Note 1 - Organization and Nature of Operations

12 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Basis of Accounting [Text Block]

(1) Organization and Nature of Operations

General

The Company’s business is based on the leasing of patented tracking and monitoring solutions to federal, state and local law enforcement agencies, both in the U.S. and abroad, for the electronic monitoring of offenders and offering unique data analytics services on a platform-as-a-service (“PaaS”) business model. Currently, we deploy offender-based management services that combine patented GPS tracking technologies, full-time 24/7/365 global monitoring capabilities, case management, and proprietary data analytics. We offer customizable tracking solutions that leverage real-time tracking data, best practices monitoring, and analytics capabilities to create complete, end-to-end tracking solutions.

Business Condition. As of September 30, 2025 and 2024, the Company had an accumulated deficit of $315,147,082 and $312,691,811, respectively. The Company incurred a net loss of $1,883,753 and $3,081,414 for the years ended September 30, 2025 and 2024, respectively. On April 27, 2023, the Company announced a three-year extension of its $42.9 million debt to July 1, 2027 (See Note 7). The Company’s ability to return to profitable operations is dependent upon generating a level of revenue adequate to support its cost structure. Management has evaluated the significance of these conditions, as well as the change in the maturity date, and has determined that the Company can meet its operating obligations for a reasonable period. The Company expects to fund operations using cash on hand and through operational cash flows through the upcoming twelve months.

Sale of Subsidiary

In the first quarter of Fiscal 2025, we completed the sale of our Chilean subsidiary and recognized a $66,483 loss recorded in Loss on sale of subsidiary in the Condensed Consolidated Statements of Operations and Comprehensive Income for the year ended September 30, 2025 (“Fiscal 2025”). This loss is in addition to a $757,130 impairment on assets held for sale in the fourth quarter of the year ended September 30, 2024 (“Fiscal 2024”).