Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Subsequent Events

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Note 13 - Subsequent Events
6 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

13. SUBSEQUENT EVENTS

 

The Company evaluated all events or transactions through May 13, 2022 the date which these unaudited interim consolidated financial statements were issued. There were no material subsequent events, other than provided below:

 

Effective as of the date of this filing, the Company has raised $460,000 toward the first close of its planned upcoming financing. Of such amount, $360,000 was sent directly to the Company in the form of shareholder advances. The remaining $100,000 is currently held in an escrow account. Funds held in escrow will be released to the Company upon satisfaction of the required minimum first closing amount of $2 million, which includes shareholder advance amounts sent to the Company.