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Note 10 - Commitments and Contingencies
12 Months Ended
Sep. 30, 2024
Notes  
Note 10 - Commitments and Contingencies

Note 10 – Commitments and Contingencies

 

Operating Lease Commitments. The Company rents office space under an operating lease that terminates on June 30, 2025. See Note 5 above.

 

Purchase Commitments. The Company has no purchase obligations at September 30, 2024, and September 30, 2023.

 

Significant Risks and Uncertainties. Concentration of Credit Risk - Cash - The Company maintains cash and cash equivalent balances in financial institutions that are insured by the SIPC, financial institutions that are insured by the FDIC, and that are held directly by the United States Treasury. Should the SIPC, the FIDC, or the United States government go bankrupt or fail to honor their obligations, these balances could be lost. Concentration of Credit Risk - Accounts Receivable and Revenues - For the periods presented, approximately 80% of the Company's outstanding accounts receivable and revenues were transacted with one party.

 

Legal Matters. During the course of business, litigation commonly occurs. From time to time, the Company may be a party to litigation matters involving claims against the Company. The Company operates in a highly regulated industry and employs personnel, which may inherently lend itself to legal matters. Management is aware that litigation has associated costs and that results of adverse litigation verdicts could have a material effect on the Company's

financial position or results of operations. There are no known legal proceedings against the Company or its officers and directors in their capacity as officers and directors of the Company.