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Accrued Expenses and Other Liabilities
 12 Months Ended
Sep. 30, 2021
Accrued Expenses and Other Liabilities [Abstract]  
Accrued Expenses and Other Liabilities

NOTE 6 - Accrued Expenses and Other Liabilities

 

Accrued expenses consisted of the following at September 30:

 

   As of
September 30,		 
   2021   2020 
Accrued payroll  $376,236   $238,212 
Operating lease liability, short term   112,778    57,848 
Accrued issuance costs   
—
    50,400 
Royalty Fees   72,083    
—
 
Other   83,152    166,302 
Total  $644,249   $512,762 

 

The “other” category is primarily comprised of board fees.

 

Paycheck Protection Program

 

The CARES Act, signed into law in March 2020, established the Paycheck Protection Program (“PPP”). The PPP authorizes over $600 billion in forgivable loans to small businesses. Loan amounts may be forgiven to the extent proceeds are used to cover documented payroll, mortgage interest, rent, and utility costs over a 24-week measurement period following loan funding. Loans have a maturity of 2 years and an interest rate of 1%. Prepayments may be made without penalty. In April 2020, the Company received loan funding of $83,333 under the PPP and was recorded as a long-term liability. The PPP loan was forgiven on June 9, 2021 by the U.S. Small Business Administration and was reflected as other income in the accompanying statements of operations. Interest was nominal during the years ended September 30, 2021 and 2020.