v3.25.4
Common Stock, Stock Options, Restricted Stock Awards and Warrants (Tables)
12 Months Ended
Sep. 30, 2025
Common Stock, Stock Options, Restricted Stock Awards and Warrants [Abstrsct]  
Schedule of Fair Value of Stock Options Grants

The following assumptions were used in determining the fair value of stock option grants for the year ended September 30, 2025 and 2024:

 

   2025   2024 
Risk-free interest rate   4.08-4.18%   4.66%
Expected dividend yield   0.00%   0.00%
Expected term   5.50-6.50 years    6.50 years 
Expected volatility   85%   87%
Schedule of Stock Option Activity

A summary of option activity under the plan is presented below:

 

   Shares   Weighted-
Average
Exercise
Price
   Weighted-
Average
Remaining
Contractual
Term
   Aggregate
Intrinsic
Value
 
Outstanding at September 30, 2024   12,750,000   $2.15    8.78 years   $
—
 
Granted   5,750,000    1.07           
Forfeited   (400,000)   1.75           
Outstanding at September 30, 2025   18,100,000   $1.83    8.21 years   $5,386,000 
Exercisable at September 30, 2025   9,781,250   $2.02    7.94 years   $1,136,500 
Schedule of Warrants Outstanding The following table summarizes the warrants outstanding at September 30, 2025:
   Exercise
price
   Number   Expiration Dates
July 2025 Offering Investors  $1.32    6,818,182   July 17, 2030
July 2025 Offering Agent  $1.65    272,727   July 17, 2030
July 2025 Prior Offering Agent  $1.65    477,273   July 17, 2030
September 2025 Offering Investors  $1.84    5,142,858   March 10, 2031
September 2025 Offering Agent  $1.92    205,714   March 10, 2031
September 2025 Prior Offering Agent  $2.1875    360,000   March 10, 2031
         13,276,754    
Schedule of Common Stock Reserved for Future Issuances

A summary of common stock reserved for future issuances by the Company as of September 30, 2025 is as follows:

 

Stock plan options outstanding   18,100,000 
Restricted stock awards   11,600,000 
Stock plan shares available for future grants   300,000 
Warrants outstanding   13,276,754 
Total   43,276,754