Commitments and Contingencies Disclosure |
9 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes | |
| Commitments and Contingencies Disclosure | NOTE 10 - CONTINGENCIES AND COMMITMENTS
Strategic Investment Commitment:
As of June 30, 2026, the Company remained subject to certain contractual commitments under the Strategic Cooperation Agreement, Investment Rights Agreement and Share Grant Agreement (collectively, the “Strategic Agreements”) entered into on March 26, 2026, as subsequently amended by the Novation and Assignment Agreement. Under the Investment Rights Agreement, the investor committed to make strategic investments of up to $400,000 in the Company. As of June 30, 2026, the Company had received aggregate investment proceeds of $245,000. The remaining investment commitment of $155,000, if funded, remains subject to the terms and conditions of the Strategic Agreements.
Contingent Issuance of Series B Preferred Stock:
Pursuant to the Novation and Assignment Agreement, the potential issuance of up to 6,000 shares of the Company’s Series B Preferred Stock is contingent upon the satisfaction of the conditions specified in the Novation and Assignment Agreement, including the receipt of the full investment commitment under the Investment Rights Agreement and the achievement of the applicable performance milestones. As of June 30, 2026, no Series B Preferred Stock had been issued. |