Stockholders’ Deficit

9 Months Ended

Jun. 30, 2023

Equity [Abstract]

Stockholders’ Deficit

7. Stockholders’ Deficit

On January 25, 2021, the Company amended its articles of incorporation to increase its authorized shares to 1,000,000,000 shares and 10,000,000 shares of the Company’s common stock and preferred stock, respectively.

The Company’s common stock shares have equal voting rights, are non-assessable and have one vote per share. As of June 30, 2023 and September 30, 2022, the Company’s issued and outstanding common stock totaled 506,357,952 and 501,376,264, respectively.

The Company’s Series A Preferred Stock shares have voting rights in the ratio of 25 votes to 1 share held. As of June 30, 2023 and September 30, 2022, the Company’s issued and outstanding Series A Preferred Stock totaled 1,824,000, respectively.

The Company’s Series H Preferred Stock shares have voting rights equal to the aggregate of all other voting rights plus 1 and each share is convertible into 10 shares of the Company’s common stock. As of June 30, 2023 and September 30, 2022, the Company’s issued and outstanding Series H Preferred Stock totaled 4,878,049, respectively.

The Company’s Series Z Preferred Stock shares have voting rights equal to the aggregate of all other voting rights plus 1 and each share is convertible into 100 shares of the Company’s common stock. Additionally, the Series Z Preferred Stock carries a cumulative dividend at 4.56% of the stated value, is to be paid in kind with common stock, and is payable only at the time the shares are converted to common stock. The Series Z Preferred Stock was retired by the Company during August 2022.

Warrants

A summary of the status of the Company’s warrant grants as of June 30, 2023 and the changes during the nine months then ended is presented below:

					Weighted-Average
			Weighted-Average		Remaining
	Warrants		Exercise Price		Contractual Life
Outstanding and Exercisable at September 30, 2022		88,918,645	$	0.03	4.9 years
Outstanding and Exercisable at June 30, 2023		88,918,645	$	0.03	4.2 years

Options

A summary of the status of the Company’s option grants as of June 30, 2023 and the changes during the nine months then ended is presented below:

					Weighted-Average
			Weighted-Average		Remaining
	Options		Exercise Price		Contractual Life
Outstanding and Exercisable at September 30, 2022		22,500,000	$	0.01	0.9 years
Outstanding and Exercisable at June 30, 2023		22,500,000	$	0.01	0.2 years