CAPITAL STOCK |
12 Months Ended |
|---|---|
Sep. 30, 2024 | |
| Stockholders' Equity Note [Abstract] | |
| Equity [Text Block] | 4. CAPITAL STOCK
As of September 30, 2024, the Company’s authorized stock consisted of 2,000,000,000 shares of common stock, with no par value.
The Company is also authorized to issue 50,000,000 shares of preferred stock with a par value of $0.01 per share. The rights, preferences and privileges of the holders of the preferred stock are determined by the Board of Directors prior to issuance of such shares. Preferred Stock
As of September 30, 2024, the Company had 600 shares of issued and outstanding Series B Preferred held by Irvin Consulting LLC, a company owned by Dwain Irvin, the CEO of the Company.
Each share of outstanding Series B Preferred Stock entitles the holder to cast 40,000 votes. Each share of Series B Preferred Stock is convertible at the option of the holder into 10,000 common shares. In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Company, the holders of shares of Series B Preferred Stock shall be paid out based on an as converted basis. Dividends for Series B Preferred Stock shall be declared on an as converted basis.
Common Stock
During the year ended September 30, 2024, the Company issued 40,335,225 shares of common stock.
The Company issued 22,195,217 shares on the conversion of the April 11, 2023, Note, the April 24, 2023 Note, the June 20, 2023 Note, the August 16, 2023 Note, and the August 17, 2023 Note, representing principal of $79,250 plus interest of $4,472, principal of $29,710, principal of $21,380, and principal of $21,795, respectively. The debt was converted within the terms of the agreements (as discussed below in Note 4).
The Company issued 417,504 shares to various vendors for services provided for a value of $6,159 recorded at fair value of shares on the respective grant dates and including 398,750 shares issued to a related party for services provided amounting to $4,702 recorded at the fair value of shares on the respective grant dates.
The Company issued 2,500,000 shares as commitment fees in connection with the letter agreement issued on April 29, 2024. These shares were recorded at fair value as of the date of issuance.
The Company issued 14,795,455 shares to purchase 362,956 shares of Fendix Media Limited, a United Kingdom private limited company for an initial value of $221,932.
During the year ended September 30, 2023, the Company issued 3,074,702 shares of common stock. 1,908,025 shares were issued to various vendors for services provided, including 398,750 shares issued to a related party for services provided; 141,677 shares were issued on repayment of loan; 525,000 shares were issued in relation to stock subscriptions; and 500,000 shares were issued as commitment fees in connection with the letter agreement issued on February 9, 2023. |