SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Jun. 30, 2025 |
|---|
| Accounting Policies [Abstract] |
|
| SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES |
See
below for estimated useful lives:
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Loop Players | |
| 3 years | |
| Equipment | |
| 3-5 years | |
| Software | |
| 3 years | |
|
| SCHEDULE OF DISAGGREGATION OF REVENUE |
The
following table disaggregates our revenue by major type for each of the periods indicated:
SCHEDULE OF DISAGGREGATION OF REVENUE
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| | |
Three Months Ended June 30, | | |
Nine Months Ended June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Advertising revenue | |
$ | 1,000,220 | | |
$ | 3,997,054 | | |
$ | 5,764,806 | | |
$ | 16,936,810 | |
| Legacy and other revenue | |
| 285,042 | | |
| 353,516 | | |
| 932,095 | | |
| 1,587,479 | |
| Total | |
$ | 1,285,262 | | |
$ | 4,350,570 | | |
$ | 6,696,901 | | |
$ | 18,524,289 | |
| Revenue | |
$ | 1,285,262 | | |
$ | 4,350,570 | | |
$ | 6,696,901 | | |
$ | 18,524,289 | |
|
| SCHEDULE OF ANTI-DILUTIVE SECURITIES |
The
following securities are excluded from the calculation of weighted average diluted shares at June 30, 2025, and September 30, 2024, respectively,
because their inclusion would have been anti-dilutive.
SCHEDULE OF ANTI-DILUTIVE SECURITIES
| | |
June 30, | | |
September 30, | |
| | |
2025 | | |
2024 | |
| Options to purchase common stock | |
| 5,297,169 | | |
| 7,674,756 | |
| Warrants to purchase common stock | |
| 4,369,287 | | |
| 4,782,216 | |
| Restricted Stock Units (RSUs) | |
| 1,591,989 | | |
| 4,163,270 | |
| Convertible debentures | |
| 5,670,407 | | |
| — | |
| Series A preferred stock | |
| — | | |
| — | |
| Series B preferred stock | |
| — | | |
| — | |
| Total common stock equivalents | |
| 16,928,852 | | |
| 16,620,242 | |
|
| SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE |
For
the three and nine months ended June 30, 2025, and 2024, a reconciliation of the numerator and
denominator used in the calculation of basic and diluted net loss per share of our common stock is as follows:
SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE
| | |
Three Months Ended June 30, | | |
Nine Months Ended June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Numerator: | |
| | | |
| | | |
| | | |
| | |
| Net loss | |
$ | (3,404,861 | ) | |
$ | (5,451,617 | ) | |
$ | (12,178,735 | ) | |
$ | (18,307,652 | ) |
| Plus: Deemed dividend on warrants | |
| — | | |
| — | | |
| — | | |
| (419,939 | ) |
| Net loss attributable to common stockholders | |
$ | (3,404,861 | ) | |
$ | (5,451,617 | ) | |
$ | (12,178,735 | ) | |
$ | (18,727,591 | ) |
| | |
| | | |
| | | |
| | | |
| | |
| Denominator: | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of common shares outstanding | |
| 115,549,556 | | |
| 75,146,980 | | |
| 124,555,375 | | |
| 70,966,475 | |
| | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted net loss per common share | |
| (0.03 | ) | |
| (0.07 | ) | |
$ | (0.10 | ) | |
$ | (0.26 | ) |
|