| SCHEDULE OF CONVERTIBLE NOTES PAYABLE UNSECURED |
SCHEDULE OF CONVERTIBLE
NOTES PAYABLE
| |
|
March
31, 2024
|
|
|
September
30, 2023
|
|
| Senior Secured Convertible Promissory Notes (the “2022 Notes”) |
|
$ |
4,211,720 |
|
|
$ |
4,230,000 |
|
| Unamortized debt discount |
|
|
- |
|
|
|
(710,897 |
) |
| Net Balance |
|
$ |
4,211,720 |
|
|
$ |
3,519,103 |
|
|
SCHEDULE OF CONVERTIBLE
NOTES PAYABLE SENIOR SECURED
| |
|
September
30, 2023
|
|
|
September
30, 2022
|
|
| Senior Secured Convertible Promissory Notes (the “2022 Notes”, includes $96,000
of related party notes) |
|
$ |
4,230,000 |
|
|
$ |
4,230,000 |
|
| Unamortized debt discount |
|
|
(710,897 |
) |
|
|
(2,567,508 |
) |
| Net Balance |
|
|
3,519,103 |
|
|
|
1,662,492 |
|
| Current Balance |
|
|
(3,519,103 |
) |
|
|
- |
|
| Non-Current Balance |
|
|
- |
|
|
|
1,662,492 |
|
|
| SCHEDULE OF SHARE BASED PAYMENT AWARD AND WARRANTS VALUATION ASSUMPTIONS |
|
The
warrants issued with the 2022 Notes, the Second Closing Notes, and the Third Closing Notes were valued using the Black Scholes option
pricing model with the following assumptions:
SCHEDULE
OF SHARE BASED PAYMENT AWARD AND WARRANTS VALUATION ASSUMPTIONS
| |
|
Note
holders |
|
|
Placement
Agent |
|
|
Note
holders |
|
|
Placement
Agent |
|
|
Note
holders |
|
| |
|
First closing |
|
|
Second Closing |
|
|
Third Closing |
|
| |
|
Note
holders |
|
|
Placement
Agent |
|
|
Note
holders |
|
|
Placement
Agent |
|
|
Note
holders |
|
| Date of valuation |
|
July 6, 2022 |
|
|
January 18, 2023 |
|
|
May 15, 2023 |
|
| Closing price per share of Common Stock |
|
$ |
9.98 |
|
|
$ |
9.98 |
|
|
$ |
5.76 |
|
|
$ |
5.76 |
|
|
$ |
2.77 |
|
| Exercise price per share |
|
$ |
9.94 |
|
|
$ |
10.06 |
|
|
$ |
9.94 |
|
|
$ |
10.06 |
|
|
$ |
9.94 |
|
| Expected volatility |
|
|
88.44 |
% |
|
|
88.44 |
% |
|
|
111.31 |
% |
|
|
111.31 |
% |
|
|
114.33 |
% |
| Risk-free interest rate |
|
|
2.96 |
% |
|
|
2.96 |
% |
|
|
3.43 |
% |
|
|
3.43 |
% |
|
|
3.46 |
% |
| Dividend yield |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Valuation assumptions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Remaining expected term of underlying securities (years) |
|
|
5.0 |
|
|
|
5.0 |
|
|
|
5.0 |
|
|
|
5.0 |
|
|
|
5.0 |
|
|
| SCHEDULE OF CONVERTIBLE NOTES PAYABLE UNSECURED |
SCHEDULE
OF CONVERTIBLE NOTES PAYABLE UNSECURED
| |
|
March
31, 2024
|
|
|
September
30, 2023
|
|
| Exchanged notes (July 2022) |
|
$ |
699,781 |
|
|
$ |
699,781 |
|
| Second closing notes (January 2023) |
|
|
636,000 |
|
|
|
636,000 |
|
| Third closing notes (March, April, May, 2023) |
|
|
702,720 |
|
|
|
702,720 |
|
| Fourth closing notes (March, 2024) |
|
|
648,000 |
|
|
|
- |
|
| Total |
|
|
2,686,501 |
|
|
|
2,038,501 |
|
| Unamortized debt discount |
|
|
- |
|
|
|
(379,799 |
) |
| Net balance |
|
$ |
2,686,501 |
|
|
$ |
1,658,702 |
|
|
SCHEDULE
OF CONVERTIBLE NOTES PAYABLE UNSECURED
| |
|
September
30, 2023
|
|
|
September
30, 2022
|
|
| Exchanged notes (July 2022) |
|
$ |
699,781 |
|
|
$ |
699,781 |
|
| Second closing notes (January 2023) |
|
|
636,000 |
|
|
|
- |
|
| Third closing notes (March, April, May, 2023) |
|
|
702,720 |
|
|
|
- |
|
| Total |
|
|
2,038,501 |
|
|
$ |
699,781 |
|
| Unamortized debt discount |
|
|
(379,799 |
) |
|
|
- |
|
| Net Balance |
|
|
1,658,702 |
|
|
|
699,781 |
|
| Current Balance |
|
|
(1,658,702 |
) |
|
|
- |
|
| Non-Current Balance |
|
|
- |
|
|
|
699,781 |
|
|