Loans Payables (Tables)

6 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt [Table Text Block]

On June 24, 2020, Fuse Biotech received $105,400 from the Economic Injury Disaster Loan (“EIDL loan”) from the SBA after deducting $100 Uniform Commercial Code (“UCC”) handling charge and filing fee. This is a low-interest federal disaster loan for working capital to small businesses and non-profit organizations of any size suffering substantial economic injury as a result of the Coronavirus (COVID-19), to help the businesses to meet financial obligations and operating expenses that could have been met had the disaster not occurred.  This loan has annual interest of 3.75% and is not forgivable. The maturity of the loan is 30 years, installment payments including principal and interest of $515 monthly will begin 12 months from the date of the promissory note. As of March 31, 2020, the future minimum principal amount of loan payments to be paid by year are as follows:

Year Ending	Amount
03/31/2022	$	51,363
03/31/2023		2,189
03/31/2024		2,273
03/31/2025		2,359
03/31/2026		2,449
Thereafter		97,472
Total	$	158,105