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COMMITMENTS AND CONTINGENCIES | 6 Months Ended
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Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | NOTE 13 — COMMITMENTS AND CONTINGENCIES The Company may, from time to time, be party to legal proceedings arising in the ordinary course of its business operations. As of the date of this report, there is one pending lawsuit against the Company and its CEO. Management does not believe that the outcome of this matter will reasonably be expected to have a material adverse effect on the Company’s financial condition or results of operations. There are no other proceedings in which any current director, officer, affiliate, registered stockholder, or beneficial stockholder of the Company is an adverse party or holds a material interest adverse to the interests of the Company. As of March 31, 2026, the Company did not have any lease agreements or material lease commitments. Accordingly, no right-of-use assets or lease liabilities have been recognized in the accompanying unaudited condensed consolidated financial statements. As mentioned in Note 1 above, in March 2026, AetherHub entered into the IP Option Agreement, pursuant to which AetherHub was granted an exclusive option to acquire certain intellectual property rights underlying Oort’s DataHub platform. The option may be exercised at AetherHub’s discretion within twelve months following its formation, subject to a determination of commercial success by AetherHub’s board of managers. No option premium or other consideration is payable by AetherHub unless the option is exercised. If exercised, the IP Option Agreement contemplates a future transaction that may include (i) the transfer of the underlying intellectual property to AetherHub, (ii) a strategic equity investment of not less than $5.0 million in Oort by AetherHub’s members and/or their affiliates, and (iii) an additional capital contribution of up to $5.0 million to AetherHub, together with related changes to AetherHub’s ownership structure. As of March 31, 2026, the option had not been exercised, no consideration had been paid, and no assets or liabilities related to the IP Option Agreement were recognized in the accompanying condensed consolidated financial statements.

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