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CETXP

CETXP US Stock
$2.53
Open: $2.58 High: $2.58 Low: $2.3 Close: $2.45
Range: 2021-03-02 - 2021-03-03
Volume: 1,189
Market: Open
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CETXP
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  • Cemtrex Reports Fourth Quarter and Full Year 2020 Financial Results

    2020 Revenue Increases 11% to $43.5 Million & 2020 Gross Profit Margin Increases 400 Basis Points to 44%Brooklyn, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has reported its financial and operational results for the fourth quarter and year ended September 30, 2020. Key Fourth Quarter 2020 and Subsequent Operational Highlights * Received a $1 million order for a security technology system through its Advanced Technology Segment for a state-of-the-art video surveillance security system, including its Valerus software solution as well as cameras and related storage hardware, for a large correctional facility in the United Kingdom. * Vicon subsidiary released highly advanced updated Thermal Sensor models, a 360-degree surveillance solution that combines powerful high-end thermal technology with high-resolution PTZs (pan/tilt/zoom) for unparalleled perimeter protection in wide-open spaces like power stations, airports, corrections facilities, construction sites, and other secure facilities. * Engaged international investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program across all key markets. * Subsidiary Vicon awarded a $500,000 contract from a major Pacific Northwest school district for its V1110 series Thermal Body Temperature Measurement Camera. * Received a $500,000 order to upgrade a security technology system through the Advanced Technology Segment for a large Tennessee based corrections facility. * Completed acquisition of training simulation technology company Virtual Driver Interactive (VDI) to enhance the Company’s Augmented & Virtual Reality Growth Segment and VR Training product line. * Subsidiary VDI now offering the Driving EssentialsXE program on the newly released Sony PS5 and Microsoft Xbox Series X platforms, in addition to their full line of simulation training products for schools and public safety organizations. * Made a strategic investment into MasterpieceVR, the developer of a professional desktop and VR application suite that offers 3D content creation tools, primarily for virtual reality. * Unveiled the SmartDesk Connect, an advanced workstation that includes 4K UHD monitors, a sit-stand desk, ergonomic tabletop, with built-in wireless phone charger, all powered by a user’s laptop when connected to the SmartDesk.Full Year 2020 Operational Highlights * WordPress VIP, the leading provider of enterprise WordPress, added CemtrexLabs to its prestigious Featured Agency Partner program, one of only 30 partners in this prestigious group and the first agency partner with full stack virtual and augmented reality (VR, AR & MR) capabilities. * Acquired two properties the Company had been leasing for its industrial segment business located in the York, PA area including a 48,000 sq ft and 25,000 sq ft facility, used for office, manufacturing, and warehousing needs. * Received over $300,000 in new orders for the development of virtual reality (VR) and augmented reality (AR) applications from 3 different customers, representing a 500% increase in the quarter from the prior year. * Received orders totaling over $2 million in its Advanced Technology segment for several security surveillance systems for government and commercial buildings including correctional facilities, including software development services for web, mobile, enterprise, and virtual reality applications. * Granted first patent for Cemtrex’s revolutionary and groundbreaking IoT product, the SmartDesk, which increases productivity and modernizes the personal workspace. * Vicon subsidiary released new Thermal Body Temperature Measurement Camera, the V1100B-THM-TEMP, designed to help organizations of all types to minimize the risk of reopening their facilities during the COVID-19 global pandemic. * Closed two registered direct offering priced at-the-market of $5.5 million and $5.4 million. * Vicon subsidiary released advanced edge-based analytics for select camera lines, including the new V980 series which can proactively alert security operators to critical events such as theft, suspicious objects, crowds gathering and more.Management CommentaryCemtrex’s Chairman and CEO, Saagar Govil, commented on the results: “2020 has been a milestone year for our company as we continued to innovate, grow and expand Cemtrex. Despite the challenges of a global pandemic, we increased revenues by 11% for the year, a testament to our team’s hard work and our focus on product development and strategic acquisition opportunities. We anticipate top line growth to continue in the coming year as our market returns to normal and customers reopen for business and resume purchasing.“In our 2020 fiscal first quarter we made significant progress in restructuring our businesses for the future, improving both EBITDA and gross margins, and saw a return to generating an operating profit. In the second quarter, we continued to see improvement in our businesses despite the short-term effects of COVID-19. We remained focused on executing our development roadmap of high tech products in IoT, AR & VR, as well as in Artificial Intelligence and Machine Vision. We received new orders across all our business segments, including a 500% increase in new orders for development of AR/VR applications and $2 million in new orders in our Advanced Technologies segment.“During our third quarter we received a major cash infusion of over $10 million from institutional investors which bolstered the balance sheet and fueled the Company for growth. With the financings completed, we have substantial cash to meet and accelerate the release of several exciting and innovative products we plan to deliver over the next twelve months.“Highlights from the fourth quarter included new contracts and upgraded products under our security technology brand, Vicon. This included a first of its kind order of its Thermal Body Temperature Measurement Cameras to assist in the detection and mitigation of COVID-19 risk at a major school district in the Pacific Northwest. Vicon also began offering an upgraded Thermal Sensor model for clients like airports and correctional facilities looking for cost-effective and comprehensive solutions to enhance their perimeter surveillance systems. During the fourth quarter we also expanded our commitment to the capital markets and to shareholders through enhanced investor relations initiatives with our new partner MZ Group.“More recently, in our first quarter of 2021, we announced the next generation SmartDesk, the SmartDesk Connect. The product is an evolution of original patented SmartDesk, providing may of the same features but also allowing users to use their own laptop instead of a built-in PC. Finally, our strategic acquisitions efforts paid off with the completion of our acquisition of Virtual Driver Interactive, a training simulation technology company, to enhance our Augmented & Virtual Reality growth segment & VR Training product line. Our investment in MasterpieceVR further complemented this segment, allowing us to capture more upside as the VR market continues to accelerate.“Throughout the year, we have striven to drive forward our business, achieving several key milestones in our internal roadmap with a focus on innovation and product development. 2020 was marked by our significant achievements across business segments, and our fortified our balance sheet. This is an exciting time for Cemtrex, and I believe we are well positioned to create sustainable value for our shareholders,” concluded Govil.Fourth Quarter and Full Year 2020 Financial ResultsRevenue for the full year of 2020 totaled $43.5 million, compared to revenue of $39.3 million for the full year of 2019, an 11% increase year over year. Revenues for the fourth quarter of 2020 were $10.7 million, compared to $10.9 million in the fourth quarter of 2019. The increase in revenues for the year were due to sales increases in the Advanced Technology Segment, with segment revenues for the years ended September 30, 2020 and 2019 of $25.8 million and $19.3 million respectively, an increase of 34%. Industrial Services segment revenues for the full year 2020 decreased by 11%, to $17.8 million, primarily due to the decrease in demand for services due to the COVID-19 crisis.Gross profit for the full year of 2020 was $19.4 million, or 44% of revenues, of which the fourth quarter contributed $5.4 million. The Company's 2020 gross margin increase was a result of the sale of products and services with higher profit margins.  Total operating expenses for 2020 were $23.4 million, of which $6.1 million were incurred in the fourth quarter. Total operating expenses for 2019 totaled $23.0 million. The increase in total operating expenses was primarily driven by increases in personnel costs, insurance and research and development, offset by savings measures enacted during the fiscal year.Operating activities for continuing operations used $2.2 million for the year ended September 30, 2020 compared to using $3.6 million of cash for the year ended September 30, 2019.The Adjusted EBITDA loss decreased by 87%, with $1.063 million loss in the year ended September 30, 2020, compared to $8.035 million loss for the year ended September 30, 2019. For the fourth quarter the Adjusted EBITDA increased by 108%, with a positive Adjusted EBITDA of $311 thousand in 2020, compared to a negative Adjusted EBITDA of $3.990 million for the same period in 2019. A reconciliation table of the adjusted EBITDA is provided below.Net loss for the full year of 2020 was $13.1 million, as compared to a net loss of $24.3 million in 2019. Net loss in the fourth quarter of 2020 totaled $4.4 million compared to a net loss of $16.3 million in the fourth quarter of 2019.Cash and cash equivalents totaled $19.7 million at September 30, 2020, as compared to $12.9 million at June 30, 2020 and $1.8 million at September 30, 2019.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Non-GAAP Adjusted EBITDA Reconciliation TableFollowing is a reconciliation of income from continuing operations attributable to the Company for the three months and year ended September 30, 2020 as presented in accordance with United States generally accepted accounting principles (GAAP) to EBITDA. Three Months Ended September 30,  Year Ended September 30, 2020 In Thousands2020 2019  2020  2019  Net loss from continuing operations (GAAP measure)$2,387 $5,665  $8,894  $11,303  Non-GAAP adjustments:            Interest expense paid in equity shares 96  302   2,859   1,590  Income Tax Benefits 1,877  619   2,074   (1,336) Depreciation and amortization 725  754   2,898   3,014                            Adjusted Net Income/ (Loss)$311 $(3,990) $(1,063) $(8,035) Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. Cemtrex Inc. and SubsidiariesCONSOLIDATED BALANCE SHEETS  September 30,  September 30,  Assets 2020  2019  Current assets         Cash and equivalents $19,490,061  $1,769,994  Restricted cash  1,582,798   1,088,091  Short-term investments  887,746   412,730  Accounts receivables, net  6,686,797   6,458,984  Accounts receivables - related party  1,432,209   771,519  Notes receivable - short-term  -   1,713,371  Inventory –net of allowance for inventory obsolescence  6,793,806   5,207,155  Prepaid expenses and other assets  1,188,317   1,455,765  Total current assets  38,061,734   18,877,609            Property and equipment, net  9,558,936   16,776,552  Right-of-use assets  2,728,380   -  Assets held for sale  8,323,321   -  Goodwill  4,370,894   4,370,894  Notes receivable - long-term  -   1,586,918  Deferred tax asset  -   2,282,867  Other  744,207   497,857  Total Assets $63,787,472  $44,392,697            Liabilities & Stockholders’ Equity         Current liabilities         Accounts payable $2,857,817  $4,236,945  Current portion of long-term liabilities  7,034,510   6,817,534  Lease liabilities - short-term  721,036   22,718  Deposits from customers  29,660   33,074  Accrued expenses  2,392,487   2,673,646  Deferred revenue  1,651,784   1,433,803  Accrued income taxes  89,318   419,541  Total current liabilities  14,776,612   15,637,261            Long-term liabilities         Loans payable to bank, net of current portion  1,871,201   2,240,526  Long-term lease liabilities, net of current portion  2,027,406   20,061  Notes payable, net of current portion  6,029,999   2,817,661  Mortgage payable, net of current portion  2,355,542   -  Other long-term liabilities  1,063,733   1,221,549  Series 1 preferred stock dividends payable  1,081,690   -  Paycheck Protection Program Loans  2,169,437   -  Deferred revenue - long-term  467,329   489,535  Total long-term liabilities  17,066,337   6,789,332  Total liabilities  31,842,949   22,426,593            Commitments and contingencies  -   -            Stockholders’ equity         Preferred stock , $0.001 par value, 10,000,000 shares authorized,         Series 1, 3,000,000 shares authorized, 2,156,784 shares issued and outstanding as of September 30, 2020 and 2,110,718 shares issued and outstanding as of September 30, 2019 (liquidation value of $10 per share)  2,157   2,111  Series A, 1,000,000 shares authorized, issued and outstanding at September 30, 2020 and September 30, 2019  1,000   1,000  Series C, 100,000 shares authorized, issued and outstanding at September 30, 2020  100   -  Common stock, $0.001 par value, 40,000,000 shares authorized, 17,622,539 shares issued and outstanding at September 30, 2020 and 3,962,790 shares issued and outstanding at September 30, 2019  17,623   3,963  Additional paid-in capital  63,313,336   40,344,837  Accumulated deficit  (33,172,690)  (20,067,685) Treasury stock at cost  (148,291)  -  Accumulated other comprehensive income  853,643   796,004  Cemtrex stockholders’ equity  30,866,878   21,080,230  Non-controlling interest  1,077,645   885,874  Total liabilities and stockholders’ equity $63,787,472  $44,392,697  Cemtrex Inc. and SubsidiariesCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME   For the year ended    September 30, 2020  September 30, 2019          Revenues $43,518,384  $39,265,041  Cost of revenues  24,153,937   23,702,367  Gross profit  19,364,447   15,562,674            Operating expenses         General and administrative  21,570,666   21,528,145  Research and development  1,827,286   1,481,879  Total operating expenses  23,397,952   23,010,024  Operating loss  (4,033,505)  (7,447,350)           Other income (expense)         Other Income  1,821,029   (62,705) Loss on equity interests  -   (342,776) Interest expense  (4,607,453)  (4,785,506) Total other expense, net  (2,786,424)  (5,190,987)           Net loss before income taxes  (6,819,929)  (12,638,337) Income tax benefit/(expense)  (2,073,835)  1,335,584  Loss from continuing operations  (8,893,764)  (11,302,753)           Loss from discontinued operations, net of tax  (812,895)  (10,559,963)           Net loss  (9,706,659)  (21,862,716)           Less income in noncontrolling interest  227,116   502,225  Net loss $(9,933,775) $(22,364,941) Preferred dividends  (3,171,230)  (1,965,500) Net loss available to Cemtrex, Inc. shareholders $(13,105,005) $(24,330,441)           Other comprehensive income         Foreign currency translation gain  57,639   1,624,253  Other comprehensive income attributable to noncontrolling interest  (35,345)  (344,952) Comprehensive income  22,294   1,279,301            Comprehensive loss $(13,082,711) $(23,051,140)           Loss Per Share-Basic         Continuing Operations $(1.28) $(6.07) Discontinued Operations $(0.08) $(4.66) Loss Per Share-Diluted         Continuing Operations $(1.28) $(6.07) Discontinued Operations $(0.08) $(4.66)           Weighted Average Number of Shares-Basic  9,611,516   2,267,501  Weighted Average Number of Shares-Diluted  9,611,516   2,267,501  Cemtrex Inc. and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWS  For the year ended    September 30,   Cash Flows from Operating Activities 2020  2019          Net loss $(9,706,659) $(21,862,716) Net loss from discontinued operations  (812,895)  (10,559,963) Net loss from continuing operations  (8,893,764)  (11,302,753)           Adjustments to reconcile net loss to net cash provided/(used) by operating activities:         Depreciation and amortization  2,898,399   3,013,986  Gain/(loss) on disposal of property & equipment  37,910   471,019  Amortization of right-of-use assets  816,550   -  Change in allowance for inventory obsolescence  636,981   -  Change in allowance for doubtful accounts  (265,203)  -  Amortization of original issue discounts on notes payable  944,778   108,222  Share-based compensation  191,416   622,232  Interest expense paid in equity shares  2,859,125   1,590,374  Income tax expense/(benefit)  2,073,835   (1,335,584) Loss on equity interests  -   342,776  Changes in operating assets and liabilities net of effects from acquisition of subsidiaries:         Accounts receivable  37,390   3,082,635  Accounts receivable - related party  (660,690)  (61,799) Inventory  (2,223,632)  1,341,569  Prepaid expenses and other current assets  267,448   (240,732) Other assets  (246,350)  (27,418) Other liabilities  (157,816)  1,221,549  Accounts payable  (846,340)  (2,114,250) Operating lease liabilities  (816,549)  -  Deposits from customers  (3,414)  (17,545) Accrued expenses  (4,820)  (493,921) Deferred revenue  195,775   228,024  Income taxes payable  (121,191)  -  Net cash used by operating activities - continuing operations  (3,280,162)  (3,571,616) Net cash provided/(used) by operating activities - discontinued operations  (812,895)  7,507,090  Net cash provided/(used) by operating activities  (4,093,057)  3,935,474            Cash Flows from Investing Activities         Net change in self-insured benefit deposits  (494,707)  (1,659,480) Purchase of property and equipment  (1,566,014)  14,000  Purchase of marketable securities  (475,016)  (398,291) Payments received on notes receivable  3,300,289      Net cash provided/(used) by investing activities - continuing operations  764,552   (2,043,771) Net cash provided by investing activities - discontinued operations  -   8,883,541  Net cash provided/(used) by investing activities  764,552   6,839,770            Cash Flows from Financing Activities         Proceeds from notes payable  8,485,000   2,595,000  Payments on notes payable  (851,640)  (414,859) Issuance of notes receivable  -   (3,300,289) Proceeds on bank loans  3,831,100   -  Payments on bank loans  (778,090)  (1,440,535) Proceeds from securities purchase agreements  12,462,648   -  Expenses on securities purchase agreements  (840,728)  -  Proceeds from at-the-market offerings  -   957,784  Expenses on at-the-market offerings  -   (41,438) Proceeds from the issuance of Series B Preferred Stock  -   500,000  Expenses from the issuance of Series B Preferred Stock  -   (25,000) Settlement of Series B Preferred Stock in cash  -   (273,092) Revolving line of credit  (425,812)  (925,124) Purchases of treasury stock  (338,775)  -  Payments on capital lease liabilities  (22,718)  (24,286) Net cash provided/used by financing activities - continuing operations  21,520,985   (2,391,839) Net cash used by financing activities - discontinued operations  -   (9,465,508) Net cash provided/(used) by financing activities  21,520,985   (11,857,347)           Effect of currency translation  22,294   1,624,253  Net increase in cash, cash equivalents, and restricted cash  18,192,480   (1,082,103) Cash, cash equivalents, and restricted cash at beginning of period  2,858,085   2,315,935  Cash, cash equivalents, and restricted cash at end of period $21,072,859  $2,858,085            Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash         Cash and equivalents $19,490,061  $1,769,994  Restricted cash  1,582,798   1,088,091  Total cash, cash equivalents, and restricted cash $21,072,859  $2,858,085            CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Launches Next Generation SmartDesk for Laptop Users

    State-of-the-Art SmartDesk Connect  Includes 4K UHD Monitors, Sit-Stand Desk, Ergonomic Tabletop & Built-In Wireless Phone ChargerBrooklyn, NY, Dec. 17, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today unveiled its new SmartDesk, the SmartDesk Connect. The SmartDesk Connect is an advanced workstation that includes 4K UHD monitors, a sit-stand desk, ergonomic tabletop, with built-in wireless phone charger, all powered by a user’s laptop when connected to the SmartDesk.The product is an evolution of the Company’s original SmartDesk, which is an advanced workstation that includes a powerful Windows 10 machine. This new SmartDesk Connect provides much of the same features but allows users to use their own laptop instead of a built-in PC. This allows the product to work with both Windows and MacOS.The Company is expected to start taking orders on the product in January and shipping of units planned to start approximately four to eight weeks thereafter. The Company will be manufacturing the SmartDesk Connect in New York, from imported parts. The SmartDesk Connect will be available for purchase at $2299, with shipping and installation included.To learn more about SmartDesk Connect, watch the SmartDesk Connect video here.“Today is an important milestone for Cemtrex as we launch our next generation SmartDesk that encompasses new capabilities for today’s enterprise and retail consumers,” said Cemtrex’s CEO, Saagar Govil. “Now more than ever in today’s Covid-19 landscape, delivering a Mac and Windows  agnostic solution, whether for remote workers to bolster their home office setup or for enterprises looking to modernize their work environment, is paramount and something that our customers have expressed an interest in. I am also happy to report that the SmartDesk Connect will be made in the USA and we are proud to bring additional jobs to the NYC Metro area in the months and years to come,” concluded Govil.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Announces Engagements with Major Consumer Brands to Utilize AR/VR in Digital Marketing Campaigns

    HBO Max and Modelo USA Harnessing Next-Generation Augmented & Virtual Reality Experiences to Promote Customer InterestBrooklyn, NY, Dec. 08, 2020 (GLOBE NEWSWIRE) --   Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality (AR/VR), today announced ongoing engagements with HBO Max, a pay television network, and Modelo USA, brewer of Modelo beer, to create AR/VR technology experiences in two digital marketing campaigns. For HBO Max, Cemtrex built a dynamic digital marketing campaign for HBO Max’s first exclusive movie, Charm City Kings. Cemtrex Labs, a Cemtrex Company, delivered eye-catching social media assets, a portal for a writing contest, along with an AR face filter and name generator to drive social engagement. The campaign combines the best of traditional digital marketing campaigns with exciting AR technology to reach a wider audience, boost social engagement and build awareness for the movie.For Modelo, Cemtrex Labs built a powerful augmented reality web experience to promote the company’s Modelo x RSVP WebAR Sweepstakes. RSVP Gallery, a conceptual retail experience, and Modelo USA partnered to create a co-branded apparel collection that pays homage to the fighting spirit of Chicago’s iconic sports culture. The experience allows users to engage with the apparel in AR before entering the sweepstakes.  “The challenge to reach target audiences and engage them in a fun, sustained and creative way is driving interest in our services, and we are excited to be working with some of the most well-known names in the industry,” commented Cemtrex’s CEO, Saagar Govil. “Adding AR/VR experiences to mobile and digital campaigns is proving effective to increase participation, improve consumer interaction and drive results. We believe our AR/VR segment will continue to win additional contracts with partners and global brands who are seeking the best technologies combined with our proven development process.”About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Makes Strategic Investment into MasterpieceVR

    Partnership With Leading 3D Content Development Platform for Virtual Reality to Expand Cemtrex’s VR PortfolioBrooklyn, NY, Dec. 01, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today announced a strategic investment into MasterpieceVR, the developer of a professional desktop and VR application suite that offers  3D content creation tools, primarily for virtual reality. Due to the competitive nature of the transaction, financial terms were not disclosed by both parties.   MasterpieceVR, based in Ottawa, Canada, is a technology company that is developing the most intuitive and powerful software for content creation using virtual reality. Currently, creative professionals worldwide are challenged in creating even basic 3D visual content because existing software is too complex and slow to use, creating a significant unmet market. Thanks to advances in machine learning and virtual reality, MasterpieceVR’s software platform is the first end to end solution to enable any creative professional to make 3D content fast and easy. Masterpiece Studio has partnered with leading technology companies and its software is used by a host of the world’s major studios.“Tools to create production level 3D assets are essential for companies like Cemtrex creating apps, games, VR workplace training and content experiences in virtual reality,” said Saagar Govil, Chairman and CEO of Cemtrex. “MasterpieceVR is a leader in the space with a best in class team, and a truly revolutionary product that will become the most essential tool for all VR Developers over the next couple years. Their software is an important tool for Cemtrex’s Augmented & Virtual Reality growth segment and VR Gaming and Training product lines, allowing us to create content end-to-end 10 times faster and 100 times easier than with current tools. The software integrates seamlessly into existing professional pipelines and is the only 3D modeling tool using VR that can complete the entire production pipeline."“We believe this important investment will help support our efforts as a leading player in AR/VR and further develop our portion of the $22 billion AR/VR market. The ability to create 3D content quickly and more efficiently will be the name of the game as more companies enter the market and need to create 3D content for VR consumption. We will continue to pursue strategic investments and partnerships that align with our core growth objectives, support shareholder value and drive long-term success,” concluded Govil.Cemtrex completed the minority equity investment in Masterpiece Studio in November using existing cash on hand. MasterpieceVR will be launching a major update to their software suite in early 2021 and more information can be found at www.masterpiecevr.com.About MasterpieceVRMasterpiece Studio is our professional desktop application that offers a suite of 3D content creation products for virtual reality. Access tools that allow for rapid ideation, file sharing, real-time collaboration, and more. MasterpieceVR is a technology company that is developing the most intuitive and powerful software for content creation using virtual reality. MasterpieceVR’s software extends current professional workflows and opens up new ways for rapid ideation, creation, and collaboration in virtual space. For more information please visit www.masterpiecevr.com.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex’s Virtual Driver Interactive (VDI) Now Offering Driving EssentialsXE Teen Driver Training on PlayStation5 and Xbox Series X

    Teens Able to Learn How to Drive at Home Using Next Generation Consoles During PandemicBrooklyn, NY, Nov. 23, 2020 (GLOBE NEWSWIRE) -- — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today announced its subsidiary Virtual Driver Interactive (VDI) is now offering the Driving EssentialsXE program on the newly released Sony PS5 and Microsoft Xbox Series X platforms, in addition to their full line of simulation training products for schools and public safety organizations. A recent survey conducted by the Governor’s Highway Safety Association showed that 62% of parents said their child had experienced a COVID-19 related disruption in driver education. With Microsoft and Sony officially launching their latest next-generation consoles this month, it is the ideal time for the Driving EssentialsXE program to help parents bridge the gap in formal training created by the pandemic. The Driving EssentialsXE program provides the millions of PlayStation and Xbox users with the ability to experience challenging and real-world driving experiences all from the safety of their own home. The in-home use version of VDI’s product portfolio is an immersive driver training program that teaches the critical skills essential to safe driving in an entertaining and engaging way. With 10 in-depth lessons and unlimited free driving, it offers many advanced concepts that are not covered in online or driving school courses including driving in highway, city, residential, rural and off road in adjustable weather conditions. Inclement weather, distracted driving consequences and complex traffic scenarios are normally too dangerous to practice in real life but are covered in Driving EssentialsXE. For $29, the program is available at both the Sony and Microsoft stores. “With today’s COVID-19 world, there is even less opportunity for teens to get the driver training they require prior to getting behind the wheel,” said Bob Davis, VDI General Manager.  “Driving EssentialsXE offers teens a tool to gain real-world experience in the safety of their home. By combining technology with training, we let them face challenging traffic scenarios and master basic driving skills which give them and their parents the confidence they need to get behind the wheel,” concluded Davis.“VDI is a market leader with best-in-class driver training products and this new offering demonstrates their nimbleness to bring a desperately needed driving solution for today’s teenage parent searching for in-person driving alternatives,” said Saagar Govil, Chairman and CEO of Cemtrex. “VDI has built a successful business with innovative technologies, an effective product portfolio and extensive customer base. Those customers include the U.S. Postal Service, numerous universities and school districts along with some of the nation’s largest fleets in transportation, utilities, networking, insurance and public safety sector,” concluded Govil.About Virtual Driver Interactive Virtual Driver Interactive (VDI) is well known in the simulation industry for its vision of innovative simulation-based training.  Other titles include One Simple Decision®, a deterrent to distracted or impaired driving and Virtual DE™ (Virtual Driving Essentials), a driver training and assessment program teaching critical skills. VDI is a wholly owned subsidiary of Cemtrex Inc., and located in El Dorado Hills, California. For more information about Driving EssentialsXE, please visit www.drivingxe.com.  For more information about VDI’s innovative interactive simulation driver training solutions, please visit www.driverinteractive.com.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Completes Acquisition of Training Simulation Technology Company, Virtual Driver Interactive

    Acquisition to Enhance Company’s Augmented & Virtual Reality Growth Segment & VR Training Product LineBrooklyn, NY, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has signed a definitive agreement to acquire Virtual Driver Interactive (“VDI”), a California based provider of innovative driver training simulation solutions. 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.VDI has over 2,000 installations across all 50 states. Their core market includes school districts, large fleets, organizations in state public safety, non-profits and insurance companies across the US. Current customers include the U.S. Postal Service, ConEd, Minnesota Dept. of Transportation, AAA, Mayo Clinic, Kaiser Permanente, Nationwide and Allstate.VDI's product portfolio also includes Driving Essentials XE, an at home teen driver program using the Xbox and Playstation platforms that provides teens with a tool to gain real-world experience in the safety of their own home. “VDI is a market leader with best-in-class driver training products, with over $2 million in annual revenue,” said Saagar Govil, Chairman and CEO of Cemtrex. “VDI has built a successful business with innovative technologies, an effective product portfolio and extensive customer base. Those customers include the U.S. Postal Service, numerous universities and school districts along with some of the nation’s largest fleets in transportation, utilities, networking, insurance and public safety sector.“We will expand and accelerate those achievements by transitioning their technology to next generation solutions including VR, enhancing the training solutions and broadening the product portfolio into other simulation and recreational areas. By integrating our technology and resources, and building on the momentum VDI has established, we can reach our long-term goal of creating immersive training solutions in multiple vertical markets.  We are looking forward to working with VDI’s highly skilled team to add to our dynamic AR/VR division,” concluded Govil.Cemtrex completed the acquisition on October 23rd, 2020 using existing cash on hand. The transaction is expected to be accretive beginning in Q1 FY2021 to both non-GAAP earnings per share and cash flow.About Virtual Driver InteractiveVirtual Driver Interactive (VDI) is well known in the simulation industry for its vision of innovative simulation-based training.  Training programs include Driving EssentialsXE, console-based teen driver training program using Xbox & PS4; One Simple Decision®, a deterrent to distracted or impaired driving;  Virtual DE™ (VirtualDriving Essentials), a driver training and assessment program teaching critical skills and Virtual HD™(Virtual Hazard Detection), for corporate fleet safety programs.  For more information about VDI’s innovative interactive simulation driver training solutions, please visit www.driverinteractive.com.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.   CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Receives $0.5 Million Upgrade Order in Advanced Technologies Segment

    Corrections Facility in Tennessee to Upgrade Security Surveillance System Including Over 1,000 CamerasBrooklyn, NY, Oct. 08, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has received a $500,000 order to upgrade a security technology system through its Advanced Technology Segment for a large Tennessee based corrections facility. The mission-critical enterprise-class system is an upgrade from Cemtrex’s legacy system to its latest offering, which includes a state-of-the-art video surveillance security system, Valerus software solution, cameras and related storage hardware.“This order reaffirms the positive outlook for our core Security Technology vertical as the market continues to improve,” said Saagar Govil, Chairman and CEO of Cemtrex. “Our strong presence in corrections has provided multiple orders for several security surveillance systems, driving revenue increases this year. We are leveraging these gains to further develop advances in our product lines in IoT, AR & VR, as well as in Artificial Intelligence and Machine Vision.“The orders received during the September quarter in our Advanced Technologies Segment were higher on a year over year basis from 2019. This gives us confidence that our end markets are recovering well from COVID-19 and that the Advanced Technologies segment should see top line growth in FY 2021 based on our momentum,” continued Mr. Govil.The new order was booked in September 2020 and will be shipped in October. The details of the customer were not provided due to confidentiality agreements in place.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Announces CFO Transition

    Priscilla Popov to be Appointed CFO, Aron Govil to RetireBrooklyn, NY, Oct. 01, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today announced that Priscilla Popov has been appointed by Cemtrex’s Board of Directors to serve as the Company’s Chief Financial Officer, effective September 30, 2020. Mrs. Popov will succeed Aron Govil, who will remain as a consultant to the company until fiscal year-end 2021. “We are extremely excited to have Priscilla move into the CFO role and are confident in her ability to support Cemtrex as we enter the next phase of our growth cycle,” said Saagar Govil, Chairman and CEO of Cemtrex. “We are also grateful to Aron for his nearly two decades of contributions to Cemtrex as the early founder and his tenure as CFO. Aron has played a key role in the growth of our Company and due to life changes and health reasons, he is going to pass the baton to Priscilla. Aron remains one of our largest individual shareholders and we appreciate his continued support as a consultant to the company while Priscilla transitions into the role, and we wish him the very best in the future.”Mrs. Popov said: “It is a great privilege for me to accept the CFO role. I look forward to continuing to work closely with the rest of our excellent management team, the Board and our dedicated employees. The capital discipline that has been a constant in Cemtrex’s strategy, including the prudent management of our balance sheet and delivering on our commitment to stockholders, will remain a priority while we proactively execute on our product rollout during the uncertainties that we face in the current environment. Despite this, the sales momentum with our Vicon security technology brand continues and we are on the cusp of launching our next generation SmartDesk – a disruptive entrant into the personal workspace segment,” concluded Popov.Mrs. Popov has over 20 years of extensive knowledge in Accounting, Finance, Administration, and Operations. During her career, she held numerous executive-level positions with increasing responsibilities and has directed highly skilled financial management teams to support and achieve overall corporate goals and objectives. She has proven track record in financial management, evaluating financial management systems and implementing process improvements, and driving efficiency. Mrs. Popov joined the Company in 2020 and prior to joining Cemtrex, she held senior accounting positions at Videri, Bulgari, and Sotheby’s. Mrs. Popov holds a B.S. in Accounting from Brooklyn College and an MBA in Administration, Finance from New York Institute of Technology.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex to Host Virtual Roadshow Webinar on Tuesday, October 6, 2020 at 1:00 p.m. Eastern Time

    Brooklyn, NY, Sept. 23, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, will host a virtual roadshow webinar on Tuesday, October 6, 2020 at 1:00 p.m. Eastern time. Cemtrex Chairman and CEO Saagar Govil will be presenting an overview of the market opportunity and the company’s strategy to accelerate its revenue growth.  The webinar will be accompanied by a presentation and followed by a question and answer session, which can be accessed via the webcast link or dial-in numbers below.To access the webinar, please use the following information:Date:                                    Tuesday, October 6, 2020Time:                                    1:00 p.m. Eastern time (10:00 a.m. Pacific time)Dial-in:                                 1-877-705-6003International Dial-in:          1-201-493-6725Conference Code:                13710557Webcast:                             http://public.viavid.com/index.php?id=141559A telephone replay will be available approximately two hours after the call and will run through October 20th, 2020 by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13710557. The replay can also be viewed through the webinar webcast link above and the presentation utilized during the call will be available in the company’s investor relations section here. About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex Awarded Contract for Thermal Body Temperature Measurement Camera From Major School District in Pacific Northwest

    $500,000 Order Represents First of its Kind to Assist in the Detection & Mitigation of COVID-19 RiskBrooklyn, NY, Sept. 10, 2020 (GLOBE NEWSWIRE) -- — Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, today announced that its subsidiary Vicon has been awarded an approximately $500,000 contract from a major Pacific Northwest school district for its V1100 series Thermal Body Temperature Measurement Camera. Vicon is a designer and manufacturer of video surveillance software, access control software and hardware and cameras. Vicon’s Thermal Body Temperature Measurement Camera is designed to detect elevated skin temperature to accurately screen access points in buildings and public areas. The thermal camera provides contactless body temperature detection for individuals or multiple people with an accuracy of ±0.54° F.The dual-spectrum cameras will be installed in several of the districts’ schools to alert operators to critical events, such as a high temperature detection or individuals without a mask, and provide a snapshot so operators can quickly and easily identify the individual for further screening and verification. The details of the customer were not provided due to confidentiality agreements in place. The Company expects to fulfill this order in the current quarter.“As businesses, schools and offices begin to reopen after the COVID-19 crisis, it’s critical to safeguard employees, students and businesses,” said Saagar Govil, Chairman and CEO of Cemtrex. “We are privileged to be partnering with a technology-forward school district and awarded this first of its kind contract for our thermal cameras in the fight against the coronavirus pandemic. The cameras will help the schools identify at-risk individuals before they interact with students, teachers and staff. We believe this use of our technology will be a crucial factor in the ongoing detection and mitigation efforts for the coronavirus and future epidemics, and be a strong growth driver to our core business.”Vicon’s Thermal Body Temperature Measurement Camera is designed for a wide range of applications including offices and multi-tenant buildings, schools and universities, hospitals and extended care facilities, airports and transportation depots, correctional facilities and retail establishments. To learn more about the Thermal Sensor model series cameras visit www.vicon-security.com/lp/thermal-body-cam or view a video demonstration of the camera on YouTube.About Vicon Industries, Inc.Vicon…Simple Solutions for a Complex WorldSince 1967, Vicon has been a leading provider of mission-critical security surveillance systems. Today we are focused on providing solutions that have been engineered not just for performance and features, but for simplicity in deployment, operation and maintenance. Our goal is to serve as a valued security technology partner to our customers by reducing security solution complexity, ensuring a superior experience and future proofing our solutions. Vicon and its leading-edge systems are trusted by a customer base that spans the globe, representing every type of industry. www.vicon-security.comAbout CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • LD Micro: 360 Companies--Set to Present this Week.

    LOS ANGELES, CA / ACCESSWIRE / August 31, 2020 / LD Micro today announced the final list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

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  • Cemtrex Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communication Program

    Brooklyn, NY, Sept. 01, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets. MZ Group will work closely with Cemtrex management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how Cemtrex is delivering cutting-edge experience-focused technology for both consumers and the world’s largest businesses. Cemtrex recently reported fiscal nine month revenues of $32.7 million, up 16% year over year, introduced several new products under its Vicon security technology brand, including a thermal camera for assisting in the detection of COVID-19 symptoms and in the fall of 2020 the company is introducing its next generation SmartDesk – a disruptive entrant into the personal workspace segment.MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. The firm maintains offices worldwide and was recently ranked No. 7 in the world in business communication.Chris Tyson, Executive Vice President at MZ North America, will advise Cemtrex in all facets of corporate and financial communications, including the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.Ted Haberfield, Chairman & President of MZ Group North America, commented: “Over the past several years Cemtrex has leveraged its core Internet of Things (IoT) and Security Technology verticals to grow into additional high tech areas including Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence and Machine Vision. These leading technologies are set to thrive as we see increasingly aggressive adoption of Cemtrex’s products aimed at both consumers, businesses and government. The company is well-positioned to grow the value of its technology as it continues to develop new products that are meeting the next generation demands of customers. We find the valuation disconnect at Cemtrex to be an exciting opportunity for investors and look forward to sharing this with our network of institutional investors and family offices.”Chris Tyson added: “Cemtrex is delivering its cutting-edge products like its SmartDesk to a base of customers that includes work from home consumers to Fortune 500 companies. A new SmartDesk slated for release later this year that will be the ideal solution for many workers at their home office as we see substantial growth in this market given the new COVID-19 environment that has forever changed business workflows from physical to virtual. Its Security Technology division has installed state of the art cameras and video management systems with Federal, Local and State governments, companies, healthcare institutions, K-12 schools and universities, and corrections facilities. Cemtrex’s R&D is now focusing on developing comprehensive enterprise artificial intelligence-based machine vision technology for security applications set to launch next year. The company is delivering experience-focused technology to a diverse and growing portfolio of customers. We look forward to working with management to communicate the immense value proposition Cemtrex encompasses based on its strong revenue and gross margin profiles combined with positive EBITDA operations on the horizon,” concluded Tyson.“This is an important time for Cemtrex, as we are highly focused on executing our development roadmap consisting of exciting high tech products in IoT, AR & VR, as well as in Artificial Intelligence and Machine Vision over the coming 12 months,” said  Saagar Govil, Chairman and CEO of Cemtrex. “We are enabling this development with strong performance in our core businesses, including multiple orders for several security surveillance systems for government and commercial buildings including correctional facilities. These placements helped drive a 40% increase in revenue year over year for our first half of 2020. We look forward to working with Chris and the entire team at MZ Group to communicate the benefits of our incredible technology to the broader investment community, building long-term value for our shareholders,” concluded Govil.For more information on Cemtrex, please visit the Company’s investor relations website at www.cemtrex.com. To schedule a conference call with management, please email your request to CETX@mzgroup.us or call Chris Tyson at 949-491-8235.About MZ GroupMZ North America is the US division of MZ Group, a global leader in investor relations and corporate communications. MZ North America was founded in 1996 and provides full scale Investor Relations to both private and public companies across all industries. Supported by our exclusive one‐stop‐shop approach, MZ works with top management to support the clients' business strategy in six integrated product and service categories: 1) IR Consulting & Outreach – full service investor relations and roadshow services; 2) ESG Consulting – reporting technology platform and audit and reporting guidance; 3) SPAC Advisory – providing critical and timely guidance through business combination; 4) Financial & Social Media – lead generation and social media relations; 5) Market Intelligence – real time ownership monitoring; 6) Technology Solutions – webhosting, webcasting, distribution services, conference calls, CRM, and board portals. MZ North America has a global footprint with offices located in New York, Chicago, San Diego, Aliso Viejo, Austin, Minneapolis, Taipei and São Paulo.About CemtrexCemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us General Inquiries sales@cemtrex.com

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  • Vicon Releases Upgraded Thermal Sensor Models for Groundbreaking 360-Degree Surveillance

    Innovative Thermal Sensor Series Comprises a 360-Degree Surveillance Solution That Combines Powerful High-End Thermal Technology With High-Resolution PTZs for Unparalleled Perimeter Protection Vicon Thermal Sensor Series Innovative Thermal Sensor Series Comprises a 360-Degree Surveillance Solution That Combines Powerful High-End Thermal Technology With High-Resolution PTZs for Unparalleled Perimeter ProtectionHauppauge, NY, Aug. 31, 2020 (GLOBE NEWSWIRE) --  — Vicon (www.vicon-security.com), a designer and manufacturer of video surveillance, access control software and hardware and cameras, and a subsidiary of Cemtrex Inc. (Nasdaq: CETX) - a leading technology company, has released its highly advanced updated Thermal Sensor models. The innovative thermal sensor series is a 360-degree surveillance solution that combines powerful high-end thermal technology with high-resolution PTZs (pan/tilt/zoom) for unparalleled perimeter protection in wide-open spaces like power stations, airports, corrections facilities, construction sites, and other secure facilities. The VTR-3000 series is a cutting-edge, cost-effective model designed for small to medium sized facilities with a range of up to 250 meters. This series ideal for private airports and manufacturing plants, ensuring nothing goes unnoticed. The VTR-6000 series covers vast areas up to 500 meters and is ideal for larger applications such as construction sites, large commercial airports and more.Both series can be used day or night and are rich with upgraded features such as enhanced analytics for fire detection and equipment temperature monitoring. Just one thermal sensor can replace up to 8 traditional cameras, and with the newly built-in TRIA, provides many cost-effective options to its users. This series also features exceptional improvements made to image clarity and detection, reducing false positives so time and energy is well spent. Lastly, an improved exterior design reduces the amount of moving parts, reducing the potential for replacing parts.“These new upgraded Thermal Sensor models are a highly anticipated addition to our camera portfolio as many of our critical infrastructure clients like airports and correctional facilities are looking for cost-effective and comprehensive solutions to enhance their perimeter surveillance systems. This solution allows facilities to monitor more area with fewer cameras in a more comprehensive and economical way than ever before. The VTR series is a key differentiating product that allows us to deliver unique, innovative, end-to-end solutions to our clients,” said Saagar Govil, Chairman and CEO of Cemtrex.The Thermal Sensor Series is now available for purchase by contacting sales@vicon-security.com. For more information about the Thermal Sensor or other Vicon products please visit www.vicon-security.com.About Vicon Industries, Inc.:Vicon…Simple Solutions for a Complex World Since 1967, Vicon has been a leading provider of mission-critical security surveillance systems. Today we are focused on providing solutions that have been engineered not just for performance and features, but for simplicity in deployment, operation and maintenance. Our goal is to serve as a valued security technology partner to our customers by reducing security solution complexity, ensuring a superior experience and future proofing our solutions. Vicon and its leading-edge systems are trusted by a customer base that spans the globe, representing every type of industry. Learn more about the Thermal Sensor model series on our website here. These cameras are in stock and ready to ship.About Cemtrex Cemtrex, Inc. (CETX) is a leading technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities.  These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements.  Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission.  All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.Attachment * Vicon Thermal Sensor Series CONTACT: For further information, please contact: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us General Inquiries sales@vicon-security.com sales@cemtrex.com

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  • Cemtrex to Present at LD 500 Virtual Investor Conference

    Brooklyn, NY, Aug. 25, 2020 (GLOBE NEWSWIRE) --  — Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a technology innovation company for Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has been invited to present at the LD 500 Virtual Investor Conference on September 1-4, 2020. Cemtrex Chairman & Chief Executive Officer Saagar Govil is scheduled to host a virtual presentation during the conference and will also participate in one-on-one meetings throughout the day.Management will highlight the company’s recently reported fiscal nine month revenues of $32.7 million, up 16% year over year, its several new products under its Vicon security technology brand, including a thermal camera for assisting in the detection of COVID-19 symptoms and its upcoming IoT launch of SmartDesk – a disruptive entrant into the personal workspace segment.To access the presentations, please use the following information:LD 500 Virtual Investor Conference Date: Tuesday, September 1, 2020           Presentation Time: 2:00 p.m. Eastern time (11:00 a.m. Pacific time) – Track 3       Webcast: https://www.webcaster4.com/Webcast/Page/2019/36239 Location: VirtualFor more information on either conference or to schedule a one-on-one meeting with Cemtrex management, please contact your conference representative or you may also email your request to CETX@mzgroup.us or call Chris Tyson at (949) 491-8235.About CemtrexCemtrex, Inc. (NASDAQ: CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. For more information, please visit www.cemtrex.com. CONTACT: Investor Relations Chris Tyson Executive Vice President – MZ North America Direct: 949-491-8235 CETX@mzgroup.us www.mzgroup.us

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  • Cemtrex, Inc. (CETX) Announces Results for the Third Quarter Ending June 30, 2020

    9 Month Revenues Increase by 16% YoYBrooklyn, NY, Aug. 13, 2020 (GLOBE NEWSWIRE) --  – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading technology company that is driving innovation in a wide range of commercial sectors such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV), announced its financial results for the quarter ending June 30, 2020. Fiscal Third Quarter Highlights:Nine Months Revenue: $32,774,797 Nine Months EBITDA: ($1,167,965) Nine Months EBITDA Margin: (3.56%) Nine Months Gross Margin: 43% Third Quarter Sales: $8,440,867 Cash on Hand: $12,939,493 Total Assets: $62,826,021 Total Stockholder’s Equity: $32,509,875Results of Operations:  For the Nine Months Ending   Jun 30 of Each Year    2020   2019  Total Revenues $32,774,797  $28,371,927  Total Operating (loss)/income  (3,326,903)   (4,450,293)  Depreciation and amortization  2,158,938   3,208,933  EBITDA (Non-GAAP)  (1,167,965)   (1,241,360)  EBITDA Margin %  (3.56%)   (4.38%)  Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results, “Our Company continued to perform well during the global pandemic with only a modest decrease in revenue for the period while the entire world remained largely closed. Our Company remained fully operational, largely remotely, during the shutdown but many customers were closed and postponed purchasing during this June Quarter. For the nine-month period our year over year revenues are up 16% and we believe that as the global shutdowns wind down we will be able to see continued top line growth. Our Advanced Technology bookings for July were better on a YoY basis which gives us confidence in our overall outlook. Many of our customers who were shut down for the last several months are now resuming their operations and looking to pick up where they left off.”“During the most recent quarter the Company continued its progress on its exciting product roadmap. We released several new products under our security technology brand, Vicon, including a Thermal Camera for assisting in the detection of COVID-19 symptoms, as well as a new line of cameras with on board AI based analytics technology. We remain on track for the release of our new SmartDesk later this year which we believe has strong potential due to the enormous need for a solution like ours in the home office segment.”“The Company also received a major cash infusion of over $10 million from institutional investors during the period which has bolstered the balance sheet and fueled the Company for positive growth over the coming months. It has also provided the Company with cash to pursue strategic acquisition opportunities. With a strong cash position and many new product releases planned over the next few months we believe the next 18 months will be an exciting growth period for our Company. While uncertainties remain due to the COVID-19 pandemic we remain cautiously optimistic looking forward,” continued Mr. Govil.For the Nine Months Ending June 30, 2020: * Revenues: Total revenue for the nine months ended June 3, 2020 and 2019 was $32,774,797 and $28,371,927, respectively, an increase of $4,402,870, or 16%. Total revenue for the three quarters increased, as compared to total revenue in the same period last year, due to sales increases in the Advanced Technologies Segment.   * Gross Profit: Gross Profit for the nine months ended June 30, 2020 was $13,974,442 or 43% of revenues as compared to gross profit of $11,052,395 or 39% of revenues for the nine months ended June 30, 2019.  Gross profit increased in the nine months ended June 30, 2020, compared to the nine months ended June 30, 2019 due to a shift by management in the last fiscal year to focus on products with higher gross margins.     * Comprehensive Loss: The Company had a comprehensive loss of $8,623,905 or 26% of revenues, for the nine-month period ended June 30, 2020 as compared to a comprehensive loss of $9,249,975 or 33% of revenues, for the nine months ended June 30, 2019.  Comprehensive loss decreased in the first three quarters as compared to comprehensive loss in the same period last year, as a result of the increased sales and foreign currency translation gain.Fiscal Third Quarter Results: * Revenues: Total revenue for the three months ended June 30, 2020 and 2019 was $8,440,867 and $10,928,933, respectively, a decrease of $2,488,066, or 23%.  Total revenue for the quarter decreased, as compared to total revenue in the same period last year, due to shutdowns and limited operations of businesses due to the COVID-19 crisis.     * Gross Profit: Gross Profit for the three months ended June 30, 2020 was $3,279,852 or 39% of revenues as compared to gross profit of $4,058,013 or 38% of revenues for the three months ended June 30, 2019.  Gross profit decreased in the three months ended June 30, 2020, compared to the three months ended June 30, 2019 due to lower sales, however the percentage increase is due to a shift by management in the last fiscal year to focus on products with higher gross margins.   * G & A: General and administrative expenses for the three months ended June 30, 2020 increased $1,549,578 or 38% to $5,606,659 from $4,057,081 for the three months ended June 30, 2019. General and administrative expenses as a percentage of revenue was 66% and 37% of revenues for the three-month periods ended June 30, 2020 and 2019.  The increase in General and Administrative Expenses both as a percentage of revenue is the reduction in sales from the same quarter last year and on a dollar per dollar basis is the result of increased salaries expense.    * R & D: Research and Development expenses for the three months ended June 30, 2020 was $331,936 compared to $285,583 for the three months ended June 30, 2019.  Research and Development expenses are primarily related to the Advanced Technologies Segment’s development of proprietary technology and further developments of the SmartDesk and Artificial Intelligence (AI) connected with security and surveillance systems software.   * Comprehensive Income / Loss: The Company had a comprehensive loss of $4,149,335 or 49% of revenues, for the three-month period ended June 30, 2020 as compared to a comprehensive loss of $3,103,266 or 28% of revenues, for the three months ended June 30, 2019.  Comprehensive loss increased in the third quarter as compared to comprehensive loss in the same period last year, as a result of the reduction in sales due to the COVID-19 crisis.About CemtrexCemtrex, Inc. (CETX) is a technology company specializing in the development of Internet of Things (IoT), artificial Intelligence (AI) and Virtual Reality (VR) enabled technologies that's driving innovation in a wide range of sectors, including  consumer products, industrial manufacturing,  digital applications, and intelligent security & surveillance systems. www.cemtrex.comSafe Harbor Statement This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. These risks and uncertainties include, but are not limited to: operational losses and negative cash flows; any need for additional financing; market acceptance of our products; our ability to manufacture and develop effective products and solutions; indebtedness to our lenders; current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to maintain adequate levels of working capital; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our product offerings or to develop other new products and services; our ability to generate sales and profits from current product offerings; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.Use of Non-GAAP Measures: Earnings before interest, taxes, and depreciation and amortization (EBITDA) and Adjusted EBITDA are non-GAAP measures. In defining Non-GAAP EBITDA, the Company excludes the impact of non-cash stock-based compensation and other non-recurring items, such as R&D expenses and equity interest loss. EBITDA has limitations as an analytical tool and should not be evaluated in isolation or as a substitute for analysis of results as reported under U.S. GAAP. Management utilizes this metric as a basis for evaluating our ongoing operations, and believes investors' understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for evaluating our ongoing results of operations, without the effects of interest, taxes, depreciation, and amortization and other non-recurring expenses. CONTACT: For further information, please contact: Investor Relations Cemtrex, Inc. Phone: 631-756-9116 investors@cemtrex.com

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  • LD Micro - Announces Preliminary List of Presenters for the LD-500

    LOS ANGELES, CA / ACCESSWIRE / August 5, 2020 / LD Micro today announced the initial list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

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  • Cemtrex Inc. (CETX) Receives $1M Order for Security Technology System

    Brooklyn, NY, July 13, 2020 --  – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in a wide range of.

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  • Cemtrex Inc. (CETX) Provides Business Update

    Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in a wide range of commercial sectors such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV), today provided an update on its business regarding the current environment and near term outlook. During this difficult time, we’ve successfully adapted our ways of working to responsibly manage the business, while continuing to deliver innovative solutions to our customers.

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  • Cemtrex Inc. Regains Nasdaq Listing Compliance

    Brooklyn, NY, June 17, 2020 -- Brooklyn, NY, June 17, 2020– Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in.

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  • Cemtrex, Inc. Closes $5.4 Million Registered Direct Offering Priced At-The-Market

    Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in a wide range of commercial sectors such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV), today announced it has closed its registered direct offering with multiple institutional investors for the purchase and sale of 2,402,923 shares of its common stock at a purchase price of $2.24 per share in a registered direct offering priced at-the-market under Nasdaq rules for gross proceeds of $5.4 million before deducting placement agent fees and expenses. After paying Offering fees and expenses, the Company received net proceeds of approximately $5 million from the Offering.

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