Mezzanine Equity (Details Narrative) |
6 Months Ended |
---|---|
Mar. 31, 2025
$ / shares
shares
| |
Preferred stock, par value | $ 0.001 |
Conversion of stock shares issued | shares | 8,340,000 |
Series B Preferred Stock [Member] | |
Preferred stock, par value | $ 1.00 |
Conversion price | $ 0.04 |
Conversion shares converted | shares | 333,600 |
Common stock, terms of conversion | No holder is permitted to convert its shares of Series B Preferred if such conversion would cause the holder to beneficially own more than 4.99% of the issued and outstanding common stock of the Company immediately after such conversion, unless waived by such holder by providing at least sixty-five days’ notice. |
Conversion of stock description | Upon the liquidation or dissolution of the Company, or any merger or sale of all or substantially all of the assets, or upon a change in control whereby a stockholder gains control of 50% or more of the outstanding shares of common stock, the shares of Series B Preferred are entitled to receive, prior to any distribution to the holders of common stock and Series A Preferred, 100% of the purchase price per share of Series B Preferred plus all accrued but unpaid dividends. |