v3.25.1
Note 7 - Debt (Tables)
6 Months Ended
Mar. 31, 2025
Notes Tables  
Schedule of Debt [Table Text Block]

Changes in debt during the 6 months ended March 31, 2025

 

Bollinger loan

  

Senior Secured Convertible Notes

  

Total

 

Principal as of October 1, 2024

 $-  $20,346,283  $20,346,283 

Original interest discount as of October 1, 2024

     (17,664,310)  (17,664,310)

Carrying amount as of October 1, 2024

     2,681,973   2,681,973 
             

Notes issued, principal

  10,000,000   35,345,500   45,345,500 

Original interest discount and debt issuance costs at inception

     (35,345,500)  (35,345,500)

Amortization of original interest discount and debt issuance costs

     7,962,228   7,962,228 

Paid in cash

         

Principal converted

     (24,781,552)  (24,781,552)

Original interest discount related to the principal converted

     16,064,397   16,064,397 

Other adjustments

         
             

Principal as of March 31, 2025

  10,000,000   30,910,231   40,910,231 

Original interest discount as of March 31, 2025

     (28,983,185)  (28,983,185)

Carrying amount as of March 31, 2025

 $10,000,000  $1,927,046  $11,927,046 

Including presented as current liability

  10,000,000   1,927,046   11,927,046 

Including presented as noncurrent liability

         
             

Fair value - amount

 $10,000,000  $-    

Fair value - leveling

 

Level 3

  

Level 3

    
             

Contractual interest rate

  15%  15%   

Maturity

 

Due (default)

  

April - July 2025

    

Debt outstanding as of September 30, 2024

 

Matured loans and advances

  

Senior convertible notes

  

Total

 

Issued

 

Before 2022

  

May 2024 - September 2024

    
             

Principal amount

 $2,717,804  $20,346,283  $23,064,087 

Unamortized debt discount and issuance costs

  -   (17,664,310)  (17,664,310)

Net carrying amount, current liability

  2,717,804   2,681,973   5,399,777 

Net carrying amount, noncurrent liability

        - 

Total net carrying amount

 $2,717,804  $2,681,973  $5,399,777 
             

Fair value - amount

 $1,805,000  $17,700,000  $19,505,000 

Fair value - leveling

 

Level 3

  

Level 3

    
             

Interest Rate

  10% 

20% (default)

    

Maturity

 

Due

  

Due

    

Conversion price floor (not subject to reverse stock splits)

  n/a  $1.16    

Investments

 

Principal issued, USD

 

Maturity date

 

Conversion price floor, USD

  

Remaining principal on March 31, 2025

 

Securities Purchase Agreement dated May 14, 2024

 $621,053 

February, 2025

 $1.16  $2,619 

Investments #1 pursuant to May 2024 Securities Purchase Agreement

  4,629,711 

April 2025

  1.16   2,064,322 

Investments #2 pursuant to May 2024 Securities Purchase Agreement

  4,210,526 

April 2025

  0.21   4,210,526 

Investments #3 pursuant to May 2024 Securities Purchase Agreement

  5,263,158 

April 2025

  1.16   4,011,712 

Securities Purchase Agreement dated January 23, 2025

  6,315,789 

May 2025

  0.08   6,315,789 

Securities Purchase Agreement dated February 5, 2025

  3,147,368 

June 2025

  0.05   3,147,368 

Investments #4 pursuant to May 2024 Securities Purchase Agreement

  1,578,947 

June 2025

  1.03   1,578,947 

Investments #1 pursuant to January 2025 Securities Purchase Agreement

  526,316 

June 2025

  0.08   526,316 

Securities Purchase Agreement dated March 6, 2025

  4,000,000 

July 2025

  0.37   4,000,000 

Investments #5 pursuant to May 2024 Securities Purchase Agreement

  1,578,947 

July 2025

  0.07   1,578,947 

Investments #1 pursuant to March 2025 Securities Purchase Agreement

  1,168,421 

July 2025

  0.37   1,168,421 

Investments #1 pursuant to February 2025 Securities Purchase Agreement

  726,316 

July 2025

  0.05   726,316 

Investments #6 pursuant to May 2024 Securities Purchase Agreement

  1,578,948 

July 2025

  0.03   1,578,948 

Total

 $35,345,500       $30,910,231 
Schedule of Maturities of Long-Term Debt [Table Text Block]
  

Year Ended September 30,

 
  

2025 (6 months)

  

2026

  

2027

  

2028

  

2029

  

Total

 

Total Debt due (excluding debt discount)

 $40,910,231  $  $  $  $  $40,910,231