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RELATED PARTY TRANSACTIONS
 9 Months Ended
Jun. 30, 2025
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

D. RELATED PARTY TRANSACTIONS

 

There were no related party transactions during the nine months ended June 30, 2025. During the nine months ended June 30, 2024, certain officers and directors purchased 1,933 shares of restricted common stock at an aggregate fair market value of approximately $80,620.

 

On May 4, 2024, the Company modified the terms of Series UU, X, Y, N, MM, NN and RR warrants by extending the expiration dates by twenty-four (24) months from their current expiration dates. The incremental cost of this extension was approximately $0.7 million, which was recorded as a deemed dividend in the financial statements for the three months ended June 30, 2024. The Series N, X, MM, NN, RR and UU warrants are held by Geert Kersten, Patricia Prichep (current Officers of the Company) and the de Clara Trust, of which the Company’s CEO, Geert Kersten, is a beneficiary.