ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accrued expenses and accrued other current liabilities consisted of the following at December 31, 2023, and September 30, 2023:

	December 31, 2023		September 30, 2023
Accrued liabilities	$	19,194	$	11,154
Interest payable		349,231		289,101
Provision for guaranteed commitment fees (1)		1,268,500		1,042,500
Accrued payroll		54,320		3,875
Deferred compensation		629,794		571,763
License Fees Payable		40,402		40,402
Insurance finance liability		-		23,772
	$	2,361,441	$	1,982,567

(1) Under the terms of the August 2021 Note, the February 2022 Note, the May 2022 Note, the February 2023 Letter Agreement and the June 19, 2023, Letter Agreement, the Company issued a total of 2,825,000 shares of common stock or pre-funded warrants as commitment fees. If the lender is unable to sell the shares for at least $1,325,000, it may make a one-time claim for each note to be reimbursed for the difference between their sale proceeds and $1,325,000. The difference between the fair value of the 2,825,000 shares as on December 31, 2023, and the guaranteed sale amount was recorded as a provision for guaranteed commitment fees and included in the table above.