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Note 6 - Right-of-use Asset and Liabilities

12 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

6. Right-of-Use Asset and Liabilities

Related party ROU asset and liability

The Company leases a facility used for executive offices from a related company. The original lease expired in December 2022 and the Company executed a two-year term extension through December 31, 2024.

The components of lease cost were as follows:

		September 30, 2024				September 30, 2023
Right-of-use lease cost, included in general and administrative on the Statements of Operations		$	78,073			$	82,358

Lease terms and discount rates were as follows:

		September 30, 2024				September 30, 2023
Remaining lease term (months):			3				15
Estimated incremental borrowing rate:			9.2	%			9.2	%

The approximate future minimum lease payments under operating leases at September 30, 2024 were as follows:

Year Ending
September 30, 2025			20,019

Total lease payments			20,019
Less imputed interest			152

Present value of right-of-use lease liabilities			19,867
Present value included in current liabilities			19,867

Present value included in long-term liabilities		$	-

Cash flow information was as follows:

		Years Ended
		September 30, 2024				September 30, 2023
Cash paid for amounts included in the measurement of right-of-use lease liabilities, included in accounts payable and accrued liabilities on the Statements of Cash Flow.		$	77,954			$	79,222