| Schedule of Notes Payable |
Notes
payable consists of the following at September 30, 2025 and 2024, respectively:
Schedule of Notes Payable
| | |
September
30,
2025 | | |
September
30,
2024 | |
| | |
| | |
| |
| On October 15, 2024, the Company
entered into a secured credit facility with a third party (the “2024 Secured Credit Facility”). Under the facility, the
Company is able to borrow up to $200,000 which will incur interest at a rate of 12%, and is payable upon the earlier of February
28, 2025, or the date which the Company receives the escrow amount from the sale of the assets of Digipath Labs. As of the date of
this filing, the Company has borrowed $89,600 against the facility. On February 10, 2025, the facility holder
agreed to extend the maturity date of the facility to July 31, 2025 in exchange for a deferred payment of $400. On August 18, 2025,
the facility holder agreed to extend the maturity date of the facility to July 31, 2027 in exchange for a deferred payment of $2,607. | |
$ | 89,600 | | |
$ | - | |
| | |
| | | |
| | |
| On January 25, 2025, the Company entered
into a 12% secured credit facility for up to $200,000 payable on the earlier of December 31, 2025 or the date the Company receives
sufficient funds from the Invictus Note describe in Note 5 above. During the year ended September 30, 2025, the lender paid for certain
services and equipment on behalf of the Company for an aggregate of $116,556. In addition, the lender advanced $23,000 of cash directly
to the Company. | |
| 139,556 | | |
| - | |
| | |
| | | |
| | |
| On September 15, 2025, the Company entered
into a promissory note with a principal balance of $113,850 which has maturity date of July 15, 2026. The note carries an original
issue discount of $14,850 and the lender retained $14,360 for legal and other fees for net proceeds to the Company of $84,640. In
addition, the note carries an upfront interest charge of 12%, or $11,385, which was added to the principal balance upon closing.
The aggregate discount of $40,595 is being amortized over the life of the loan. The note is to be repaid with an initial payment
of March 15, 2026 of $62,617 and equal monthly payments thereafter of $15,654 though July 15, 2026. In the event of default, the
note can be converted into shares of the Company’s common stock at a rate of 65% of the lowest trading price of the preceding
10 trading days. | |
| 125,235 | | |
| - | |
| | |
| | | |
| | |
| Total notes payable | |
| 354,391 | | |
| - | |
| Less: discounts on
notes payable | |
| (38,713 | ) | |
| | |
| Notes payable, net of discounts | |
| 315,678 | | |
| | |
| Less: current maturities | |
| (315,678 | ) | |
| - | |
| Notes payable | |
$ | - | | |
$ | - | |
|