Note 6 - Stockholders' Equity

9 Months Ended

Jun. 30, 2021

Notes

Note 6 - Stockholders' Equity

NOTE 6 – STOCKHOLDERS’ EQUITY:

Common Shares - Private Placement

On June 25, 2021, the Company closed on total subscriptions for a private placement offering for 23,070,798 Units of the Company at a price of $0.20 per Unit. Each Unit consisted of one share of common stock of the Company and one-half common share purchase Series M Warrant (each whole such warrant a “Warrant”), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.30 per share until the Warrant expiration date of May 31, 2023. A total of 8,941,666 shares and 5,304,166 Warrants were paid for and issued during the quarter ended June 30, 2021, for net proceeds of $1,788,334 to the Company. Another $333,333 was received for shares subscribed but not yet issued as of the end of the quarter. Additionally, 102,000 broker Warrants were issued for finders fees. No cash was paid for finders fees during the quarter ended June 30, 2021. The units subscribed but not yet paid for at June 30, 2021 were accounted for as subscriptions receivable of $2,492,493. Subsequent to the close of the quarter ended June 30, 2021, and prior to the issuance of the financial statements for that period, cash of $2,375,393, net of $117,100 finders fees, was received and 14,129,132 shares and 6,725,481 Warrants were issued to complete the private placement transactions, including 494,248 Warrants issued for finders fees.

Common Shares issued for Exercise of Warrants

During the three months ended June 30, 2021, holders of Series D Warrants exercised 1,775,000 warrants for $0.14 per share to acquire 1,775,000 shares of the Company’s common stock for total cash proceeds of $248,500 to the Company. Also, holders of Series H Warrants exercised 375,000 warrants for $0.14 per share to acquire 375,000 shares of the Company’s common stock for total cash proceeds of $52,500 to the Company. During the three months ended June 30, 2021, 9,000,000 Series D warrants expired.

During the nine months ended June 30, 2021, holders of Series D Warrants exercised 3,500,000 warrants for $0.14 per share to acquire 3,500,000 shares of the Company’s common stock for total cash proceeds of $490,000 to the Company. Also, holders of Series E Warrants exercised 537,500 warrants for $0.14 per share to acquire 537,500 shares of the Company’s common stock for total cash proceeds of $75,250 to the Company. Also, holders of Series H Warrants exercised 375,000 warrants for $0.14 per share to acquire 375,000 shares of the Company’s common stock for total cash proceeds of $52,500 to the Company.  At June 30, 2021, the Company has a total of 67,628,336 warrants outstanding.

	Shares	Exercise Price ($)	Expiration Date
Warrants:
Outstanding and exercisable at September 30, 2020	75,634,670
Series M Warrants issued June 25, 2021	5,304,166	0.30	May 31, 2023
Series M Warrants issued for finders fees	102,000	0.30	May 31, 2023
Series D Warrants exercised	(3,500,000)	0.14
Series E Warrants exercised	(537,500)	0.14
Series H Warrants exercised	(375,000)	0.14
Series D Warrants expired April 30, 2021	(9,000,000)	0.14
Outstanding and exercisable at June 30, 2021	67,628,336