v3.25.2
Consolidated Balance Sheets - USD ($)
Jul. 02, 2025
Jun. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
Current liabilities:        
Accounts payable and accrued expenses $ 2,425      
Total Current Liabilities and Total Liabilities 2,425      
Commitments and Contingencies      
Stockholder’s Deficit:        
Common stock, $0.01 par value; 1,000 shares authorized; 0 shares issued and outstanding      
Accumulated deficit (2,425)      
Total Stockholder’s Deficit (2,425)      
Total Liabilities and Stockholder’s Deficit      
Sonnet BioTherapeutics Holdings, Inc. [Member]        
Current assets:        
Cash and cash equivalents   $ 321,297 $ 149,456 $ 2,274,259
Prepaid expenses and other current assets   400,882 1,206,409 1,677,396
Incentive tax receivable   597,393 762,078 786,574
Total current assets   1,319,572 2,117,943 4,738,229
Property and equipment, net   12,854 20,523 33,366
Operating lease right-of-use asset   64,640 123,417 193,689
Deferred offering costs   171,900 15,000 49,988
Other assets   486,381 494,147 414,206
Total assets   2,055,347 2,771,030 5,429,478
Current liabilities:        
Accounts payable   3,750,083 2,183,416 2,201,999
Accrued expenses and other current liabilities   1,282,906 942,489 3,230,922
Current portion of operating lease liability   68,837 84,291 73,048
Deferred income     18,626
Total current liabilities   5,101,826 3,210,196 5,524,595
Operating lease liability, net of current portion   46,573 130,863
Total Current Liabilities and Total Liabilities   5,101,826 3,256,769 5,655,458
Commitments and Contingencies  
Stockholder’s Deficit:        
Preferred stock, $0.0001 par value: 5,000,000 shares authorized; no shares issued or outstanding  
Common stock, $0.01 par value; 1,000 shares authorized; 0 shares issued and outstanding   333 65 22
Additional paid-in capital   125,061,805 117,195,181 110,017,751
Accumulated deficit   (128,108,617) (117,680,985) (110,243,753)
Total Stockholder’s Deficit   (3,046,479) (485,739) (225,980)
Total Liabilities and Stockholder’s Deficit   2,055,347 $ 2,771,030 $ 5,429,478
RORSCHACH I LLC [Member]        
Current liabilities:        
Accounts payable and accrued expenses   596,667    
Total Current Liabilities and Total Liabilities   596,667    
Commitments and Contingencies      
Stockholder’s Deficit:        
Accumulated deficit   (596,667)    
Total Stockholder’s Deficit   (596,667)    
Total Liabilities and Stockholder’s Deficit