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STOCKHOLDERS’ EQUITY
 9 Months Ended
Jun. 30, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 9 - STOCKHOLDERS’ EQUITY

 

Common Stock

 

As of June 30, 2025, we had 231,229,054 shares of common stock outstanding and were authorized to issue 681,000,000 shares of common stock at a par value of $0.001 per share. We had 225,975,331 shares of common stock outstanding as of September 30, 2024.

 

 

Common Stock Issued Under Equity Incentive Plan

 

During the nine months ended June 30, 2025, 6,398,717 Restricted Stock Units vested for which we issued 4,897,323 shares of common stock and 1,501,394 RSU’s were sold by employees to fund payroll taxes.

 

Common Stock Issued for Legal Settlement

 

In April 2021, Eric Marquez, the former Secretary/Treasurer and Chief Financial Officer of Cipherloc, and certain other plaintiffs, filed a lawsuit against Cipherloc and Michael De La Garza, Cipherloc’s former Chief Executive Officer and President, in the 20th Judicial District for Hays County, Texas (Cause No. 20-0818). We executed a settlement agreement with the plaintiffs on December 13, 2024, resulting in the dismissal of the lawsuit with prejudice on January 2, 2025. The settlement agreement required the Company to issue the plaintiffs a combined 356,400 shares of common stock. The shares were issued on December 20, 2024, with a fair market value of $14 thousand.

 

Common Stock Issued for Cash

 

We did not issue shares of common stock for cash during the nine months ended June 30, 2025.

 

Common Stock Issued for Business Combinations

 

We did not issue shares for mergers or acquisitions related activity during the nine months ended June 30, 2025.

 

Common Stock Issued for Services

 

We did not issue shares for services during the nine months ended June 30, 2025.

 

Preferred Stock

 

As of June 30, 2025, we had zero (0) shares of preferred stock outstanding and were authorized to issue 10,000,000 shares of preferred stock at a par value of $0.001 per share.

 

Warrants

 

The following table summarizes warrant activity for the nine months ended June 30, 2025:

 

Outstanding Warrants            
(In thousands, except prices and remaining lives)  Number of Warrants   Weighted Average Exercise Price   Weighted Average Remaining Life 
Outstanding at September 30, 2024   43,158   $0.33    3.89 
Granted   —    —    — 
Exercised   —    —    — 
Canceled/Forfeited  —    —    — 
Outstanding at June 30, 2025   43,158   $0.33    3.14