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Subsequent Events
6 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

NOTE 8: Subsequent Events

 

On April 15, 2024, the Company issued the third Note to the Investor, in the principal amount of $1,000,000, pursuant to the Purchase Agreement. The Note has a purchase price of $960,000, representing a 4% original issue discount. The Note has a maturity date of February 15, 2025, and bears interest at 8% per annum on the outstanding principal balance. The terms of the third Note is the same as the first two Notes.

 

On April 22, 2024, the Company issued 259,350 Commitment Shares to the Investor pursuant to the Purchase Agreement. The potential dilutive effects of these instruments will be reflected in the computation of earnings per share in future periods.