Income Taxes (Tables)
|
3 Months Ended |
Dec. 31, 2024 |
Income Taxes [Abstract] |
|
Schedule of Components of Net Loss |
The components of net income (loss) were attributable to the following
regions:
| |
Three months ended December 31, | | |
Years Ended September 30, | |
| |
2024 | | |
2024 | | |
2023 | |
United States – continuing operations | |
$ | (160,630,004 | ) | |
$ | (7,377,598 | ) | |
$ | (16,710,346 | ) |
United States – discontinued operations | |
| — | | |
| (261,186 | ) | |
| 425,000 | |
Foreign – discontinued operations | |
| (157,975 | ) | |
| (879,736 | ) | |
| (1,143,082 | ) |
Total | |
$ | (160,787,979 | ) | |
$ | (8,518,520 | ) | |
$ | (17,428,428 | ) |
|
Schedule of Components of Income Taxes Expense |
The components of income taxes expense consisted of the following:
| |
Three months ended December 31, | | |
Years Ended September 30, | |
| |
2024 | | |
2024 | | |
2023 | |
Current: | |
| | |
| | |
| |
Federal | |
$ | — | | |
$ | — | | |
$ | — | |
State | |
| — | | |
| — | | |
| — | |
Foreign | |
| — | | |
| — | | |
| — | |
Total current income taxes expense | |
| — | | |
| — | | |
| — | |
Deferred: | |
| | | |
| | | |
| | |
Federal | |
| (33,734,201 | ) | |
| (1,428,756 | ) | |
| (665,382 | ) |
State | |
| (11,421,436 | ) | |
| (483,736 | ) | |
| (225,279 | ) |
Foreign | |
| (26,757 | ) | |
| (163,087 | ) | |
| (98,604 | ) |
Total deferred income taxes (benefit) | |
| (45,182,394 | ) | |
| (2,075,579 | ) | |
| (989,265 | ) |
Change in valuation allowance | |
| 45,182,394 | | |
| 2,075,579 | | |
| 989,265 | |
Total income taxes expense | |
$ | — | | |
$ | — | | |
$ | — | |
|
Schedule of Reconciliations of Statutory Income Tax Rate |
The reconciliations of the statutory income tax rate and the Company’s
effective income tax rate were as follows:
|
|
Three months
ended
December 31, |
|
|
Years
Ended
September 30, |
|
|
|
2024 |
|
|
2024 |
|
|
2023 |
|
Statutory federal income tax rate |
|
|
21.0 |
% |
|
|
21.0 |
% |
|
|
21.0 |
% |
State tax |
|
|
7.1 |
% |
|
|
6.0 |
% |
|
|
0.8 |
% |
Foreign rate different rates |
|
|
0.0 |
% |
|
|
(0.2 |
)% |
|
|
(0.1 |
)% |
Permanent differences |
|
|
0.0 |
% |
|
|
(0.9 |
)% |
|
|
(17.2 |
)% |
Change in valuation allowance |
|
|
(28.1 |
)% |
|
|
(25.9 |
)% |
|
|
(4.5 |
)% |
Effective tax rate |
|
|
0.0 |
% |
|
|
0.0 |
% |
|
|
0.0 |
% |
|
Schedule of Net Deferred Tax Assets (Liabilities) |
The components of the Company’s net deferred
tax assets (liabilities) as of December 31, 2024 and September 30, 2024 and 2023 were as follows:
| |
Three months ended December 31, | | |
September 30, | | |
September 30, | |
| |
2024 | | |
2024 | | |
2023 | |
Deferred tax assets | |
| | |
| | |
| |
Net operating loss carry-forwards | |
$ | 8,394,484 | | |
$ | 2,917,949 | | |
$ | 1,726,620 | |
Accrued directors’ compensation | |
| 146,792 | | |
| 137,890 | | |
| 100,410 | |
Stock-based compensation | |
| 720,093 | | |
| 718,518 | | |
| 653,976 | |
Loss from change in fair value – derivative liabilities | |
| 39,694,038 | | |
| — | | |
| — | |
Impairment of digital assets | |
| — | | |
| — | | |
| 1,511 | |
Allowance for credit losses | |
| 11,027 | | |
| 11,027 | | |
| 123,554 | |
Unrealized foreign currency exchange loss | |
| 1,344 | | |
| — | | |
| 612 | |
Capitalized SPAC acquisition related professional fee | |
| 1,261,780 | | |
| 1,261,780 | | |
| 364,902 | |
Total deferred tax assets, gross | |
| 50,229,558 | | |
| 5,047,164 | | |
| 2,971,585 | |
Valuation allowance | |
| (50,229,558 | ) | |
| (5,047,164 | ) | |
| (2,971,585 | ) |
Total deferred tax assets | |
$ | — | | |
$ | — | | |
$ | — | |
|