Cemtrex(US:CETX)2023-05-10 16:00PART I. FINANCIAL INFORMATION Item 1. Financial Statements Presents Cemtrex, Inc.'s unaudited condensed consolidated financial statements and detailed notes for the specified periods Condensed Consolidated Balance Sheets | Metric | March 31, 2023 | September 30, 2022 | | :---------------------- | :------------- | :----------------- | | Total Assets | $40,404,180 | $45,757,628 | | Total Current Assets | $26,122,375 | $31,767,767 | | Total Liabilities | $32,334,972 | $31,120,090 | | Total Current Liabilities | $25,738,436 | $25,514,795 | | Total Stockholders' Equity | $7,380,364 | $13,944,796 | - Total assets decreased by approximately $5.35 million, and total stockholders' equity decreased by approximately $6.56 million from September 30, 2022, to March 31, 20236184 Condensed Consolidated Statements of Operations | Metric (3 months ended March 31) | 2023 | 2022 | Change ($) | Change (%) | | :------------------------------- | :------------- | :------------- | :----------- | :--------- | | Revenues | $16,073,397 | $11,746,017 | $4,327,380 | 36.84% | | Gross Profit | $7,338,481 | $3,769,781 | $3,568,700 | 94.66% | | Operating Income/(Loss) | $404,873 | $(2,894,222) | $3,299,095 | 113.99% | | Net Loss | $(539,529) | $(4,801,923) | $4,262,394 | 88.76% | | Net Loss Attributable to Cemtrex, Inc. Shareholders | $(594,794) | $(4,721,247) | $4,126,453 | 87.39% | | Basic & Diluted EPS (Continuing Operations) | $(0.75) | $(5.86) | $5.11 | 87.20% | | Basic & Diluted EPS (Discontinued Operations) | $0.02 | $(1.00) | $1.02 | 102.00% | | Weighted Average Shares (Basic & Diluted) | 815,498 | 688,255 | 127,243 | 18.49% | | Metric (6 months ended March 31) | 2023 | 2022 | Change ($) | Change (%) | | :------------------------------- | :------------- | :------------- | :----------- | :--------- | | Revenues | $28,043,639 | $21,159,412 | $6,884,227 | 32.53% | | Gross Profit | $12,381,096 | $6,992,031 | $5,389,065 | 77.07% | | Operating Income/(Loss) | $(1,546,563) | $(6,192,821) | $4,646,258 | 75.02% | | Net Loss | $(6,875,903) | $(9,331,746) | $2,455,843 | 26.32% | | Net Loss Attributable to Cemtrex, Inc. Shareholders | $(6,872,005) | $(9,199,198) | $2,327,193 | 25.30% | | Basic & Diluted EPS (Continuing Operations) | $(4.63) | $(11.51) | $6.88 | 59.77% | | Basic & Diluted EPS (Discontinued Operations) | $(4.09) | $(2.14) | $(1.95) | -91.12% | | Weighted Average Shares (Basic & Diluted) | 788,265 | 673,943 | 114,322 | 16.96% | Condensed Consolidated Statements of Comprehensive Loss | Metric (3 months ended March 31) | 2023 | 2022 | Change ($) | Change (%) | | :------------------------------- | :------------- | :------------- | :----------- | :--------- | | Net Loss | $(539,529) | $(4,801,923) | $4,262,394 | 88.76% | | Foreign Currency Translation Loss | $(317,218) | $(199,623) | $(117,595) | -58.91% | | Comprehensive Loss | $(856,747) | $(5,001,546) | $4,144,799 | 82.87% | | Comprehensive Loss Attributable to Cemtrex, Inc. Shareholders | $(801,482) | $(5,082,222) | $4,280,740 | 84.23% | | Metric (6 months ended March 31) | 2023 | 2022 | Change ($) | Change (%) | | :------------------------------- | :------------- | :------------- | :----------- | :--------- | | Net Loss | $(6,875,903) | $(9,331,746) | $2,455,843 | 26.32% | | Foreign Currency Translation Loss | $(93,649) | $(140,131) | $46,482 | 33.17% | | Comprehensive Loss | $(6,969,552) | $(9,471,877) | $2,502,325 | 26.42% | | Comprehensive Loss Attributable to Cemtrex, Inc. Shareholders | $(6,973,450) | $(9,604,425) | $2,630,975 | 27.39% | Condensed Consolidated Statement of Stockholders' Equity | Equity Item (March 31, 2023) | Shares Issued | Amount ($) | | :--------------------------- | :------------ | :--------- | | Series 1 Preferred Stock | 2,183,463 | $2,183 | | Series C Preferred Stock | 50,000 | $50 | | Common Stock | 828,570 | $828 | | Additional Paid-in Capital | | $67,042,743 | | Accumulated Deficit | | $(61,801,025) | | Treasury Stock | | $(148,291) | | Accumulated Other Comprehensive Income | | $2,283,876 | | Total Cemtrex Stockholders' Equity | | $7,380,364 | - During the six months ended March 31, 2023, the company issued 104,341 shares of Series 1 Preferred Stock for dividends and 39,016 shares of common stock to satisfy notes payable and accrued interest, with an additional 15,529 common shares issued for services189205 - A 35:1 reverse stock split on common stock was completed on January 25, 2023, retroactively adjusting all share and per share data85214 Condensed Consolidated Statements of Cash Flows | Cash Flow Activity (6 months ended March 31) | 2023 | 2022 | Change ($) | Change (%) | | :------------------------------------------- | :------------- | :------------- | :----------- | :--------- | | Net Cash Used by Operating Activities | $(2,894,916) | $(7,462,598) | $4,567,682 | 61.21% | | Net Cash Used by Investing Activities | $(252,706) | $(5,427,757) | $5,175,051 | 95.34% | | Net Cash (Used)/Provided by Financing Activities | $(920,127) | $6,484,337 | $(7,404,464) | -114.19% | | Net Decrease in Cash, Equivalents, and Restricted Cash | $(4,067,749) | $(6,406,018) | $2,338,269 | 36.50% | | Cash, Equivalents, and Restricted Cash at End of Period | $7,279,334 | $10,630,229 | $(3,350,895) | -31.52% | - Operating cash outflow significantly improved, decreasing by 61.21% year-over-year for the six months ended March 31, 2023, primarily due to improved net loss and changes in working capital[3