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SUBSEQUENT EVENTS | 12 Months Ended
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Sep. 30, 2022
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | 15. SUBSEQUENT EVENTS The Company evaluated subsequent events, for the purpose of adjustment or disclosure, up through the date the financial statements were issued. Subsequent to September 30, 2022, there were the following material transactions that require disclosure: On November 22, 2022, the Company leased additional lab facilities at 123 Boylston Ave, Suite C, Seattle, WA 98102. The Company leased 1,800 square feet and the current net monthly payment is $2,250. The lease expires November 22, 2023. On October 24, 2022, the Company issued stock option grants to employees for 80,000 shares at an exercise price of $1.59 per share. The stock option grant expires in five years. The stock option grant vests quarterly over four years after two quarters. On November 7, 2022, the Company issued 50,000 shares of common stock at an average price of $0.25 per share related to the exercise of warrants. On December 7, 2022, the Company approved the Amendments to the senior secured convertible redeemable notes with Ronald P. Erickson, extending the due dates to January 30, 2023. On December 7, 2022, the Company approved the Amendments to the senior secured convertible redeemable notes with Clayton Struve, extending the due dates to September 30, 2023. On December 7, 2022, the Company approved the Extension of Warrant Agreement with Clayton Struve, extending the exercise dates as follows:
Warrant No./Class | Issue Date | No. Warrant Shares | Exercise Price | Current Expiration Date as of 04-26-2022 | Amended Expiration Date as of 10-25-2022
Clayton A. Struve Warrant | 08-14-2017 | 1,440,000 | $0.25 | 08-13-2024 | 08-13-2025
Clayton A. Struve Warrant | 12-12-2017 | 1,200,000 | $0.25 | 12-11-2024 | 12-11-2025
Clayton A. Struve Warrant | 08-04-2016 | 1,785,715 | $0.25 | 08-04-2024 | 08-04-2025
Clayton A. Struve Warrant | 02-28-2018 | 1,344,000 | $0.25 | 02-28-2024 | 02-28-2025
On December 14, 2022, the Company issued a stock option grant to Ronald P. Erickson for 1,000,000 shares at an exercise price of $1.41 per share. The stock option grant expires in five years. The stock option grant vests quarterly over four years. On December 14, 2022, the Company issued a stock option grant to Phillip A. Bosua for 1,250,000 shares at an exercise price of $1.41 per share. The stock option grant expires in five years. The stock option grant vests quarterly over four years On December 14, 2022, the Company approved the extension of warrants with Ronald P. Erickson and/or entities with which he is affiliated for 1,894,666 shares from January 30, 2023 to January 30, 2024.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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