STOCK OPTIONS AND WARRANTS

6 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

STOCK OPTIONS AND WARRANTS

9. STOCK OPTIONS AND WARRANTS

Options

During the six months ended March 31, 2025, the Company granted no new stock options.

During the six months ended March 31, 2025, 20,430 stock options were forfeited or expired because of termination of employment, expiration of options and performance conditions not met.

The following table summarizes stock option activity for the six months ended March 31, 2025.

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
Outstanding on September 30, 2024		20,430		$	177.44		0.02	$	-
Granted		-			-		-		-
Exercised		-			-		-		-
Expired		(20,430	)		177.44		0.02		-
Forfeited		-			-		-		-
Outstanding on March 31, 2025		-			-		-	$	-
Exercisable on March 31, 2025		-		$	-		-	$	-

The Company is expensing these stock option awards on a straight-line basis over the requisite service period. The Company recognized stock option expense of $Nil and $65,948 for six months ended March 31 2025, and 2024, respectively.

Warrants

On October 18, 2024, the holders of warrants issued by the Company exercised its cashless option to purchase an aggregate of 55,973 shares of the Company’s common stock pursuant to warrants issued by the Company. Such warrants were previously issued pursuant to the convertible note and warrant purchase agreement dated April 27, 2024, as disclosed in the current report of the Company on Form 8-K filed with the SEC on May 2, 2024. In connection with such cashless exercise, the Company will not receive any cash proceeds. The shares of common stock issuable upon exercise of such warrants were registered under the Form S-1 effective on July 1, 2024.

On January 16, 2025, the Company issued the 13,679,486 warrants to purchase common stock at an exercise price of $0.39 a share. These warrants will expire on January 16, 2027.

On January 17, 2025, the Company issued the 11,961,537 warrants to purchase common stock at an exercise price of $0.39 a share. These warrants will expire on January 17, 2027.

The following table summarizes warrant activity for six months ended March 31, 2025:

	Number of Shares Issuable Upon Exercise of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
Outstanding on September 30, 2024		214,850	$	112.67		2.42	$	-
Issued		25,641,023		0.39		-		-
Exercised		55,973		1.32		-		-
Expired		-		-		-		-
Outstanding on March 31, 2025		25,799,900	$	1.32		1.80		-
Exercisable on March 31, 2025		25,799,900	$	1.32		1.80	$	-