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Note 5 - Leases
12 Months Ended
Sep. 30, 2025
Notes  
Note 5 - Leases

Note 5 - Leases. The Company rents office space under an operating lease that terminates on June 30, 2030. The Company incurred lease cost of $34,000 in 2025 and $32,000 in 2024. The Company may cancel the lease upon 30 days' notice and the payment of a $4,000 termination fee. If the landlord sells the premises to an unrelated third party, the new landlord may reduce the term to one year from the date of purchase. If the lease is not terminated prior to June 30, 2030, required minimum payments are $38,400 for years 2026 through 2029, and $28,800 for 2030. The landlord may increase annual rent no more than CPI. On October 1, 2019, the Company adopted Financial Accounting Standards Board (FASB) ASC 842, “Leases.” At September 30, 2025, the adoption of ASC 842 resulted in the recognition of a right-of-use asset and a corresponding lease liability of $166,000.