Mastermind (MMND) 10-K 13 Jan 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2022	Jan. 13, 2023	Mar. 31, 2022
Cover [Abstract]
Entity Registrant Name	MASTERMIND, INC.
Entity Central Index Key	0001088638
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--09-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		34,505,520
Entity Public Float			$ 1,264,503
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-26533
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	82-3807447
Security 12b Title	Common Stock, $0.001 par value
Entity Address Address Line 1	2221 Peachtree Rd. NE
Entity Address City Or Town	Atlanta
Entity Address State Or Province	GA
Entity Address Postal Zip Code	30309
City Area Code	678
Local Phone Number	420-4000
Trading Symbol	MMND
Entity Interactive Data Current	Yes
Auditor Name	Prager Metis CPAs, LLC
Auditor Location	Hackensack, New Jersey
Auditor Firm Id	273
Entity Address Address Line 2	Suite D-134

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Current assets:
Cash and cash equivalents	$ 1,735,140	$ 1,075,188
Accounts receivable	349,233	1,261,183
Unbilled receivables	1,137,078	0
Prepaid expenses and other current assets	27,451	31,266
Income tax receivable	77,477	77,477
Total Current Assets	3,326,379	2,445,114
Right-of-use asset, net	153,816	262,097
Property and equipment, net	52,004	59,495
TOTAL ASSETS	3,532,199	2,766,706
Current liabilities:
Accounts payable and accrued expenses	109,263	157,994
Accounts payable and accrued expenses, related party	0	100,000
Unearned revenues	328,081	59,326
Lease obligation, current	114,389	108,281
Total Current Liabilities	551,733	425,601
Lease obligation, net of current portion	39,427	153,816
Deferred tax liabilities	246,705	168,174
Total Liabilities	837,865	747,591
Stockholders' Equity
Preferred stock: 1,000,000 shares authorized; $0.001 par value; no shares issued and outstanding	0	0
Common stock: 125,000,000 shares authorized; $0.001 par value; 34,505,520 shares issued and outstanding	34,506	34,506
Common stock to be issued; 0 and 135,000 shares as of September 30, 2022 and 2021, respectively	0	135
Additional paid in capital	62,865	76,230
Retained earnings	2,596,963	1,908,244
Total Stockholders' Equity	2,694,334	2,019,115
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 3,532,199	$ 2,766,706

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
Consolidated Balance Sheets
Common stock to be issue, shares (in shares)	0	135,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	34,505,520	34,505,520
Common stock, shares outstanding (in shares)	34,505,520	34,505,520
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Consolidated Balance Sheets
Revenues	$ 4,540,060	$ 3,827,721
Cost of revenues	1,534,398	1,498,525
Gross profit	3,005,662	2,329,196
Operating Expenses:
Management consulting	615,400	484,900
Professional fees	328,237	136,115
Wages and benefits	700,367	986,221
General and administrative	623,365	737,365
Total Operating Expenses	2,267,369	2,344,601
Income (loss) from operations	738,293	(15,405)
Other Income
Interest income	1,697	1,857
Gain on PPP loan forgiveness	0	780,288
Total other income	1,697	782,145
Income before provision (benefit) for income taxes	739,990	766,740
Provision (benefit) for income taxes	51,271	(528)
Net income	$ 688,719	$ 767,268
Basic and diluted income per common share
Basic	$ 0.02	$ 0.02
Diluted	$ 0.02	$ 0.02
Weighted average number of common shares outstanding
Basic1	34,505,520	34,338,506
Diluted1	34,505,520	34,647,863

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Common Stock To Be Issued	Additional Paid-In Capital	Retained Earnings
Balance, shares at Sep. 30, 2020		33,870,520
Balance, amount at Sep. 30, 2020	$ 1,174,847	$ 33,871	$ 0	$ 0	$ 1,140,976
Shares of common stock issued and to be issued for services, shares	635,000	635,000	135,000
Shares of common stock issued and to be issued for services, amount	$ 77,000	$ 635	$ 135	76,230	0
Net income	767,268	$ 0	$ 0	0	767,268
Balance, shares at Sep. 30, 2021		34,505,520	135,000
Balance, amount at Sep. 30, 2021	2,019,115	$ 34,506	$ 135	76,230	1,908,244
Net income	688,719	0		0	688,719
Reversal of common stock to be issued for services, shares			(135,000)
Reversal of common stock to be issued for services, amount	(13,500)	$ 0	$ (135)	(13,365)	0
Balance, shares at Sep. 30, 2022		34,505,520
Balance, amount at Sep. 30, 2022	$ 2,694,334	$ 34,506	$ 0	$ 62,865	$ 2,596,963

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 688,719	$ 767,268
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gain on PPP loan forgiveness	0	(780,288)
(Reversal of) Stock based compensation	(13,500)	77,000
Depreciation	23,144	21,722
Deferred tax	78,531	(1,278)
Changes in operating assets and liabilities:
Accounts receivable	911,950	(513,711)
Unbilled receivables	(1,137,078)	40,019
Income tax receivable	0	40,233
Prepaid expenses and other current assets	3,815	142,158
Accounts payable and accrued expenses	(48,731)	34,778
Accounts payable and accrued expenses, related party	(100,000)	0
Unearned revenues	268,755	(23,124)
Net cash provided by (used in) operating activities	675,605	(195,223)
Cash flows from investing activities:
Purchase of property and equipment	(15,653)	(15,389)
Net cash used in investing activities	(15,653)	(15,389)
Cash flows from financing activities:
Proceeds from PPP note payable	0	478,538
Net cash provided by financing activities	0	478,538
Net change in cash	659,952	267,926
Cash, beginning of year	1,075,188	807,262
Cash, end of year	1,735,140	1,075,188
Supplemental Cash Flow Information
Income taxes paid (refunded)	(13,257)	0
Interest paid	$ 0	$ 0

Business

Business	12 Months Ended
	Sep. 30, 2022
Business
Business	1. Business Mastermind, Inc. (the “Company”, “we”, “us”, or the “organization”) is an involvement marketing service agency that designs, creates and develops branding and marketing campaigns, primarily for large corporate clients with well-known brands. We specialize in customer conversion initiatives that we believe facilitate the involvement of more of the “right customers” with the brands of our clients. We focus on converting prospects to customers. Our programs can take on various forms, including creating and managing content marketing, influencer marketing, social marketing/community management, digital issues management promotions, Augmented Reality Marketing, and UX Analytics & Digital Intelligence.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Accounting Principles The financial statements and accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Use of Accounting Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. Cash and Cash Equivalents Cash includes cash on hand. Cash equivalents include short-term, highly liquid investments, with a remaining maturity at the date of purchase of three Accounts Receivable We perform various analyses to evaluate accounts receivable balances and specifically identify those accounts which may not September 30, 2022 2021, September 30, 2022 2021, not Unbilled Receivables We perform various analyses to evaluate work performed that will give us future billings rights under current contracts with customers on jobs in progress. Under our revenue recognition policy and proportional revenue recognition, we recognize advanced services based on the buildup of cost related to these jobs in progress as unbilled receivables on our balance sheet when the earnings process has been completed and revenue is recognized before related invoices have been issued to our customers. Property and Equipment Property and equipment are stated at cost. Equipment is depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to seven years. Leasehold improvements are amortized using the straight-line method over the remaining estimated life of the lease at the time the improvement is put into service. Expenditures for repairs and maintenance are charged to expense as incurred. Revenue Recognition Revenue is recognized in accordance with the Accounting Standards Codification 606, five 606. 606 not The Company recognizes revenues based on the following steps: 1. contract with customer has been identified 2. performance obligations of the company have been identified 3. a transaction price has been determined 4. the price has been allocated appropriately to the performance obligations 5. performance obligations are satisfied. Fair Value of Financial Instruments We follow Accounting Standards Codification 820 10 820 10” 820 10 three The hierarchy established under ASC 820 10 1 3 three 820 10 Level 1 820 10, not Level 2 2 Level 3 3 no Leases The Company accounts for leases under ASC 842, “Leases”. 1 2 3 Operating lease Right-of-use assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment when circumstances indicate the carrying value of an asset may not 360, September 30, 2022, 2021, Income Taxes The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, not not ASC Topic 740.10.30 740.10.40 no Stock-Based Compensation Stock-based compensation is measured at the grant date based on the estimated fair value of the award and is recognized as an expense over the requisite service period. The valuation of employee stock options is an inherently subjective process, since market values are generally not six · the stock option exercise price; · the expected term of the option; · the grant date price of our common stock, which is issuable upon exercise of the option; · the expected volatility of our common stock; · the expected dividends on our common stock (we do not anticipate paying dividends in the foreseeable future); and · the risk free interest rate for the expected option term. Expected Dividends. not Expected Volatility. not Risk-Free Interest Rate. zero Expected Term. Stock Option Exercise Price and Grant Date Price of Common Stock. We are required to estimate the level of award forfeitures expected to occur and record compensation expense only for those awards that are ultimately expected to vest. This requirement applies to all awards that are not Basic and Diluted Net Income Per Common Share Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method and as if converted method. Dilutive potential common shares include outstanding stock options. For the years ended September 30, 2022 and 2021, respectively, the following common stock equivalents were potentially dilutive. Years Ended September 30, 2022 2021 Stock options - 525,667 - 525,667 Related Party Balances and Transactions The Company follows FASB ASC 850, “ Related Party Disclosures Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may not not

Related Party Transactions

Related Party Transactions	12 Months Ended
	Sep. 30, 2022
Related Party Transactions
Related Party Transactions	3. Related Party Transactions On January 3, 2012, we entered into a perpetual license agreement (the “Perpetual License”) with Mastermind Marketing, Inc. (the “Licensor”), which provides for licenses of trademarks, internet domains, and certain intellectual property as defined in the Perpetual License. The Licensor is one of our members and its chief executive officer is also our chief executive officer. The Perpetual License, which may be terminated at any time by either party, is effective January 3, 2012 and provides for aggregate payments of $2,100,000 over the calendar years from 2019 through 2039 with no further payments required after December 31, 2039. The Company has recorded expenses related to the license of $60,000 and $60,000 for the years ended September 30, 2022 and 2021, respectively (Note 5). On January 3, 2014, we entered into a commercial lease agreement (the “Lease”) with 1450 West Peachtree, LLC, a Georgia limited liability company (the “Landlord”), for the lease of our corporate facility in Atlanta, Georgia. The manager of the Landlord is also our chief executive officer. The term of the lease is 10 years from the date of the agreement and provides for monthly rent and payment of operating expenses on a triple-net basis. The monthly rent terms of the lease have been altered by the landlord due to another tenant occupying space the Company verbally agreed to allow the landlord to remove from the space available to the Company. During the years ended September 30, 2022, and 2021, we made lease payments of $154,267 and $120,000, respectively, in satisfaction of our obligation pursuant to the Lease (Note 8). Subsequent to September 30, 2022, the Company and the landlord agreed to terminate the lease agreement as of December 31, 2022 with no penalties or additional payments required (Note 12). During the fiscal years ended September 30, 2022, and 2021, we made payments to our three members pursuant to the terms of our operating agreement, as amended, for services rendered to us. The Company recorded expenses to our three

Property and Equipment

Property and Equipment	12 Months Ended
	Sep. 30, 2022
Property and Equipment
Property and Equipment	4. Property and Equipment Property and equipment consist of the following: September 30, September 30, 2022 2021 Furniture, fixtures and office equipment $ 161,640 $ 145,987 Leasehold improvements 73,795 73,795 Property and equipment, gross 235,435 219,782 Less: accumulated depreciation (183,431) ) (160,287 ) Property and equipment, net $ 52,004 $ 59,495 Depreciation expense for the fiscal years ended September 30, 2022 2021,

Licensing Agreements

Licensing Agreements	12 Months Ended
	Sep. 30, 2022
Licensing Agreements
Licensing Agreements	5. Licensing Agreements On January 3, 2012, we entered into a perpetual license agreement (the “Perpetual License”) with Mastermind Marketing, Inc. (the “Licensor”), which provides for licenses of trademarks, internet domains, and certain intellectual property as defined in the Perpetual License. The Licensor is one of our members and its chief executive officer is also our chief executive officer. The Perpetual License, which may be terminated at any time by either party, is effective January 3, 2012 and provides for aggregate payments of $2,100,000 over the calendar years from 2019 through 2039 with no further payments required after December 31, 2039. The Company has recorded expenses of $60,000 and $60,000 for the years ended September 30, 2022 and 2021, respectively. In consideration for the Perpetual License, we agreed to pay the following fees through fiscal year 2040 (calendar year 2039): Fiscal Years Ending September 30, Amount 2023 $ 60,000 2024 60,000 2025 60,000 2026 120,000 2027 120,000 Thereafter 1,440,000 $ 1,860,000

PPP Loan Forgiveness

PPP Loan Forgiveness	12 Months Ended
	Sep. 30, 2022
PPP Loan Forgiveness
Loan Forgiveness	6. PPP Loan Forgiveness In April 2020, the Company received a loan pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), as administered by the U.S. Small Business Administration (the “SBA”). The loan is in the principal amount of $301,750 (the “PPP Loan”). The PPP loan was forgiven in June 2021 and the Company recognized a gain on PPP loan forgiveness in Other Income for the year ended September 30, 2021. In April 2021, the Company received a loan pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), as administered by the U.S. Small Business Administration (the “SBA”). The loan is in the principal amount of $478,538 (the “2nd PPP Loan”). The 2 nd

Operating lease right-of-use as

Operating lease right-of-use assets and operating lease liabilities	12 Months Ended
	Sep. 30, 2022
Operating lease right-of-use assets and operating lease liabilities
Operating lease right-of-use assets and operating lease liabilities	7. Operating Lease Right-of-Use Assets and Operating Lease Liabilities Operating lease right-of-use assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is our incremental borrowing rate, estimated to be 5.5%, as the interest rate implicit in our lease is not readily determinable. Operating lease expense is recognized pursuant to ASC Topic 842 Leases (Topic 842) over the lease term. During the years ended September 30, 2022, and 2021, the Company recorded rent expense of $154,267 and $239,273, respectively. In adopting Topic 842, the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. During the year ended September 30, 2020, upon adoption of ASC Topic 842 for the 10-year commercial lease with 1450 West Peachtree, LLC for our leased office space, the Company recorded right-of-use assets and lease liabilities of $461,740. The Right-of-use assets are summarized below: September 30, September 30, 2022 1 2021 Office Lease $ 461,740 $ 461,740 Less accumulated amortization (307,924 ) (199,643 ) Right-of-use, net $ 153,816 $ 262,097 Amortization on the right-of-use asset is included in general and administrative expense on the statements of operations. Operating lease liabilities are summarized below: September 30, September 30, 2022 1 2021 Lease liability $ 153,816 $ 262,097 Less: current portion (114,389 ) (108,281 ) Long term portion $ 39,427 $ 153,816 The maturities of lease liabilities are summarized below: As of September 30, 2022 1 2023 $ 120,000 2024 40,000 Total future minimum lease payments 160,000 Less imputed interest (6,184 ) PV of Payments $ 153,816 1

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies Operating Lease On January 3, 2014, we entered into a commercial lease agreement (the “Lease”) with 1450 West Peachtree, LLC, a Georgia limited liability company (the “Landlord”), for the lease of our corporate facility in Atlanta, Georgia. The manager of the Landlord is also our chief executive officer. The term of the lease is 10 years from the date of the agreement and provides for monthly rent and payment of operating expenses on a triple-net basis. The monthly rent terms of the lease have been altered by the landlord due to another tenant occupying space the Company verbally agreed to allow the landlord to remove from the space available to the Company. During the fiscal years ended September 30, 2022, and 2021, we made lease payments of $154,267 and $120,000, respectively, in satisfaction of our obligation pursuant to the Lease. The Lease provides for the following total lease commitments pursuant to the Lease and we have also provided our expected portion of the lease commitments based on the updated verbal agreement with the landlord (without consideration of early termination of the Lease in the subsequent period as discussed below): Total Lease Expected Lease Fiscal Years Ending September 30, Commitment 1 Commitment 2023 $ 384,000 $ 177,681 2024 97,500 45,419 $ 481,500 $ 223,100 1 Litigation On February 11, 2022, a Complaint and Demand for Jury Trial (the “Complaint”) was filed by a plaintiff (the “Plaintiff”) in the United States District Court for the Eastern District of Pennsylvania. The Complaint named Mastermind, Inc. (“the Company”) and Daniel Dodson, the Company’s Chief Executive Officer, (the “CEO”). The Company and the CEO are collectively referred to herein as “Defendants”. The Complaint includes alleged breach of contract and alleged breach of implied contract by the Defendants related to the Plaintiff’s allegations that he was entitled to 3,000,000 shares of common stock of the Company from the reverse merger transaction completed on February 14, 2018. The Defendants successfully got the Complaint transferred to the United States District Court for the Northern District of Georgia. The Defendants will contest the complaint and believe they will prevail. Other than the above we are not a party to any other legal proceedings, other than ordinary routine litigation incidental to our business, which we believe will not have a material effect on our financial position or results of operations.

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2022
Income Taxes
Income Taxes	9. Income Taxes Prior to February 14, 2018, the effective date of the Business Combination, no provision for income taxes was made since we were treated as a partnership for income tax purposes and the income or loss was passed through to our members. We are required to file federal and state income tax returns in the United States. The preparation of these tax returns requires us to interpret the applicable tax laws and regulations in effect in such jurisdictions, which could affect the amount of tax paid by us. In consultation with our tax advisors, we base our tax returns on interpretations that are believed to be reasonable under the circumstances. The tax returns, however, are subject to routine reviews by the various federal and state taxing authorities in the jurisdictions in which we file tax returns. As part of these reviews, a taxing authority may disagree with respect to the income tax positions taken by us (“uncertain tax positions”) and, therefore, may require us to pay additional taxes. As required under applicable accounting rules, we accrue an amount for our estimate of additional income tax liability, including interest and penalties, which we could incur as a result of the ultimate or effective resolution of the uncertain tax positions. We account for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry-forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established when necessary to reduce deferred tax assets to amounts expected to be realized. There were no unrecognized material tax benefits at September 30, 2022, and 2021. Our policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. There were no accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense recognized during the periods presented. We have determined we have no uncertain tax positions. Tax returns are subject to examination by the federal and state taxing authorities for generally three years after filed. There are no income tax examinations currently in process. Reconciliation between our effective tax rate and the United States statutory rate is as follows for the years ended September 30, 2022 and 2021: 2022 2021 Statutory federal tax rate 21.00 % 21.00 % State income tax rate 5.45 % 5.70 % Permanent differences (19.52 )% (26.70 )% Effective tax rate 6.93 % 0.00 % Significant components of our deferred tax assets and deferred tax liabilities consist of the following at September 30, 2022 2021 Deferred Tax Assets: Future net operating loss benefit $ (65,116 ) $ 116,515 Current liabilities 27,589 65,144 Deferred tax assets (37,527 ) 181,659 Deferred Tax Liabilities: Current assets 95,112 326,343 Deferred depreciation 114,066 23,490 Deferred tax liabilities 209,178 349,833 Net deferred tax liabilities $ 246,705 $ 168,174 The Company files it’s income tax returns on the cash basis of accounting utilizing a December 31 tax year end. Deferred tax assets relating to current liabilities result from accounts payable and accrued expenses which are not currently deductible for tax purposes. Deferred tax liabilities relating to current assets result from accounts receivables and prepaid expenses which are not currently recognized as income for tax reporting purposes. As of September 30, 2022, the Company has no net operating loss carryforwards that are available to offset future taxable income. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S international taxation from a worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. We have estimated our provision for income taxes in accordance with the Tax Act and guidance available as of the date of this filing.

Stockholders Equity

Stockholders Equity	12 Months Ended
	Sep. 30, 2022
Stockholders Equity
Stockholders' Equity	10. Stockholders Equity Preferred Stock As of September 30, 2022 and 2021, we were authorized to issue a total 1,000,000 shares of preferred stock. There were no shares of Preferred Stock issued or outstanding as of September 30, 2022 and 2021. Common Stock As of September 30, 2022 and 2021, we were authorized to issue a total of 125,000,000 shares of common stock. As of September 30, 2022, and 2021, there were 34,505,520 shares of common stock issued and outstanding, respectively. During the year ended September 30, 2022, the Company did not issue any shares of common stock. During the year ended September 30, 2021, the Company issued 635,000 shares of restricted common stock to three consultants in exchange for consulting services provided to the Company. The shares were valued at $0.10 per share. Common Stock to be Issued As per a vendor agreement entered into in October 2019, the Company paid in January of 2021 235,000 shares as compensation. The Company thereafter accrued 15,000 shares of $1,500 as common stock to be issued per month. As of September 30, 2022, the Company and the vendor have agreed that the total accrued shares of 225,000 valued at $22,500 (including 135,000 shares of $13,500 previously accrued as of September 30, 2021) are not payable and have been reversed. No further share issuances or accruals for the agreement are required. Dividends During the years ended September 30, 2022 and 2021, there were no dividends declared or paid. Common Stock Options As of September 30, 2022 there were no stock options outstanding or exercisable. As of September 30, 2022 the 525,667 options held by our former chief executive officer and sole director expired unexercised. As of September 30, 2021, there were fully-vested, non-qualified stock options exercisable by our former chief executive officer and sole director into 525,667 shares of our common stock at an exercise price of $0.15 per share with an expiration date of November 20, 2021. There were no stock options exercised or issued during the years ended September 30, 2022 and 2021. A 2018 Equity Incentive Plan consisting of four million (4,000,000) shares of Common Stock was also adopted by written consent of holders of 85% of the voting securities. No options or shares have been issued under this plan as of September 30, 2022 and 2021.

Concentration of Credit Risk an

Concentration of Credit Risk and Major Customers	12 Months Ended
	Sep. 30, 2022
Concentration of Credit Risk and Major Customers
Concentration of Credit Risk and Major Customers	11. Concentration of Credit Risk and Major Customers For the fiscal year ended September 30, 2022, three customers represented approximately 42%, 34% and 16%, respectively, of our total revenues. As of September 30, 2022, three customers represented approximately 44%, 34% and 17%, respectively of our outstanding accounts receivable and unbilled receivables. For the fiscal year ended September 30, 2021, three customers represented approximately 35%, 30% and 20%, respectively, of our total revenues. As of September 30, 2021, two customers represented approximately 79% and 11%, respectively of our outstanding accounts receivable and unbilled receivables.

Subsequent Events

Subsequent Events	12 Months Ended
	Sep. 30, 2022
Subsequent Events
Subsequent Events	12. Subsequent Events The Company has evaluated subsequent events through the date the financial statements were issued. The Company has determined that the below event warrants disclosure or recognition in the consolidated financial statements presented herein. Subsequent to September 30, 2022, the Company gave notice to our landlord for our leased office space to terminate the agreement as of December 31, 2022 with no payments due thereafter. The landlord agreed to the termination of the lease with no penalties and no additional payments required. The Company has adopted a fully remote work environment and no replacement office space is planned for.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Accounting Principles	The financial statements and accompanying notes are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).
Use of Accounting Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	Certain prior period amounts have been reclassified to conform with the current period presentation.
Cash and Cash Equivalents	Cash includes cash on hand. Cash equivalents include short-term, highly liquid investments, with a remaining maturity at the date of purchase of three
Accounts Receivable	We perform various analyses to evaluate accounts receivable balances and specifically identify those accounts which may not September 30, 2022 2021, September 30, 2022 2021, not
Unbilled Receivables	We perform various analyses to evaluate work performed that will give us future billings rights under current contracts with customers on jobs in progress. Under our revenue recognition policy and proportional revenue recognition, we recognize advanced services based on the buildup of cost related to these jobs in progress as unbilled receivables on our balance sheet when the earnings process has been completed and revenue is recognized before related invoices have been issued to our customers.
Property and Equipment	Property and equipment are stated at cost. Equipment is depreciated using the straight-line method over the estimated useful lives of the assets, ranging from three to seven years. Leasehold improvements are amortized using the straight-line method over the remaining estimated life of the lease at the time the improvement is put into service. Expenditures for repairs and maintenance are charged to expense as incurred.
Revenue Recognition	Revenue is recognized in accordance with the Accounting Standards Codification 606, five 606. 606 not The Company recognizes revenues based on the following steps: 1. contract with customer has been identified 2. performance obligations of the company have been identified 3. a transaction price has been determined 4. the price has been allocated appropriately to the performance obligations 5. performance obligations are satisfied.
Fair Value of Financial Instruments	We follow Accounting Standards Codification 820 10 820 10” 820 10 three The hierarchy established under ASC 820 10 1 3 three 820 10 Level 1 820 10, not Level 2 2 Level 3 3 no
Leases	The Company accounts for leases under ASC 842, “Leases”. 1 2 3 Operating lease Right-of-use assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not
Impairment of Long-Lived Assets	Long-lived assets are reviewed for impairment when circumstances indicate the carrying value of an asset may not 360, September 30, 2022, 2021,
Income Taxes	The Company uses the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, not not ASC Topic 740.10.30 740.10.40 no
Stock-Based Compensation	Stock-based compensation is measured at the grant date based on the estimated fair value of the award and is recognized as an expense over the requisite service period. The valuation of employee stock options is an inherently subjective process, since market values are generally not six · the stock option exercise price; · the expected term of the option; · the grant date price of our common stock, which is issuable upon exercise of the option; · the expected volatility of our common stock; · the expected dividends on our common stock (we do not anticipate paying dividends in the foreseeable future); and · the risk free interest rate for the expected option term. Expected Dividends. not Expected Volatility. not Risk-Free Interest Rate. zero Expected Term. Stock Option Exercise Price and Grant Date Price of Common Stock. We are required to estimate the level of award forfeitures expected to occur and record compensation expense only for those awards that are ultimately expected to vest. This requirement applies to all awards that are not
Basic and Diluted Net Income Per Common Share	Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method and as if converted method. Dilutive potential common shares include outstanding stock options. For the years ended September 30, 2022 and 2021, respectively, the following common stock equivalents were potentially dilutive. Years Ended September 30, 2022 2021 Stock options - 525,667 - 525,667
Related Party Balances and Transactions	The Company follows FASB ASC 850, “ Related Party Disclosures
Recent Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may not not

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Schedule Of Basic and Diluted Net Loss Per Common Share	Years Ended September 30, 2022 2021 Stock options - 525,667 - 525,667

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	12 Months Ended
	Sep. 30, 2022
Property and Equipment
Property and equipment consist	September 30, September 30, 2022 2021 Furniture, fixtures and office equipment $ 161,640 $ 145,987 Leasehold improvements 73,795 73,795 Property and equipment, gross 235,435 219,782 Less: accumulated depreciation (183,431) ) (160,287 ) Property and equipment, net $ 52,004 $ 59,495

Licensing Agreements (Tables)

Licensing Agreements (Tables)	12 Months Ended
	Sep. 30, 2022
Licensing Agreements (Tables)
perpetual license agreement	Fiscal Years Ending September 30, Amount 2023 $ 60,000 2024 60,000 2025 60,000 2026 120,000 2027 120,000 Thereafter 1,440,000 $ 1,860,000

Operating lease right-of-use _2

Operating lease right-of-use assets and operating lease liabilities (Tables)	12 Months Ended
	Sep. 30, 2022
Operating lease right-of-use assets and operating lease liabilities
Schedule of Right-of-use assets	September 30, September 30, 2022 1 2021 Office Lease $ 461,740 $ 461,740 Less accumulated amortization (307,924 ) (199,643 ) Right-of-use, net $ 153,816 $ 262,097
Schedule of Operating lease liabilities	September 30, September 30, 2022 1 2021 Lease liability $ 153,816 $ 262,097 Less: current portion (114,389 ) (108,281 ) Long term portion $ 39,427 $ 153,816
Schedule of maturities of lease liabilities	As of September 30, 2022 1 2023 $ 120,000 2024 40,000 Total future minimum lease payments 160,000 Less imputed interest (6,184 ) PV of Payments $ 153,816

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Sep. 30, 2022
Commitments and Contingencies
Schedule of Lease Commitment	Total Lease Expected Lease Fiscal Years Ending September 30, Commitment 1 Commitment 2023 $ 384,000 $ 177,681 2024 97,500 45,419 $ 481,500 $ 223,100

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2022
Income Taxes
Schedule of Effective Tax Rate	2022 2021 Statutory federal tax rate 21.00 % 21.00 % State income tax rate 5.45 % 5.70 % Permanent differences (19.52 )% (26.70 )% Effective tax rate 6.93 % 0.00 %
Schedule of Net Deferred Tax Liabilities	2022 2021 Deferred Tax Assets: Future net operating loss benefit $ (65,116 ) $ 116,515 Current liabilities 27,589 65,144 Deferred tax assets (37,527 ) 181,659 Deferred Tax Liabilities: Current assets 95,112 326,343 Deferred depreciation 114,066 23,490 Deferred tax liabilities 209,178 349,833 Net deferred tax liabilities $ 246,705 $ 168,174

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - shares	Sep. 30, 2022	Sep. 30, 2021
Summary of Significant Accounting Policies (Details)
Stock options	0	525,667
Total stock options	0	525,667

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)		12 Months Ended
	Jan. 03, 2014	Sep. 30, 2022	Sep. 30, 2021	Jan. 03, 2012
Related Party Transaction, Amounts of Transaction		$ 100,000
Related Party Transaction, Expenses from Transactions with Related Party		875,165	$ 741,687
Finite-Lived License Agreements, Gross		2,100,000
Operating Lease, Expense		154,267	120,000
Licensor [Member]
Finite-Lived License Agreements, Gross				$ 2,100,000
Operating Lease, Expense		60,000	60,000
Landlord [Member]
Operating Lease, Expense		154,267	120,000
Lessee, operating lease, term of contract	10 years
License Agreement [Member] | Licensor [Member]
Due to Related Parties		$ 0	$ 100,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Consolidated Balance Sheets
Furniture, fixtures and office equipment	$ 161,640	$ 145,987
Leasehold improvements	73,795	73,795
Property and equipment, gross	235,435	219,782
Less: accumulated depreciation	(183,431)	(160,287)
Property and equipment, net	$ 52,004	$ 59,495

Property and Equipment (Detai_2

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Consolidated Balance Sheets
Depreciation Expences	$ 23,144	$ 21,722

Licensing Agreements (Details)

Licensing Agreements (Details) - License Agreement [Member] - Licensor [Member]	Sep. 30, 2022 USD ($)
2023	$ 60,000
2024	60,000
2025	60,000
2026	120,000
2027	120,000
Thereafter	1,440,000
Total	$ 1,860,000

Licensing Agreements (Details N

Licensing Agreements (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Consolidated Balance Sheets
Finite-Lived License Agreements, Gross	$ 2,100,000
Expenses	$ 60,000	$ 60,000

PPP Loan Forgiveness (Details N

PPP Loan Forgiveness (Details Narrative) - USD ($)	1 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
PPP Loan Forgiveness
loan iprincipal amount	$ 478,538	$ 301,750

Operating lease right-of-use _3

Operating lease right-of-use assets and operating lease liabilities (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Operating lease right-of-use assets and operating lease liabilities
Office lease	$ 461,740	$ 461,740
Less accumulated amortization	(307,924)	(199,643)
Right-of-us assets, net	$ 153,816	$ 262,097

Operating lease right-of-use _4

Operating lease right-of-use assets and operating lease liabilities (Details 1) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Operating lease right-of-use assets and operating lease liabilities
Lease liability	$ 153,816	$ 262,097
Less current portion	(114,389)	(108,281)
Long term portion	$ 39,427	$ 153,816

Operating lease right-of-use _5

Operating lease right-of-use assets and operating lease liabilities (Details 2) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Operating lease right-of-use assets and operating lease liabilities
2023	$ 120,000
2024	40,000
Total future minimum lease payments	160,000
Less imputed interest	(6,184)
PV of Payments	$ 153,816	$ 262,097

Operating lease right-of-use _6

Operating lease right-of-use assets and operating lease liabilities (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating lease right-of-use assets and operating lease liabilities
Right-of-use assets and lease liabilities	$ 461,740
Borrowing rate	5.50%
Rent expense	$ 154,267	$ 239,273

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Total	$ 160,000
The Lease Commitment [Member]
2023		$ 384,000
2024		97,500
Total		481,500
Expected Lease Commitment [Member]
2023		177,681
2024		45,419
Total		$ 223,100

Commitments and Contingencies_3

Commitments and Contingencies (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Feb. 11, 2022
Commitments and Contingencies
Operating Lease, Expense	$ 154,267	$ 120,000
Loss contingency, damages sought, shares of common stock			3,000,000

Income Taxes (Details)

Income Taxes (Details)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Taxes (Details)
Statutory federal tax rate	21%	21%
State income tax rate	5.45%	5.70%
Permanent differences	(19.52%)	(26.70%)
Effective tax rate	6.93%	0%

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Income Taxes (Details)
Future net operating loss benefit	$ (65,116)	$ 116,515
Current liabilities	27,589	65,144
Deferred tax assets	(37,527)	181,659
Deferred Tax Liabilities:
Current assets	95,112	326,343
Deferred Tax Assets:
Deferred depreciation	114,066	23,490
Deferred tax liabilities	209,178	349,833
Net deferred tax liabilities	$ 246,705	$ 168,174

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	1 Months Ended
	Dec. 22, 2017
Consolidated Balance Sheets
Description of FederalCorporateTaxRate	decrease from 35% to 21%

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Share issued as compensation	235,000
Common stock available for issuence, shares	15,000
Common stock available for issuence, amount	$ 1,500
Accrued share reversed		225,000	135,000
Accrued share reversed, amount		$ 22,500	$ 13,500
Common Stock, Shares Authorized (in shares)		125,000,000	125,000,000
Common Stock, Shares, Issued, Total (in shares)		34,505,520	34,505,520
Common Stock, Shares, Outstanding, Ending Balance (in shares)		34,505,520	34,505,520
Preferred Stock, Shares Authorized (in shares)		1,000,000	1,000,000
Shares of common stock issued and to be issued for services, shares			635,000
Restricted common stock Par Or Stated Value Per Share			$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expired, Number, Ending Balance (in shares)		525,667	525,667
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)			$ 0.15
Expiration date		Nov. 20, 2021
The 2018 Equity Incentive Plan [Member]
Common Stock, Capital Shares Reserved For Future (in shares) Issuance		4,000,000
Percentage of voting securities		85%

Concentration of Credit Risk _2

Concentration of Credit Risk and Major Customers (Details Narrative) - Customer Concentration Risk [Member] - integer	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable [Member]
Number of Major Customers	3	2
Revenue from Contract with Customer Benchmark [Member]
Number of Major Customers	3	3
Customer 3 [Member] | Accounts Receivable [Member]
Concentration Risk, Percentage	17%
Customer 3 [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentration Risk, Percentage	16%	20%
Customer 1 [Member] | Accounts Receivable [Member]
Concentration Risk, Percentage	44%	79%
Customer 1 [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentration Risk, Percentage	42%	35%
Customer 2 [Member] | Accounts Receivable [Member]
Concentration Risk, Percentage	34%	11%
Customer 2 [Member] | Revenue from Contract with Customer Benchmark [Member]
Concentration Risk, Percentage	34%	30%