v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES      
Net Loss $ (20,319,272) $ (47,830,487) $ (49,132,094)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization   74,282 87,315
Stock-based compensation   2,430,304 7,077,332
Loss (Gain) from change in fair value of promissory notes 1,103,000 5,351,336 5,739,005
(Gain) loss on extinguishment of debt 1,329,048 1,043,448  
Warrant inducement expenses     33,856,814
Loss (Gain) from change in fair value of warrant liability 7,036,009 2,989,800 (40,333,145)
Loss (Gain) on equity method investment 41,013 124,765 100,588
Changes in operating assets and liabilities:      
Accounts receivable   (153,360) (1,751,422)
Inventory   (1,705,126) (4,126,716)
Prepaid expenses and other current assets   (761,763) 6,171,166
Other assets     (95,246)
Operating lease liabilities   (43,554) (37,124)
Accounts payable   (3,628,409) 1,635,794
Accrued expenses   (1,668,924) 1,355,493
Net cash used in operating activities   (43,777,688) (39,452,240)
INVESTING ACTIVITIES      
Investment in joint venture   (2,100,000)  
Net cash used in investing activities   (2,100,000)  
FINANCING ACTIVITIES      
Proceeds from the sale of common stock and warrants to purchase common stock, net of issuance costs   47,026,535 17,759,434
Payment of Issuance Costs   1,930,539 448,045
Proceeds from exercise of common stock warrants   4,918,285 16,831,132
Proceeds from debt     33,100,000
Repayment of debt     (33,817,005)
Payment of financing costs   (977,610)  
Net cash provided by financing activities   49,036,671 33,425,516
Net increase (decrease) in cash and cash equivalents   3,158,983 (6,026,724)
Cash and cash equivalents at beginning of period   8,083,085 14,927,538
Cash and cash equivalents at end of period $ 11,242,068 11,242,068 8,900,814
Supplemental schedule of non-cash financing activities:      
Convertible promissory note converted into common stock   18,114,784 25,000
Fair value of common stock warrants exercised reclassified from warrant liability to equity     13,262,801
Common stock issuance costs in accounts payable and accrued expenses   243,317  
Common stock and warrant issuance costs in accounts payable and accrued expenses     1,378,327
Reclassification of deferred offering costs against ATM proceeds   $ 322,835 $ 19,205