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Going Concern Uncertainty and Management’s Plan | 12 Months Ended
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Sep. 30, 2025
Going Concern Uncertainty and Management’s Plan [Abstract] |
GOING CONCERN UNCERTAINTY AND MANAGEMENT’S PLAN | 2. GOING CONCERN UNCERTAINTY AND MANAGEMENT’S PLAN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We experienced negative cash flows from operations of $26,552,738 and $28,201,375, for the years ended September 30, 2025 and 2024, respectively. We had a negative working capital of approximately $17 million at September 30, 2025. We estimate that our available cash resources will be sufficient to fund its operations through March 2026 which raises substantial doubt about our ability to continue as a going concern within one year after the date that the accompanying consolidated financial statements are issued. We have generated no operating revenue to date and have principally raised capital through the issuance of debt and equity instruments to finance our operations. However, our continued operations beyond March 2026, including our development plans for Mino-Lok, Halo-Lido and NoveCite, will depend on our ability to obtain regulatory approval for Mino-Lok and generate substantial revenue from the sale of LYMPHIR and on our ability to raise additional capital through various potential sources, such as equity and/or debt financings, strategic relationships, or out-licensing of our product candidates. We can provide no assurances on regulatory approval, commercialization, or future sales of LYMPHIR or that financing or strategic relationships will be available on acceptable terms, or at all. If we are unable to raise sufficient capital, find strategic partners or generate substantial revenue from the sale of LYMPHIR, there would be a material adverse effect on our business. Further, we expect in the future to incur additional expenses as we continue to develop our product candidates, including seeking regulatory approval, and protecting our intellectual property. The accompanying financial statements do not include any adjustments that might result from the outcome of the above uncertainty.

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- Definition The entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-40/tableOfContent + Details
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