Series G Preferred Stock	6 Months Ended
Mar. 31, 2023
Series G Preferred Stock
Series G Preferred Stock	Note 6. 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. 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. During the six months ended March 31, 2023, the Company sold an aggregate of 89,100 shares of Series G Preferred Stock for net cash proceeds of $73,000. The Company recorded a debt discount of $16,100 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $89,100. The Company amortized $15,584 of discount related to Series G Preferred Stock for the six months ended March 31, 2023. The dividends on the Series G Preferred Stock are accrued as interest. The Company recognized $3,262 of interest on the Series G Preferred Stock and had an accrued interest balance of $1,690 and $3,983 as of March 31, 2023 and September 30, 2022, respectively. During the six months ended March 31, 2023, the holder of the Series G converted 138,875 shares of Series G and $5,555 of dividends into 56,100,514 shares of common stock. The conversions were in accordance with the terms of the agreement and no gain or loss was recognized. As of March 31, 2023 and September 30, 2022, 89,100 and 138,875 shares of the Series G Preferred Stock were issued and outstanding, respectively. The balance of the Series G Preferred stock liability was $76,003 and $126,294, respectively, net of unamortized discount of $13,097 and $12,581, respectively.

Series G Preferred Stock

6 Months Ended

Mar. 31, 2023

Note 6. 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.

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.

During the six months ended March 31, 2023, the Company sold an aggregate of 89,100 shares of Series G Preferred Stock for net cash proceeds of $73,000. The Company recorded a debt discount of $16,100 for the difference between the cash proceeds and the total amount to be redeemed by the holder of $89,100. The Company amortized $15,584 of discount related to Series G Preferred Stock for the six months ended March 31, 2023. The dividends on the Series G Preferred Stock are accrued as interest. The Company recognized $3,262 of interest on the Series G Preferred Stock and had an accrued interest balance of $1,690 and $3,983 as of March 31, 2023 and September 30, 2022, respectively. During the six months ended March 31, 2023, the holder of the Series G converted 138,875 shares of Series G and $5,555 of dividends into 56,100,514 shares of common stock. The conversions were in accordance with the terms of the agreement and no gain or loss was recognized.

As of March 31, 2023 and September 30, 2022, 89,100 and 138,875 shares of the Series G Preferred Stock were issued and outstanding, respectively. The balance of the Series G Preferred stock liability was $76,003 and $126,294, respectively, net of unamortized discount of $13,097 and $12,581, respectively.