XML 33 R22.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measurements (Tables)
3 Months Ended
Dec. 31, 2025
Fair value  
Schedule of assets and liabilities measured at fair value

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December 31, 2025

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(Level 1)

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(Level 2)

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(Level 3)

Liabilities

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Unsecured convertible promissory note

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$

—

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$

—

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$

36,660,000

Warrant liability

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​

—

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—

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​

7,560,251

Total

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$

—

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$

—

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$

44,220,251

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September 30, 2025

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(Level 1)

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(Level 2)

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(Level 3)

Liabilities

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Unsecured convertible promissory note

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$

—

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$

—

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$

29,947,000

Warrant liability

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​

—

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—

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4,768,438

Total

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$

—

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$

—

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$

34,715,438

Schedule of changes in the fair value of Level 3 liabilities

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Unsecured Convertible

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Promissory Notes

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Warrants

Balance at October 1, 2025

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$

29,947,000

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$

4,768,438

Principal and accrued interest converted to common stock

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(30,736)

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—

Loss from change in fair value

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6,743,736

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2,791,813

Balance at December 31, 2025

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$

36,660,000

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$

7,560,251

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Unsecured promissory notes-aggregate  
Fair value  
Schedule of fair value inputs

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December 31, 2025

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September 30, 2025

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Term (years)

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0.5

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0.8

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Volatility

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172.0

%  

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118.0

%

Risk-free rate

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3.6

%

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3.8

%

Dividend yield

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​

—

%

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​

—

%

Credit-adjusted discount rate

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19.9

%

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18.8

%

Stock price

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$

1.58

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$

1.06

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Common stock warrants  
Fair value  
Schedule of fair value inputs

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December 31, 2025

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September 30, 2025

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Risk-free interest rate

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3.57

%  

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3.64

%

Remaining contractual term of warrants (years)

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3.2

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3.5

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Expected volatility

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153.5

%

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148.6

%

Annual dividend yield

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—

%

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—

%

Stock price

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$

1.58

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$

1.06

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