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SHAREHOLDERS’ EQUITY
 3 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SHAREHOLDERS’ EQUITY

NOTE 16 – SHAREHOLDERS’ EQUITY

 

Preferred Stock

 

The Company is authorized to issue 10,000,000 shares of Preferred Stock, $0.001 par value. As of December 31, 2022, and September 30, 2022, there were 2,233,463 and 2,129,122 shares issued and 2,169,363 and 2,065,022 shares outstanding, respectively.

 

Series 1 Preferred Stock

 

During the three months ended December 31, 2022, 104,341 shares of Series 1 Preferred Stock were issued to pay dividends to holders of Series 1 Preferred Stock.

 

As of December 31, 2022, and September 30, 2022, there were 2,183,463 and 2,079,122 shares of Series 1 Preferred Stock issued and 2,119,363 and 2,015,022 shares of Series 1 Preferred Stock outstanding, respectively.

 

Series C Preferred Stock

 

As of December 31, 2022, and September 30, 2022, there were 50,000 shares of Series C Preferred Stock issued and outstanding.

 

Common Stock

 

On January 25, 2023, the Company completed a 35:1 reverse stock split on its common stock. All share and per share data have been retroactively adjusted for this reverse split.

 

The Company is authorized to issue 50,000,000 shares of common stock, $0.001 par value. As of December 31, 2022, there were 793,727 shares issued and outstanding and at September 30, 2022, there were 754,711 shares issued and outstanding.

 

During the three months ended December 31, 2022, 39,016 shares of the Company’s common stock have been issued to satisfy $31,331 of notes payable, $168,669 in accrued interest, and $32,145 of excess value of shares issued recorded as interest expense.