0001923891 2023-10-01 2024-03-31 0001923891 dei:BusinessContactMember 2023-10-01 2024-03-31 0001923891 2024-03-31 0001923891 2023-09-30 0001923891 us-gaap:RelatedPartyMember 2024-03-31 0001923891 us-gaap:RelatedPartyMember 2023-09-30 0001923891 2022-09-30 0001923891 us-gaap:RelatedPartyMember 2022-09-30 0001923891 2024-01-01 2024-03-31 0001923891 2023-01-01 2023-03-31 0001923891 2022-10-01 2023-03-31 0001923891 2022-10-01 2023-09-30 0001923891 2022-02-08 2022-09-30 0001923891 NNE:MezzanineEquityMember 2023-12-31 0001923891 us-gaap:CommonStockMember 2023-12-31 0001923891 NNE:StockSubscriptionsMember 2023-12-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001923891 us-gaap:RetainedEarningsMember 2023-12-31 0001923891 2023-12-31 0001923891 us-gaap:CommonStockMember 2023-09-30 0001923891 us-gaap:AdditionalPaidInCapitalMember 2023-09-30 0001923891 us-gaap:RetainedEarningsMember 2023-09-30 0001923891 NNE:MezzanineEquityMember 2023-09-30 0001923891 us-gaap:CommonStockMember 2022-12-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001923891 us-gaap:RetainedEarningsMember 2022-12-31 0001923891 2022-12-31 0001923891 us-gaap:CommonStockMember 2022-09-30 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-09-30 0001923891 us-gaap:RetainedEarningsMember 2022-09-30 0001923891 NNE:MezzanineEquityMember 2022-09-30 0001923891 us-gaap:CommonStockMember 2022-02-07 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-02-07 0001923891 us-gaap:RetainedEarningsMember 2022-02-07 0001923891 2022-02-07 0001923891 NNE:MezzanineEquityMember 2022-02-07 0001923891 NNE:MezzanineEquityMember 2024-01-01 2024-03-31 0001923891 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001923891 NNE:StockSubscriptionsMember 2024-01-01 2024-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001923891 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001923891 us-gaap:CommonStockMember 2023-10-01 2024-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2023-10-01 2024-03-31 0001923891 us-gaap:RetainedEarningsMember 2023-10-01 2024-03-31 0001923891 NNE:MezzanineEquityMember 2023-10-01 2024-03-31 0001923891 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001923891 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001923891 us-gaap:CommonStockMember 2022-10-01 2023-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-10-01 2023-03-31 0001923891 us-gaap:RetainedEarningsMember 2022-10-01 2023-03-31 0001923891 us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-10-01 2023-09-30 0001923891 us-gaap:RetainedEarningsMember 2022-10-01 2023-09-30 0001923891 NNE:MezzanineEquityMember 2022-10-01 2023-09-30 0001923891 us-gaap:CommonStockMember 2022-02-08 2022-09-30 0001923891 us-gaap:AdditionalPaidInCapitalMember 2022-02-08 2022-09-30 0001923891 us-gaap:RetainedEarningsMember 2022-02-08 2022-09-30 0001923891 NNE:MezzanineEquityMember 2022-02-08 2022-09-30 0001923891 NNE:MezzanineEquityMember 2024-03-31 0001923891 us-gaap:CommonStockMember 2024-03-31 0001923891 NNE:StockSubscriptionsMember 2024-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001923891 us-gaap:RetainedEarningsMember 2024-03-31 0001923891 us-gaap:CommonStockMember 2023-03-31 0001923891 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001923891 us-gaap:RetainedEarningsMember 2023-03-31 0001923891 2023-03-31 0001923891 NNE:OfficersAndDirectorsMember 2024-01-01 2024-03-31 0001923891 NNE:OfficersAndDirectorsMember 2023-01-01 2023-03-31 0001923891 NNE:OfficersAndDirectorsMember 2023-10-01 2024-03-31 0001923891 NNE:OfficersAndDirectorsMember 2022-10-01 2023-03-31 0001923891 NNE:PresidentAndChairmanMember 2022-10-01 2023-09-30 0001923891 srt:ChiefExecutiveOfficerMember 2022-10-01 2023-09-30 0001923891 srt:ChiefFinancialOfficerMember 2022-10-01 2023-09-30 0001923891 NNE:ChiefPolicyOfficerMember 2022-10-01 2023-09-30 0001923891 NNE:ThreeIndependentDirectorsMember 2022-10-01 2023-09-30 0001923891 NNE:PresidentAndChairmanMember 2022-02-08 2022-09-30 0001923891 srt:ChiefExecutiveOfficerMember 2022-02-08 2022-09-30 0001923891 srt:ChiefFinancialOfficerMember 2022-02-08 2022-09-30 0001923891 NNE:ChiefPolicyOfficerMember 2022-02-08 2022-09-30 0001923891 NNE:OneIndependentDirectorsMember 2022-02-08 2022-09-30 0001923891 NNE:FounderAndPresidentMember us-gaap:CommonStockMember 2023-10-01 2024-03-31 0001923891 NNE:SeedRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-02-08 2022-09-30 0001923891 NNE:SeedRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-02-08 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-10-01 2023-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2023-09-30 0001923891 NNE:SeriesARoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2022-10-01 2023-09-30 0001923891 NNE:SeriesARoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2023-09-30 0001923891 NNE:SeriesBRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2023-12-31 0001923891 NNE:SeriesBRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2024-01-31 0001923891 NNE:SeriesBRoundMember us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2024-01-01 2024-01-31 0001923891 NNE:TwoConsultantsMember us-gaap:CommonStockMember 2023-10-01 2024-03-31 0001923891 NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2023-02-10 2023-02-10 0001923891 NNE:TwentyTwentyThreeStockOptionPlanTwoMember us-gaap:CommonStockMember 2023-06-07 2023-06-07 0001923891 NNE:ExpiredOnFebruaryTenTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnFebruaryTenTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2023-09-30 0001923891 NNE:ExpiredOnJuneSevenTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnJuneSevenTwoThousandTwentySixMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnJuneSevenTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanTwoMember us-gaap:CommonStockMember 2023-09-30 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanTwoMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanTwoMember us-gaap:CommonStockMember 2023-09-30 0001923891 NNE:ExpiredOnJuneSevenTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanTwoMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:FounderAndPresidentMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:SeedRoundMember us-gaap:CommonStockMember 2022-02-08 2022-09-30 0001923891 NNE:SeedRoundMember us-gaap:CommonStockMember 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember 2022-02-08 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember 2022-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:AngelRoundMember us-gaap:CommonStockMember 2023-09-30 0001923891 NNE:SeriesARoundMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:SeriesARoundMember us-gaap:CommonStockMember 2023-09-30 0001923891 NNE:SeriesBRoundMember us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2023-10-01 2024-07-04 0001923891 NNE:SeriesBRoundMember us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2024-07-04 0001923891 NNE:SubscriptionAgreementMember 2023-09-30 0001923891 NNE:TwoConsultantsMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ConsultantsMember us-gaap:CommonStockMember 2022-02-08 2022-09-30 0001923891 srt:MaximumMember NNE:TwentyTwentyThreeStockIncentivePlanMember 2023-02-10 2023-02-10 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember NNE:TwentyTwentyThreeStockOptionPlanOneMember us-gaap:CommonStockMember 2023-09-30 0001923891 us-gaap:GeneralAndAdministrativeExpenseMember 2022-10-01 2023-09-30 0001923891 us-gaap:ResearchAndDevelopmentExpenseMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnFebruaryTenTwoThousandTwentySixMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnJuneSevenTwoThousandTwentySixMember 2022-10-01 2023-09-30 0001923891 NNE:ExpiredOnAugustThirtyTwoThousandTwentySixMember 2022-10-01 2023-09-30 0001923891 us-gaap:SubsequentEventMember us-gaap:IPOMember 2024-05-07 2024-05-07 0001923891 us-gaap:SubsequentEventMember us-gaap:IPOMember 2024-05-07 0001923891 us-gaap:SubsequentEventMember us-gaap:OverAllotmentOptionMember 2024-05-07 2024-05-07 0001923891 us-gaap:SubsequentEventMember us-gaap:OverAllotmentOptionMember 2024-05-22 2024-05-22 0001923891 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2023-10-01 2024-07-04 0001923891 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2024-07-04 iso4217:USD shares iso4217:USD shares pure false 0001923891

S-1 NANO NUCLEAR ENERGY INC. NV 88-0861977 10 Times Square 30th Floor New York NY 10018 (212) 634-9206 Nano Nuclear Energy Inc. 10 Times Square 30th Floor New York NY 10018 (212) 634-9206 Non-accelerated Filer true true false

5955028

6952795

634977

205857

6590005

7158652

130000

75000

235235

1914778

8870018

7233652

299508

190005

25000

35000

280951

605459

225005

1628591

2234050

225005

2000000

5000000

0.0001

25000000

100000000

0.0001

275000000

100000000

26007013

23184869

2000000

2601

2319

16907165

9288553

-10273798

-7282225

6635968

2008647

8870018

7233652

1423309

1127534

2252205

1683973

290539

392900

810555

520606

-1713848

-1520434

-3062760

-2204579

36220

71187

-1677628

-1520434

-2991573

-2204579

-0.07

-0.13

-0.10

-0.07

-0.13

-0.10

23861244

22307508

23521208

21747734

23861244

22307508

23521208

21747734

2000000

5000000

2000000

5000000

23184869

2319

2106437

9288553

-8596170

2801139

822144

-2106437

2466355

360000

-2000000 -5000000 -5000000 2000000 200 4999800 5000000

152457

-1677628

26007013

2601

16907165

-10273798

6635968

2000000

5000000

23184869

2319

9288553

-7282225

2008647

822144

2466355

2466437

-2000000 -5000000 2000000 200 4999800 5000000

152457

-2991573

26007013

2601

16907165

-10273798

6635968

22099369

2214

4737155

-1715969

3023400

307500

307473

307500

584484

-1520434

22406869

2241

5629112

-3236403

2394950

20501500

2050

3139450

-1031824

2109676

20501500

2050

3139450

-1031824

2109676

1820369

182

1820187

1820369

85000

669475

669484

-2204579

22406869

2241

5629112

-3236403

2394950

22406869

2241

5629112

-3236403

2394950

-2991573

-2204579

152457

669484

11878

429120

-17024

235235

109503

-6068

-10000

55000

-17114

-3409204

-1469139

2466437

1820369

55000 50000

2411437

1770369

-977767

301230

6952795

2129999

5955028

2431229

-5000000 1926656

<p id="xdx_80C_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_z5JrN8zDtN3a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">1. ORGANIZATION AND OPERATIONS AND BASIS OF PRESENTATION NANO Nuclear Energy Inc. (“NANO” or the “Company”) was incorporated under the laws of the state of Nevada on February 8, 2022 (“Inception”) and is headquartered in New York, New York. The Company is an early-stage nuclear energy company developing smaller, cheaper, and safer advanced portable clean energy solutions utilizing proprietary reactor designs, intellectual property and research methods. Currently in technical development are “ZEUS”, a solid core battery reactor and “ODIN”, a low-pressure coolant reactor, representing the Company’s first generation of portable, on-demand capable, advanced nuclear micro reactors. The Company envisions readily replaceable mobile reactors which it can provide to customers in several sectors, including data centers, artificial intelligence computer and quantum computing; crypto mining; military applications; disaster relief; transportation (including shipping); mining projects; water desalination and green hydrogen plants; and space exploration. Through its subsidiary, HALEU Energy Fuel Inc., the Company is also developing a domestic source for a High-Assay Low-Enriched Uranium (“HALEU”) fuel fabrication pipeline for the broader advanced nuclear reactor industry and providing fuel to power the Company’s microreactors. Further, through its subsidiary Advanced Fuel Transportation Inc., the Company is developing a high-capacity HALEU transportation product, capable of moving commercial quantities of HALEU fuel around North America. The Company also plans to offer nuclear service support and consultation services. These condensed consolidated interim financial statements include the accounts of the Company and its wholly-owned subsidiaries American Uranium Inc., HALEU Energy Fuel Inc., and Advanced Fuel Transportation Inc. Each of such subsidiaries is a Nevada corporation. As used herein, the term “Common Stock” refers to the common stock, $0.0001 par value per share, of the Company. Liquidity These condensed consolidated interim financial statements have been prepared on a going concern basis, which assumes the realization of assets and settlement of liabilities in the normal course of business. At March 31, 2024, the Company had working capital of $5,984,546, net loss of $2,991,573, accumulated deficit of $10,273,798 and negative cash flows from operations of $3,409,204. At September 30, 2023, the Company had working capital of $6,933,647, net loss of $6,250,401, accumulated deficit of $7,282,225 and negative cash flows from operations of $3,867,573. The application of the going concern concept is dependent on the Company’s ability to receive continued financial support from its stakeholders and, ultimately, on the Company’s ability to generate profitable operations. Management is of the opinion that sufficient working capital is available to meet the Company’s liabilities and commitments as they come due at least for the next twelve months after the date the condensed consolidated interim financial statements are issued to conform to the going concern uncertainty period. In order to achieve the Company’s long-term strategy, the Company expects to raise additional equity contributions to support its growth. These unaudited condensed consolidated interim financial statements do not reflect any adjustments or reclassifications of assets and liabilities which would be necessary if the Company were unable to continue as a going concern.

0.0001

5984546

-2991573

-10273798

-3409204

6933647

-6250401

-7282225

-3867573

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed consolidated interim financial statements have been prepared in accordance with U.S. GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission (“SEC”). References to ASC and ASU included herein refer to the Accounting Standards Codification and Accounting Standards Update established by the Financial Accounting Standards Board (“FASB”) as the source of authoritative U.S. GAAP. All intercompany balances and transactions have been eliminated in consolidation. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. They include all adjustments, consisting of only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2024, and its results of operations for the three and six months ended March 31, 2024 and 2023 and cash flows for the six months ended March 31, 2024 and 2023. The results for the three and six months ended March 31, 2024 are not necessarily indicative of the results expected for the year or any other periods. The condensed consolidated balance sheet as of September 30, 2023 has been derived from the Company’s audited financial statements. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) Use of Estimates The preparation of condensed consolidated interim financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the condensed consolidated interim financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates. Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 – Quoted prices in active markets for identical instruments. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and accounts payable approximates fair value due to their short maturities. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains its cash balances at a financial institution and such amounts exceeded federally insured limits at March 31, 2024 and September 30, 2023. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Prepaid Expenses Prepaid expenses primarily relate to payments made to consultants and vendors in advance of the service being provided. Leases The Company recognizes right-of-use (ROU) assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of March 31, 2024, the Company has one short-term operating lease and one long-term operating lease. As of September 30, 2023, the Company had one short-term operating lease. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term lease relates to office facilities which did not meet the criteria for capitalization as of March 31, 2024 and September 30, 2023. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) Mezzanine Equity The Company recognized a tranche of shares of Common Stock as mezzanine equity since such shares were redeemable at the option of the holder, but not mandatorily redeemable. On March 30, 2024, the Company amended its subscription agreement with the holder of such shares to terminate the redemption right, which resulted in a conversion of such shares from mezzanine equity to stockholders’ equity. See Note 5 for further information. <p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zazrMC7qprb2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Equity-Based Compensation Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the award vests. Equity-based compensation is recorded as a general and administrative expense in the condensed consolidated statements of operations. Research and Development Research and Development (“R&D”) expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred. Advertising Costs Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $434,800 and $608,600 for the three and six months ended March 31, 2024, respectively and $159,200 and $177,600 for the three and six months ended March 31, 2023, respectively. Legal Contingencies The Company is not presently involved in any legal proceedings. The Company records liabilities for losses from legal proceedings when it determines that it is probable that the outcome in a legal proceeding will be unfavorable, and the amount of loss can be reasonably estimated. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when it is “more likely-than-not” that deferred tax assets will not be realized. On a regular basis, the Company evaluates the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment. The Company considers multiple factors in its evaluation of the need for a valuation allowance. The Company’s net deferred tax assets consist of assets related to net operating losses. The Company’s net operating losses and credits have an indefinite life for federal net operating losses (“NOLs”) generated through March 31, 2024. At March 31, 2024 and September 30, 2023, the Company recorded a full valuation allowance on its deferred tax assets in the amount of approximately $2,599,000 and $1,971,000, respectively. The Company’s deferred tax assets consist primarily of net operating losses and research and development credits. The effective tax rate was 0.0% for the three and six months ended March 31, 2024 and 2023. The Company’s effective tax rate for the three and six months ended March 31, 2024 and 2023 differs from the federal statutory rate of 21% primarily due to a full valuation allowance against its net deferred tax assets where it is more likely than not that the deferred tax assets will not be realized. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) Until an appropriate level of profitability is attained, the Company expects to maintain a full valuation allowance on its deferred tax assets. Any tax benefits or tax expense recorded on its consolidated statements of operations will be offset with a corresponding valuation allowance until such time that the Company changes its determination related to the realization of deferred tax assets. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such a determination is made. For uncertain tax positions that meet a “more likely-than-not” threshold, the Company recognizes the benefit of uncertain tax positions in the condensed consolidated interim financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. The Company’s 2023 tax returns remain subject to examination by taxing jurisdictions. At March 31, 2024 and September 30, 2023, the Company does not believe it has any uncertain tax positions that would require either recognition or disclosure in the accompanying condensed consolidated interim financial statements. Net Loss per Share Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company by the weighted average number of shares of Common Stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of shares of Common Stock outstanding plus the effect of dilutive potential shares of Common Stock outstanding during the period. During the periods when there is a net loss, potentially dilutive shares of Common Stock are excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. During the three and six months ended March 31, 2024 and 2023, there were no dilutive shares issued or outstanding. Operating Segments For the three and six months ended March 31, 2024 and 2023, the Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. Furthermore, the Company determined that the Company’s Chairman and President is the Chief Operating Decision Maker as he is responsible for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and managing the organization as a whole. <p id="xdx_849_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zWV8SziMEtca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the FASB. There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current condensed consolidated interim financial statements.

Basis of Presentation The accompanying unaudited interim condensed consolidated interim financial statements have been prepared in accordance with U.S. GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission (“SEC”). References to ASC and ASU included herein refer to the Accounting Standards Codification and Accounting Standards Update established by the Financial Accounting Standards Board (“FASB”) as the source of authoritative U.S. GAAP. All intercompany balances and transactions have been eliminated in consolidation. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements. They include all adjustments, consisting of only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2024, and its results of operations for the three and six months ended March 31, 2024 and 2023 and cash flows for the six months ended March 31, 2024 and 2023. The results for the three and six months ended March 31, 2024 are not necessarily indicative of the results expected for the year or any other periods. The condensed consolidated balance sheet as of September 30, 2023 has been derived from the Company’s audited financial statements. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited)

Use of Estimates The preparation of condensed consolidated interim financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the condensed consolidated interim financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates.

Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 – Quoted prices in active markets for identical instruments. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and accounts payable approximates fair value due to their short maturities.

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains its cash balances at a financial institution and such amounts exceeded federally insured limits at March 31, 2024 and September 30, 2023. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

Prepaid Expenses Prepaid expenses primarily relate to payments made to consultants and vendors in advance of the service being provided.

Leases The Company recognizes right-of-use (ROU) assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of March 31, 2024, the Company has one short-term operating lease and one long-term operating lease. As of September 30, 2023, the Company had one short-term operating lease. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term lease relates to office facilities which did not meet the criteria for capitalization as of March 31, 2024 and September 30, 2023. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited)

Mezzanine Equity The Company recognized a tranche of shares of Common Stock as mezzanine equity since such shares were redeemable at the option of the holder, but not mandatorily redeemable. On March 30, 2024, the Company amended its subscription agreement with the holder of such shares to terminate the redemption right, which resulted in a conversion of such shares from mezzanine equity to stockholders’ equity. See Note 5 for further information.

<p id="xdx_849_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zazrMC7qprb2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Equity-Based Compensation Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the award vests. Equity-based compensation is recorded as a general and administrative expense in the condensed consolidated statements of operations.

Research and Development Research and Development (“R&D”) expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred.

Advertising Costs Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $434,800 and $608,600 for the three and six months ended March 31, 2024, respectively and $159,200 and $177,600 for the three and six months ended March 31, 2023, respectively.

434800

608600

159200

177600

Legal Contingencies The Company is not presently involved in any legal proceedings. The Company records liabilities for losses from legal proceedings when it determines that it is probable that the outcome in a legal proceeding will be unfavorable, and the amount of loss can be reasonably estimated.

Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when it is “more likely-than-not” that deferred tax assets will not be realized. On a regular basis, the Company evaluates the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment. The Company considers multiple factors in its evaluation of the need for a valuation allowance. The Company’s net deferred tax assets consist of assets related to net operating losses. The Company’s net operating losses and credits have an indefinite life for federal net operating losses (“NOLs”) generated through March 31, 2024. At March 31, 2024 and September 30, 2023, the Company recorded a full valuation allowance on its deferred tax assets in the amount of approximately $2,599,000 and $1,971,000, respectively. The Company’s deferred tax assets consist primarily of net operating losses and research and development credits. The effective tax rate was 0.0% for the three and six months ended March 31, 2024 and 2023. The Company’s effective tax rate for the three and six months ended March 31, 2024 and 2023 differs from the federal statutory rate of 21% primarily due to a full valuation allowance against its net deferred tax assets where it is more likely than not that the deferred tax assets will not be realized. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) Until an appropriate level of profitability is attained, the Company expects to maintain a full valuation allowance on its deferred tax assets. Any tax benefits or tax expense recorded on its consolidated statements of operations will be offset with a corresponding valuation allowance until such time that the Company changes its determination related to the realization of deferred tax assets. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such a determination is made. For uncertain tax positions that meet a “more likely-than-not” threshold, the Company recognizes the benefit of uncertain tax positions in the condensed consolidated interim financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. The Company’s 2023 tax returns remain subject to examination by taxing jurisdictions. At March 31, 2024 and September 30, 2023, the Company does not believe it has any uncertain tax positions that would require either recognition or disclosure in the accompanying condensed consolidated interim financial statements.

2599000

1971000

0.000

0.21

Net Loss per Share Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company by the weighted average number of shares of Common Stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of shares of Common Stock outstanding plus the effect of dilutive potential shares of Common Stock outstanding during the period. During the periods when there is a net loss, potentially dilutive shares of Common Stock are excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. During the three and six months ended March 31, 2024 and 2023, there were no dilutive shares issued or outstanding.

Operating Segments For the three and six months ended March 31, 2024 and 2023, the Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. Furthermore, the Company determined that the Company’s Chairman and President is the Chief Operating Decision Maker as he is responsible for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and managing the organization as a whole.

<p id="xdx_849_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zWV8SziMEtca" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the FASB. There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current condensed consolidated interim financial statements.

3. OTHER INCOME During the three and six months ended March 31, 2024, the Company earned interest income of $36,220 and $71,187 on its cash held at a financial institution. During the three and six months ended March 31, 2023, the Company did not earn any interest income.

36220

71187

4. RELATED PARTIES At March 31, 2024 and September 30, 2023, the Company had amounts due to related parties of $25,000 and $35,000, respectively. The amounts due at March 31, 2024 and September 30, 2023 corresponded to unpaid amounts due to officers and directors for services rendered during the six months ended March 31, 2024 and during the year ended September 30, 2023. The aggregate compensation paid, or payable, to officers and directors during the three months ended March 31, 2024 and 2023 were $105,000 and $115,000, respectively, and during the six months ended March 31, 2024 and 2023 were $290,000 and $<span id="xdx_900_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20221001__20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OfficersAndDirectorsMember_z8TlxYdWYWaf" title="Related party value">205,000, respectively, which are included in the condensed consolidated statements of operations under general and administrative expenses. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited)

25000

35000

105000

115000

290000

205000

5. EQUITY The Company is authorized to issue 275,000,000 shares of Common Stock and 25,000,000 shares of preferred stock, with a par value of $0.0001 per share. No shares of preferred stock were outstanding during the periods presented. Holders of Common Stock are entitled to one vote per share. Issuance of Common Stock for Cash Incorporation Upon incorporation of the Company, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231001__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--FounderAndPresidentMember_zhJX23A4QRFd">10,000,000 shares of Common Stock were issued to the Company’s founder and president for proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20231001__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--FounderAndPresidentMember_zXbhkuTSe9gh">50,000. Seed Round The Company’s initial round of private financing (the “Seed Round”) began in March 2022 and ended in April 2022. During the period from Inception through September 30, 2022, the Company sold <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zxHt3HZZScMh">7,500,000 shares of Common Stock at a price of $<span id="xdx_90E_eus-gaap--SaleOfStockPricePerShare_iI_c20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zW7POBA0Ggl2">0.05 per share for proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zO40HXovKwl5">375,000 as part of the Seed Round. Angel Round The Company’s second round of private financing (the “Angel Round”) began in April 2022 and ended in February 2023. During the period from Inception to September 30, 2022, the Company sold <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zHxCfQrCeMld">2,326,500 shares of Common Stock at a price of $<span id="xdx_901_eus-gaap--SaleOfStockPricePerShare_iI_c20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zxKmCuxHWmCl">1.00 per share for proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zl9zBnO1AUW9">2,326,500 as part of the Angel Round. During the year ended September 30, 2023, the Company sold <span id="xdx_903_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_z1cJHFnAhv19">1,820,369 shares of Common Stock at a price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_z7C6rxe3Quke">1.00 per share for proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_z0r9yeakXVH8">1,820,369 as part of the Angel Round. Series A Round The Company’s third round of private financing (the “Series A Round”) began in April 2023 and ended in June 2023. During the year ended September 30, 2023, the Company sold <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zZrQBokxicyf">778,000 shares of Common Stock at a price of $<span id="xdx_900_eus-gaap--SaleOfStockPricePerShare_iI_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zMfbQY95Bc1i">2.50 per share for proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zCDFBhS7Hbz4">1,945,000 as part of the Series A Round. Series B Round The Company’s fourth round of private financing (the “Series B Round”) began in December 2023 and ended in January 2024. As of December 31, 2023, the Company received $<span id="xdx_904_eus-gaap--CommonStockSharesSubscriptions_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember_zpZUUKvTmR1e">2,106,437 in subscriptions as part of the Series B Round, and in January 2024, the Company received $<span id="xdx_909_eus-gaap--CommonStockSharesSubscriptions_iI_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember_zc7rArJAl7e3">360,000 in subscriptions. In January 2024, the Company sold and issued <span id="xdx_901_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240101__20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember_zkQmDdeFuEj">822,144 shares of Common Stock at a price of $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_c20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember_zrAuD32q26Xc">3.00 per share for gross proceeds of $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20240101__20240131__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember_zn2663FyOeTb">2,466,437 to close the Series B Round. Mezzanine Equity Pursuant to the terms of a subscription agreement (the “Put Right Subscription Agreement”) signed by the Company during the year ended September 30, 2023 as part of the Series A Round, a subscriber (the “Subscriber”) purchased 2,000,000 shares of Common Stock (the “Put Shares”) for $2.50 per share or $5,000,000 (the “Purchase Price”). The Put Right Subscription Agreement included a right (the “Put Right”) which entitled the Subscriber to elect to sell to the Company any part or all of the Put Shares acquired if: (a) the Company’s initial public offering registration statement (“IPO Registration Statement”) was not declared effective by the SEC by December 31, 2023; (b) the Company committed a material breach of the Agreement and either that breach was not capable of being remedied or, if capable of remedy, the Company did not remedy that breach as soon as possible and in any event within 30 business days of its receipt of a notice from the Subscriber requiring the Company to remedy that breach. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) ASC 480-10-S99-3A provides guidance on the classification and measurement of redeemable securities, which requires classification in temporary equity of securities redeemable for cash or other assets if they are redeemable under certain conditions. One of these conditions is the occurrence of an event that is not solely within the control of the issuer. This condition was applicable up to March 30, 2024, as the Subscriber could have exercised the Put Option and required the Company to redeem the Put Shares since the IPO Registration Statement was not declared effective by the SEC by December 31, 2023. This process involved a significant number of third parties and the SEC’s declaration of effectiveness was ultimately within the SEC’s control. Therefore, this contingently redeemable feature was not considered to be within the control of the Company and was classified within Mezzanine Equity on the accompanying consolidated balance sheet at September 30, 2023. On March 30, 2024, the Subscriber terminated the Put Option at the request of the Company and the amount within Mezzanine Equity was converted to Stockholders’ Equity. Equity-Based Compensation Issuance of Common Stock for Consulting fees During the six months ended March 31, 2023, the Company issued to two consultants an aggregate of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20231001__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--TwoConsultantsMember_zMh4rGN6wrX">85,000 shares of Common Stock with an aggregate fair value of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20231001__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--TwoConsultantsMember_zxjryvaxVlya">85,000, which represents equity-based compensation and is recorded within operating expenses. The fair value of shares is determined by the value of services rendered as indicated in the corresponding consulting agreements and by reference to recent cash sales of Common Stock to third parties. Stock Based Compensation On February 10, 2023, and on June 7, 2023, the Company adopted two distinct stock option plans which are referred to individually, as the 2023 Stock Option Plan #1 and the 2023 Stock Option Plan #2; (collectively, the “2023 Stock Option Plans”). There are <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20230210__20230210__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember_zH7tpHNHhdIc">3,370,352 shares available for issuance under the 2023 Stock Option Plan #1, and the maximum number of shares available under the plan may increase on an annual basis on the anniversary date of this option plan if the total number of stock options issued under the 2023 Stock Option Plans is less than 15% of the number of issued shares of Common Stock. There are <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20230607__20230607__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember_zgVFO0egymjl">1,758,460 shares of Common Stock available for issuance under the 2023 Stock Option Plan #2, and the maximum number of shares available under the plan may increase on a quarterly basis if the total number of stock options issued under the 2023 Stock Option Plans is less than 15% of the number of issued shares of Common Stock. The plans are otherwise substantially similar in their substance. During the three months ended March 31, 2024, the Company issued <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20240101__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIiO9hrGqp0d">125,000 fully vested stock options exercisable at $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z690hktX1IY9">3.00 per common share with expiry on March 13, 2027. The <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20240101__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zqjx1SaQwzO1">125,000 options were valued at $<span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240101__20240331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zoEnjIZjz6e6">152,457 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: 4.37%; expected life of options: 1.5 years; estimated volatility: 82.5%; dividend rate: 0%). During the year ended September 30, 2023, the Company issued <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zyrGROtsz4K4">2,050,000 fully vested stock options under Stock Option Plan #1 exercisable at $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zSqiXETqSR8k">1.50 per common share with expiry on February 10, 2026, issued <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_z7ehrABc8EJj">1,450,000 fully vested stock options under Stock Option Plan #2 and <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_znw7aYMcmkWi">200,000 fully vested stock options which are not governed by the Company’s 2023 Stock Option Plans that are exercisable at $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zqf2rArQKcQe">3.00 per common share with expiry on June 7, 2026, and issued <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zaayC49GBeMf">247,000 fully vested stock options under Stock Option Plan #2 and <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zZDZ6Lv6sdai">60,000 fully vested stock options which are not governed by the Company’s 2023 Stock Option Plans that are exercisable at $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zLmDSF6V9wyb">3.00 per common share with expiry on August 30, 2026. The <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z7Lmw6ufRf3h">2,050,000 options were valued at $<span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zdnynUrMomp7">584,484 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z47Py2ez1Uzl">4.19%; expected life of options: <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zhzCDrQ4hz0k">1.5 years; estimated volatility: <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z84PVEkM2le3">82.5%; dividend rate: <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zKEexxjvbNzi">0%). The <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zVJ2MjynKHG8">1,450,000 and <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zwxTOMzLdESg">200,000 options were valued at $<span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zocIz8Zwq9zf">1,444,530 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zkqp5cSReiQf">4.21%; expected life of options: <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zfxXJFWEko73">1.5 years; estimated volatility: <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zFh7U1FrZ7wj">82.5%; dividend rate: <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_z57qiCr005Fk">0%). The <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_z4dF2FoDUrW5">247,000 and <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zS1ffpIPeaMg">60,000 options were valued at $<span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zEip6b0R79tk">269,989 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zCLtFKZYcs8f">4.57%; expected life of options: <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zfXSz5FPzF7h">1.5 years; estimated volatility: <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zwd9cPpGy3Pd">82.5%; dividend rate: <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_dp_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zyXgIblRgyX5">0%). During the six months ended March 31, 2024 and during the year ended September 30, 2023, the Company’s assumptions utilized in the Black-Scholes valuation were the following: (1) stock price based on recent sales of Common Stock to unrelated parties; (2) estimated the volatility of its underlying stock by using an average of the historical volatility of a group of comparable publicly traded companies; (3) expected dividend yield was calculated using historical dividend amounts; (4) risk-free rate is based on the United States Treasury yield curve in effect at the time of the grant; (5) expected term was estimated based on the vesting and contractual term of the stock option grant. NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited) The weighted average grant date fair value of stock options issued during the three months ended March 31, 2024 was $1.22 per share. There was no remaining stock compensation expense to be recognized at March 31, 2024 as all options vested immediately upon grant. The weighted average grant date fair value of stock options issued during the year ended September 30, 2023 was $0.57 per share. There was no remaining stock compensation expense to be recognized at September 30, 2023 as all options vested immediately upon grant. During the three months ended March 31, 2023, the Company did not issue stock options. Option Activity <p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zBEBXuadkigc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A summary of cumulative option activity under the 2023 Plan is as follows: SCHEDULE OF CUMULATIVE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Options outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">Number of shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average exercise price per share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Aggregate intrinsic value (in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">Outstanding – September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20231001__20240331_zgqygsZZLW1h" style="width: 12%; text-align: right" title="Number of shares, outstanding, beginning">4,007,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20231001__20240331_zK02sPehKp59" style="width: 12%; text-align: right" title="Weighted average exercise price per share, outstanding, beginning">2.23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20221001__20230930_zEXUYxhNZKch" style="width: 12%; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20231001__20240331_zvkGcoNN8Ct2" style="width: 12%; text-align: right" title="Aggregate intrinsic value, outstanding, beginning">2,004</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Options granted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20231001__20240331_z0Hv5GpVjPFg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, granted">125,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20231001__20240331_zoqZ0moh5Zr8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20231001__20240331_zUWVD6LHfNUk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average contractual term (in years), granted">2.96</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20231001__20240331_zyqeezqcP6H3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value, granted">152</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Outstanding – March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20231001__20240331_zNB3Mfal00Mj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, outstanding, ending">4,132,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20231001__20240331_zPlXHTEmhU4h" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, outstanding, ending">2.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20231001__20240331_zEA1Cg8o3yrb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20231001__20240331_zQl66HiUWCqj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding, ending">2,156</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Vested during the period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20231001__20240331_zLpYIYFQXThg" style="text-align: right" title="Number of shares, outstanding, Vested during the period">125,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageExercisePrice_c20231001__20240331_ziFtMTHOgOMc" style="text-align: right" title="Weighted average exercise price per share, Vested during the period">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240331_zM862gMqhhb9" style="text-align: right" title="Weighted average contractual term (in years), Vested during the period">2.96</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn3n3_c20231001__20240331_z9dtnGEaQfta" style="text-align: right" title="Aggregate intrinsic value, Vested during the period">152</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Vested at end of period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_pid_c20231001__20240331_zJg9zNMXEMQk" style="text-align: right" title="Number of shares, outstanding, Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20231001__20240331_zoaq6w83YXw" style="text-align: right" title="Weighted average exercise price per share, Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm_c20231001__20240331_z50FWvqYymU8" style="text-align: right" title="Weighted average contractual term (in years), Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn3n3_c20231001__20240331_z043duEg6edg" style="text-align: right" title="Aggregate intrinsic value, Vested at end of period">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exercisable at the end of period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20231001__20240331_zd41jy7WjyIk" style="text-align: right" title="Number of shares, outstanding , Exercisable at the end of period">4,132,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20231001__20240331_zTVnKJkdpDda" style="text-align: right" title="Weighted average exercise price per share, Exercisable at the end of period">2.26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240331_zRrytGvCEUA3" style="text-align: right" title="Weighted average contractual term (in years), Exercisable at the end of period">2.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20231001__20240331_zAR4qlkfZSGk" style="text-align: right" title="Aggregate intrinsic value, Exercisable at the end of period">2,156</td><td style="text-align: left"> </td></tr> </table> NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited)

275000000

25000000

0.0001

Common Stock are entitled to one vote per share

10000000

50000

7500000

0.05

375000

2326500

1.00

2326500

1820369

1.00

1820369

778000

2.50

1945000

2106437

360000

822144

3.00

2466437

2000000

2.50

5000000

85000

3370352

1758460

125000

3.00

125000

152457

0.0437

P1Y6M

0.825

2050000

1.50

1450000

200000

3.00

247000

60000

3.00

2050000

584484

0.0419

P1Y6M

0.825

1450000

200000

1444530

0.0421

P1Y6M

0.825

247000

60000

269989

0.0457

P1Y6M

0.825

1.22

0.57

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zBEBXuadkigc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A summary of cumulative option activity under the 2023 Plan is as follows: SCHEDULE OF CUMULATIVE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Options outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">Number of shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average exercise price per share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Aggregate intrinsic value (in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">Outstanding – September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20231001__20240331_zgqygsZZLW1h" style="width: 12%; text-align: right" title="Number of shares, outstanding, beginning">4,007,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20231001__20240331_zK02sPehKp59" style="width: 12%; text-align: right" title="Weighted average exercise price per share, outstanding, beginning">2.23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20221001__20230930_zEXUYxhNZKch" style="width: 12%; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20231001__20240331_zvkGcoNN8Ct2" style="width: 12%; text-align: right" title="Aggregate intrinsic value, outstanding, beginning">2,004</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Options granted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20231001__20240331_z0Hv5GpVjPFg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, granted">125,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20231001__20240331_zoqZ0moh5Zr8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20231001__20240331_zUWVD6LHfNUk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average contractual term (in years), granted">2.96</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20231001__20240331_zyqeezqcP6H3" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value, granted">152</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Outstanding – March 31, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20231001__20240331_zNB3Mfal00Mj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, outstanding, ending">4,132,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20231001__20240331_zPlXHTEmhU4h" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, outstanding, ending">2.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20231001__20240331_zEA1Cg8o3yrb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20231001__20240331_zQl66HiUWCqj" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding, ending">2,156</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Vested during the period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20231001__20240331_zLpYIYFQXThg" style="text-align: right" title="Number of shares, outstanding, Vested during the period">125,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageExercisePrice_c20231001__20240331_ziFtMTHOgOMc" style="text-align: right" title="Weighted average exercise price per share, Vested during the period">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240331_zM862gMqhhb9" style="text-align: right" title="Weighted average contractual term (in years), Vested during the period">2.96</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn3n3_c20231001__20240331_z9dtnGEaQfta" style="text-align: right" title="Aggregate intrinsic value, Vested during the period">152</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Vested at end of period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_pid_c20231001__20240331_zJg9zNMXEMQk" style="text-align: right" title="Number of shares, outstanding, Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20231001__20240331_zoaq6w83YXw" style="text-align: right" title="Weighted average exercise price per share, Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm_c20231001__20240331_z50FWvqYymU8" style="text-align: right" title="Weighted average contractual term (in years), Vested at end of period">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn3n3_c20231001__20240331_z043duEg6edg" style="text-align: right" title="Aggregate intrinsic value, Vested at end of period">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Exercisable at the end of period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20231001__20240331_zd41jy7WjyIk" style="text-align: right" title="Number of shares, outstanding , Exercisable at the end of period">4,132,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20231001__20240331_zTVnKJkdpDda" style="text-align: right" title="Weighted average exercise price per share, Exercisable at the end of period">2.26</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240331_zRrytGvCEUA3" style="text-align: right" title="Weighted average contractual term (in years), Exercisable at the end of period">2.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20231001__20240331_zAR4qlkfZSGk" style="text-align: right" title="Aggregate intrinsic value, Exercisable at the end of period">2,156</td><td style="text-align: left"> </td></tr> </table>

4007000

2.23

P2Y6M14D

2004000

125000

3.00

P2Y11M15D

152000

4132000

2.23

P2Y6M14D

2156000

125000

3.00

P2Y11M15D

152000

4132000

2.26

P2Y25D

2156000

6. RIGHT-OF-USE ASSET AND LEASE LIABILITY As of March 31, 2024, the Company has one long-term operating lease for its corporate headquarters located at 10 Times Square, 30th Floor, New York, New York 10018. Lease components in the Company’s long-term operating lease are accounted for following the guidance in ASC 842 for the capitalization of long-term leases. At March 31, 2024, the lease liability is equal to the present value of the remaining lease payments, discounted using a borrowing rate based on similar debt. Lease activity for the three and six months ended March 31, 2024 and 2023, was as follows: Balance sheet information related to the Company’s leases is presented below: SCHEDULE OF BALANCE SHEET INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Operating leases:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20240331_z2gmod13D63g" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230930_zkBI1r3jOyaa" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zGmjuHHnTUXg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Operating right-of-use asset</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,914,778</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zn82PgaIRp1d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liability, current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280,951</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zYnZ1JYRckZ8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liability, long-term</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,628,591</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> The following provides details of the Company’s lease expense: SCHEDULE OF LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif">Lease cost:</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20240101__20240331_zej7etiqY8Fi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20230331_zKbpx6twvOM5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20231001__20240331_zhoS2RTs9GFg" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20221001__20230331_zlgi7V1BGfR4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Lease cost:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseCost_zPYoLggFUiO" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; width: 40%; text-align: left">Operating lease cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">28,369</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">28,369</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table> Other information related to leases is presented below: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif"></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20240101__20240331_ziA34Snai951" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20230331_zb8OX0nTz2q9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20231001__20240331_zCW5XicsjRTc" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20221001__20230331_zxhFEINJxRm4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif">Cash paid for amounts included in the</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">measurement of lease liabilities:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeasePayments_zo2tl9NosPWl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Operating cash outflows from operating leases</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">33,605</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">33,605</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Weighted-average discount rate – operating lease</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">13.5</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Weighted-average remaining lease term – operating lease (in years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> As of March 31, 2024, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows: SCHEDULE OF EXPECTED ANNUAL MINIMUM LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">For the Years Ended September 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20240331_zXY5eoXwDm7f" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzYal_zgtP3gP5wdn7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: justify">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">100,815</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzYal_zsEGcwgFGxPl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">339,411</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzYal_z6afkcCptj8i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2026</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">418,508</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzYal_z2RFpajp6AYc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">428,971</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzYal_z7F1lHVCKb2e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">439,695</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_maLOLLPzYal_zvgr9yHxWFu4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,306,255</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzYal_maOLLz7eQ_mtLOLLPz3dh_zQXpnjanSoI6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total future minimum lease payments, undiscounted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,033,655</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_maLOLLPz3dh_zHjQR7sCMTUd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Less: Imputed interest for leases in excess of one year</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,124,113</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_mtOLLzf18_maLOLLPz3dh_zDjITH3AknEa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Present value of future minimum lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,909,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_di_maOLLzf18_zvRopPMVPzZ6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Less: Current portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(280,951</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLzf18_zdyqKepaLug3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total lease liabilities less current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,628,591</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NANO NUCLEAR ENERGY INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2024 (Unaudited)

Balance sheet information related to the Company’s leases is presented below: SCHEDULE OF BALANCE SHEET INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Operating leases:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20240331_z2gmod13D63g" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20230930_zkBI1r3jOyaa" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">September 30, 2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zGmjuHHnTUXg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">Operating right-of-use asset</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">1,914,778</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zn82PgaIRp1d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liability, current</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">280,951</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zYnZ1JYRckZ8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating lease liability, long-term</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,628,591</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

1914778

280951

1628591

The following provides details of the Company’s lease expense: SCHEDULE OF LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif">Lease cost:</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20240101__20240331_zej7etiqY8Fi" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20230331_zKbpx6twvOM5" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20231001__20240331_zhoS2RTs9GFg" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20221001__20230331_zlgi7V1BGfR4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Lease cost:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseCost_zPYoLggFUiO" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; width: 40%; text-align: left">Operating lease cost</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">28,369</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">28,369</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table>

28369

Other information related to leases is presented below: SCHEDULE OF OTHER INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif"></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_497_20240101__20240331_ziA34Snai951" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_499_20230101__20230331_zb8OX0nTz2q9" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_491_20231001__20240331_zCW5XicsjRTc" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20221001__20230331_zxhFEINJxRm4" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif">Cash paid for amounts included in the</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Six Months Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">measurement of lease liabilities:</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeasePayments_zo2tl9NosPWl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left">Operating cash outflows from operating leases</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">33,605</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">33,605</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right">—</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left">Weighted-average discount rate – operating lease</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">13.5</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Weighted-average remaining lease term – operating lease (in years)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">7.3</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

33605

0.135

P7Y3M18D

As of March 31, 2024, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows: SCHEDULE OF EXPECTED ANNUAL MINIMUM LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">For the Years Ended September 30,</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_495_20240331_zXY5eoXwDm7f" style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzYal_zgtP3gP5wdn7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: justify">2024</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">100,815</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzYal_zsEGcwgFGxPl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2025</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">339,411</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzYal_z6afkcCptj8i" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2026</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">418,508</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzYal_z2RFpajp6AYc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2027</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">428,971</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_maLOLLPzYal_z7F1lHVCKb2e" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2028</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">439,695</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_maLOLLPzYal_zvgr9yHxWFu4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">Thereafter</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,306,255</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzYal_maOLLz7eQ_mtLOLLPz3dh_zQXpnjanSoI6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total future minimum lease payments, undiscounted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,033,655</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_maLOLLPz3dh_zHjQR7sCMTUd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Less: Imputed interest for leases in excess of one year</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,124,113</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_mtOLLzf18_maLOLLPz3dh_zDjITH3AknEa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Present value of future minimum lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,909,542</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_di_maOLLzf18_zvRopPMVPzZ6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Less: Current portion of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(280,951</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLzf18_zdyqKepaLug3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total lease liabilities less current portion</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,628,591</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

100815

339411

418508

428971

439695

1306255

3033655

1124113

1909542

280951

1628591

7. SUBSEQUENT EVENTS The Company has evaluated all events or transactions that occurred after March 31, 2024 through the date that the condensed consolidated interim financial statements were available to be issued. During this period, there were no material subsequent events requiring disclosure except as stated as follows: On May 7, 2024, the Company consummated a firm commitment underwritten initial public offering (the “Offering”) of an aggregate of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240507__20240507__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z8b75g9vRdi6" title="Number of shares issued">2,562,500 shares of Common Stock at a price of $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20240507__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zcLSz3ePDOif" title="Stock price">4.00 per share (the “Offering Price”), generating gross proceeds of approximately $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20240507__20240507__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zVwOo4RiSae3">10,250,000, and net proceeds (after deducting discounts and offering expenses) of approximately $<span id="xdx_906_ecustom--NetProceedsFromIssuanceInitialPublicOffering_c20240507__20240507__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zg0lvmm4Bdy2">9,000,000. In connection with the Offering, the Company granted the lead managing underwriter an option (the “Over-Allotment Option”), exercisable for 30 days from May 7, 2024, to purchase up to an additional <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240507__20240507__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zjL3udfUKX2f" title="Number of shares issued">384,375 shares of Common Stock (the “Over-allotment Shares”) from the Company at the Offering Price, less the underwriting discount, to cover over-allotments in the Offering. On May 21, 2024, the underwriter of the Offering exercised the Over-Allotment Option in full, and on May 22, 2024, the closing of the purchase of the Over-Allotment Shares occurred, generating gross proceeds to the Company of approximately $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20240522__20240522__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zzinLHWGjpd8" title="Gross proceeds from offering">1,537,500 and net proceeds of approximately $<span id="xdx_901_ecustom--NetProceedsFromIssuanceInitialPublicOffering_c20240522__20240522__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_z8gkSbRbIoEl" title="Net proceeds from offering">1,414,500.

2562500

4.00

10250000

9000000

384375

1537500

1414500

6952795

2129999

205857

117448

7158652

2247447

75000

7233652

2247447

190005

102771

35000

225005

137771

2000000

5000000

0.0001

100000000

0.0001

100000000

23184869

20501500

2000000

2319

2050

2319

2050

9288553

3139450

-7282225

-1031824

2008647

2109676

7233652

2247447

4749395

919520

1534000

140304

6283395

1059824

32994

28000

-6250401

-1031824

-0.28

-0.06

-0.28

-0.06

22389627

16554191

22389627

16554191

20501500

2050

3139450

-1031824

2109676

2000000

5000000

2598369

260

3765109

3765369

85000

2383994

2384003

-6250401

2000000

5000000

23184869

2319

9288553

-7282225

2008647

19826500

1982

2749518

2751500

675000

389932

390000

-1031824

20501500

2050

3139450

-1031824

2109676

20501500

2050

3139450

-1031824

2109676

-6250401

-1031824

2384003

390000

88409

117448

87234

102771

35000

-3867573

-621501

8765369

2751500

75000

8690369

2751500

4822796

2129999

6952795

2129999

<p id="xdx_80B_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_zXMXSOfObbkf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">1. ORGANIZATION AND OPERATIONS AND BASIS OF PRESENTATION NANO Nuclear Energy Inc. (“NANO” or the “Company”) was incorporated under the laws of the state of Nevada on February 8, 2022 (“Inception”) and is headquartered in New York, NY. The Company intends to progress its collaborative research projects towards development, rigs and models, zero-power reactors, and ultimately towards reactor manufacture and deployments. The Company envisions readily replaceable mobile reactors which it can provide to customers, along with operative personnel, to power projects, residential and commercial enterprises, and major development projects. The Company is committed to providing smaller, cheaper, and safer nuclear energy solutions for the future by incorporating the latest technology into its own proprietary novel reactor designs, intellectual properties, research methods and through its subsidiary, HALEU Energy Fuel Inc. The subsidiary will focus on the future development of a domestic source for a High-Assay Low-Enriched Uranium (HALEU) fuel fabrication pipeline for the broader advanced nuclear reactor industry and providing fuel to power the Company’s reactors. Currently in technical development are “ZEUS”, a Solid Core Battery Reactor and “ODIN”, a Low-Pressure Coolant Reactor, representing the Company’s first generation of portable, on-demand capable, advanced nuclear micro reactors. These consolidated financial statements include the accounts of the Company and its wholly-owned legal subsidiaries American Uranium Inc., which was incorporated in Nevada, HALEU Energy Fuel Inc., which was incorporated in Nevada and Advanced Fuel Transportation Inc., which was incorporated in Nevada. Liquidity These consolidated financial statements have been prepared on a going concern basis, which assumes the realization of assets and settlement of liabilities in the normal course of business. At September 30, 2023, the Company had working capital of $6,933,647, net loss of $6,250,401, accumulated deficit of $7,282,225 and negative cash flows from operations of $3,867,573. At September 30, 2022, the Company had working capital of $2,109,676, net loss of $1,031,824, accumulated deficit of $1,031,824 and negative cash flows from operations of $621,501. The application of the going concern concept is dependent on the Company’s ability to receive continued financial support from its stakeholders and, ultimately, on the Company’s ability to generate profitable operations. Management is of the opinion that sufficient working capital is available to meet the Company’s liabilities and commitments as they come due at least for the next twelve months after the date the consolidated financial statements are issued to conform to the going concern uncertainty period. In order to achieve the Company’s long-term strategy, the Company expects to raise additional equity contributions to support its growth. These consolidated financial statements do not reflect any adjustments or reclassifications of assets and liabilities which would be necessary if the Company were unable to continue as a going concern.

6933647

-6250401

-7282225

-3867573

2109676

-1031824

-621501

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of NANO and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 – Quoted prices in active markets for identical instruments. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and accounts payable approximates fair value due to their short maturities. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains its cash balances at a financial institution and such amounts exceeded federally insured limits at September 30, 2023 and 2022. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. Prepaid Expenses Prepaid expenses primarily relate to payments made to consultants and vendors in advance of the service being provided. Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of September 30, 2023 and September 30, 2022, the Company has one short-term operating lease. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term lease relates to office facilities which did not meet the criteria for capitalization as of September 30, 2023 and September 30, 2022. Mezzanine Equity The Company recognized a tranche of common shares as mezzanine equity since those common shares may be redeemed at the option of the holder, but is not mandatorily redeemable. Equity-Based Compensation Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the award vests. Equity-based compensation is recorded as a general and administrative expense in the statements of operations. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Research and Development Research and Development (“R&D”) expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred. Advertising Costs Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $483,500 for the year ended September 30, 2023 and $13,360 for the period from Inception through September 30, 2022. Legal Contingencies The Company is not presently involved in any legal proceedings. The Company records liabilities for losses from legal proceedings when it determines that it is probable that the outcome in a legal proceeding will be unfavorable, and the amount of loss can be reasonably estimated. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when it is “more likely-than-not” that deferred tax assets will not be realized. On a regular basis, the Company evaluates the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment. The Company considers multiple factors in its evaluation of the need for a valuation allowance. The Company’s net deferred tax assets consist of assets related to net operating losses. The Company’s net operating losses and credits have an indefinite life for federal net operating losses (“NOLs”) generated through September 30, 2023. At September 30, 2023 and 2022, the Company has recorded a full valuation allowance on its deferred tax assets in the amount of approximately $1,971,000 and $281,000, respectively. The Company’s deferred tax assets consist primarily of net operating losses and research and development credits. The effective tax rate was 0.0% for both the year ended September 30, 2023 and for the period from February 8, 2022 (Inception) through September 30, 2022. The Company’s effective tax rate for the year ended September 30, 2023 and period ended September 30, 2022 differs from the federal statutory rate of 21% primarily due to a full valuation allowance against its net deferred tax assets where it is more likely than not that the deferred tax assets will not be realized. Until an appropriate level of profitability is attained, the Company expects to maintain a full valuation allowance on its deferred tax assets. Any tax benefits or tax expense recorded on its consolidated statements of operations will be offset with a corresponding valuation allowance until such time that the Company changes its determination related to the realization of deferred tax assets. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such a determination is made. For uncertain tax positions that meet a “more likely-than-not” threshold, the Company recognizes the benefit of uncertain tax positions in the consolidated financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. The Company’s 2023 tax returns remain subject to examination by taxing jurisdictions. At September 30, 2023 and 2022, the Company does not believe it has any uncertain tax positions that would require either recognition or disclosure in the accompanying consolidated financial statements. Net Loss per Share Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding plus the effect of dilutive potential shares of common stock outstanding during the period. During the periods when there is a net loss, potentially dilutive shares of common stock are excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. During the year ended September 30, 2023, there were no dilutive shares issued or outstanding. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Operating Segments For the year ended September 30, 2023, the Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. Furthermore, the Company determined that the Company’s Chairman and President is the Chief Operating Decision Maker as he is responsible for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and managing the organization as a whole. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the FASB. There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current consolidated financial statements.

Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of NANO and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 – Quoted prices in active markets for identical instruments. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and accounts payable approximates fair value due to their short maturities.

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash. The Company maintains its cash balances at a financial institution and such amounts exceeded federally insured limits at September 30, 2023 and 2022. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

Prepaid Expenses Prepaid expenses primarily relate to payments made to consultants and vendors in advance of the service being provided.

Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of September 30, 2023 and September 30, 2022, the Company has one short-term operating lease. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term lease relates to office facilities which did not meet the criteria for capitalization as of September 30, 2023 and September 30, 2022.

Mezzanine Equity The Company recognized a tranche of common shares as mezzanine equity since those common shares may be redeemed at the option of the holder, but is not mandatorily redeemable.

Equity-Based Compensation Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the award vests. Equity-based compensation is recorded as a general and administrative expense in the statements of operations. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Research and Development Research and Development (“R&D”) expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred.

Advertising Costs Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $483,500 for the year ended September 30, 2023 and $13,360 for the period from Inception through September 30, 2022.

483500

13360

Legal Contingencies The Company is not presently involved in any legal proceedings. The Company records liabilities for losses from legal proceedings when it determines that it is probable that the outcome in a legal proceeding will be unfavorable, and the amount of loss can be reasonably estimated.

Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded when it is “more likely-than-not” that deferred tax assets will not be realized. On a regular basis, the Company evaluates the recoverability of deferred tax assets and the need for a valuation allowance. Such evaluations involve the application of significant judgment. The Company considers multiple factors in its evaluation of the need for a valuation allowance. The Company’s net deferred tax assets consist of assets related to net operating losses. The Company’s net operating losses and credits have an indefinite life for federal net operating losses (“NOLs”) generated through September 30, 2023. At September 30, 2023 and 2022, the Company has recorded a full valuation allowance on its deferred tax assets in the amount of approximately $1,971,000 and $281,000, respectively. The Company’s deferred tax assets consist primarily of net operating losses and research and development credits. The effective tax rate was 0.0% for both the year ended September 30, 2023 and for the period from February 8, 2022 (Inception) through September 30, 2022. The Company’s effective tax rate for the year ended September 30, 2023 and period ended September 30, 2022 differs from the federal statutory rate of 21% primarily due to a full valuation allowance against its net deferred tax assets where it is more likely than not that the deferred tax assets will not be realized. Until an appropriate level of profitability is attained, the Company expects to maintain a full valuation allowance on its deferred tax assets. Any tax benefits or tax expense recorded on its consolidated statements of operations will be offset with a corresponding valuation allowance until such time that the Company changes its determination related to the realization of deferred tax assets. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such a determination is made. For uncertain tax positions that meet a “more likely-than-not” threshold, the Company recognizes the benefit of uncertain tax positions in the consolidated financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. The Company’s 2023 tax returns remain subject to examination by taxing jurisdictions. At September 30, 2023 and 2022, the Company does not believe it has any uncertain tax positions that would require either recognition or disclosure in the accompanying consolidated financial statements.

1971000

281000

0.000

0.21

Net Loss per Share Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding plus the effect of dilutive potential shares of common stock outstanding during the period. During the periods when there is a net loss, potentially dilutive shares of common stock are excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. During the year ended September 30, 2023, there were no dilutive shares issued or outstanding. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Operating Segments For the year ended September 30, 2023, the Company was managed as a single operating segment in accordance with the provisions in the Financial Accounting Standards Board (“FASB”) guidance on segment reporting, which establishes standards for, and requires disclosure of, certain financial information related to reportable operating segments and geographic regions. Furthermore, the Company determined that the Company’s Chairman and President is the Chief Operating Decision Maker as he is responsible for making decisions regarding the allocation of resources and assessing performance as well as for strategic operational decisions and managing the organization as a whole.

Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates issued by the FASB. There are no accounting pronouncements which have been issued but are not yet effective that would have a material impact on our current consolidated financial statements.

3. OTHER INCOME During the year ended September 30, 2023, the Company earned interest income of $32,994 on its cash held at a financial institution. During the period from Inception through September 30, 2022, the Company was awarded a grant for 200 hours of subject matter expert support at Idaho National Laboratory (“INL”) as part of the National Reactor Innovation Center (“NRIC”) Resource Team program which amounted to $28,000. NRIC is a national U.S. Department of Energy program led by the INL, allowing collaborators to harness the world-class capabilities of the U.S. National Laboratory System. All amounts related to this grant have been earned as of September 30, 2022.

32994

28000

4. RELATED PARTIES At September 30, 2023 and September 30, 2022 the Company had amounts due to related parties of $35,000 and $35,000, respectively. These amounts corresponded to unpaid amounts due to officers and directors for services rendered during the year ended September 30, 2023 and for the period from Inception through September 30, 2022. During the year ended September 30, 2023, the Company incurred consulting fees of $225,000 to its President and Chairman, $90,000 to its Chief Executive Officer, $90,000 to its Chief Financial Officer, $25,000 to its Chief Policy Officer, and incurred total directors’ fees of $25,000 to three independent directors, which was included in the consolidated statement of operation under general and administrative expenses. During the period from Inception through September 30, 2022, the Company incurred consulting fees of $80,000 to its President and Chairman, $15,000 to its Chief Executive Officer, $30,000 to its Chief Financial Officer, $10,000 to its Chief Policy Officer, and incurred directors’ fees of $5,000 to one independent director, which is included in the consolidated statements of operations under general and administrative expenses.

35000

225000 90000 90000 25000

25000

80000 15000 30000 10000

5000

5. EQUITY The Company is authorized to issue 100,000,000 shares of common stock, with a par value of $0.0001 per share, and 100,000,000 shares of preferred stock, with a par value of $0.0001 per share. Holders of common stock are entitled to one vote per share. Issuance of Common Stock for Cash Incorporation Upon incorporation of the Company, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--FounderAndPresidentMember_zPuUZ9BRLPbf" title="Number of shares issued">10,000,000 shares of common stock were issued to the Company’s founder and president for proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--FounderAndPresidentMember_zSYd8EaVOxtl" title="Net proceeds">50,000. Seed Round The Seed Round began in March 2022 and ended in April 2022. During the period from Inception through September 30, 2022, the Company sold <span id="xdx_908_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zZdcUBG15ofb" title="Sale of stock">7,500,000 shares of common stock at a price of $<span id="xdx_901_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zX9AikscMME5" title="Sale of stock price per share">0.05 per share for proceeds of $<span id="xdx_904_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeedRoundMember_zdpJlEl8G0U2" title="Proceeds for sale of stock">375,000 as part of the Company’s Seed Round. Angel Round The Angel Round began in April 2022 and ended in February 2023. During period from Inception to September 30, 2022, the Company sold <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zI613bj9MOKa" title="Sale of stock">2,326,500 shares of common stock at a price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_z4UnQN6Zbxcc" title="Sale of stock price per share">1.00 per share for proceeds of $<span id="xdx_902_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zvzhQGU5AeQa" title="Proceeds for sale of stock">2,326,500 as part of the Company’s Angel Round. During the year ended September 30, 2023, the Company sold <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zEnHOejGCGTg" title="Sale of stock">1,820,369 shares of common stock at a price of $<span id="xdx_902_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zrmTtnTijvj1" title="Sale of stock price per share">1.00 per share for proceeds of $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AngelRoundMember_zdkAAlDgd3b9" title="Proceeds for sale of stock">1,820,369 as part of the Company’s Angel Round. 5. EQUITY (Continued) Issuance of Common Stock for Cash (Continued) Series A Round The Series A Round began in April 2023 and ended in June 2023. During the year ended September 30, 2023, the Company sold <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zdq1pdbV3iP6" title="Sale of stock">778,000 shares of common stock at a price of $<span id="xdx_900_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zffdk6Q1V7ce" title="Sale of stock price per share">2.50 per share for proceeds of $<span id="xdx_90B_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesARoundMember_zpb0mUyP6nVb" title="Proceeds from sale of stock">1,945,000 as part of the Company’s Series A Round. Series B Round Subsequent to September 30, 2023, the Company sold <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20231001__20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zy7r1NSpFNl8" title="Sale of stock">822,144 common shares at a price of $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zIrden4cU1rj" title="Sale of stock price per share">3.00 per common share for gross proceeds of $<span id="xdx_903_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20231001__20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--SeriesBRoundMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zB1biXuPUqWe" title="Proceeds from sale of stock">2,466,437 in the Series B Round. The Series B Round was completed in January 2024. Mezzanine Equity Pursuant to the terms of a subscription agreement (the “Agreement”) signed by the Company during the year ended September 30, 2023, a subscriber (the “Subscriber”) purchased 2,000,000 shares of common stock (the “Shares”) for $<span id="xdx_90F_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zEGUZ8dl1nx5" title="Mezzanine equity, price per share">2.50 per share or $<span id="xdx_906_eus-gaap--TemporaryEquityCarryingAmountAttributableToParent_iI_c20230930__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_z6Se4GW2o8E8" title="Mezzanine equity, purchase price">5,000,000 (the “Purchase Price”). The Agreement includes a put right which entitles the Subscriber to elect to sell to the Company any part or all of the Shares acquired by the Subscriber under this Agreement (the “Put Shares”) if: (a) the Company’s initial public offering registration statement (“IPO Registration Statement”) is not declared effective by the Securities and Exchange Commission (“SEC”) by December 31, 2023; (b) the Company commits a material breach of the Agreement and either that breach is not capable of being remedied or, if capable of remedy, the Company does not remedy that breach as soon as possible and in any event within 30 business days of its receipt of a notice from the Subscriber requiring the Company to remedy that breach. In the event the Subscriber elects to exercise its right to sell or put the shares to the Company (the “Put Option”), the Subscriber shall deliver a written notice to the Company specifying the number of shares that the Subscriber wishes to sell, and the Company shall be required to purchase from the Subscriber the Put Shares at a price per share equal to the original Purchase Price or $<span id="xdx_90F_eus-gaap--TemporaryEquityRedemptionPricePerShare_iI_pid_c20230930__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zJQLVZwDeto7" title="Mezzanine equity, price per share">2.50 per share. The closing of the Put Shares pursuant to the above shall take place no later than 15 days following the receipt of such notice from the Subscriber payable in cash. ASC 480-10-S99-3A provides guidance on the classification and measurement of redeemable securities, which requires classification in temporary equity of securities redeemable for cash or other assets if they are redeemable under certain conditions. One of these conditions is the occurrence of an event that is not solely within the control of the issuer. This condition is applicable as the Subscriber can exercise the Put Option and require the Company to redeem the shares of common stock if the Company’s IPO Registration Statement is not declared effective by the SEC by December 31, 2023. This process involves a significant number of third parties and the SEC’s declaration of effectiveness. Therefore, this contingently redeemable feature is not considered to be within the control of the Company and is classified within Mezzanine Equity on the accompanying consolidated balance sheet at September 30, 2023. As of January 30, 2024, the Subscriber has not exercised the Put Option. Equity-Based Compensation Issuance of Common Stock for Consulting fees During the year ended September 30, 2023, the Company issued to two consultants an aggregate of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--TwoConsultantsMember_zLKV05PmWws" title="Number of shares issued">85,000 shares of common stock with an aggregate fair value of $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--TwoConsultantsMember_zbnorfXwFP31" title="Number of shares issued, value">85,000, which represents equity-based compensation and is recorded within operating expenses. During the period ended September 30, 2022, the Company issued to various consultants an aggregate of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_pid_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zPXEdSztnLck" title="Number of shares issued">675,000 shares of common stock with an aggregate fair value of $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20220208__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zaypuXmQPzrb" title="Number of shares issued, value">390,000, which represents equity-based compensation and is recorded within operating expenses. The fair value of shares is determined by the value of services rendered as indicated in the corresponding consulting agreements and by reference to recent cash sales of common stock to third parties. Stock Based Compensation On February 10, 2023, the Company adopted the 2023 Stock Incentive Plan which provides for the grant of incentive stock options and non-qualified stock options to purchase a maximum of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueShareBasedCompensation_c20230210__20230210__us-gaap--PlanNameAxis__custom--TwentyTwentyThreeStockIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_zNP6daXNPod5" title="Stock based compansation">4,974,760 shares of the Company’s common stock and other types of awards. The exercise price, vesting and expiry date is determined for each grant by the board of directors or a committee appointed by the board of directors. During the year ended September 30, 2023, the Company issued <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zJ3MNxphnjMh" title="Stock options vested number of shares">2,050,000 fully vested stock options exercisable at $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zXOBhucdXsF" title="Vested stock options exercisable">1.50 per common share with expiry on February 10, 2026, issued <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zQMuIA0ODC0d" title="Stock options vested number of shares">1,650,000 fully vested stock options exercisable at $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_z6u8urP4gqs5" title="Vested stock options exercisable">3.00 per common share with expiry on June 7, 2026, and issued <span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zbfSAxMrglYi" title="Stock options vested number of shares">307,000 fully vested stock options exercisable at $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zcpdiHDf1P9g" title="Vested stock options exercisable">3.00 per common share with expiry on August 30, 2026. The <span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zl3fqhxY6Gb7" title="Stock options vested number of shares">2,050,000 options were valued at $<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zZY2DUTLYxQ8" title="Stock options vested number of shares, value">584,484 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zh8ujPIGsd76" title="Risk-free interest rate">4.19%; expected life of options: <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z3n7vdrsd3t6" title="Expected life of options">1.5 years; estimated volatility: <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_ziBtWvqZ8zu" title="Estimated volatility">82.5%; dividend rate: <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zFd7c5cnKdna" title="Dividend rate">0%). The <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zSkh0gXmiFlh" title="Stock options vested number of shares">1,650,000 options were valued at $<span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zSylvbe3MXf2" title="Stock options vested number of shares, value">1,444,530 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zaSRwvjJ51zc" title="Risk-free interest rate">4.21%; expected life of options: <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zdBzi5TRO2Y5" title="Expected life of options">1.5 years; estimated volatility: <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zMch9URx4Bc1" title="Estimated volatility">82.5%; dividend rate: <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zuEPjJ7P4jmh" title="Dividend rate">0%). The <span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_z6gajx3esvma" title="Stock options vested number of shares">307,000 options were valued at $<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanOneMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zcoxajzGjeJ6" title="Stock options vested number of shares, value">269,989 based on a Black-Scholes valuation with the following assumptions (Risk-free interest rate: <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zMkTkAmUlINb" title="Risk-free interest rate">4.57%; expected life of options: <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zOxKjM6kjYpk" title="Expected life of options">1.5 years; estimated volatility: <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_z0DBzokReyvi" title="Estimated volatility">82.5%; dividend rate: <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20221001__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--TwentyTwentyThreeStockOptionPlanTwoMember__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zDsLqKGspa4g" title="Dividend rate">0%). 5. EQUITY (Continued) Equity-Based Compensation (Continued) Stock Based Compensation (Continued) During the year ended September 30, 2023, the Company’s assumptions utilized in the Black-Scholes valuation were the following: 1) stock price based on recent sales of common stock to unrelated parties; 2) estimated the volatility of its underlying stock by using an average of the historical volatility of a group of comparable publicly traded companies; 3) expected dividend yield was calculated using historical dividend amounts; 4) risk-free rate is based on the United States Treasury yield curve in effect at the time of the grant; 5) expected term was estimated based on the vesting and contractual term of the stock option grant. The weighted average grant date fair value of stock options issued during the year ended September 30, 2023 was $<span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20221001__20230930_zm2h8USeFImg" title="Weighted average fair value of stock options">0.57 per share. There was no remaining stock compensation expense to be recognized at September 30, 2023 as all options vested immediately upon grant. For the year ended September 30, 2023, $1,963,440 was recorded within general and administrative expenses and $420,563 was recorded within research and development expenses. During the period from Inception through September 30, 2022, the Company did not issue stock options. Option Activity <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z5xIJ1HKwn1l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">A summary of cumulative option activity under the 2023 Plan is as follows: SCHEDULE OF CUMULATIVE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Options outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Number of</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">exercise price</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">contractual term</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">intrinsic value</td><td style="white-space: nowrap; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">per share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding – September 30, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20221001__20230930_zV1FCunQgC8b" style="text-align: right" title="Number of shares, outstanding, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20221001__20230930_zL3MqBPd91P8" style="text-align: right" title="Weighted average exercise price per share, outstanding, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_c20220208__20220930_zjB5YvVvzwlc" style="text-align: right" title="Weighted average contractual term (in years), outstanding">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20221001__20230930_z09n4g8WnhDd" style="text-align: right" title="Aggregate intrinsic value, outstanding, beginning">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Options granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z1rdYS8KKwnb" style="width: 12%; text-align: right" title="Number of shares, granted">2,050,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zFqTKejS8hTd" style="width: 12%; text-align: right" title="Weighted average exercise price per share, granted">1.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zCb5JuXO7RDa" style="width: 12%; text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zeuoqKf0a8Zi" style="width: 12%; text-align: right" title="Aggregate intrinsic value, granted">1,025</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zDlZHuK0pKii" style="text-align: right" title="Number of shares, granted">1,650,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zKjKu2sacV44" style="text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zy8fnEXwMkb6" style="text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zLKf2vNlmPQ" style="text-align: right" title="Aggregate intrinsic value, granted">825</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Options granted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zMKCiQaFnwQg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, granted">307,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zlgi7XkVElpj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zDolKBxhXjri" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zEFQKBfpFWih" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value, granted">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding – September 30, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20221001__20230930_zm9dYzNb9img" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, outstanding, ending balance">4,007,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20221001__20230930_z3EtdiuXzzz1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, outstanding, ending balance">2.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20221001__20230930_z8NGGnr2wP5e" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20221001__20230930_zmPls1MfcUNd" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding, beginning">2,004</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested during the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930_zIKauaavknIg" style="text-align: right" title="Number of shares, outstanding, Vested">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageExercisePrice_c20221001__20230930_zf49hW6fa2S7" style="text-align: right" title="Weighted average exercise price per share, vested">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20220208__20220930_zZSOlbObrI3e" style="text-align: right" title="Weighted average contractual term (in years), Vested during the period">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn3n3_c20221001__20230930_zZW833tyJtyg" style="text-align: right" title="Aggregate intrinsic value, Vested during the period">2,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vested at end of year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_pid_c20221001__20230930_zdoHIWZT3Kc4" style="text-align: right" title="Number of shares, outstanding, vested">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20221001__20230930_zvzrGYTRbHri" style="text-align: right" title="Weighted average exercise price per share, vested">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm_dtY_c20221001__20230930_zsBhL0gBedFj" style="text-align: right" title="Weighted average contractual term (in years), Vested at end of period">2.54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn3n3_c20221001__20230930_zWbxetFQxVPd" style="text-align: right" title="Aggregate intrinsic value, Vested at end of period">2,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercisable at the end of the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20221001__20230930_zgSF6gATFC45" style="text-align: right" title="Number of shares, outstanding , Exercisable at the end of period">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20221001__20230930_zHWb9AsZaFHg" style="text-align: right" title="Weighted average exercise price per share, Exercisable at the end of period">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20221001__20230930_zFWvv5D5yArh" style="text-align: right" title="Weighted average contractual term (in years), Exercisable at the end of period">2.54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20221001__20230930_zmsfYXRqr1Mj" style="text-align: right" title="Aggregate intrinsic value, Exercisable at the end of period">2,004</td><td style="text-align: left"> </td></tr> </table>

100000000

0.0001

100000000

0.0001

10000000

50000

7500000

0.05

375000

2326500

1.00

2326500

1820369

1.00

1820369

778000

2.50

1945000

822144

3.00

2466437

2000000

2.50

5000000

2.50

85000

675000

390000

4974760

2050000

1.50

1650000

3.00

307000

3.00

2050000

584484

0.0419

P1Y6M

0.825

1650000

1444530

0.0421

P1Y6M

0.825

307000

269989

0.0457

P1Y6M

0.825

0.57

1963440

420563

<p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z5xIJ1HKwn1l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white">A summary of cumulative option activity under the 2023 Plan is as follows: SCHEDULE OF CUMULATIVE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Options outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">Number of</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">exercise price</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">contractual term</td><td style="white-space: nowrap; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">intrinsic value</td><td style="white-space: nowrap; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">per share</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding – September 30, 2022</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20221001__20230930_zV1FCunQgC8b" style="text-align: right" title="Number of shares, outstanding, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20221001__20230930_zL3MqBPd91P8" style="text-align: right" title="Weighted average exercise price per share, outstanding, beginning balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_c20220208__20220930_zjB5YvVvzwlc" style="text-align: right" title="Weighted average contractual term (in years), outstanding">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20221001__20230930_z09n4g8WnhDd" style="text-align: right" title="Aggregate intrinsic value, outstanding, beginning">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: left">Options granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_z1rdYS8KKwnb" style="width: 12%; text-align: right" title="Number of shares, granted">2,050,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zFqTKejS8hTd" style="width: 12%; text-align: right" title="Weighted average exercise price per share, granted">1.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zCb5JuXO7RDa" style="width: 12%; text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnFebruaryTenTwoThousandTwentySixMember_zeuoqKf0a8Zi" style="width: 12%; text-align: right" title="Aggregate intrinsic value, granted">1,025</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Options granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zDlZHuK0pKii" style="text-align: right" title="Number of shares, granted">1,650,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zKjKu2sacV44" style="text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zy8fnEXwMkb6" style="text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnJuneSevenTwoThousandTwentySixMember_zLKf2vNlmPQ" style="text-align: right" title="Aggregate intrinsic value, granted">825</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Options granted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zMKCiQaFnwQg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of shares, granted">307,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zlgi7XkVElpj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average exercise price per share, granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--SharebasedCompensationArrangementBySharebasedPaymentOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zDolKBxhXjri" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average contractual term (in years), granted">3.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue_pn3n3_c20221001__20230930__us-gaap--AwardDateAxis__custom--ExpiredOnAugustThirtyTwoThousandTwentySixMember_zEFQKBfpFWih" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value, granted">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding – September 30, 2023</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20221001__20230930_zm9dYzNb9img" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of shares, outstanding, ending balance">4,007,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20221001__20230930_z3EtdiuXzzz1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price per share, outstanding, ending balance">2.23</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20221001__20230930_z8NGGnr2wP5e" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average contractual term (in years), outstanding">2.54</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20221001__20230930_zmPls1MfcUNd" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding, beginning">2,004</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vested during the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_pid_c20221001__20230930_zIKauaavknIg" style="text-align: right" title="Number of shares, outstanding, Vested">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestWeightedAverageExercisePrice_c20221001__20230930_zf49hW6fa2S7" style="text-align: right" title="Weighted average exercise price per share, vested">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_dtY_c20220208__20220930_zZSOlbObrI3e" style="text-align: right" title="Weighted average contractual term (in years), Vested during the period">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pn3n3_c20221001__20230930_zZW833tyJtyg" style="text-align: right" title="Aggregate intrinsic value, Vested during the period">2,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Vested at end of year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iE_pid_c20221001__20230930_zdoHIWZT3Kc4" style="text-align: right" title="Number of shares, outstanding, vested">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_iE_c20221001__20230930_zvzrGYTRbHri" style="text-align: right" title="Weighted average exercise price per share, vested">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm_dtY_c20221001__20230930_zsBhL0gBedFj" style="text-align: right" title="Weighted average contractual term (in years), Vested at end of period">2.54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iE_pn3n3_c20221001__20230930_zWbxetFQxVPd" style="text-align: right" title="Aggregate intrinsic value, Vested at end of period">2,004</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercisable at the end of the year</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20221001__20230930_zgSF6gATFC45" style="text-align: right" title="Number of shares, outstanding , Exercisable at the end of period">4,007,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20221001__20230930_zHWb9AsZaFHg" style="text-align: right" title="Weighted average exercise price per share, Exercisable at the end of period">2.23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20221001__20230930_zFWvv5D5yArh" style="text-align: right" title="Weighted average contractual term (in years), Exercisable at the end of period">2.54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20221001__20230930_zmsfYXRqr1Mj" style="text-align: right" title="Aggregate intrinsic value, Exercisable at the end of period">2,004</td><td style="text-align: left"> </td></tr> </table>

2050000

1.50

P3Y

1025000

1650000

3.00

P3Y

825000

307000

3.00

P3Y

154000

4007000

2.23

P2Y6M14D

2004000

4007000

2.23

P3Y

2004000

4007000

2.23

P2Y6M14D

2004000

4007000

2.23

P2Y6M14D

2004000

6. SUBSEQUENT EVENTS The Company has evaluated all events or transactions that occurred after September 30, 2023 through January 30, 2024, which is the date that the consolidated financial statements were available to be issued. During this period, there were no material subsequent events requiring disclosure except as stated as follows: Subsequent to September 30, 2023, the Company sold <span id="xdx_90C_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20231001__20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zI3mXuSvGQA3" title="Sale of stock">822,144 common shares at a price of $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zWpMm5O5Z7O3" title="Sale of stock, price per share">3.00 per common share for gross proceeds of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20231001__20240704__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zimbNK7S0DDb" title="Gross proceeds from sale of stock">2,466,437.

822144

3.00

2466437