Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2025

Fair value

Schedule of assets and liabilities measured at fair value

	December 31, 2025
	(Level 1)		(Level 2)		(Level 3)
Liabilities
Unsecured convertible promissory note	$	—	$	—	$	36,660,000
Warrant liability		—		—		7,560,251
Total	$	—	$	—	$	44,220,251
	September 30, 2025
	(Level 1)		(Level 2)		(Level 3)
Liabilities
Unsecured convertible promissory note	$	—	$	—	$	29,947,000
Warrant liability		—		—		4,768,438
Total	$	—	$	—	$	34,715,438

Schedule of changes in the fair value of Level 3 liabilities

	Unsecured Convertible
	Promissory Notes		Warrants
Balance at October 1, 2025	$	29,947,000	$	4,768,438
Principal and accrued interest converted to common stock		(30,736)		—
Loss from change in fair value		6,743,736		2,791,813
Balance at December 31, 2025	$	36,660,000	$	7,560,251

Unsecured promissory notes-aggregate

Fair value

Schedule of fair value inputs

	December 31, 2025			September 30, 2025
Term (years)		0.5			0.8
Volatility		172.0	%		118.0	%
Risk-free rate		3.6	%		3.8	%
Dividend yield		—	%		—	%
Credit-adjusted discount rate		19.9	%		18.8	%
Stock price	$	1.58		$	1.06

Common stock warrants

Fair value

Schedule of fair value inputs

	December 31, 2025			September 30, 2025
Risk-free interest rate		3.57	%		3.64	%
Remaining contractual term of warrants (years)		3.2			3.5
Expected volatility		153.5	%		148.6	%
Annual dividend yield		—	%		—	%
Stock price	$	1.58		$	1.06