Related Party Transactions |
12 Months Ended |
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Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 7. Related Party Transactions
Note Payable, Related Party
On March 29, 2018, the Company issued a $750,000, unsecured promissory note to the Company’s CEO for a potential acquisition and working capital. The note carries an interest rate of 6% per annum, compounding annually, and matures on December 31, 2022. All principal and interest are due at maturity and there is no prepayment penalty for early repayment of the note. In July 2023, this promissory note was purchased by a non-related entity. As of September 30, 2023 and 2022, total balance on the debt was $0. As of September 30, 2022, total balance on the debt was $741,030 and accrued interest totaled $223,940.
On September 30, 2023, the Company owed its Chief Financial Officer $12,000 for past services to the Company.
Stock-Based Compensation
The Company issued common stock for services to officers and directors during the years ended September 30, 2023 and 2022 as disclosed in Note 4.
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