Documents

• form10-q.htm (10-Q) — 1737KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-q_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-019239.txt (&nbsp;) — 8236KB
• cetx-20240331.xsd (EX-101.SCH) — 64KB
• cetx-20240331_cal.xml (EX-101.CAL) — 104KB
• cetx-20240331_def.xml (EX-101.DEF) — 247KB
• cetx-20240331_lab.xml (EX-101.LAB) — 482KB
• cetx-20240331_pre.xml (EX-101.PRE) — 381KB
• form10-q_htm.xml (XML) — 1230KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and September 30, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statement of Stockholders' Equity for the three and six months ended March 31, 2024 (Unaudited) 6 Condensed Consolidated Statement of Stockholders' Equity for the three and six months ended March 31, 2023 (Unaudited) 7 Condensed Consolidated Statements of Cash Flow for the six months ended March 31, 2024 and 2023 (Unaudited) 8 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 35 2 Part I. Financial Information Item 1. Financial Statements Cemtrex, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) March 31, September 30, 2024 2023 Assets Current assets Cash and cash equivalents $ 2,916,120 $ 5,329,910 Restricted cash 1,172,416 1,019,652 Short-term investments 13,853 13,663 Trade receivables, net 11,535,880 9,209,695 Trade receivables, net - related party 1,479,703 1,143,342 Inventory, net 7,397,747 8,739,219 Contract assets, net 1,979,679 1,739,201 Prepaid expenses and other current assets 1,910,415 2,098,359 Total current assets 28,405,813 29,293,041 Property and equipment, net 8,902,051 9,218,701 Right-of-use operating lease assets 2,193,011 2,287,623 Royalties receivable, net - related party 440,049 674,893 Note receivable, net - related party 761,585 761,585 Goodwill 4,381,891 4,381,891 Other 2,161,862 1,836,009 Total Assets $ 47,246,262 $ 48,453,743 Liabilities & Stockholders' Equity Current liabilities Accounts payable $ 5,741,091 $ 6,196,406 Accounts payable - related party 9,214 68,509 Sales tax payable 37,487 35,829 Revolving line of credit 4,019,234 - Current maturities of long-term liabilities 914,170 14,507,711 Operating lease liabilities - short-term 792,141 741,487 Deposits from customers 207,708 57,434 Accrued expenses 2,676,079 2,784,390 Contract liabilities 1,899,409 980,319 Deferred revenue 1,404,608 1,583,406 Accrued income taxes 404,288 388,627 Total current liabilities 18,105,429 27,344,118 Long-term liabilities Long-term debt 21,553,920 9,929,348 Long-term operating lease liabilities 1,462,545 1,607,202 Other long-term liabilities 317,093 501,354 Deferred Revenue - long-term 654,617 727,928 Total long-term liabilities 23,988,175 12,765,832 Total liabilities 42,093,604 40,109,950 Commitments and contingencies - - Stoc

View Full Filing

View this 10-Q filing on SEC EDGAR