XML 43 R26.htm IDEA: XBRL DOCUMENT v3.23.1
SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 19 – SUBSEQUENT EVENTS

 

On April 6, 2023, 109,553 shares of Series 1 Preferred Stock were issued to pay dividends to holders of Series 1 Preferred Stock. The holders of the Series 1 Preferred Stock are entitled to receive dividends at the rate of 10% annually, based on the $10.00 per share Preference Amount, payable semiannually.

 

On April 13, 2023, the Company issued an aggregate of 20,226 shares of common stock to settle $150,000 of notes payable and accrued interest, and $53,069 of excess value of shares issued to be recorded as interest expense.

 

On May 4, 2023, the Company issued an aggregate of 36,740 shares of common stock to settle $275,000 of notes payable and accrued interest, and $87,256 of excess value of shares issued to be recorded as interest expense.