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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income (loss) $ 17,377,614 $ (11,178,239)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 28,801 28,195
Stock-based compensation 3,672,420 1,272,611
Loss from change in fair value of promissory notes 1,304,000 993,000
(Gain) loss from change in fair value of warrant liability (40,272,880) 53,342
Loss (income) on equity method investment 33,295 (2,548)
Changes in operating assets and liabilities:    
Inventory (3,109,397)  
Prepaid expenses and other current assets 5,633,097 (2,445,363)
Operating lease liabilities (12,071)  
Accounts payable 4,224,022 (3,094,197)
Accrued expenses 153,764 1,341,030
Net cash used in operating activities (10,967,335) (13,032,169)
FINANCING ACTIVITIES    
Proceeds from the sale of common stock, net of issuance costs 1,742,373  
Payments of finance lease obligations   (3,183)
Net cash provided by (used in) financing activities 1,742,373 (3,183)
Net decrease in cash and cash equivalents (9,224,962) (13,035,352)
Cash and cash equivalents at beginning of period 14,927,538 23,391,982
Cash and cash equivalents at end of period 5,702,576 $ 10,356,630
Supplemental schedule of non-cash financing activities:    
Reclassification of deferred offering costs against ATM proceeds $ 6,331