Note 5 - Senior Unsecured Note Payable - Related Party	9 Months Ended
Jun. 30, 2021
Notes
Note 5 - Senior Unsecured Note Payable - Related Party	*NOTE 5 – SENIOR UNSECURED NOTE PAYABLE – RELATED PARTY:* On July 30, 2018, the Company entered into a loan agreement and promissory note with William Matlack, a significant shareholder and a director as of October 29, 2019, (the “Lender”). Under the loan agreement, the Lender loaned the Company $300,000 in the form of a senior unsecured note payable, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and has a maturity date of January 20, 2023. At June 30, 2021 and at September 30, 2020, the senior unsecured note payable was $300,000. The accrued interest on the senior unsecured note payable was $205,776 and $142,492 at June 30, 2021 and September 30, 2020, respectively. Interest expense related to the senior unsecured note payable to this related party was $22,424 and $47,075 for the three months ended June 30, 2021 and June 30, 2020, respectively, and $64,658 and $138,187 for the nine months ended June 30, 2021 and June 30, 2020, respectively. The $300,000 senior unsecured note payable is senior to any other debt obtained by the Company subsequent to June 30, 2021. The senior unsecured note payable requires that when the Company enters into any other financings, 25% of the proceeds of such financings will be paid toward reduction of the principal and interest accrued on the note. No payments have been made by the Company to the Lender; however, with the common stock private placement financing completed during June and July 2021, the 25% is payable to the holder, and the principal therefore is classified as a current liability at June 30, 2021. Management is working with the holder to pay $250,000 prior to the end of fiscal year 2021 to pay the interest payable on the note and a portion of the note principal and negotiate an amendment to the terms of the note. The Lender provided a waiver of default as of September 30, 2020 on the note that would otherwise have occurred due to such non-payment of the 25% of proceeds at the time of the financing in 2020.

Note 5 - Senior Unsecured Note Payable - Related Party

9 Months Ended

Jun. 30, 2021

Note 5 - Senior Unsecured Note Payable - Related Party

NOTE 5 – SENIOR UNSECURED NOTE PAYABLE – RELATED PARTY:

On July 30, 2018, the Company entered into a loan agreement and promissory note with William Matlack, a significant shareholder and a director as of October 29, 2019, (the “Lender”). Under the loan agreement, the Lender loaned the Company $300,000 in the form of a senior unsecured note payable, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and has a maturity date of January 20, 2023. At June 30, 2021 and at September 30, 2020, the senior unsecured note payable was $300,000.

The accrued interest on the senior unsecured note payable was $205,776 and $142,492 at June 30, 2021 and September 30, 2020, respectively. Interest expense related to the senior unsecured note payable to this related party was $22,424 and $47,075 for the three months ended June 30, 2021 and June 30, 2020, respectively, and $64,658 and $138,187 for the nine months ended June 30, 2021 and June 30, 2020, respectively.

The $300,000 senior unsecured note payable is senior to any other debt obtained by the Company subsequent to June 30, 2021. The senior unsecured note payable requires that when the Company enters into any other financings, 25% of the proceeds of such financings will be paid toward reduction of the principal and interest accrued on the note. No payments have been made by the Company to the Lender; however, with the common stock private placement financing completed during June and July 2021, the 25% is payable to the holder, and the principal therefore is classified as a current liability at June 30, 2021. Management is working with the holder to pay $250,000 prior to the end of fiscal year 2021 to pay the interest payable on the note and a portion of the note principal and negotiate an amendment to the terms of the note. The Lender provided a waiver of default as of September 30, 2020 on the note that would otherwise have occurred due to such non-payment of the 25% of proceeds at the time of the financing in 2020.