v3.25.3
Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Sep. 30, 2024
Current assets:    
Cash and cash equivalents $ 5,120,264 $ 149,456
Restricted cash 8,237,002
Prepaid expenses and other current assets 470,615 1,206,409
Incentive tax receivable 514,845 762,078
Total current assets 14,342,726 2,117,943
Property and equipment, net 10,906 20,523
Operating lease right-of-use asset 43,775 123,417
Deferred offering costs 15,000
Other assets 487,151 494,147
Total assets 14,884,558 2,771,030
Current liabilities:    
Accounts payable 2,942,331 2,183,416
Accrued expenses and other current liabilities 1,108,075 942,489
Current portion of operating lease liability 46,573 84,291
Total current liabilities 4,096,979 3,210,196
Operating lease liability, net of current portion 46,573
Total liabilities 4,096,979 3,256,769
Commitments and contingencies (Note 5)
Stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value: 5,000,000 shares authorized; 7,500 and no shares issued and outstanding at September 30, 2025 and 2024, respectively (Liquidation value of $7,601,250 as of September 30, 2025) 1
Common stock, $0.0001 par value: 125,000,000 shares authorized; 7,077,352 and 650,284 issued and outstanding at September 30, 2025 and 2024, respectively 708 65
Additional paid-in capital 144,479,342 117,195,181
Accumulated deficit (133,692,472) (117,680,985)
Total stockholders’ equity (deficit) 10,787,579 (485,739)
Total liabilities and stockholders’ equity (deficit) $ 14,884,558 $ 2,771,030

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