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Subsequent Events
 6 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

NOTE 6: Subsequent Events

 

The Company has identified the following material subsequent events that occurred after December 31, 2024, and through the date of this report:

 

●Richtech Holdings LLC: We formed a new sub-company, Richtech Holdings LLC, for the purpose of purchasing a new office located at 2975 Lincoln Rd, Las Vegas, NV 89115. The purchase is expected to close by the end of May 2025.

 

●Newark, CA Office: We entered into an agreement to rent a new office in Newark, California on May 1, 2025. This office will be used to expand the Company’s research and development team in the Silicon Valley area.

 

●AlphaMax “Babaz” Store: A new AlphaMax store, operating under the brand name “Babaz,” is scheduled to open in Oceanside, California. The store is expected to be opened by the end of Summer 2025.

 

●China Joint Venture: We established a new joint venture in China, named Boyu Artificial Intelligence (Beijing) Technology Co., Ltd. with Detian Rongzi (Beijing) Technology Co. Ltd. on December 25, 2024. Richtech Robotics Inc. owns 51% of this joint venture, which will primarily focus on the Asian market for service robots.

 

●Warrant Issuance: In connection with the Warrant Inducement previously disclosed, and pursuant to the engagement letter with Rodman & Renshaw LLC, the Company issued to Rodman additional placement agent warrants to purchase an aggregate of 188,986 shares of Class B common stock at an exercise price of $5.00 per share. These placement agent warrants are immediately exercisable and valid for five years from issuance. As of April 15, 2025, all such additional placement agent warrants remain outstanding.