SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
Mar. 31, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES |
See below for estimated useful
lives:
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Loop Players | |
3 years |
| Equipment | |
3-5 years |
| Software | |
3 years |
|
| SCHEDULE OF DISAGGREGATION OF REVENUE |
The following table disaggregates
our revenue by major type for each of the periods indicated:
SCHEDULE OF DISAGGREGATION OF REVENUE
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
Three Months Ended March 31, | | |
Six Months Ended March 31, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Advertising revenue | |
$ | 1,361,139 | | |
$ | 3,544,992 | | |
$ | 4,764,585 | | |
$ | 12,939,756 | |
| Legacy and other revenue | |
| 319,776 | | |
| 457,471 | | |
| 647,054 | | |
| 1,233,963 | |
| Total | |
$ | 1,680,916 | | |
$ | 4,002,463 | | |
$ | 5,411,639 | | |
$ | 14,173,719 | |
| Revenue | |
$ | 1,680,916 | | |
$ | 4,002,463 | | |
$ | 5,411,639 | | |
$ | 14,173,719 | |
|
| SCHEDULE OF ANTI-DILUTIVE SECURITIES |
The following securities are excluded
from the calculation of weighted average diluted shares at March 31, 2025, and September 30, 2024, respectively, because their inclusion
would have been anti-dilutive.
SCHEDULE OF ANTI-DILUTIVE SECURITIES
| | |
March 31, | | |
September 30, | |
| | |
2025 | | |
2024 | |
| Options to purchase common stock | |
| 5,808,442 | | |
| 7,674,756 | |
| Warrants to purchase common stock | |
| 4,745,475 | | |
| 4,782,216 | |
| Restricted Stock Units (RSUs) | |
| 2,114,491 | | |
| 4,163,270 | |
| Convertible debentures | |
| 5,538,162 | | |
| — | |
| Series A preferred stock | |
| — | | |
| — | |
| Series B preferred stock | |
| — | | |
| — | |
| Total common stock equivalents | |
| 18,206,570 | | |
| 16,620,242 | |
|
| SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE |
For the three and six months ended
March 31, 2025, and 2024, a reconciliation of the numerator and denominator used in the calculation
of basic and diluted net loss per share of our common stock is as follows:
SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE
| | |
Three Months Ended March 31, | | |
Six Months Ended March 31, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Numerator: | |
| | |
| | |
| | |
| |
| Net loss | |
$ | (4,233,653 | ) | |
$ | (7,570,633 | ) | |
$ | (8,773,874 | ) | |
$ | (12,856,035 | ) |
| Plus: Deemed dividend on warrants | |
| — | | |
| — | | |
| — | | |
| (419,939 | ) |
| Net loss attributable to common stockholders | |
$ | (4,233,653 | ) | |
$ | (7,570,633 | ) | |
$ | (8,773,874 | ) | |
$ | (13,275,974 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Denominator: | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of common shares outstanding | |
| 93,759,525 | | |
| 71,010,998 | | |
| 94,279,620 | | |
| 68,887,644 | |
| | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted net loss per common share | |
| (0.05 | ) | |
| (0.11 | ) | |
$ | (0.09 | ) | |
$ | (0.19 | ) |
|