STOCKHOLDERS’ EQUITY

12 Months Ended

Sep. 30, 2024

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 11 – STOCKHOLDERS’ EQUITY

Common Stock

As of September 30, 2024, and 2023, we had 225,975,331 and 213,854,781 shares of common stock outstanding, respectively, and were authorized to issue 681,000,000 shares of common stock at a par value of $0.001.

Common Stock Issued for Cash

We did not issue shares of common stock for cash during the years ended September 30, 2024, and September 30, 2023.

Common Stock Issued for Business Combinations

On May 4, 2023, we issued a total of 62,016,618 shares of common stock for the Second Tranche (59,900,000 shares) and Closing Working Capital Adjustment (2,116,618 shares).

No shares were issued for Business Combinations in fiscal year 2024.

Common Stock Issued for Services

Until March 31, 2024, our Board of Directors elected to have each of its members receive one-half of such member’s quarterly compensation in the form of shares of the Company’s common stock instead of cash. We also use stock as a form of compensation for independent contractors who provide professional services to us in sales, marketing, or administration. During fiscal year 2024, the fair market value of stock issued for services totaled $20 thousand for 437,643 shares of common stock compared to $66 thousand for 770,978 shares of common stock in fiscal year 2023.

Our Board of Directors elected to cease receiving quarterly compensation in the form of shares of the Company’s common stock after April 1, 2024.

Common Stock Issued Under Equity Incentive Plan

We issued 4,411,949 shares of common stock for 6,537,045 restricted stock units (“RSUs”) that vested during the year ended September 30, 2024. The number of RSUs sold by these employees to fund payroll taxes for the year September 30, 2024, was 2,125,096.

Common Stock Issued for Tender Offer

On August 22, 2023, the Company commenced a Tender Offer for the 69,281,020 Warrants subject to our Offer to Exchange. A new Tender Offer (“Offer to Exchange”) was filed on November 7, 2023.

We closed the November 7 Offer to Exchange on December 26, 2023, resulting in the issuance of 7,270,958 shares of common stock and 17,415,437 new warrants in exchange for 2021 Investor Warrants totaling 43,538,501.

Preferred Stock

As of September 30, 2024, and 2023, we had zero (0) shares of preferred stock outstanding.

Warrants

Warrant activity for years ended September 30, 2024, and 2023, is as follows:

Outstanding Warrants	Number of Warrants			Weighted Average Exercise Price			Weighted Average Remaining Life
(In thousands, except prices and remaining lives)
Outstanding at September 30, 2022		87,794		$	0.56			3.57
Granted		—			—			—
Exercised		—			—			—
Canceled/Forfeited		(18,513	)		1.20			—
Outstanding at September 30, 2023		69,281		$	0.39			3.31
Outstanding at September 30, 2023		69,281		$	0.39			3.31
Granted through November 2023 Warrant Exchange		17,415			0.18			4.25
Tendered during November 2023 Warrant Exchange		(43,538	)		(0.36	)		(2.25	)
Exercised		—			—			—
Canceled/Forfeited		—			—			—
Outstanding at September 30, 2024		43,158		$	0.33			3.89