Concentration of risk |
9 Months Ended |
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Jun. 30, 2025 | |
| Risks and Uncertainties [Abstract] | |
| Concentration of risk | Note 12 — Concentration of risk
Credit risk
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.
As of June 30, 2025 and September 30, 2024, $1,239,570 and $1,526,661, respectively, were deposited with various major financial institutions in the United States. Accounts at each institution in the United States are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000. As of June 30, 2025, the Company had deposits in excess of the FDIC insurance limit with two financial institutions in the United States with $ 976,997 uninsured. As of September 30, 2024, the Company did not have deposit in excess of the FDIC insurance limit.
Accounts receivable are typically unsecured and derived from revenue earned from customers, thereby exposing the Company to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances.
Customer and vendor concentration risk
For the three and nine months ended June 30, 2025, two customers accounted for 100% and 76% of the Company’s total revenues, respectively. For the three and nine months ended June 30, 2024, one and four customers accounted for 98% and 100% of the Company’s total revenues, respectively. As of June 30, 2025 and September 30, 2024, $ outstanding of accounts receivable.
For the three and nine months ended June 30, 2025, two suppliers accounted for % of the Company’s total purchases. For the three and nine months ended June 30, 2024, two suppliers accounted for % and % of the Company’s total purchases, respectively. As of June 30, 2025, $ outstanding of accounts payable. As of September 30, 2024, accounts payable to two suppliers accounted for % of the Company’s total accounts payable.
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