| Schedule of Stock-based Compensation Expense |
The Company recorded stock-based compensation expense in the consolidated statements of operations as follows: | | | Six Months Ended | | | | | March 31, | | | | | 2026 | | | 2025 | | | Research and development | | $ | 95,704 | | | $ | 117,929 | | | General and administrative | | | 353,668 | | | | 243,830 | | | Total stock-based compensation expense | | $ | 449,372 | | | $ | 361,759 | | | | | | | | | | | |
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The Company recorded stock-based compensation expense in the consolidated statements of operations as follows: | | | Year ended | | | | | September 30, | | | | | 2025 | | | 2024 | | | Research and development | | $ | 212,185 | | | $ | 249,346 | | | General and administrative | | | 450,263 | | | | 855,100 | | | Total stock-based compensation expense | | $ | 662,448 | | | $ | 1,104,446 | |
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| Schedule of Stock Options Activity |
A summary of information related to stock options for the six months ended March 31, 2026 is as follows: | | | Options | | | Weighted Average Exercise Price | | | Intrinsic Value | | | Outstanding as of September 30, 2025 | | | 4,514,863 | | | $ | 1.37 | | | | | | | Granted | | | 838,000 | | | | 1.97 | | | | | | | Exercised | | | (25 | ) | | | 1.08 | | | $ | 70 | | | Forfeited/expired | | | (93,352 | ) | | | 1.40 | | | | | | | Outstanding as of March 31, 2026 | | | 5,259,486 | | | | 1.47 | | | $ | 12,586,779 | | | | | | | | | | | | | | | | | Exercisable as of March 31, 2026 | | | 3,686,131 | | | $ | 1.41 | | | $ | 9,046,741 | | | Exercisable and expected to vest at March 31, 2026 | | | 5,259,486 | | | $ | 1.47 | | | $ | 12,586,779 | |
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A summary of information related to stock options for the years ended September 30, 2025 and 2024 is as follows: | | | Options | | | Weighted Average Exercise Price | | | Intrinsic Value | | | Outstanding as of September 30, 2023 | | | 2,624,280 | | | $ | 1.49 | | | | | | | Granted | | | 2,056,461 | | | | 1.42 | | | | | | | Exercised | | | - | | | | - | | | | | | | Forfeited | | | (214,401 | ) | | | 1.44 | | | | | | | Expired | | | (256,368 | ) | | | 1.25 | | | | | | | Outstanding as of September 30, 2024 | | | 4,209,972 | | | | 1.47 | | | | | | | Granted | | | 905,000 | | | | 1.08 | | | | | | | Exercised | | | (5,050 | ) | | | 1.76 | | | | | | | Forfeited | | | (291,454 | ) | | | 1.44 | | | | | | | Expired | | | (303,605 | ) | | | 1.80 | | | | | | | Outstanding as of September 30, 2025 | | | 4,514,863 | | | $ | 1.37 | | | $ | 419,392 | | | | | | | | | | | | | | | | | Exercisable as of September 30, 2025 | | | 3,255,681 | | | $ | 1.38 | | | $ | 419,392 | | | Exercisable and expected to vest at September 30, 2025 | | | 4,514,863 | | | $ | 1.37 | | | $ | 419,392 | |
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| Schedule of Stock Options Granted Black-Scholes Pricing Model Using the Range of Inputs |
The stock options granted during the six month period ended March 31, 2026 were valued using the Black-Scholes pricing model using the range of inputs as follows:
| Assumptions | | | March 31,
2026 | | | Risk free interest rate | | | 3.71% -3.82 | % | | Expected volatility | | | 60.7% - 65.3 | % | | Expected term | | | 4.9 - 6.0 | | | Dividend yield | | $ | - | |
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The stock options granted during the years ended September 30, 2025 and 2024 were valued using the Black-Scholes pricing model using the range of inputs as follows: | Assumptions | | | FY 2025 | | | | FY 2024 | | | Risk free interest rate | | | 4.36% - 4.41 | % | | | 4.22% - 4.65 | % | | Expected volatility | | | 61.4% - 63.1 | % | | | 62.8% - 64.17 | % | | Expected term | | | 5.1 - 6.1 | | | | 5.0 - 6.0 | | | Dividend yield | | $ | - | | | $ | - | |
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