SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Sep. 30, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
Net earnings (loss) per share dictates the calculation
of basic earnings (loss) per share and diluted earnings (loss) per share. Basic earnings (loss) per share are computed by dividing by
the weighted average number of common shares outstanding during the period.
| | |
For the Years Ended | |
| | |
September 30, | |
| | |
2024 | | |
2023 | |
| | |
| | |
| |
| Gain (Loss) to common shareholders (Numerator) | |
$ | (2,657,889 | ) | |
$ | (4,724,946 | ) |
| | |
| | | |
| | |
| Basic weighted average number of common shares outstanding (Denominator) | |
| 44,631,319 | | |
| 20,828,079 | |
| | |
| | | |
| | |
| Diluted weighted average number of common shares outstanding (Denominator) | |
| 44,631,319 | | |
| 20,828,079 | |
|
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
The Company had no assets that are required to be valued on a recurring basis as of September 30, 2024, and 2023.
The Company had liabilities that are required to be measured at fair value on a recurring basis as follows at September 30, 2024 and 2023:
| | |
Total | | |
(Level 1) | | |
(Level 2) | | |
(Level 3) | |
| | |
| | |
| | |
| | |
| |
| Assets: | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| | |
| | | |
| | | |
| | | |
| | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Derivative Liability at fair value as of September 30, 2023 | |
$ | 2,253,391 | | |
$ | - | | |
$ | - | | |
$ | 2,253,391 | |
| Derivative Liability warrants at fair value as of September 30, 2023 | |
$ | 728,991 | | |
$ | - | | |
$ | - | | |
$ | 728,991 | |
| Total Derivative Liability as of September 30, 2023 | |
$ | 2,982,382 | | |
$ | - | | |
$ | - | | |
$ | 2,982,382 | |
| Derivative Liability at fair value as of September 30, 2024 | |
$ | 3,141,263 | | |
$ | - | | |
$ | - | | |
$ | 3,141,263 | |
| Derivative Liability warrants at fair value as of September 30, 2024 | |
$ | 154,692 | | |
$ | - | | |
$ | - | | |
$ | 154,692 | |
| Total Derivative Liability as of September 30, 2024 | |
$ | 3,295,955 | | |
$ | - | | |
$ | - | | |
$ | 3,295,955 | |
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
The following is a reconciliation of the derivative
liability for which Level 3 inputs were used in determining the approximate fair value:
| |
|
Derivative
Liability
Promissory
Notes |
|
|
Derivative
Liability
Warrants |
|
|
Total
Derivative
Liability |
|
| Balance as of September 30, 2022 |
|
$ |
1,207,403 |
|
|
$ |
232,609 |
|
|
$ |
1,440,012 |
|
| Fiscal year 2023 initial derivative liabilities |
|
|
480,958 |
|
|
|
332,753 |
|
|
|
813,711 |
|
| Net Loss on change in fair value |
|
|
565,030 |
|
|
|
163,629 |
|
|
|
728,659 |
|
| Ending balance as of September 30, 2023 |
|
$ |
2,253,391 |
|
|
$ |
728,991 |
|
|
$ |
2,982,382 |
|
| Fiscal year 2024 initial derivative liabilities |
|
|
292,557 |
|
|
|
84,620 |
|
|
|
377,177 |
|
| Net (Gain) Loss on change in fair value |
|
|
925,189 |
|
|
|
(658,919 |
) |
|
|
266,270 |
|
| Extinguishment of derivatives |
|
|
(232,986 |
) |
|
|
- |
|
|
|
(232,986 |
) |
| Ending balance as of September 30, 2024 |
|
$ |
3,238,151 |
|
|
$ |
154,692 |
|
|
$ |
3,392,843 |
|
|