BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES (Tables)
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6 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Sep. 30, 2025 |
| BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING POLICIES |
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| Schedule of revenues disaggregated by business operations and timing of revenue recognition |
The following table presents revenues disaggregated by our business operations and timing of revenue recognition: | | | | | | | | | | | | | | | | Three Months Ended: | | | March 31, | | March 31, | | | 2026 | | 2025 | Research and development services (point-in-time) | | $ | 2,363 | | $ | 133,547 | Product and authentication services (point-in-time): | | | | | | | Asset Marking | | | — | | | 5,384 | Supply chain | | | 48,446 | | | 290,229 | Large Scale DNA Production | | | 973,302 | | | 333,662 | Total | | $ | 1,024,111 | | $ | 762,822 |
The following table presents revenues disaggregated by our business operations and timing of revenue recognition: | | | | | | | | | | | | | | | | Six Month Period Ended: | | | March 31, | | March 31, | | | 2026 | | 2025 | Research and development services (point-in-time) | | $ | 3,598 | | $ | 280,989 | Product and authentication services (point-in-time): | | | | | | | Supply chain | | | 162,027 | | | 1,013,078 | Large Scale DNA Production | | | 1,423,880 | | | 333,662 | Asset marking | | | — | | | 5,384 | Total | | $ | 1,589,505 | | $ | 1,633,113 |
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| | | | | | | | | | | | | | | | Fiscal Years Ended: | | | September 30, | | | 2025 | | 2024 | Research and development services (point-in-time) | | $ | 375,759 | | $ | 311,238 | Product and authentication services (point-in-time): | | | | | | | Supply chain | | | 1,148,816 | | | 1,208,696 | Large Scale DNA Production | | | 612,360 | | | 584,115 | Asset marking | | | — | | | 9,441 | Total | | $ | 2,136,935 | | $ | 2,113,490 |
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| Schedule of opening and closing contract balances |
The opening and closing balances of the Company’s contract liability balances are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | March 31, | | $ | | | Balance sheet classification | | 2025 | | 2026 | | change | Contract liabilities | | Deferred revenue | | $ | 12,285 | | $ | 3,772 | | $ | 8,513 | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2024 | | 2025 | | change | Contract liabilities | | Deferred revenue | | $ | 252,785 | | $ | 12,285 | | $ | 240,500 |
The opening and closing balances of the Company’s contract asset balances are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | March 31, | | $ | | | Balance sheet classification | | 2025 | | 2026 | | change | Contract assets | | Accounts receivable | | $ | 237,400 | | $ | 303,265 | | $ | 65,865 | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2024 | | 2025 | | change | Contract assets | | Accounts receivable | | $ | 328,252 | | $ | 237,400 | | $ | (90,852) |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2024 | | 2025 | | change | Contract liabilities | | Deferred revenue | | $ | 252,785 | | $ | 12,285 | | $ | 240,500 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2023 | | 2024 | | change | Contract liabilities | | Deferred revenue | | $ | 270,435 | | $ | 252,785 | | $ | 17,650 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2024 | | 2025 | | change | Contract assets | | Accounts receivables | | $ | 328,252 | | $ | 237,400 | | $ | (90,852) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | October 1, | | September 30, | | $ | | | Balance sheet classification | | 2023 | | 2024 | | change | Contract assets | | Accounts receivables | | $ | 212,966 | | $ | 328,252 | | $ | 115,286 |
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| Schedule of reconciliation of cash, cash equivalents and restricted cash to amounts shown in statement of cash flows |
For the purpose of the accompanying condensed consolidated financial statements, all highly liquid investments with a maturity of three months or less from when purchased are considered to be cash equivalents. The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts shown in the statement of cash flows. | | | | | | | | | | | | | | | | March 31, | | September 30, | | | 2026 | | 2025 | Cash and cash equivalents | | $ | 949,091 | | $ | 1,667,800 | Restricted cash | | | — | | | 750,000 | Total cash, cash equivalents and restricted cash | | $ | 949,091 | | $ | 2,417,800 |
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| | | | | | | | | | | | | | | | | | September 30, | | September 30, | | | | 2025 | | 2024 | | Cash and cash equivalents | | $ | 1,667,800 | | $ | 5,852,363 | | Restricted cash | | | 750,000 | | | 750,000 | | Total cash, cash equivalents and restricted cash | | $ | 2,417,800 | | $ | 6,602,363 | |
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| Schedule of property, plant and equipment |
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| | | | | | | | | | | | | | | | | | September 30, | | | | 2025 | | 2024 | | Lab equipment | | $ | 3,406,789 | | $ | 3,256,708 | | Leasehold improvements | | | 124,825 | | | 124,825 | | Total | | | 3,531,614 | | | 3,381,533 | | Accumulated depreciation | | | 3,288,894 | | | 2,922,638 | | Property and equipment, net | | $ | 242,720 | | $ | 458,895 | |
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| Schedule of anti-dilutive securities not included computation of net loss per share |
Securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive for the three and six-months ended March 31, 2026 and 2025 are as follows: | | | | | | | | | | | | March 31, | | | 2026 | | 2025 | Warrants | | 18,063,333 | | 852,031 | Stock options | | 724,227 | | 142 | Total | | 18,787,560 | | 852,173 |
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| | | | | | | | | | | | | | 2025 | | 2024 | | Warrants | | 3,121,203 | | 26,332 | | Options | | 291 | | 437 | | | | 3,121,494 | | 26,769 | |
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