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SUBSEQUENT EVENTS
9 Months Ended
Jun. 30, 2025
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

I. SUBSEQUENT EVENTS

 

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the United States. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. ASC 740, Income Taxes, requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. Consequently, as of the date of enactment, we will evaluate all deferred tax balances under the newly enacted tax law and identify any other changes required to our financial statements as a result of the OBBBA. The Company is currently evaluating the impact of the OBBBA on the Company’s financial statements.

 

On July 14, 2025, the Company sold 1,500,000 shares of common stock at an offering price of $3.82 per share, priced at-the-market under NYSE American rules, for gross proceeds of approximately $5.7 million.

 

On July 25, 2025, the CEO and a director purchased 32,116 shares of restricted common stock at an aggregate fair market value of approximately $219,995.