| Schedule of tax provision |
| Schedule of tax provision | |
| | | |
| | |
| | |
Fiscal 2025 | | |
Fiscal 2024 | |
| Current: | |
| | | |
| | |
| Federal | |
$ | – | | |
$ | – | |
| State | |
| 20,000 | | |
| 23,000 | |
| Foreign | |
| – | | |
| – | |
| | |
| | | |
| | |
| Deferred: | |
| | | |
| | |
| Federal | |
| (34,854,000 | ) | |
| (141,000 | ) |
| State | |
| (6,819,000 | ) | |
| (71,000 | ) |
| Foreign | |
| 337,000 | | |
| (16,000 | ) |
| Deferred income tax expense (benefit) | |
| (41,316,000 | ) | |
| (205,000 | ) |
| Change in valuation allowance | |
| 41,336,000 | | |
| 228,000 | |
| Income tax provision | |
$ | 20,000 | | |
$ | 23,000 | |
|
| Schedule of deferred tax assets and liabilities |
| Schedule of deferred tax
assets and liabilities | |
| | | |
| | |
| | |
September 30, | |
| | |
2025 | | |
2024 | |
| Deferred tax assets | |
| | | |
| | |
| Net operating losses | |
$ | 4,026,000 | | |
$ | 3,586,000 | |
| Share-based compensation | |
| 976,000 | | |
| 269,000 | |
| Reserves and other allowances | |
| 386,000 | | |
| 388,000 | |
| Lease liability | |
| 638,000 | | |
| 702,000 | |
| Accrued compensation | |
| 61,000 | | |
| 32,000 | |
| Intangible assets | |
| 117,000 | | |
| – | |
| Accrued related party interest | |
| – | | |
| 5,000 | |
| Unrealized gains/losses | |
| 40,092,000 | | |
| – | |
| Charitable contributions | |
| 1,000 | | |
| 1,000 | |
| Interest expense limitation | |
| 66,000 | | |
| 82,000 | |
| Total deferred tax assets | |
| 46,363,000 | | |
| 5,065,000 | |
| | |
| | | |
| | |
| Deferred tax liabilities | |
| | | |
| | |
| Depreciation | |
| (5,000 | ) | |
| (11,000 | ) |
| Prepaid expenses | |
| (137,000 | ) | |
| (41,000 | ) |
| Intangible assets | |
| – | | |
| (64,000 | ) |
| Operating lease right-of-use assets | |
| (578,000 | ) | |
| (642,000 | ) |
| Total deferred tax liabilities | |
| (720,000 | ) | |
| (758,000 | ) |
| Valuation allowance | |
| (45,643,000 | ) | |
| (4,307,000 | ) |
| Net deferred tax assets | |
$ | – | | |
$ | – | |
|