RELATED PARTY TRANSACTIONS

12 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 14 – RELATED PARTY TRANSACTIONS  

Brian Haugli, our Chief Executive Officer and our stockholder in the Company, is also a principal shareholder of RealCISO Inc. (“RealCISO”). In September 2020, SideChannel assigned to RealCISO Inc. certain contracts and intellectual property. We are a reseller of the RealCISO software. We receive revenue from our customers for the use of RealCISO software and pays licensing fees to RealCISO for such use. For the years ended September 30, 2024, and 2023, SideChannel paid $30 thousand and $26 thousand to RealCISO for licenses, respectively.

We also received $122 thousand and $63 thousand from RealCISO for software development services that we provided Real CISO during fiscal years 2024 and 2023, respectively.

On October 13, 2023, the Association of the US Army (“AUSA”) signed an agreement for a cybersecurity risk assessment for approximately $24 thousand. On February 15, 2024, the President of AUSA, Retired U.S. Army General Robert Brown, joined our Board. On July 8, 2024, AUSA signed an agreement for recurring vCISO Services which will generate approximately $108 thousand of annual revenue for the Company.

No other related party transactions occurred during the years ending September 30, 2024, and September 30, 2023.