Series G Preferred Stock	12 Months Ended
Sep. 30, 2022
Series G Preferred Stock
Series G Preferred Stock	Note 7. Series G Preferred Stock On August 11, 2021, our board of directors designated up to 1,000,000 shares of Series G Preferred Stock with a liquidation value of $1.00 per share. The holders of the Series G Preferred Stock have no voting rights except on matters related specifically to the Series G Preferred Stock. The Series G Preferred Stock carries a dividend of 8% of the stated value per share, which is cumulative and payable upon redemption, liquidation or conversion, and increases to 22% in case of default. The Series G Preferred Stock and accrued dividends are convertible beginning 180 days from issuance at the option of the holder into shares of common stock at a rate of a conversion price of 75% of the average three lowest trading prices during the 15 days prior to conversion. The Company will be required to redeem the Series G Preferred Stock upon the earlier of 15 months from issuance date or upon on event of default as defined in the agreement. The Company sold 93,500 shares for net cash proceeds of $81,250 of cash proceeds. Based on the economic characteristics of the Series G Preferred Stock, the Company determined that the Series G should be accounted for as a liability under ASC 480-10, based on the discounted conversion price providing an effectively fixed monetary amount that the preferred stock is convertible into. The Company recorded a debt discount of $25,000 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $106,250. The Company amortized $2,425 of this discount through September 30, 2021. The dividends on the Series G Preferred Stock are recorded as interest expense and totaled $1,164 through September 30, 2021. During the year ended September 30, 2022, the Company sold an aggregate of 369,875 shares of Series G Preferred Stock for net cash proceeds of $310,000. The Company recorded a debt discount of $59,875 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $369,875. The Company amortized $54,664 of discount related to Series G Preferred Stock for the year months ended September 30, 2022. The dividends on the Series G Preferred Stock are accrued as interest. The Company recognized $15,852 of interest on the Series G Preferred Stock and had an accrued interest balance of $3,983 and $1,281 as of September 30, 2022 and September 30, 2021, respectively. During the year ended September 30, 2022, the holder of the Series G converted 324,500 shares of Series G and $12,980 of dividends into 109,052,543 shares of common stock, and the Company recognized a loss of $5,939. As of September 30, 2022 and September 30, 2021, 138,875 and 93,500 shares of the Series G Preferred Stock were issued and outstanding, respectively. The balance of the Series G Preferred stock liability was $126,294 and $86,130, respectively, net of unamortized discount of $12,581 and $30,745, respectively.

Series G Preferred Stock

12 Months Ended

Sep. 30, 2022

Note 7. Series G Preferred Stock

On August 11, 2021, our board of directors designated up to 1,000,000 shares of Series G Preferred Stock with a liquidation value of $1.00 per share. The holders of the Series G Preferred Stock have no voting rights except on matters related specifically to the Series G Preferred Stock. The Series G Preferred Stock carries a dividend of 8% of the stated value per share, which is cumulative and payable upon redemption, liquidation or conversion, and increases to 22% in case of default. The Series G Preferred Stock and accrued dividends are convertible beginning 180 days from issuance at the option of the holder into shares of common stock at a rate of a conversion price of 75% of the average three lowest trading prices during the 15 days prior to conversion. The Company will be required to redeem the Series G Preferred Stock upon the earlier of 15 months from issuance date or upon on event of default as defined in the agreement. The Company sold 93,500 shares for net cash proceeds of $81,250 of cash proceeds.

Based on the economic characteristics of the Series G Preferred Stock, the Company determined that the Series G should be accounted for as a liability under ASC 480-10, based on the discounted conversion price providing an effectively fixed monetary amount that the preferred stock is convertible into. The Company recorded a debt discount of $25,000 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $106,250. The Company amortized $2,425 of this discount through September 30, 2021. The dividends on the Series G Preferred Stock are recorded as interest expense and totaled $1,164 through September 30, 2021.

During the year ended September 30, 2022, the Company sold an aggregate of 369,875 shares of Series G Preferred Stock for net cash proceeds of $310,000. The Company recorded a debt discount of $59,875 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $369,875. The Company amortized $54,664 of discount related to Series G Preferred Stock for the year months ended September 30, 2022. The dividends on the Series G Preferred Stock are accrued as interest. The Company recognized $15,852 of interest on the Series G Preferred Stock and had an accrued interest balance of $3,983 and $1,281 as of September 30, 2022 and September 30, 2021, respectively. During the year ended September 30, 2022, the holder of the Series G converted 324,500 shares of Series G and $12,980 of dividends into 109,052,543 shares of common stock, and the Company recognized a loss of $5,939.

As of September 30, 2022 and September 30, 2021, 138,875 and 93,500 shares of the Series G Preferred Stock were issued and outstanding, respectively. The balance of the Series G Preferred stock liability was $126,294 and $86,130, respectively, net of unamortized discount of $12,581 and $30,745, respectively.