v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Sep. 30, 2025
Current assets    
Cash and cash equivalent $ 33,238,616 $ 10,130,942
Accounts receivable 935,666
Inventories 3,994,120 2,107,000
Prepayments and other current assets 16,170,591 1,567,441
Total current assets 54,338,993 13,805,383
Non-current assets    
Right of use asset 225,884
Property and equipment, net 11,164
Equity investment 1,500,000 2,200,000
Total non-current assets 1,737,048 2,200,000
Total assets 56,076,041 16,005,383
Current liabilities    
Advance from customer 100,000
Other payables and accrued liabilities 161,407 318,110
Short-term loan payable 50,000 50,000
Lease liability – current 184,574
Total current liabilities 395,981 468,110
Non-current liabilities    
SEPA liabilities 370,546
Lease liability - non-current 45,221
Total non-current liabilities 45,221 370,546
Total liabilities 441,202 838,656
Stockholders’ Equity    
Common stock, no par value; 1,000,000,000 and 100,000,000 shares authorized as of June 30, 2026 and September 30, 2025; 2,520,581 and 26,976 shares issued and outstanding on June 30, 2026 and September 30, 2025 [1]
Additional paid in capital 73,173,060 29,984,734
Accumulated deficit (17,538,221) (14,818,007)
Total equity 55,634,839 15,166,727
Total liabilities and equity $ 56,076,041 $ 16,005,383
[1] On December 22, 2025, the Company completed a 1-for-24 reverse stock split of its issued and outstanding Common Stock, no par value (the “December 2025 Reverse Split”). On May 4, 2026, the Company completed a 1-for-20 reverse stock split of its issued and outstanding common stock, no par value, (the “May 2026 Reverse Split”, and together with the December 2025 Reverse Split, the “Reverse Stock Splits”). As a result of the Reverse Stock Splits, the number of issued and outstanding shares of Common Stock of the Company as of June 30, 2026 was reduced from 50,410,884 to 2,520,581 shares, and the number of issued and outstanding shares of Common Stock as of September 30, 2025 was retroactively adjusted to 26,976 shares to give effect to the Reverse Stock Splits. The Reverse Stock Splits did not reduce the number of authorized shares of Common Stock and did not change the par value of the Common Stock. The Reverse Stock Splits affected all stockholders uniformly. Except to the extent that the Reverse Stock Split resulted in the stockholders’ fractional shares being rounded up on the participant level, no other effects affect stockholder’s ownership percentage of the Company’s shares of Common Stock. All references to number of shares, and to per share information in the consolidated financial statements have been retroactively adjusted to give effects to the Reverse Stock Splits.