Discontinued Operations (Tables)

6 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations of Income Statement and Balance Sheet Disclosures

The balance sheets of Digipath Labs are summarized below:

	March 31, 2024		September 30, 2023
Current assets:
Accounts receivable, net	$	-	$	447,410
Deposits		-		18,675
Other current assets		-		20,137
Total current assets		-		486,222
Right-of-use asset		-		274,985
Fixed assets, net		-		368,681
Total long term assets		-		643,666
Total Assets	$	-	$	1,129,888
Current liabilities:
Accounts payable	$	-	$	158,869
Accrued expenses		-		61,512
Current portion of operating lease liabilities		-		83,757
Current maturities of notes payable		-		64,517
Total current liabilities		-		368,655
Operating lease liabilities		-		143,245
Notes payable		-		15,911
Total long term liabilities		-		159,156
Total Liabilities	$	-	$	527,811

The statements of operations of Digipath Labs combined are summarized below:

	For the Three Months Ended						For the Six Months Ended
	March 31,						March 31
	2024			2023			2024			2023
Revenues	$	712,145		$	760,710		$	1,635,299		$	1,487,465
Cost of sales		229,013			459,608			650,524			882,443
Gross profit		483,132			301,102			984,775			605,022
Operating expenses:
General and administrative		189,983			224,346			393,168			504,990
Professional fees		-			20,688			4,750			43,460
Total operating expenses		189,983			245,034			397,918			548,450
Operating income(loss)		293,149			56,068			586,857			56,572
Other income (expense):
Interest expense		(620	)		(1,745	)		(1,701	)		(3,706	)
Total other income (expense)		(620	)		(1,745	)		(1,701	)		(3,706	)
Net income (loss)	$	292,529		$	54,323		$	585,156		$	52,866