Cover
Cover - shares | 6 Months Ended | |
Mar. 31, 2023 | May 12, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --09-30 | |
Entity File Number | 000-52218 | |
Entity Registrant Name | Theralink Technologies, Inc. | |
Entity Central Index Key | 0001362703 | |
Entity Tax Identification Number | 20-2590810 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 15000 W. 6th Avenue | |
Entity Address, Address Line Two | Suite 400 | |
Entity Address, City or Town | Golden | |
Entity Address, State or Province | CO | |
Entity Address, Postal Zip Code | 80401 | |
City Area Code | (720) | |
Local Phone Number | 420-0074 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,151,499,919 |
Balance Sheets
Balance Sheets - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
CURRENT ASSETS: | ||
Cash | $ 207,922 | $ 393,460 |
Accounts receivable, net | 40,610 | 32,125 |
Prepaid expenses and other current assets | 194,645 | 217,699 |
Marketable securities | 900 | 3,700 |
Total Current Assets | 444,077 | 646,984 |
OTHER ASSETS: | ||
Property and equipment, net | 612,595 | 686,127 |
Finance right-of-use assets, net | 41,770 | 64,954 |
Operating right-of-use asset, net | 1,129,858 | 1,154,861 |
Deferred offering costs | 27,270 | |
Security deposits | 18,715 | 18,715 |
Total Assets | 2,247,015 | 2,598,911 |
CURRENT LIABILITIES: | ||
Accrued liabilities | 308,712 | 268,021 |
Accrued liabilities - related parties | 304,212 | 76,927 |
Accrued compensation | 384,012 | 383,295 |
Accrued director compensation | 222,500 | 192,500 |
Contract liabilities | 274,515 | 156,550 |
Convertible notes, net of discount | 2,886,451 | |
Convertible notes - related parties, net of discount | 3,015,627 | 1,000,000 |
Financing lease liability - current | 48,145 | 53,995 |
Operating lease liability - current | 28,401 | 25,551 |
Insurance payable | 49,943 | 122,295 |
Derivative liabilities | 44,825,486 | |
Contingent liabilities | 82,040 | 78,440 |
Total Current Liabilities | 53,422,393 | 3,455,720 |
LONG-TERM LIABILITIES: | ||
Financing lease liability | 14,078 | 34,390 |
Operating lease liability | 1,142,780 | 1,157,761 |
Convertible notes - related parties net of discount, net of current portion | 1,305,814 | |
Convertible notes, net of discount | 446,281 | |
Total Liabilities | 54,579,251 | 6,399,966 |
Commitments and Contingencies (Note 10) | ||
Temporary equity value | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Common stock: $0.0001 par value, 100,000,000,000 shares authorized; 6,151,499,919 issued and outstanding on March 31, 2023 and September 30, 2022 | 615,150 | 615,150 |
Additional paid-in capital | 54,922,612 | 55,391,612 |
Accumulated deficit | (107,869,998) | (62,807,817) |
Total Stockholders’ Deficit | (52,332,236) | (6,801,055) |
Total Liabilities and Stockholders’ Deficit | 2,247,015 | 2,598,911 |
Series E Preferred Stock [Member] | ||
LONG-TERM LIABILITIES: | ||
Temporary equity value | 2,000,000 | |
Series F Preferred Stock [Member] | ||
LONG-TERM LIABILITIES: | ||
Temporary equity value | 1,000,000 | |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Series C-1 Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Series C-2 Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Series D-1 Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Series D-2 Preferred Stock [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Preferred stock value | ||
Nonrelated Party [Member] | ||
CURRENT LIABILITIES: | ||
Accounts payable - related parties | 628,416 | 730,923 |
Notes payable - current | 1,000 | 1,000 |
Related Party [Member] | ||
CURRENT LIABILITIES: | ||
Accounts payable - related parties | 12,933 | 16,223 |
Notes payable - current | $ 350,000 | $ 350,000 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 26,667 | 26,667 |
Common stock par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000,000 | 100,000,000,000 |
Common stock, shares issued | 6,151,499,919 | 6,151,499,919 |
Common stock, shares outstanding | 6,151,499,919 | 6,151,499,919 |
Series E Preferred Stock [Member] | ||
Temporary equity, par or stated value per share | $ 0.0001 | $ 0.0001 |
Temporary equity, shares authorized | 2,000 | 2,000 |
Temporary equity, shares issued | 1,000 | |
Temporary equity, shares outstanding | 1,000 | |
Temporary equity, liquidation preference | $ 0 | $ 2,040,329 |
Series F Preferred Stock [Member] | ||
Temporary equity, par or stated value per share | $ 0.0001 | $ 0.0001 |
Temporary equity, shares authorized | 2,000 | 2,000 |
Temporary equity, shares issued | 500 | |
Temporary equity, shares outstanding | 500 | |
Temporary equity, liquidation preference | $ 0 | $ 1,020,164 |
Series A Preferred Stock [Member] | ||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,333 | 1,333 |
Preferred stock, shares issued | 667 | 667 |
Preferred stock, shares outstanding | 667 | 667 |
Series C-1 Preferred Stock [Member] | ||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 3,000 | 3,000 |
Preferred stock, shares issued | 141 | 1,043 |
Preferred stock, shares outstanding | 141 | 1,043 |
Series C-2 Preferred Stock [Member] | ||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 6,000 | 6,000 |
Preferred stock, shares issued | 3,037 | |
Preferred stock, shares outstanding | 3,037 | |
Series D-1 Preferred Stock [Member] | ||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Series D-2 Preferred Stock [Member] | ||
Preferred stock, par or stated value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 4,360 | 4,360 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
REVENUES, NET | $ 169,787 | $ 19,500 | $ 225,082 | $ 98,475 |
COST OF REVENUE | 25,426 | 17,180 | 36,244 | 60,745 |
GROSS PROFIT | 144,361 | 2,320 | 188,838 | 37,730 |
OPERATING EXPENSES: | ||||
Professional fees | 461,911 | 297,753 | 849,349 | 515,576 |
Compensation expense | 1,400,495 | 702,633 | 3,153,194 | 1,328,488 |
Licensing fees | 5,222 | 38,963 | 36,859 | 75,055 |
General and administrative expenses | 422,987 | 523,264 | 871,480 | 1,060,920 |
Total Operating Expenses | 2,290,615 | 1,562,613 | 4,910,882 | 2,980,039 |
LOSS FROM OPERATIONS | (2,146,254) | (1,560,293) | (4,722,044) | (2,942,309) |
OTHER EXPENSES: | ||||
Interest expense, net | (4,892,017) | (267,202) | (6,739,052) | (402,853) |
Loss on debt extinguishment, net | (5,434,447) | |||
Unrealized loss on marketable securities | (800) | (8,500) | (2,800) | (3,100) |
Settlement expense | (200,000) | |||
Derivative expense | (1,527,311) | (27,924,386) | ||
Total Other Expenses, net | (6,420,128) | (275,702) | (40,300,685) | (405,953) |
NET LOSS | (8,566,382) | (1,835,995) | (45,022,729) | (3,348,262) |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (8,566,382) | $ (1,895,174) | $ (45,062,181) | $ (3,467,934) |
NET LOSS PER COMMON SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS: | ||||
Basic and Diluted | $ 0 | $ 0 | $ (0.01) | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
Basic and Diluted | 6,151,499,919 | 5,596,220,371 | 6,151,499,846 | 5,715,133,330 |
Series E Preferred Stock [Member] | ||||
OTHER EXPENSES: | ||||
Preferred stock dividend | $ (39,452) | $ (26,301) | $ (79,781) | |
Series F Preferred Stock [Member] | ||||
OTHER EXPENSES: | ||||
Preferred stock dividend | $ (19,727) | $ (13,151) | $ (39,891) |
Statement of Changes in Stockho
Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Preferred Stock [Member] Series C-1 Preferred Stock [Member] | Preferred Stock [Member] Series C-2 Preferred Stock [Member] | Preferred Stock [Member] Series A Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] Series C-1 Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | Series C-1 Preferred Stock [Member] |
Balance at Sep. 30, 2021 | $ 512,416 | $ 44,368,077 | $ (49,825,855) | $ (4,945,362) | ||||||
Balance, shares at Sep. 30, 2021 | 2,966 | 4,917 | 667 | 5,124,164,690 | ||||||
Series E preferred stock dividend | (40,329) | (40,329) | ||||||||
Series F preferred stock dividend | (20,164) | (20,164) | ||||||||
Net loss | (1,512,267) | (1,512,267) | ||||||||
Relative fair value of warrants issued in connection with convertible notes - related party recorded as debt discount | 661,088 | 661,088 | ||||||||
Relative fair value of warrant issued in connection with convertible notes recorded as debt discount | 991,120 | 991,120 | ||||||||
Correction for rounding error | ||||||||||
Correction for rounding error, shares | (1,436) | |||||||||
Balance at Dec. 31, 2021 | $ 512,416 | 46,020,285 | (51,398,615) | (4,865,914) | ||||||
Balance, shares at Dec. 31, 2021 | 2,966 | 4,917 | 667 | 5,124,163,254 | ||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | ||||||
Balance, shares at Sep. 30, 2021 | 2,966 | 4,917 | 667 | 5,124,164,690 | ||||||
Net loss | (3,348,262) | |||||||||
Balance at Mar. 31, 2022 | $ 602,650 | 48,772,446 | (53,293,789) | (3,918,693) | ||||||
Balance, shares at Mar. 31, 2022 | 1,876 | 3,037 | 667 | 6,026,499,919 | ||||||
Balance at Sep. 30, 2021 | $ 512,416 | 44,368,077 | (49,825,855) | (4,945,362) | ||||||
Balance, shares at Sep. 30, 2021 | 2,966 | 4,917 | 667 | 5,124,164,690 | ||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | 288,637,529 | 1,923 | ||||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | ||||||
Balance, shares at Sep. 30, 2022 | 1,043 | 3,037 | 667 | 6,151,499,919 | ||||||
Balance at Dec. 31, 2021 | $ 512,416 | 46,020,285 | (51,398,615) | (4,865,914) | ||||||
Balance, shares at Dec. 31, 2021 | 2,966 | 4,917 | 667 | 5,124,163,254 | ||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock, shares | $ 16,364 | (16,364) | ||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | (1,090) | 163,637,529 | ||||||||
Series E preferred stock dividend | (39,452) | (39,452) | ||||||||
Series F preferred stock dividend | (19,727) | (19,727) | ||||||||
Net loss | (1,835,995) | (1,835,995) | ||||||||
Relative fair value of warrants issued in connection with convertible notes - related party recorded as debt discount | 331,969 | 331,969 | ||||||||
Issuance of common stock in connection with conversion of Series C-2 preferred stock | $ 28,048 | (28,048) | ||||||||
Issuance of common stock in connection with conversion of series C-2 preferred stock, shares | (1,880) | 280,475,491 | ||||||||
Issuance of common stock in connection with settlement of accounts payable | $ 2,691 | 81,549 | 84,240 | |||||||
Issuance of common stock in connection with settlement of accounts payable, shares | 26,913,738 | |||||||||
Issuance of common stock in connection with subscriptions payable | $ 43,131 | 1,306,869 | 1,350,000 | |||||||
Issuance of common stock in connection with subscriptions payable, shares | 431,309,907 | |||||||||
Relative fair value of warrants issued in connection with convertible notes recorded as debt discount | 996,708 | 996,708 | ||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes - related party recorded as debt discount | 34,620 | 34,620 | ||||||||
Relative fair value of additional warrants issued in connection with modification of convertible notes recorded as debt discount | 44,858 | 44,858 | ||||||||
Balance at Mar. 31, 2022 | $ 602,650 | 48,772,446 | (53,293,789) | (3,918,693) | ||||||
Balance, shares at Mar. 31, 2022 | 1,876 | 3,037 | 667 | 6,026,499,919 | ||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | ||||||
Balance, shares at Sep. 30, 2022 | 1,043 | 3,037 | 667 | 6,151,499,919 | ||||||
Accretion of stock option expense | 612,173 | 612,173 | ||||||||
Issuance of common stock in connection with conversion of Series C-1 preferred stock, shares | (1,618,238) | (1,618,238) | ||||||||
Issuance of common stock in connection with conversion of series C-1 preferred stock, shares | (902) | (3,037) | ||||||||
Series E preferred stock dividend | (26,301) | (26,301) | ||||||||
Series F preferred stock dividend | (13,151) | (13,151) | ||||||||
Net loss | (36,456,347) | (36,456,347) | ||||||||
Balance at Dec. 31, 2022 | $ 615,150 | 54,385,547 | (99,303,616) | (44,302,919) | ||||||
Balance, shares at Dec. 31, 2022 | 141 | 667 | 6,151,499,919 | |||||||
Balance at Sep. 30, 2022 | $ 615,150 | 55,391,612 | (62,807,817) | (6,801,055) | ||||||
Balance, shares at Sep. 30, 2022 | 1,043 | 3,037 | 667 | 6,151,499,919 | ||||||
Net loss | (45,022,729) | |||||||||
Balance at Mar. 31, 2023 | $ 615,150 | 54,922,612 | (107,869,998) | (52,332,236) | ||||||
Balance, shares at Mar. 31, 2023 | 141 | 667 | 6,151,499,919 | |||||||
Balance at Dec. 31, 2022 | $ 615,150 | 54,385,547 | (99,303,616) | (44,302,919) | ||||||
Balance, shares at Dec. 31, 2022 | 141 | 667 | 6,151,499,919 | |||||||
Accretion of stock option expense | 537,065 | 537,065 | ||||||||
Net loss | (8,566,382) | (8,566,382) | ||||||||
Balance at Mar. 31, 2023 | $ 615,150 | $ 54,922,612 | $ (107,869,998) | $ (52,332,236) | ||||||
Balance, shares at Mar. 31, 2023 | 141 | 667 | 6,151,499,919 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (45,022,729) | $ (3,348,262) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation on property and equipment and finance ROU assets | 104,696 | 95,113 |
Non-cash lease cost | 12,872 | 14,606 |
Accretion of stock option expense | 1,149,238 | |
Amortization of debt discount | 6,056,696 | 276,170 |
Loss on debt extinguishment | 5,434,447 | |
Non-cash bad debt | 7,500 | |
Unrealized loss on marketable securities | 2,800 | 3,100 |
Non-cash settlement expense | 200,000 | |
Derivative expense | 27,924,386 | |
Gain on modification of operating lease | (8,229) | |
Change in operating assets and liabilities: | ||
Accounts receivable | (15,985) | (137,038) |
Prepaid expenses and other current assets | 23,054 | (47,354) |
Laboratory supplies | 71,062 | |
Accounts payable | (105,797) | (87,201) |
Accrued liabilities and other liabilities | 592,888 | 149,795 |
Contract liabilities | 117,965 | 198,563 |
NET CASH USED IN OPERATING ACTIVITIES | (3,517,969) | (2,819,675) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (7,980) | (4,711) |
NET CASH USED IN INVESTING ACTIVITIES | (7,980) | (4,711) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from convertible debt - related parties, net | 536,562 | 1,000,000 |
Proceeds from convertible debt, net | 2,950,011 | 2,000,000 |
Proceeds of notes payable - related parties | 250,000 | |
Repayment of notes payable– related party | (150,000) | |
Repayment of convertible notes payable - related parties | (120,000) | |
Repayment of financed lease | (26,162) | (23,132) |
Payments for preferred stock dividends | (119,166) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 3,340,411 | 2,957,702 |
NET (DECREASE) INCREASE IN CASH | (185,538) | 133,316 |
CASH, beginning of the period | 393,460 | 314,151 |
CASH, end of the period | 207,922 | 447,467 |
Cash paid during the period for: | ||
Interest | 6,243 | 58,052 |
Income taxes | ||
Non-cash investing and financing activities: | ||
Series E preferred stock dividend | 26,301 | 79,781 |
Series F preferred stock dividend | 13,151 | 39,891 |
Initial amount of operating ROU asset and related liability | 1,212,708 | |
Relative fair value of warrant issued in connection with convertible notes - related party recorded as debt discount | 993,057 | |
Relative fair value of warrant issued in connection with convertible notes recorded as debt discount | 1,987,828 | |
Initial fair value of derivative liabilities recorded as debt discount - related parties | 8,837,284 | |
Initial fair value of derivative liabilities recorded as debt discount | 8,063,816 | |
Exchange of preferred stock and accrued dividends for convertible debt - related parties | 3,099,945 | |
Exchange of preferred stock for convertible debt | 1,618,238 | |
Exchange of accrued interest payable for convertible debt - related parties | 129,079 | |
Exchange of accrued interest payable for convertible debt | $ 173,375 |
ORGANIZATION AND NATURE OF OPER
ORGANIZATION AND NATURE OF OPERATIONS | 6 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND NATURE OF OPERATIONS | NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS Theralink Technologies, Inc., formerly OncBioMune Pharmaceuticals, Inc. (the “Company”), was a clinical-stage biopharmaceutical company engaged in the development of novel cancer immunotherapy products, with a proprietary vaccine technology. On June 5, 2020, the Company acquired the assets (the “Asset Sale Transaction”) of Avant Diagnostics, Inc., a Nevada corporation established in 2009 (“Avant”) pursuant to the Asset Purchase Agreement dated May 12, 2020, between the Company and Avant (the “Asset Purchase Agreement”). Avant is a commercial-stage precision medicine and molecular data-generating company that focuses on the development and commercialization of a series of patented, proprietary data-generating assays that may provide important actionable information for physicians and patients, as well as biopharmaceutical companies, in the area of oncology. Pursuant to the Asset Purchase Agreement, the Company acquired substantially all the assets of Avant and assumed certain of its liabilities. Upon the terms and subject to the conditions of the Asset Purchase Agreement, Avant sold to the Company, all of Avant’s title and interest in all the assets, properties and rights of every kind and nature, whether real, personal or mixed, tangible or intangible (including goodwill), wherever located and whether existing or hereafter acquired, except for the specific excluded assets, which relate to, or are used or held for use in connection with, Avant’s business. The Company also hired Avant’s employees upon consummation of the Asset Sale Transaction. As consideration for the Asset Sale Transaction, the Company issued to Avant 1,000 54.55 6,666,667 12,000,000,000 5,081,549,184 . 54.55 On July 11, 2021, the Company’s wholly-owned subsidiary, OncBioMune, LLC, was administratively dissolved by the Louisiana Secretary of State for failing to meet its filing requirements and pay the associated fees. In connection with the Asset Sale Transaction, the Company entered into an Exchange Agreement, effective June 5, 2020, by and among OncBioMune Pharmaceuticals, Inc. and the investors named therein, whereby the Company agreed to exchange certain convertible promissory notes and warrants outstanding for shares of Series C-1 Convertible Preferred Stock of the Company and options to purchase shares of the Company’s wholly-owned subsidiary, OncBioMune Sub Inc. OncBioMune Sub Inc. holds the patents used in the prior business of OncBioMune Pharmaceuticals, Inc. In July 2021, certain of those investors exercised their options to purchase the shares of OncBioMune Sub Inc. On July 26, 2021, the Company transferred all 10,000 1,000 On February 25, 2022, FINRA recognized the Company’s name change to Theralink Technologies, Inc. and the related ticker symbol change from “OBMP” to “THER” went into effect. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying interim unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information, which present the unaudited financial statements of the Company as of March 31, 2023. The interim unaudited financial statements do not include all the information and notes necessary for a comprehensive presentation of financial position and results of operations and should be read in conjunction with the September 30, 2022 audited financial statements on Form 10-K filed on December 29, 2022. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments and non-recurring adjustments) have been made for the fair presentation of the unaudited financial statements. The results for the interim period are not necessarily indicative of the results to be expected for the year ending September 30, 2023. Going Concern These unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had net loss and net cash used in operations of $ 45,022,729 3,517,969 107,869,998 52,332,236 52,978,316 207,922 The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes, convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the periods ended March 31, 2023 and 2022 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use ROU assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances, the fair value of derivative liabilities, and the fair value of non-cash equity transactions. Fair Value of Financial Instruments and Fair Value Measurements FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on March 31, 2023. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, contract liabilities, and accrued compensation approximate their fair market value based on the short-term maturity of these instruments. Assets or liabilities measured at fair value or a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on March 31, 2023 and September 30, 2022: SCHEDULE OF FAIR VALUE MEASURED ON RECURRING BASIS March 31, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 44,825,486 $ — $ — $ — A roll forward of the level 3 valuation financial instruments is as follows: SCHEDULE OF VALUATION ON DERIVATIVE INSTRUMENTS 2023 2022 For the Six Months Ended March 31, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 16,901,100 - Initial valuation of derivative liabilities included in derivative expense 27,252,483 - Change in fair value included in derivative expense 671,903 - Balance at end of period $ 44,825,486 $ - ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of March 31, 2023 and September 30, 2022 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. SCHEDULE OF REVENUES BY CATEGORY Six Months Ended Six Months Ended Biopharma services $ 156,555 $ 87,975 Patient testing service 68,527 10,500 Total revenues $ 225,082 $ 98,475 The revenue recognized from services provided to private individuals during the three and six months ended March 31, 2023 and 2022 were minimal and therefore were not disaggregated for disclosure purposes. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. For the six months ended March 31, 2023 and 2022, contract liabilities activity is as follows: SCHEDULE OF CONTRACT LIABILITIES March 31, 2023 March 31, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 220,813 Less: revenues recognized during the period (41,500 ) (22,250 ) Total contract liabilities $ 274,515 $ 333,713 During the six months ended March 31, 2023, the Company recognized $ 3,500 3,500 Cost of Revenue The cost of revenue consists of the cost of labor, supplies and materials. Accounts Receivable and Allowance for Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. Research and Development In fiscal 2022, the Company joined and made an investment in an investigator-initiated study. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples for the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in September 2021 50,000 50,000 Derivative Liabilities The Company has certain financial instruments that are embedded derivatives associated with capital raises. The Company evaluates all its financial instruments to determine if those contracts or any potential embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10 - Derivative and Hedging - Contract in Entity’s Own Equity Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 0 186,466 Concentration of Revenues For the six months ended March 31, 2023, the Company generated total revenue of $ 225,082 36.7 14.3 32.8 98,475 45 44 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Concentration of Accounts Receivable As of March 31, 2023, the Company had net accounts receivable of $ 40,610 84 32,125 59 41 Concentration of Contract Liabilities As of March 31, 2023, the Company had deferred revenue reflected as contract liabilities of $ 274,515 81 11 156,550 65 24 Concentration of Vendors Historically, the Company relied on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the six months ended March 31, 2023 and 2022, the Company incurred $ 0 198,866 Basic and Diluted Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following potentially dilutive equity securities outstanding as of March 31, 2023 and 2022 were not included in the computation of dilutive loss per common share because the effect would have been anti-dilutive: SCHEDULE OF ANTI-DILUTIVE SHARES OUTSTANDING 2023 2022 March 31, 2023 2022 Stock warrants 7,200,020,533 1,820,535,692 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 281,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 18,235,327,665 1,139,160,949 Total antidilutive securities excluded from computation of earnings 27,357,926,252 4,652,856,399 Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represent the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the unaudited statements of operations. Recent Accounting Pronouncements On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASC 326). The standard replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. Further, the FASB issued ASU 2019-04 and ASU 2019-05 to provide additional guidance on the credit losses standard. While the adoption of ASC 326 could result in a higher allowance recorded in the future for credit losses on receivables within the scope of the standard due to the prescribed measurement principles, the impact of the adoption on the Company’s consolidated financial statements was not material. Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 6 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
MARKETABLE SECURITIES | NOTE 3 – MARKETABLE SECURITIES During the fiscal year ended 2017, the Company acquired 1,000,000 40,980 2,800 3,100 900 3,700 |
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE | 6 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
ACCOUNTS RECEIVABLE | NOTE 4 – ACCOUNTS RECEIVABLE On March 31, 2023 and September 30, 2022, accounts receivable consisted of the following: SCHEDULE OF ACCOUNTS RECEIVABLE March 31, 2023 September 30, 2022 Accounts receivable $ 48,110 $ 35,957 Less: allowance for doubtful accounts (7,500 ) (3,832 ) Accounts receivable, net $ 40,610 $ 32,125 For the six months ended March 31, 2023 and 2022, bad debt expense amounted to $ 3,672 0 3,832 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment are recorded at cost. Once placed in service, they are depreciated on the straight-line method over their estimated useful lives. Leasehold improvements are accreted over the shorter of the estimated economic life or related lease terms. Property and equipment consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT Estimated Useful Life in Years March 31, 2023 September 30, 2022 Laboratory equipment 5 $ 597,059 $ 597,059 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 353,826 Computer equipment 3 76,470 68,490 Property and equipment gross 1,051,922 1,043,942 Less accumulated depreciation (439,327 ) (357,815 ) Property and equipment, net $ 612,595 $ 686,127 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) For the three months ended March 31, 2023 and 2022, depreciation expense related to property and equipment amounted to $ 42,625 35,974 For the six months ended March 31, 2023 and 2022, depreciation expense related to property and equipment amounted to $ 81,512 71,929 Leased equipment was not included in the table above as it was accounted for in accordance with ASU 842 – Leases financing lease right-of-use (“ROU”) assets and financing lease liabilities. |
DEBT
DEBT | 6 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 6 – DEBT On March 31, 2023 and September 30, 2022, convertible notes payable (third parties and related parties) consisted of the following: SCHEDULE OF CONVERTIBLE NOTES PAYABLE March 31, 2023 September 30, 2022 Principal amount $ 8,986,605 $ 2,475,000 Less: debt discount (6,100,154 ) (2,028,719 ) Convertible notes payable, net 2,886,451 446,281 Less: current portion of convertible notes payable - related parties (2,886,451 ) - Convertible notes payable, net – long-term $ - $ 446,281 Principal amount – related parties $ 8,975,192 $ 4,150,000 Less: debt discount – related parties (5,959,565 ) (1,844,186 ) Convertible notes payable - related parties, net 3,015,627 2,305,814 Less: current portion of convertible notes payable - related parties (3,015,627 ) (1,000,000 ) Convertible notes payable - related parties, net – long-term $ - $ 1,305,814 Total convertible notes payable, net $ 5,902,078 $ 2,752,095 Convertible Debt – Related Parties On May 12, 2021, the Company entered into a Securities Purchase Agreement (“May 2021 SPA”) with a related party, who is an affiliate stockholder (“May 2021 Investor”) to purchase a convertible note (“May 2021 Note”) and accompanying 63,897,764 1,000,000 1,000,000 8 May 12, 2026 333,334 333,333 333,333 0.00313 1,000,000 20,164 267,521 732,479 0.00313 May 12, 2026 984,200 15,800 1,000,000 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“First November 2021 SPA”) with a related party, who is an affiliate stockholder (“First November 2021 Investor”), to purchase three convertible notes (collectively as “First November 2021 Notes”) and three accompanying warrants (collectively as “First November 2021 Warrants”), for an aggregate investment amount of $ 1,000,000 334,000 18,251,367 333,000 18,196,722 333,000 18,196,722 1,000,000 8 November 1, 2026 990,048 0.00366 the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. 218,579,234 34,620 Debt Modifications and Exchanges; 1,000,000 20,164 140,093 859,907 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On April 5, 2022, the Company entered into a Securities Purchase Agreement (“First April 2022 SPA”) with a related party, Matthew Schwartz, who is a member of the board of directors (“Investor”), to purchase a convertible note with a principal balance of $ 100,000 4,201,681 100,000 89,815 8 0.00476 100,000 3,901 18,959 81,041 On May 9, 2022, the Company entered into a Securities Purchase Agreement (“May 2022 SPA”) with a related party, who is an affiliate stockholder (“May 2022 Investor”), to purchase four convertible notes for an aggregate investment amount of $ 1,000,000 20 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 250,000 10,504,202 1,000,000 8 April 1, 2027 178,449 0.00476 1,000,000 20,110 834,803 On June 15, 2022, the Company entered into a Securities Purchase Agreement (“June 2022 SPA”) with a related party, Danica Holley, who is a member of the board of directors (“Investor”), to purchase a convertible note with principal of $ 50,000 2,100,840 50,000 5,924 8 April 1, 2027 0.00476 20 50,000 1,173 44,438 5,562 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 On November 1, 2022, the Company entered into a Demand Promissory Note Agreements with two related parties, who are affiliate stockholders, for a principal balance of $ 120,000 8 On November 29, 2022, in connection with the Share Exchange Agreements and New Convertible Debt discussed below, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 0.00366 0.00476 0.003 Share Exchange Agreements and New Related Party Convertible Debentures and Warrants dated November 29, 2022 On November 29, 2022, the Company consummated the initial closing (the “Initial Closing”) of a private placement offering (the “Offering”) pursuant to the terms and conditions of that certain Securities Purchase Agreement, dated as of November 29, 2022 (the “Purchase Agreement”), by and among the Company, certain related party accredited investors (the “Related Party Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as collateral agent (the “Collateral Agent”). At the Initial Closing, the Company sold the related party Purchasers (i) 10 550,000 157,142,857 100 412,092 50,000 58,200 29,708 On November 29, 2022, the Company entered into Securities Exchange Agreements with the above related party investors, whereby the May 2021 Note, the First November 2021 Notes, the First April 2022 Note, the May 2022 Notes, the June 2022 Note, the Busch Notes, the August 11, 2022 Demand Promissory Note, and the September 2, 2022 Demand Promissory Note with an aggregate principal amount of $ 4,150,000 120,750 10 589,505 4,860,255 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 500 1,000,000 33,315 15 464,992 3,564,937 The November 29, 2022 New Related Party Debentures mature on November 29, 2023 10 0.003 70 50 5,000,000 0.003 70 Notwithstanding the preceding, holders of New Related Party Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing The Company’s obligations under the New Related Party Debentures are secured by a first priority lien on all the assets of the Company pursuant to that certain Security Agreement, dated November 29, 2022 (the “Security Agreement”) by and among the Company, the Debenture holders and the Collateral Agent. The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. If the Company or any Subsidiary shall default on any of its obligations under any mortgage credit agreement or other facility indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves an obligation greater than $ 250,000 In connection with the Securities Exchange Agreements with related parties for the exchange of the convertible notes and preferred shares for the New Related Party Debentures discussed above, the Company issued an aggregate of 2,564,340,702 The New Related Party Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $ 0.003 As discussed above, on November 29, 2022, in order to induce the related party investors to exchange their respective convertible notes and preferred stock into the New Related Party Debentures, the aggregate principal amount and accrued interest payable of the exchanged convertible notes, and the stated value and accrued dividends of exchanged preferred stock was increased by 15 10 1,046,167 1,768,379 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Convertible Debt On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Second November 2021 SPA”) with an investor (“Second November 2021 Investor”) to purchase two convertible notes (collectively as “Second November 2021 Notes”) and two accompanying warrants (collectively as “Second November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 27,322,406 495,560 0.00366 the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,520 69,417 430,583 On November 1, 2021, the Company entered into a Securities Purchase Agreement (“Third November 2021 SPA”) with an investor (“Third November 2021 Investor”) to purchase two convertible notes (collectively as “Third November 2021 Notes”) and two accompanying warrants (collectively as “Third November 2021 Warrants”), for an aggregate investment amount of $ 500,000 250,000 13,661,203 250,000 13,661,203 500,000 8 27,322,406 495,560 0.00366 Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes 109,289,616 22,429 Debt Modifications and Exchanges; 500,000 34,411 69,417 430,583 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On January 27, 2022, the Company entered into a Securities Purchase Agreement (“First January 2022 SPA”) with an investor (“First January 2022 Investor”) to purchase a convertible note with a principal balance of $ 500,000 500,000 136,612,022 8 136,612,022 498,428 0.00366 500,000 26,959 72,081 427,919 On January 31, 2022, the Company entered into a Securities Purchase Agreement (“Second January 2022 SPA”) with an investor (“Second January 2022 Investor”) to purchase a convertible note with principal balance of $ 500,000 500,000 136,612,022 8 136,612,022 0.00366 500,000 26,520 71,221 428,779 During April 2022, the Company entered into a Securities Purchase Agreement (“Second April 2022 SPA”) with various investors (“Investors”), to purchase convertible notes for an aggregate investment amount of $ 425,000 425,000 17,857,144 335,593 8 April 1, 2027 0.00476 425,000 15,710 120,808 304,192 On July 1, 2022, the Company entered into a Securities Purchase Agreement with an investor (“July 2022 Investor”), to purchase a convertible note for a principal amount of $ 50,000 50,000 2,100,840 8 April 1, 2027 7,037 0.00476 50,000 953 43,337 6,663 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On October 22, 2022, the Company issued a new convertible note for $ 200,000 200,000 On November 29, 2022, in connection with the Share Exchange Agreements and New Convertible Debentures discussed below, the Second November 2021 Warrants, Third November 2021 Warrants, January 2022 Warrants, Second January 2022 Warrants, Second April 2022 Warrants, and the July 2022 Warrants, aggregating 566,406,072 0.003 16,393,443 0.003 0.00366 0.00476 0.003 Share Exchange Agreements and New Convertible Debentures and Warrants dated November 29, 2022 On November 29, 2022, the Company consummated the Initial Closing of the Offering pursuant to the terms and conditions of the Purchase Agreement, by and among the Company, certain accredited investors (the “Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as collateral agent (the “Collateral Agent”). At the Initial Closing, the Company sold the Purchasers (i) 10 2,805,000 801,428,569 100 2,095,288 255,000 296,800 157,912 The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. On November 29, 2022, the Company entered into Securities Exchange Agreements with the above investors, whereby the Second November 2021 Notes, the Third November 2021 Notes, the First January 2022 Note, the Second January 2022 Note, the Second April 2022 Notes, the July 2022 Note, and the Settlement Note, with an aggregate principal amount of $ 2,675,000 173,375 15 427,256 3,275,631 On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 902 372,303 3,037 1,245,935 15 242,736 1,860,974 On January 27, 2023, the Company consummated the second closing (the “Second Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022, by and among the Company, certain accredited investors (the “Second Closing Purchasers”) and Cavalry Fund I Management LLC, a Delaware limited liability company, in its capacity as Collateral Agent. At the Second Closing, the Company sold the Purchasers (i) New Debentures in an aggregate principal amount of $ 1,045,000 298,571,429 100 950,000 Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Second Offering, and (ii) issue to Gunnar additional PA Warrants on the terms identical to the Warrants sold in the Second Offering in an amount equal to 10% of the New Debentures sold to Second Closing Purchasers 95,000 7,500 The New Debentures mature on November 29, 2023 10 0.003 70 50 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Notwithstanding the preceding, holders of New Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing The Purchase Agreement contains customary representations, warranties, and covenants of the Company, including, among other things and subject to certain exceptions, covenants that restrict the ability of the Company without the prior written consent of the Debenture holders, to incur additional indebtedness, and repay outstanding indebtedness, create or permit liens on assets, redeem its Common Stock, settle outstanding litigation, or enter into transactions with affiliates. The Company’s obligations under the Purchase Agreement and the New Debentures are secured by a first priority lien on all the assets of the Company pursuant to that certain Security Agreement, dated November 29, 2022 (the “Security Agreement”) by and among the Company, the Purchasers and the Collateral Agent. In connection with the issuance of the Underlying Securities discussed above, the Company determined that the terms of the Debentures and Warrants contain an embedded conversion option to be accounted for as derivative liabilities due to the holder having the potential to gain value upon conversion and provisions which includes events not within the control of the Company. In accordance with ASC 815-40 - Derivatives and Hedging - Contracts in an Entity’s Own Stock If the Company or any Subsidiary shall default on any of its obligations under any mortgage credit agreement or other facility indenture agreement, factoring agreement or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves an obligation greater than $ 250,000 In connection with the Securities Exchange Agreements with investors for the exchange of the convertible notes and preferred shares for the New Debentures discussed above, the Company issued an aggregate of 2,567,601,521 The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $ 0.003 As discussed above, on November 29, 2022, in order to induce the investors to exchange their respective convertible notes and preferred stock into the New Debentures, the aggregate principal amount and accrued interest payable of the exchanged convertible notes, and the stated value of exchanged preferred stock was increased by 15 669,992 1,949,909 In connection with the Initial Closing of the private placement, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors 305,000 50,000 50,000 124,489,795 16,000,000 95,000 7,500 38,775,510 Analysis of Exchange Agreements, Related Party Debenture and New Debentures, and Related Warrants In accordance with ASC 470-50, Debt Modifications and Extinguishments, the Company performed an assessment of whether the Exchange Agreement transactions with related parties and investors was deemed to be new debt, a modification of existing debt, or an extinguishment of existing debt. The Company evaluated the November 29, 2022 Exchange Agreements for debt modification and concluded that the debt exchanges qualified for debt extinguishment. The Company determined the transactions were considered a debt extinguishment because the change in debt, the inducement premiums (related parties and third parties) discussed previously totaling $ 1,724,489 3,718,288 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Derivative Liabilities Pursuant to Related Party Debentures and New Debentures and Related Warrants Pursuant to the provisions of ASC 815-40 – Derivatives and Hedging – Contracts in an Entity’s Own Stock In connection with the issuance of the New Related Party Debentures and the New Debentures and related warrants, on November 29, 2022, the initial measurement date, the aggregate fair values of the embedded conversion option derivatives and warrant derivatives of $ 41,961,095 21,986,653 8,837,284 13,149,369 19,974,442 7,231,894 12,742,548 2,192,488 2,192,488 831,922 1,360,566 671,903 1,527,311 27,924,386 The Company uses the Binomial Valuation Model to determine the fair value of its conversion options and new stock warrants which requires the Company to make several key judgments including: ● the value of the Company’s common stock; ● the expected life of issued stock warrants; ● the expected volatility of the Company’s stock price; ● the expected dividend yield to be realized over the life of the stock warrants; and ● the risk-free interest rate over the expected life of the stock warrants. During the six months ended March 31, 2023, the fair value of the embedded options and stock warrants were estimated at issuance using the Binomial Valuation Model with the following assumptions: SCHEDULE OF FAIR VALUE OF EMBEDDED OPTION AND STOCK WARRANTS 2023 Dividend rate — % Term (in years) 0.66 6.5 Volatility 236.39 396.53 % Risk—free interest rate 3.60 4.78 % The Company’s computation of the expected life of issued stock warrants was based on the simplified method as the Company does not have adequate exercise experience to determine the expected term. The interest rate was based on the U.S. Treasury yield curve in effect at the time of grant. The computation of volatility was based on the historical volatility of the Company’s common stock. During the six months ended March 31, 2023 and 2022, amortization of debt discounts related to the convertible notes payable and Debentures amounted to $ 6,056,696 276,170 Notes Payable - Related Party On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 150,000 150,000 1 1 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal amount of $ 100,000 100,000 1 April 1, 2022 1 100,000 350,000 250,000 1 2 Debt Modifications and Exchanges, 350,000 notes payable – related party 4,219 350,000 notes payable – related party 2,474 Note Payable In September 2017, the Company entered into a note agreement with a third-party investor. Pursuant to the note, the Company borrowed a principal amount of $ 1,000 33.3 1,000 1,855 1,000 1,689 |
LEASE LIABILITIES
LEASE LIABILITIES | 6 Months Ended |
Mar. 31, 2023 | |
Lease Liabilities | |
LEASE LIABILITIES | NOTE 7 – LEASE LIABILITIES Financing Lease Right-of-Use (“ROU”) Assets and Financing Lease Liabilities Effective November 2018, the Company entered into a financing agreement with the first lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 379 60 months commencing in November 2018 through October 2023 16,065 Effective November 2018, the Company entered into a financing agreement with a second lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,439 60 months commencing in November 2018 through October 2023 62,394 Effective March 2019, the Company entered into a financing agreement with a third lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,496 60 months commencing in March 2019 through February 2024 64,940 Effective August 2019, the Company entered into a financing agreement with a fourth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 397 60 months commencing in August 2019 through July 2024 19,622 Effective January 2020, the Company entered into a financing agreement with a fifth lessor to finance the purchase of equipment. Pursuant to the financing agreement, the Company shall make a monthly payment of $ 1,395 60 months commencing in January 2020 through December 2025 8,821 The significant assumption used to determine the present value of the financing lease payables was the discount rate which ranged from 8 15 Financing lease right-of-use assets (“Financing ROU”) is summarized below: SCHEDULE OF FINANCIAL LEASE RIGHT-OF-USE ASSETS March 31, 2023 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (190,071 ) (166,887 ) Balance of Financing ROU assets $ 41,770 $ 64,954 For the three months ended March 31, 2023 and 2022, depreciation expense related to Financing ROU assets amounted to $ 11,592 23,184 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Financing lease liability related to the Financing ROU assets is summarized below: SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS March 31, 2023 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (169,618 ) (143,456 ) Total 62,223 88,385 Less: short term portion (48,145 ) (53,995 ) Long term portion $ 14,078 $ 34,390 Future minimum lease payments under the financing lease agreements on March 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE Years ending March 31, Amount 2024 $ 52,178 2025 14,540 Total minimum financing lease payments 66,718 Less: discount to fair value (4,495 ) Total financing lease payable on March 31, 2023 $ 62,223 Operating Lease Right-of-Use (“ROU”) Asset and Operating Lease Liabilities In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 4,878 5,026 5,179 5,335 5,495 In February 2020, pursuant to ASC 842 – Leases, 12 231,337 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (the “Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 10). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6th Avenue, Golden, Colorado 80401, consisting of approximately 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen. In October 2021, pursuant to ASC 842 – Leases 168,664 176,893 8,229 8 1,212,708 For the six months ended March 31, 2023, lease costs related to operating lease ROU asset and operating lease liabilities amounted to $ 106,424 72,137 34,287 For the six months ended March 31, 2022, lease costs amounted to $ 96,438 57,531 38,907 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Operating Right-of-use asset (“ROU”) is summarized below: SCHEDULE OF OPERATING RIGHT-OF-USE ASSETS March 31, 2023 September 30, 2022 Operating office lease $ 1,212,708 $ 1,212,708 Less accumulated reduction (82,850 ) (57,847 ) Balance of Operating ROU asset $ 1,129,858 $ 1,154,861 Operating lease liability related to the ROU asset is summarized below: SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS March 31, 2023 September 30, Operating office lease $ 1,212,708 $ 1,212,708 Total operating lease liability 1,212,708 1,212,708 Reduction of operating lease liability (41,527 ) (29,396 ) Total 1,171,181 1,183,312 Less: short term portion (28,401 ) (25,551 ) Long term portion $ 1,142,780 $ 1,157,761 Future base lease payments under the non-cancellable operating lease on March 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE Years ending March 31, Amount 2024 $ 121,092 2025 124,724 2026 128,466 2027 133,194 2028 137,190 Thereafter 1,344,359 Total minimum non-cancellable operating lease payments 1,989,025 Less: discount to fair value (817,844 ) Total operating lease liability on March 31, 2023 $ 1,171,181 |
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 6 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED-PARTY TRANSACTIONS | NOTE 8 – RELATED-PARTY TRANSACTIONS Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and shall be renewed on a month-to-month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement in accordance with the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 6,000 12,000 On April 26, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors, for a principal amount of $ 100,000 250,000 1 2 May 5, 2024 350,000 notes payable – related party 4,219 350,000 notes payable – related party 2,474 On May 12, 2021, the Company and the May 2021 Investor entered into a May 2021 SPA to purchase a convertible May 2021 Note with principal value of $ 1,000,000 1,000,000 20,164 On October 21, 2021, the Company entered into a Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 150,000 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On November 1, 2021, pursuant to the First November 2021 SPA the First November 2021 Investor purchased three notes with aggregate principal of $ 1,000,000 54,644,811 1,000,000 20,164 On January 26, 2022, a notice and request for consent regarding a change in offering terms was sent by the Company to the First November 2021 Investor. Upon the approval of the First November 2021 Investor, the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. 218,579,234 34,630 On April 5, 2022, pursuant to the First April 2022 SPA, Matthew Schwartz, a member of the Board of Directors and a related party, purchased a convertible note with principal amount of $ 100,000 4,201,681 100,000 100,000 3,901 On May 9, 2022, pursuant to the May 2022 SPA the May 2022 Investor purchased four convertible notes for an aggregate investment amount of $ 1,000,000 20 1,000,000 42,016,808 1,000,000 20,110 On June 15, 2022, pursuant to the June 2022 SPA, Danica Holley, a member of the Board of Directors and a related party, purchased a convertible note with principal of $ 50,000 2,100,840 50,000 1,173 On July 29, 2022, the Company entered into a Demand Promissory Note Agreement with Jeffrey Busch who serves as a member of the Board of Directors and a related party, for a principal balance of $ 125,000 150,000 8 275,000 2,683 On August 11, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 375,000 8 375,000 4,110 On September 2, 2022, the Company entered into a Demand Promissory Note Agreement with a related party, who is an affiliate stockholder, for a principal balance of $ 350,000 8 350,000 2,148 During the year ended September 30, 2022, the Company advanced a total of $ 13,883 35,594 0 On November 1, 2022, the Company entered into a Demand Promissory Note Agreements with two related parties, who are affiliate stockholders, for a principal balance of $ 120,000 8 On November 29, 2022, in connection with the Share Exchange Agreements and New Related Party Convertible Debentures discussed in Note 6, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 On November 29, 2022, the Company consummated the Initial Closing of the Offering pursuant to the terms and conditions of the Purchase Agreement, by and among the Company the Related Party Purchasers and the Collateral Agent. At the Initial Closing, the Company sold the related party Purchasers (i) the New Related Party Debentures in an aggregate principal amount of $ 550,000 157,142,857 100 412,092 50,000 58,200 29,708 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On November 29, 2022, the Company entered into Securities Exchange Agreements with the Exchanged Related Party Notes and accrued interest payable of $ 120,750 15 10 589,505 4,860,255 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 500 1,000,000 33,315 15 464,992 3,564,937 As of March 31, 2023 and September 30, 2022, the Company owed several executives and directors for expense reimbursements and consulting fees in the aggregate amount of $ 12,933 16,223 On March 31, 2023 and September 30, 2022, net amount due to related parties consisted of the following: SCHEDULE OF RELATED PARTIES TRANSACTION March 31, 2023 September 30, 2022 Convertible notes principal – related parties $ 8,975,192 $ 4,150,000 Discount on convertible notes - related parties (5,959,565 ) (1,844,186 ) Note payable principal – related parties 350,000 350,000 Accrued liabilities - related parties 304,212 76,927 Accounts payable – related parties 12,933 16,223 Total $ 3,682,772 $ 2,748,964 |
STOCKHOLDERS_ DEFICIT
STOCKHOLDERS’ DEFICIT | 6 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ DEFICIT | NOTE 9 – STOCKHOLDERS’ DEFICIT Shares Authorized On September 22, 2020, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to change its name from “OncBioMune Pharmaceutical, Inc.” to “Theralink Technologies, Inc.” and increase its authorized shares of common stock from 6,666,667 0.0001 12,000,000,000 0.0001 On July 1, 2022, the Company filed with the Nevada Secretary of State, an amendment to its Articles of Incorporation to increase its authorized shares of common stock from 12,000,000,000 100,000,000,000 0.0001 Series A Preferred Stock On August 20, 2015, the Company filed the Certificate of Designation with the Nevada Secretary of State, designating 1,333 26,667 Each holder of Series A Preferred Stock is entitled to 500 votes for each share of Series A Preferred Stock held as of the applicable date on any matter that is submitted to a vote or for the consent of the stockholders of the Company. The holders of Series A Preferred Stock shall have no special voting rights and their consent is not required (except to the extent they are entitled to vote with holders of Common Stock as set forth herein) for the taking of any corporate action. As of March 31, 2023 and September 30, 2022, there were 667 Series C-1 Preferred Stock On May 18, 2020, the Company filed a certificate of designation, preferences and rights of Series C-1 Preferred Stock (the “Series C-1 Certificate of Designation”), as amended on June 9, 2021, with the Nevada Secretary of State to designate 3,000 0.0001 4,128.42 On June 9, 2021, the Company filed an Amendment (the “CoD Amendment”) to the Series C-1 Certificate of Designation with the Nevada Secretary of State. The filing of the CoD Amendment was approved by the Board on June 8, 2021, and by the holders of the majority of the outstanding shares of Series C-1 Preferred Stock on June 8, 2021. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) The CoD Amendment sets the triggering price for the anti-dilution price protection at $ 0.00275 ● Holders of shares of Series C-1 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-1 Preferred Stock is convertible into shares of common stock any time after the Initial Issuance Date at a conversion price of $ 0.0275 (x) (y) 0.0275 80 4.99 ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-1 Certificate of Designation), at a price of or with an exercise price or conversion price of less than $ 0.0275 ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-1 Preferred Stock shall be entitled to receive, in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its stockholders (“Liquidation Funds”) before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-1 Certificate of Designation) then outstanding, an amount per shares of the Series C-1 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder of Series C-1 Preferred Stock would receive if such holder converted such Series C-1 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-1 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-1 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-1 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-1 Preferred Stock and all holders of Parity Stock. During the year ended September 30, 2022, various holders of the Series C-1 Preferred Stock converted an aggregate of 1,923 288,637,529 Common Stock Issued Upon Conversion of Series C-1 Preferred Stock On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 902 372,303 As of March 31, 2023 and September 30, 2022, the Company had 141 1,043 Series C-2 Preferred Stock On May 18, 2020, the Company filed a certificate of designation, preferences and rights of Series C-2 Preferred Stock (the “Series C-2 Certificate of Designation”) with the Nevada Secretary of State to designate 6,000 0.0001 410.27 ● Holders of shares of Series C-2 Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series C-2 Preferred Stock is convertible into shares of common stock any time after the initial issuance date at a conversion price of $ 0.00275 (x) (y) 0.00275 80 4.99 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series C-2 Certificate of Designation), at a price of or with an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series C-2 Preferred Stock conversion price shall be reduced to the sale price, the exercise price or conversion price of the securities sold. In addition, these preferred shareholders have the right to participate in future equity offerings from the company for twenty-four months from the effective date. ● In the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up of the Company, the holders of the Series C-2 Preferred Stock shall be entitled to receive, in cash out of the Liquidation Funds before any amount shall be paid to the holders of any shares of Junior Stock, but pari passu with any Parity Stock (as defined in the Series C-2 Certificate of Designation) then outstanding, an amount per shares of the Series C-2 Preferred Stock equal to the greater of (A) the conversion amount thereof on the date of such payment or (B) the amount per share such holder would receive if such holder converted such Series C-2 into common stock immediately prior to the date of the payment, provided that if the Liquidation Funds are insufficient to pay the full amount due to the holders of Series C-2 Preferred Stock and holders of the shares of Parity Stock, then each holder of Series C-2 Preferred Stock and each holder of Parity Stock shall receive a percentage of the Liquidation Funds equal to the full amount of the Liquidation Funds payable to such holder of Series C-2 Preferred Stock and such holder of the Parity Stock as a liquidation preference, in accordance with their respective certificate of designation (or equivalent), as a percentage of the full amount of Liquidation Funds payable to all holders of Series C-2 Preferred Stock and all holders of Parity Stock. During the year ended September 30, 2022, a holder of the Series C-2 Preferred Stock converted 1,880 280,475,491 Common Stock Issued Upon Conversion of Series C-2 Preferred Stock On November 29, 2022, the Company entered into Securities Exchange Agreements with preferred stockholders, whereby holders of 3,037 1,245,935 As of March 31, 2023 and September 30, 2022, the Company had 0 3,037 Series E Preferred Stock On September 15, 2020, the Company filed a Certificate of Designation, Preferences and Rights of Series E Preferred Stock (the “Series E Certificate of Designation”) with the Nevada Secretary of the State to designate 2,000 0.0001 2,000 ● From the initial issuance date, cumulative dividends on each share of Series E shall accrue, on a quarterly basis in arrears (with any partial quarter calculated on a pro-rata basis), at the rate of 8 ● Holders of shares of Series E Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series E Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0021. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number by the conversion price. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series E (including any fraction of a share) shall automatically convert into an aggregate number of shares of common stock (including any fraction of a share) by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number (including any fraction of a share) by the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price. However, the conversion price shall never be less than $0.0021. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series E shall be deemed to have been converted into shares of Common Stock immediately prior to the closing of such transaction or Qualified Public Offering. ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series E Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series E Preferred Stock conversion price shall be reduced to the sale price or the exercise price or conversion price of the securities sold. ● Holders of Series E Preferred Stock have no voting rights. On September 16, 2020, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial shareholder, to purchase an aggregate amount of 1,000 2,000,000 Pursuant to the Series E Certificate of Designation, Series E Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Further the Series E Preferred Stock is an equity host instrument since it has more features that align with an equity instrument than a debt instrument pursuant to ASC 815-15-25-17A – Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” To determine whether the Series E Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series E Preferred Stock by the number of common shares issuable upon conversion of the Series E Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series E. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series E Preferred Stock, during the year ended September 30, 2020, the Company recognized a beneficial conversion feature in the amount of $ 2,000,000 During the year ended September 30, 2021, the issuance of Series F Preferred Stock triggered the price protection clause in the Series E Preferred Stock. Thus, the conversion price of the Series E Preferred Stock was reduced from $ 0.00375 0.00313 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 1,000 2,000,000 66,630 During the six months ended March 31, 2023 and 2022, the Company incurred $ 26,301 79,781 0 40,329 As of March 31, 2023 and September 30, 2022, the Company had 0 1,000 Series F Preferred Stock On July 30, 2021, the Company filed a Certificate of Designation, Preferences and Rights of Series F Preferred Stock (the “Series F Certificate of Designation”), with the Nevada Secretary of State to designate 1,000 0.0001 2,000 ● From the Initial Issuance Date, cumulative dividends on each share of Series F shall accrue, on a monthly basis in arrears (with any partial month being made on a pro-rata basis), at the rate of 8 ● Holders of shares of Series F Preferred Stock are entitled to dividends or distributions on each share on an “as converted” into common stock basis, if, as and when declared from time to time by the Board of Directors. ● Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. ● In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) ● In the event the Company issues or sells any securities including options or convertible securities, except for any Exempt Issuance (as defined in the Series F Certificate of Designation), at a price, an exercise price or conversion price of less than the conversion price, then upon such issuance or sale, the Series F Preferred Stock conversion price shall be reduced to the sale price, or the exercise price or conversion price of the securities sold. ● Series F Preferred Stock shall rank pari passu with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company with the Series C-1 Preferred Stock of the Company, the Series C-2 Preferred Stock of the Company, and the Series E Preferred Stock of the Corporation (the “Parity Stock”), and all other shares of capital stock of the Company shall be junior in rank to all Series F shares with respect to the preferences as to dividends (except for the common stock, which shall be pari passu as provided in the Series F Certificate of Designation), distributions and payments upon the liquidation, dissolution and winding up of the Company (such junior stock is referred to herein collectively as “Junior Stock”). The rights of all such Junior Stock shall be subject to the rights, powers, preferences and privileges of the Series F Preferred Stock. Without limiting any other provision of the Series F Certificate of Designation, without the prior express consent of the Required Holder, the Company shall not hereafter authorize or issue any additional or other shares of capital stock that is (i) of senior rank to the Series F Preferred Stock in respect of the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of the Company (collectively, the “Senior Preferred Stock”), or (ii) Parity Stock. Except as provided for in the Certificate of Designation, in the event of the merger or consolidation of the Company into another corporation, the Series F Preferred Stock shall maintain their relative rights, powers, designations, privileges and preferences provided for in the Certificate of Designation for a period of at least two years following such merger or consolidation and no such merger or consolidation shall cause result inconsistent therewith. On July 30, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with an affiliated investor, who is a beneficial shareholder, to purchase an aggregate amount of 500 63,897,764 1,000,000 2,000 8 The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. In accordance with ASC 470 – Debt, the proceeds of $ 1,000,000 42,808 957,192 Pursuant to the Series F Certificate of Designation, Series F Preferred Stock is redeemable at the option of the holder in the event that the Company is prohibited from issuing shares of common stock to a holder upon any conversion due to insufficient shares of common stock available (“Authorized Failure Shares”) and therefore meets the criteria of a contingently redeemable instrument in accordance with ASC 480-10-25-7 – Distinguishing Liabilities from Equity Derivatives and Hedging the nature of the host contract depends on the economic characteristics and risks of the entire hybrid financial instrument.” To determine whether the Series F Preferred Stock contains a BCF, we compared the effective conversion price and the Company’s stock price on the commitment date. The effective conversion price was calculated by dividing the proceeds from Series F Preferred Stock by the number of common shares issuable upon conversion of the Series F Preferred Stock. The BCF is measured as the difference between the commitment date stock price and the effective conversion price multiplied by the number of common stock issuable upon conversion of Series F. The BCF is limited to the total cash proceeds received if the amount of the BCF exceeds the cash proceeds received. In connection with the issuance of Series F Preferred Stock, during the year ended September 30, 2021, the Company recognized a BCF in the amount of $ 42,808 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) The relative fair value of the warrant of $ 957,192 957,192 On November 29, 2022, the Company entered into Securities Exchange Agreements with related party preferred stockholders, whereby related party holders of 500 1,000,000 33,315 During the six months ended March 31, 2023 and 2022, the Company also recorded dividends related to the Series F Preferred Stock in the amount of $ 13,151 39,891 0 20,164 As of March 31, 2023 and September 30, 2022, the Company had 0 500 Stock Options On April 28, 2020, the Board approved the 2020 Equity Incentive Plan (“2020 Plan”), as amended on May 29, 2020. On April 18, 2022, the Board terminated the 2020 Plan and any shares reserved thereunder are no longer subject to reservation and the Company had no options issued and outstanding under the 2020 Plan. On April 18, 2022, the Company’s Board and the shareholders approved the 2022 Equity Incentive Plan (“2022 Plan”) at which time the plan became effective. Upon the effective date of the 2022 Plan, 1,915,000,000 110 On May 26, 2022, the Company’s Board of Directors (“Board”) approved the future granting of stock options under the 2022 Equity Incentive Plan, to various employees and consultants. On August 16, 2022, the Company granted stock options to purchase 1,901,410,519 0.0036 0 365.1 2.82 7,985,924 During the three and six months ended March 31, 2023, in connection with the accretion of stock-based option expense over the vesting period, the Company recorded stock option expense of $ 537,065 1,149,238 1,901,410,519 1,400,180,967 821,064 0 0.0023 Stock option activities for the six months ended March 31, 2023 are summarized as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ - Granted - - - Balance Outstanding March 31, 2023 1,901,410,519 $ 0.0036 9.38 $ 0 Exercisable, March 31, 2023 1,400,180,967 (a) $ 0.0036 9.38 $ 0 Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ - Granted - - - - Vested during the period (46,436,792 ) 0.0036 - - Balance Non-vested on March 31, 2023 501,229,552 $ 0.0036 9.86 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Warrants Legacy Warrants On November 1, 2021, the Company issued the First November 2021 Warrants to purchase an aggregate of 54,644,811 0.00366 990,048 On November 1, 2021, the Company issued the Second November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 On November 1, 2021, the Company issued the Third November 2021 Warrants to purchase an aggregate of 27,322,406 0.00366 495,560 On January 26, 2022, the Company, upon the approval of the First November 2021 Investor, amended the First November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 218,579,234 34,630 0.00366 On January 26, 2022, the Company, upon the approval of the Second November 2021 Investor, amended the Second November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 26, 2022, the Company, upon the approval of the Third November 2021 Investor, amended the Third November 2021 SPA whereby the Company issued additional cashless-exercisable warrants to purchase 109,289,616 22,429 0.00366 On January 27, 2022, the Company issued the First January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 472,403 On January 31, 2022, the Company issued the Second January 2022 Warrants to purchase an aggregate of 136,612,022 0.00366 469,810 On January 31, 2022, the Company issued to two consultants an aggregate of 16,393,443 0.00366 54,595 On April 5, 2022, the Company issued the First April 2022 Warrants to purchase 4,201,681 0.00476 89,815 During April 2022, the Company issued the Second April 2022 Warrants to purchase an aggregate of 17,857,144 0.00476 335,593 On May 9, 2022, the Company issued the May 2022 Warrants to purchase an aggregate of 42,016,808 0.00476 178,449 On June 15, 2022, the Company issued the June 2022 Warrants to purchase 2,100,840 0.00476 5,924 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) On July 1, 2022, the Company issued the July 2022 Warrants to purchase an aggregate of 2,100,840 0.00476 8,190 On November 29, 2022, in connection with the Share Exchange Agreements and New Convertible Debt discussed below, the May 2021 Warrants, First November 2021 Warrants, First April 2022 Warrants, May 2022 Warrants, and June 2022 Warrants, aggregating 385,441,138 0.003 63,897,764 0.003 0.00366 0.00476 0.003 On November 29, 2022, in connection with the Share Exchange Agreements and New Convertible Debentures discussed in Note 6, the Second November 2021 Warrants, Third November 2021 Warrants, January 2022 Warrants, Second January 2022 Warrants, Second April 2022 Warrants, and the July 2022 Warrants, aggregating 566,406,072 0.003 16,393,443 0.003 0.00366 0.00476 0.003 New Warrants In connection with the Securities Exchange Agreements with related parties for the exchange of the convertible notes and preferred shares for the New Related Party Debentures, as discussed in Note 6, the Company issued an aggregate of 2,564,340,702 in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. In connection with the Securities Exchange Agreements with investors for the exchange of the convertible notes and preferred shares for the New Debentures, as discussed in Note 6, the Company issued an aggregate of 2,269,030,092 in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. In connection with the Initial Closing of the private placement, the Company and Gunnar entered into the Placement Agency Agreement, pursuant to which Gunnar agreed to act as the Placement Agent. Pursuant to the terms of the Placement Agency Agreement, Gunner received 124,489,795 16,000,000 Warrants activities for the six months ended March 31, 2023 is summarized as follows: SCHEDULE OF WARRANTS Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2022 1,888,813,005 $ 0.003 3.26 $ 1,140,362 Issued in connection with a New Related Party Debentures (see Note 6) 2,564,340,702 0.003 Issued in connection with a New Debentures (see Note 6) 2,567,601,521 0.003 Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) 179,265,305 0.000985 Balance Outstanding on March 31, 2023 7,200,020,533 $ 0.00149 5.36 $ 7,089,251 Exercisable on March 31, 2023 7,200,020,533 $ 0.00149 5.36 $ 7,089,251 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 10 – COMMITMENTS AND CONTINGENCIES Employment Agreements Michael Ruxin, M.D. On June 5, 2020, the Company and Dr. Michael Ruxin entered into an employment agreement (the “Ruxin Employment Agreement”) for Dr. Ruxin to serve as the Company’s Chief Executive Officer, President and a director. The Ruxin Employment Agreement provides that Dr. Ruxin will be employed for a five-year term commencing on June 5, 2020. The term will be automatically extended for one additional year upon the fifth anniversary of the effective date without any affirmative action, unless either party to the agreement provides at least sixty (60) days’ advance written notice to the other party that the employment period will not be extended. Dr. Ruxin will be entitled to receive an annual base salary of $ 300,000 150 49,047,059 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 251,464 112,500 Dr. Ruxin is an “at-will” employee and his employment may be terminated by the Company at any time, with or without cause. In the event Dr. Ruxin’s employment is terminated by the Company without Cause (as defined in the Ruxin Employment Agreement), with Good Reason (as defined in the Ruxin Employment Agreement) or as a result of a non-renewal of the term of employment under the Ruxin Employment Agreement, Dr. Ruxin shall be entitled to receive the sum of (I) the Severance Multiple (as defined below), multiplied by multiplied by provided, however The Ruxin Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. Jeffrey Busch On June 5, 2020, the Company and Jeffrey Busch entered into an employment agreement (the “Busch Employment Agreement”) for Mr. Busch to serve as the Company’s Chairman of the Company and in such other positions as may be assigned from time to time by the board of directors. The Busch Employment Agreement stipulates that Mr. Busch will be employed for a five-year term commencing on June 5, 2020. The term will be automatically extended for one additional year upon the fifth anniversary of the effective date without any affirmative action, unless either party to the agreement provides at least sixty (60) days’ advance written notice to the other party that the employment period will not be extended. Mr. Busch will be entitled to receive an annual base salary of $ 60,000 49,047,059 420,691,653 49,047,059 49,047,059 420,691,653 469,738,712 0.0036 222,500 192,500 Mr. Busch is an “at-will” employee and his employment may be terminated by the Company at any time, with or without cause. In the event Mr. Busch’s employment is terminated by the Company without Cause (as defined in the Busch Employment Agreement), with Good Reason (as defined in the Busch Employment Agreement) or as a result of a non-renewal of the term of employment under the Busch Employment Agreement, Mr. Busch shall be entitled to receive the sum of (I) the Severance Multiple (as defined below), multiplied by multiplied by provided, however THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) The Busch Employment Agreement also contains covenants (a) restricting the executive from engaging in any activity competitive with our business during the term of the employment agreement and in the event of termination, for a period of one year thereafter, (b) prohibiting the executive from disclosing confidential information regarding the Company, and (c) soliciting employees, customers and prospective customers during the term of the employment agreement and for a period of one year thereafter. Thomas E. Chilcott, III On September 24, 2020, the Company appointed Thomas E. Chilcott, III, to serve as the Chief Financial Officer. The Company entered into an offer letter with Mr. Chilcott which provides that his base salary will be $ 225,000 Mr. Chilcott is entitled to participate in all medical and other benefits that the Company has established for its employees. The offer letter also provides that Mr. Chilcott will be granted an option to purchase up to 94,545,096 shares of the Company’s common stock which were granted on August 16, 2022 with an exercise price of $ 0.0036 On December 31, 2021, the Company’s Board approved an increase in the base salary of Thomas E. Chilcott, III, the Company’s Chief Financial Officer, from $ 225,000 300,000 The Board also approved two new bonuses for which Mr. Chilcott was eligible: (i) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $1,000,000; and (ii) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $2,000,000 in the aggregate. On December 6, 2022, the Board approved a bonus compensation plan pursuant to which Thomas E. Chilcott, III, the Company’s Chief Financial Officer, was eligible for: (i) a $150,000 bonus payable upon the successful filing of the Company’s report on Form 10-K for the annual period ended September 30, 2022 (the “ Annual Report “) on or before December 29, 2022; or (ii) a $100,000 bonus payable upon the successful filing of the Company’s Annual Report on or before January 13, 2023 (collectively, the “Bonus”) 150,000 Faith Zaslavsky On December 5, 2022, the Company appointed Faith Zaslavsky, age 48, as President and Chief Operating Officer of the Company, effective December 5, 2022 (the “Effective Date”). In connection with her appointment, on December 5, 2022, the Company and Ms. Zaslavsky entered into an offer letter (the “Offer Letter”) which provides that Ms. Zaslavsky’s base salary will be $ 400,000 35 150,000,000 20 Consulting Agreements On July 5, 2020, the Company and a consultant entered into a Scientific Advisory Board Service Agreement (“Scientific Advisory Agreement”) which provides for; (i) $ 2,000 88,786,943 0.0036 1,500 On July 5, 2020, the Company and a consultant entered into a Pathology Advisory Board Service Agreement (the “Pathology Advisory Agreement”) which provides for; (i) $ 272 77,972,192 0.0036 1,500 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Effective January 1, 2021, the Company entered into a consulting agreement with Mr. Kucharchuk, a member of the Board of Directors, to serve as a strategic advisor. The agreement was effective for a period of twelve months, commencing on January 1, 2021 and shall be renewed on a month-to-month basis, subject to the right of the Company and Mr. Kucharchuk to terminate the agreement pursuant to the agreement. Pursuant to the agreement, Mr. Kucharchuk shall be paid $ 2,000 6,000 12,000 License Agreements GMU License In September 2006, the Company entered into an exclusive license agreement with George Mason Intellectual Properties (“GMU License Agreement”), a non-profit corporation formed for the benefit of George Mason University (“GMU”) which: (1) grants an exclusive worldwide license, with the right to grant sublicenses, under the licensed inventions to make, have made, import, use, market, offer for sale and sell products designed, manufactured, used and/or marketed for all fields and for all uses, subject to the exclusions as defined in the GMU License Agreement; (2) grants an exclusive option to license past, existing, or future inventions in the Company’s field, from inventors that are obligated to assign to GMU and who have signed a memorandum of understanding acknowledging that developed intellectual property will be offered, subject to the exclusions as defined in the GMU License Agreement; (3) the license and option granted specifically excludes biomarkers for lung, ovarian, and breast cancers in a diagnostic field of use and GMU inventions developed using materials obtained from third parties under agreements granting rights to inventions made using said materials and; (4) grants right to assign or otherwise transfer the license so long as such assignment or transfer is accompanied by a change of control transaction and GMU is given 14 days’ prior notice. In addition, the Company is required to make an annual payment of $ 50,000 1.5 15 2,781 2,443 NIH License Agreement In March 2018, the Company entered into two license agreements (“NIH License Agreements”) with the National Institutes of Health (“NIH”) which grants the Company an exclusive and a nonexclusive United States license for certain patents. Pursuant to the NIH License Agreements, the Company is required to make an annual payment of $ 1,000 3.0 th st st 5,000 10 0 Vanderbilt License Agreement In March 2023, the Company entered into a license agreement (“Vanderbilt License Agreement”) with the Vanderbilt University (“Vanderbilt”) which grants the Company an exclusive license for certain patents. Pursuant to Vanderbilt License Agreement, the Company is required to make an annual payment of $ 5,556 0.25 2.0 0 Lease In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 On June 10, 2021, the Company entered into an amendment to its existing Warehouse Lease (“Lease Amendment”), effective October 3, 2021, for its laboratory facility in Golden, CO (see Note 7). The Lease Amendment provided for: (i) an extension to the term of the original lease to five years following the completion of the Company’s improvements to the Expansion Premises (defined below); (ii) an expansion of the premises to include the premises located at Unit 404, Building F, 15000 West 6 th 4,734 Pursuant to the Lease Amendment, the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen. Other Contingencies Pursuant to ASC 450-20 – Loss Contingencies 82,040 78,440 40,000 42,040 38,440 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Legal Action On December 10, 2021, YPH LLC filed a complaint against the Company in the District Court for the Southern District of New York alleging that Theralink breached its Certificate of Designation for Series C-1 Convertible Preferred Stock by failing to honor a conversion notice submitted to it by YPH. Based on these and other allegations, Plaintiff asserted a breach of contract claim claiming that it has damages in excess of $ 100 On August 16, 2022, Erika Singleton filed a complaint against the Company in the Eighth Judicial District Court, Clark County, Nevada, Case No. A-22-857038-C. Plaintiff alleges that the Company did not provide her with physical stock certificates for 200,000 2,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS On April 11, 2023, the Company consummated a third closing (the “Third Closing”) of the Offering pursuant to the terms and conditions of that certain Purchase Agreement, dated as of November 29, 2022, by and among the Company and Jeffrey Busch (the “Third Closing Purchaser”). At the Third Closing, the Company sold the Purchaser (i) a New Debenture with a principal amount of $ 155,100 44,314,286 100 141,000 10 Pursuant to a promissory note dated April 28, 2023, Douglass T. Mergenthaler advanced $ 110,000 to the Company. The promissory note bears interest at 10 Appointment of Chief Financial Officer On May 5, 2023, the Company appointed Andrew Kucharchuk, a member of the Board of Directors of the Company, as its Chief Financial Officer, effective May 8, 2023. Mr. Kucharchuk was previously the Chief Executive Officer and Chief Financial Officer of OncBioMune Pharmaceuticals, Inc., the Company’s predecessor. The Company and Mr. Kucharchuk agreed that Mr. Kucharchuk’s base salary will be $ 180,000 Termination of Chief Financial Officer On May 5, 2023, the Company terminated the employment of Thomas Chilcott, effective immediately. Mr. Chilcott previously served as the Company’s Chief Financial Officer, Treasurer and Secretary. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying interim unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information, which present the unaudited financial statements of the Company as of March 31, 2023. The interim unaudited financial statements do not include all the information and notes necessary for a comprehensive presentation of financial position and results of operations and should be read in conjunction with the September 30, 2022 audited financial statements on Form 10-K filed on December 29, 2022. It is management’s opinion that all material adjustments (consisting of normal recurring adjustments and non-recurring adjustments) have been made for the fair presentation of the unaudited financial statements. The results for the interim period are not necessarily indicative of the results to be expected for the year ending September 30, 2023. |
Going Concern | Going Concern These unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying unaudited financial statements, the Company had net loss and net cash used in operations of $ 45,022,729 3,517,969 107,869,998 52,332,236 52,978,316 207,922 The Company cannot provide assurance that it will ultimately achieve profitable operations or become cash flow positive or raise additional debt or equity capital. Additionally, the current capital resources are not adequate to continue operating and maintaining the business strategy for a period of twelve months from the issuance date of this report. The Company will seek to raise capital through additional debt and equity financings to fund its operations in the future. Although the Company has historically raised capital from sales of equity and the issuance of promissory notes, convertible notes and convertible debentures, there is no assurance that it will be able to continue to do so. If the Company is unable to raise additional capital or secure additional lending in the near future, management expects that the Company will need to curtail or cease operations. These financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, assumptions, and estimates that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Management bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes are reasonable under the circumstances, to determine the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates during the periods ended March 31, 2023 and 2022 include, but are not necessarily limited to, estimates of contingent liabilities, valuation of marketable securities, useful life of property and equipment, valuation of right-of-use ROU assets and lease liabilities, assumptions used in assessing impairment of long-lived assets, allowances for accounts receivable, estimates of current and deferred income taxes and deferred tax valuation allowances, the fair value of derivative liabilities, and the fair value of non-cash equity transactions. |
Fair Value of Financial Instruments and Fair Value Measurements | Fair Value of Financial Instruments and Fair Value Measurements FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on March 31, 2023. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on the disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2—Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3—Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued liabilities, contract liabilities, and accrued compensation approximate their fair market value based on the short-term maturity of these instruments. Assets or liabilities measured at fair value or a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on March 31, 2023 and September 30, 2022: SCHEDULE OF FAIR VALUE MEASURED ON RECURRING BASIS March 31, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 44,825,486 $ — $ — $ — A roll forward of the level 3 valuation financial instruments is as follows: SCHEDULE OF VALUATION ON DERIVATIVE INSTRUMENTS 2023 2022 For the Six Months Ended March 31, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 16,901,100 - Initial valuation of derivative liabilities included in derivative expense 27,252,483 - Change in fair value included in derivative expense 671,903 - Balance at end of period $ 44,825,486 $ - ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company’s investment policy is to preserve principal and maintain liquidity. The Company periodically monitors its positions with, and the credit quality of, the financial institutions with which it invests. |
Prepaid Assets | Prepaid Assets Prepaid assets are carried at amortized cost. Significant prepaid assets as of March 31, 2023 and September 30, 2022 include, but are not necessarily limited to, prepaid insurance, prepaid consulting fees, prepaid equipment maintenance fees and retainers for professional services. |
Laboratory Supplies | Laboratory Supplies Laboratory supplies are normally consumed within a year from purchase and any unused laboratory supplies are classified as current assets and reflected in the accompanying balance sheets as laboratory supplies. |
Property and Equipment | Property and Equipment Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives, which range from three five |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation Improvements to Employee Share-Based Payment |
Revenue Recognition and Contract Assets and Liabilities | Revenue Recognition and Contract Assets and Liabilities In accordance with ASU Topic 606 - Revenue from Contracts with Customers Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company provides research and development support to biopharmaceutical companies to assist their drug development programs. In January 2021, the Company began performing tumor profiling to support clinical patient therapeutic intervention. The services provided by the Company are performance obligations under services contracts. These contracts are completed over time and may lead to deferred revenue for services not completed at the end of a period which is reflected as contract liabilities on the accompanying balance sheet. The Company may include, in accounts receivable, amounts billed to customers in advance of services being initiated or completed. If the Company has a right to such consideration that is unconditional such as for contractually allowed billings under non-cancellable contracts, such amounts billed in advance would be offset by contract liability. Management reviews the completion status of all jobs monthly to determine the appropriate amount of revenue to recognize. The Company offers these services to biopharmaceutical companies and to private individuals. The Company uses various output methods to recognize revenues. SCHEDULE OF REVENUES BY CATEGORY Six Months Ended Six Months Ended Biopharma services $ 156,555 $ 87,975 Patient testing service 68,527 10,500 Total revenues $ 225,082 $ 98,475 The revenue recognized from services provided to private individuals during the three and six months ended March 31, 2023 and 2022 were minimal and therefore were not disaggregated for disclosure purposes. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) |
Contract Liabilities | Contract Liabilities Contract liabilities are cash deposits received from customers and advance billing included in accounts receivable on uncompleted contracts for which revenues have not been recognized as of the balance sheet date. For the six months ended March 31, 2023 and 2022, contract liabilities activity is as follows: SCHEDULE OF CONTRACT LIABILITIES March 31, 2023 March 31, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 220,813 Less: revenues recognized during the period (41,500 ) (22,250 ) Total contract liabilities $ 274,515 $ 333,713 During the six months ended March 31, 2023, the Company recognized $ 3,500 3,500 |
Cost of Revenue | Cost of Revenue The cost of revenue consists of the cost of labor, supplies and materials. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Trade receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis and does not bear interest. Trade accounts receivable are periodically evaluated for collectability based on past credit history with customers and their current financial condition. Any charges to the allowance for doubtful accounts on accounts receivable are charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and the current status of accounts receivable. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. |
Research and Development | Research and Development In fiscal 2022, the Company joined and made an investment in an investigator-initiated study. As part of that investment, the Company obtained rights/access to various retrospective biobank clinical samples for research and product development purposes. In addition, the Company received active patient clinical samples for the following disease sites: ovarian, endometrial, and head & neck cancers. These samples were tested to provide RUO (Research Use Only) results reports for research and product validation efforts. The transaction term is for 5-years, starting in September 2021 50,000 50,000 |
Derivative Liabilities | Derivative Liabilities The Company has certain financial instruments that are embedded derivatives associated with capital raises. The Company evaluates all its financial instruments to determine if those contracts or any potential embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815-10 - Derivative and Hedging - Contract in Entity’s Own Equity |
Concentrations | Concentrations Concentration of Credit Risk The Company maintains its cash in banks and financial institutions that at times may exceed the federally insured limit of $ 250,000 0 186,466 Concentration of Revenues For the six months ended March 31, 2023, the Company generated total revenue of $ 225,082 36.7 14.3 32.8 98,475 45 44 THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) Concentration of Accounts Receivable As of March 31, 2023, the Company had net accounts receivable of $ 40,610 84 32,125 59 41 Concentration of Contract Liabilities As of March 31, 2023, the Company had deferred revenue reflected as contract liabilities of $ 274,515 81 11 156,550 65 24 Concentration of Vendors Historically, the Company relied on one vendor to perform the Company’s patient reporting and contract research (formerly called sample analysis) which is an integral part of the Company’s operation and revenue stream. Any disruption in this service could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company discontinued using this vendor in June 2022 as the patient reporting function has been moved in-house. During the six months ended March 31, 2023 and 2022, the Company incurred $ 0 198,866 |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible notes, conversion of preferred stock, and common stock issuable. These common stock equivalents may be dilutive in the future. The following potentially dilutive equity securities outstanding as of March 31, 2023 and 2022 were not included in the computation of dilutive loss per common share because the effect would have been anti-dilutive: SCHEDULE OF ANTI-DILUTIVE SHARES OUTSTANDING 2023 2022 March 31, 2023 2022 Stock warrants 7,200,020,533 1,820,535,692 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 281,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 18,235,327,665 1,139,160,949 Total antidilutive securities excluded from computation of earnings 27,357,926,252 4,652,856,399 |
Income Taxes | Income Taxes The Company accounts for income tax using the liability method prescribed by ASC 740 - Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The Company follows the accounting guidance for uncertainty in income taxes using the provisions of ASC 740 “Income Taxes no no |
Related Parties | Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. THERALINK TECHNOLOGIES, INC. CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS MARCH 31, 2023 (UNAUDITED) |
Leases | Leases The Company accounts for its leases using the method prescribed by ASC 842 – Lease Accounting Operating and financing lease ROU assets represent the right to use the leased asset for the lease term. Operating and financing lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the unaudited statements of operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASC 326). The standard replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. Further, the FASB issued ASU 2019-04 and ASU 2019-05 to provide additional guidance on the credit losses standard. While the adoption of ASC 326 could result in a higher allowance recorded in the future for credit losses on receivables within the scope of the standard due to the prescribed measurement principles, the impact of the adoption on the Company’s consolidated financial statements was not material. Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF FAIR VALUE MEASURED ON RECURRING BASIS | Assets or liabilities measured at fair value or a recurring basis included embedded conversion options in convertible debt (see Note 6) and were as follows on March 31, 2023 and September 30, 2022: SCHEDULE OF FAIR VALUE MEASURED ON RECURRING BASIS March 31, 2023 September 30, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative liabilities $ — $ — $ 44,825,486 $ — $ — $ — |
SCHEDULE OF VALUATION ON DERIVATIVE INSTRUMENTS | A roll forward of the level 3 valuation financial instruments is as follows: SCHEDULE OF VALUATION ON DERIVATIVE INSTRUMENTS 2023 2022 For the Six Months Ended March 31, 2023 2022 Balance at beginning of period $ - $ - Initial valuation of derivative liabilities included in debt discount 16,901,100 - Initial valuation of derivative liabilities included in derivative expense 27,252,483 - Change in fair value included in derivative expense 671,903 - Balance at end of period $ 44,825,486 $ - |
SCHEDULE OF REVENUES BY CATEGORY | SCHEDULE OF REVENUES BY CATEGORY Six Months Ended Six Months Ended Biopharma services $ 156,555 $ 87,975 Patient testing service 68,527 10,500 Total revenues $ 225,082 $ 98,475 |
SCHEDULE OF CONTRACT LIABILITIES | For the six months ended March 31, 2023 and 2022, contract liabilities activity is as follows: SCHEDULE OF CONTRACT LIABILITIES March 31, 2023 March 31, 2022 Contract liabilities beginning balance $ 156,550 $ 135,150 Billings and cash receipts on uncompleted contracts 159,465 220,813 Less: revenues recognized during the period (41,500 ) (22,250 ) Total contract liabilities $ 274,515 $ 333,713 |
SCHEDULE OF ANTI-DILUTIVE SHARES OUTSTANDING | SCHEDULE OF ANTI-DILUTIVE SHARES OUTSTANDING 2023 2022 March 31, 2023 2022 Stock warrants 7,200,020,533 1,820,535,692 Stock options 1,901,410,519 - Series C-1 preferred stock 21,167,535 281,626,175 Series C-2 preferred stock - 453,067,129 Series E preferred stock - 638,977,636 Series F preferred stock - 319,488,818 Convertible notes 18,235,327,665 1,139,160,949 Total antidilutive securities excluded from computation of earnings 27,357,926,252 4,652,856,399 |
ACCOUNTS RECEIVABLE (Tables)
ACCOUNTS RECEIVABLE (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
SCHEDULE OF ACCOUNTS RECEIVABLE | On March 31, 2023 and September 30, 2022, accounts receivable consisted of the following: SCHEDULE OF ACCOUNTS RECEIVABLE March 31, 2023 September 30, 2022 Accounts receivable $ 48,110 $ 35,957 Less: allowance for doubtful accounts (7,500 ) (3,832 ) Accounts receivable, net $ 40,610 $ 32,125 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | SCHEDULE OF PROPERTY AND EQUIPMENT Estimated Useful Life in Years March 31, 2023 September 30, 2022 Laboratory equipment 5 $ 597,059 $ 597,059 Furniture 5 24,567 24,567 Leasehold improvements 5 353,826 353,826 Computer equipment 3 76,470 68,490 Property and equipment gross 1,051,922 1,043,942 Less accumulated depreciation (439,327 ) (357,815 ) Property and equipment, net $ 612,595 $ 686,127 |
DEBT (Tables)
DEBT (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVERTIBLE NOTES PAYABLE | On March 31, 2023 and September 30, 2022, convertible notes payable (third parties and related parties) consisted of the following: SCHEDULE OF CONVERTIBLE NOTES PAYABLE March 31, 2023 September 30, 2022 Principal amount $ 8,986,605 $ 2,475,000 Less: debt discount (6,100,154 ) (2,028,719 ) Convertible notes payable, net 2,886,451 446,281 Less: current portion of convertible notes payable - related parties (2,886,451 ) - Convertible notes payable, net – long-term $ - $ 446,281 Principal amount – related parties $ 8,975,192 $ 4,150,000 Less: debt discount – related parties (5,959,565 ) (1,844,186 ) Convertible notes payable - related parties, net 3,015,627 2,305,814 Less: current portion of convertible notes payable - related parties (3,015,627 ) (1,000,000 ) Convertible notes payable - related parties, net – long-term $ - $ 1,305,814 Total convertible notes payable, net $ 5,902,078 $ 2,752,095 |
SCHEDULE OF FAIR VALUE OF EMBEDDED OPTION AND STOCK WARRANTS | During the six months ended March 31, 2023, the fair value of the embedded options and stock warrants were estimated at issuance using the Binomial Valuation Model with the following assumptions: SCHEDULE OF FAIR VALUE OF EMBEDDED OPTION AND STOCK WARRANTS 2023 Dividend rate — % Term (in years) 0.66 6.5 Volatility 236.39 396.53 % Risk—free interest rate 3.60 4.78 % |
LEASE LIABILITIES (Tables)
LEASE LIABILITIES (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Lease Liabilities | |
SCHEDULE OF FINANCIAL LEASE RIGHT-OF-USE ASSETS | Financing lease right-of-use assets (“Financing ROU”) is summarized below: SCHEDULE OF FINANCIAL LEASE RIGHT-OF-USE ASSETS March 31, 2023 September 30, Financing ROU assets $ 231,841 $ 231,841 Less accumulated depreciation (190,071 ) (166,887 ) Balance of Financing ROU assets $ 41,770 $ 64,954 |
SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS | Financing lease liability related to the Financing ROU assets is summarized below: SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS March 31, 2023 September 30, Financing lease payables for equipment $ 231,841 $ 231,841 Total financing lease payables 231,841 231,841 Payments of financing lease liabilities (169,618 ) (143,456 ) Total 62,223 88,385 Less: short term portion (48,145 ) (53,995 ) Long term portion $ 14,078 $ 34,390 |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE | Future minimum lease payments under the financing lease agreements on March 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE Years ending March 31, Amount 2024 $ 52,178 2025 14,540 Total minimum financing lease payments 66,718 Less: discount to fair value (4,495 ) Total financing lease payable on March 31, 2023 $ 62,223 |
SCHEDULE OF OPERATING RIGHT-OF-USE ASSETS | Operating Right-of-use asset (“ROU”) is summarized below: SCHEDULE OF OPERATING RIGHT-OF-USE ASSETS March 31, 2023 September 30, 2022 Operating office lease $ 1,212,708 $ 1,212,708 Less accumulated reduction (82,850 ) (57,847 ) Balance of Operating ROU asset $ 1,129,858 $ 1,154,861 |
SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS | Operating lease liability related to the ROU asset is summarized below: SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS March 31, 2023 September 30, Operating office lease $ 1,212,708 $ 1,212,708 Total operating lease liability 1,212,708 1,212,708 Reduction of operating lease liability (41,527 ) (29,396 ) Total 1,171,181 1,183,312 Less: short term portion (28,401 ) (25,551 ) Long term portion $ 1,142,780 $ 1,157,761 |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE | Future base lease payments under the non-cancellable operating lease on March 31, 2023 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE Years ending March 31, Amount 2024 $ 121,092 2025 124,724 2026 128,466 2027 133,194 2028 137,190 Thereafter 1,344,359 Total minimum non-cancellable operating lease payments 1,989,025 Less: discount to fair value (817,844 ) Total operating lease liability on March 31, 2023 $ 1,171,181 |
RELATED-PARTY TRANSACTIONS (Tab
RELATED-PARTY TRANSACTIONS (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF RELATED PARTIES TRANSACTION | On March 31, 2023 and September 30, 2022, net amount due to related parties consisted of the following: SCHEDULE OF RELATED PARTIES TRANSACTION March 31, 2023 September 30, 2022 Convertible notes principal – related parties $ 8,975,192 $ 4,150,000 Discount on convertible notes - related parties (5,959,565 ) (1,844,186 ) Note payable principal – related parties 350,000 350,000 Accrued liabilities - related parties 304,212 76,927 Accounts payable – related parties 12,933 16,223 Total $ 3,682,772 $ 2,748,964 |
STOCKHOLDERS_ DEFICIT (Tables)
STOCKHOLDERS’ DEFICIT (Tables) | 6 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
SCHEDULE OF STOCK OPTION ACTIVITY | Stock option activities for the six months ended March 31, 2023 are summarized as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Average Aggregate Balance Outstanding September 30, 2022 1,901,410,519 $ 0.0036 9.88 $ - Granted - - - Balance Outstanding March 31, 2023 1,901,410,519 $ 0.0036 9.38 $ 0 Exercisable, March 31, 2023 1,400,180,967 (a) $ 0.0036 9.38 $ 0 Balance Non-vested on September 30, 2022 547,666,344 $ 0.0036 9.88 $ - Granted - - - - Vested during the period (46,436,792 ) 0.0036 - - Balance Non-vested on March 31, 2023 501,229,552 $ 0.0036 9.86 $ 0 (a) These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. |
SCHEDULE OF WARRANTS | Warrants activities for the six months ended March 31, 2023 is summarized as follows: SCHEDULE OF WARRANTS Weighted Weighted Average Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Warrants Price (Years) Value Balance Outstanding on September 30, 2022 1,888,813,005 $ 0.003 3.26 $ 1,140,362 Issued in connection with a New Related Party Debentures (see Note 6) 2,564,340,702 0.003 Issued in connection with a New Debentures (see Note 6) 2,567,601,521 0.003 Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) 179,265,305 0.000985 Balance Outstanding on March 31, 2023 7,200,020,533 $ 0.00149 5.36 $ 7,089,251 Exercisable on March 31, 2023 7,200,020,533 $ 0.00149 5.36 $ 7,089,251 |
ORGANIZATION AND NATURE OF OP_2
ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||||||
Jul. 26, 2021 | Jun. 05, 2020 | Mar. 31, 2023 | Sep. 30, 2022 | Jul. 01, 2022 | Jun. 30, 2022 | Sep. 24, 2020 | Sep. 22, 2020 | |
Common stock shares authorized | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 12,000,000,000 | 6,666,667 | ||
Conversion of stock shares converted | 280,475,491 | |||||||
OncBio Mune Sub Inc [Member] | Investor [Member] | ||||||||
Number of shares issued | 10,000 | |||||||
Gross proceeds from issuance of stock | $ 1,000 | |||||||
Asset Purchase Agreement [Member] | Avant [Member] | ||||||||
Sale of stock percentage of ownership after transaction | 54.55% | |||||||
Series D-1 Preferred Stock [Member] | Asset Purchase Agreement [Member] | ||||||||
Number of shares issued | 1,000 | |||||||
Common stock shares authorized | 6,666,667 | 12,000,000,000 | ||||||
Conversion of stock shares converted | 5,081,549,184 | |||||||
Series D-1 Preferred Stock [Member] | Asset Purchase Agreement [Member] | Avant [Member] | ||||||||
Percentage of voting Interests acquired | 54.55% |
SCHEDULE OF FAIR VALUE MEASURED
SCHEDULE OF FAIR VALUE MEASURED ON RECURRING BASIS (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 |
Platform Operator, Crypto-Asset [Line Items] | ||||
Derivative liabilities | $ 44,825,486 | |||
Fair Value, Inputs, Level 1 [Member] | ||||
Platform Operator, Crypto-Asset [Line Items] | ||||
Derivative liabilities | ||||
Fair Value, Inputs, Level 2 [Member] | ||||
Platform Operator, Crypto-Asset [Line Items] | ||||
Derivative liabilities | ||||
Fair Value, Inputs, Level 3 [Member] | ||||
Platform Operator, Crypto-Asset [Line Items] | ||||
Derivative liabilities | $ 44,825,486 |
SCHEDULE OF VALUATION ON DERIVA
SCHEDULE OF VALUATION ON DERIVATIVE INSTRUMENTS (Details) - USD ($) | 6 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Platform Operator, Crypto-Asset [Line Items] | ||
Balance at beginning of period | ||
Change in fair value included in derivative expense | 671,903 | |
Balance at end of period | 44,825,486 | |
Fair Value, Inputs, Level 3 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Balance at beginning of period | ||
Initial valuation of derivative liabilities included in debt discount | 16,901,100 | |
Initial valuation of derivative liabilities included in derivative expense | 27,252,483 | |
Change in fair value included in derivative expense | 671,903 | |
Balance at end of period | $ 44,825,486 |
SCHEDULE OF REVENUES BY CATEGOR
SCHEDULE OF REVENUES BY CATEGORY (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Product Information [Line Items] | ||||
Total revenues | $ 169,787 | $ 19,500 | $ 225,082 | $ 98,475 |
Biopharma Services [Member] | ||||
Product Information [Line Items] | ||||
Total revenues | 156,555 | 87,975 | ||
Patient Testing Service [Member] | ||||
Product Information [Line Items] | ||||
Total revenues | $ 68,527 | $ 10,500 |
SCHEDULE OF CONTRACT LIABILITIE
SCHEDULE OF CONTRACT LIABILITIES (Details) - USD ($) | 6 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounting Policies [Abstract] | ||
Contract liabilities beginning balance | $ 156,550 | $ 135,150 |
Billings and cash receipts on uncompleted contracts | 159,465 | 220,813 |
Less: revenues recognized during the period | (41,500) | (22,250) |
Total contract liabilities | $ 274,515 | $ 333,713 |
SCHEDULE OF ANTI-DILUTIVE SHARE
SCHEDULE OF ANTI-DILUTIVE SHARES OUTSTANDING (Details) - shares | 6 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 27,357,926,252 | 4,652,856,399 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 7,200,020,533 | 1,820,535,692 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 1,901,410,519 | |
Series C-1 Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 21,167,535 | 281,626,175 |
Series C-2 Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 453,067,129 | |
Series E Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 638,977,636 | |
Series F Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 319,488,818 | |
Convertible Debt Securities [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total antidilutive securities excluded from computation of earnings | 18,235,327,665 | 1,139,160,949 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||
Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | |
Product Information [Line Items] | ||||||||
Net loss | $ 8,566,382 | $ 36,456,347 | $ 1,835,995 | $ 1,512,267 | $ 45,022,729 | $ 3,348,262 | ||
Net cash used in operating activities | 3,517,969 | 2,819,675 | ||||||
Accumulated deficit | 107,869,998 | 107,869,998 | $ 62,807,817 | |||||
Stockholder's equity | 52,332,236 | $ 44,302,919 | 3,918,693 | $ 4,865,914 | 52,332,236 | 3,918,693 | 6,801,055 | $ 4,945,362 |
Working capital deficit | 52,978,316 | 52,978,316 | ||||||
Cash on hand | 207,922 | 207,922 | 393,460 | |||||
Contract liabilities, revenue recognized | 3,500 | |||||||
Uncompleted contract liabilities, revenue recognized | $ 3,500 | |||||||
Research and development transaction term | The transaction term is for 5-years, starting in September 2021 | |||||||
Cash FDIC insured amount | 0 | $ 0 | 186,466 | |||||
Revenue | 169,787 | 19,500 | 225,082 | 98,475 | ||||
Accounts receivable | 40,610 | 40,610 | 32,125 | |||||
Deferred revenue | 274,515 | 274,515 | $ 156,550 | |||||
Patient reporting and contract research expense | 0 | 198,866 | ||||||
Uncertain tax positions | $ 0 | $ 0 | 0 | 0 | ||||
Income tax, interest and penalties | $ 0 | $ 0 | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer One [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 36.70% | 45% | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Two [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 14.30% | 44% | ||||||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Three [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 32.80% | |||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 84% | 59% | ||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 41% | |||||||
Customer Concentration Risk [Member] | Deferred Revenue [Member] | Customer One [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 81% | 65% | ||||||
Customer Concentration Risk [Member] | Deferred Revenue [Member] | Customer Two [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 11% | 24% | ||||||
General and Administrative Expense [Member] | ||||||||
Product Information [Line Items] | ||||||||
Research and development expense | $ 50,000 | $ 50,000 | ||||||
Minimum [Member] | ||||||||
Product Information [Line Items] | ||||||||
Property and equipment, estimated useful lives | 3 years | 3 years | ||||||
Maximum [Member] | ||||||||
Product Information [Line Items] | ||||||||
Property and equipment, estimated useful lives | 5 years | 5 years | ||||||
Cash FDIC insured amount | $ 250,000 | $ 250,000 |
MARKETABLE SECURITIES (Details
MARKETABLE SECURITIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2017 | Sep. 30, 2022 | |
Restructuring Cost and Reserve [Line Items] | ||||||
Marketable securities, unrealized gain (loss) | $ 800 | $ 8,500 | $ 2,800 | $ 3,100 | ||
Marketable securities | $ 900 | $ 900 | $ 3,700 | |||
Amarantus BioScience Holdings, Inc. [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Stock issued during period, shares, acquisitions | 1,000,000 | |||||
Stock issued during period, value, acquisitions | $ 40,980 |
SCHEDULE OF ACCOUNTS RECEIVABLE
SCHEDULE OF ACCOUNTS RECEIVABLE (Details) - USD ($) | Mar. 31, 2023 | Feb. 28, 2023 | Sep. 30, 2022 |
Receivables [Abstract] | |||
Accounts receivable | $ 48,110 | $ 35,957 | |
Less: allowance for doubtful accounts | (7,500) | $ (3,832) | (3,832) |
Accounts receivable, net | $ 40,610 | $ 32,125 |
ACCOUNTS RECEIVABLE (Details Na
ACCOUNTS RECEIVABLE (Details Narrative) - USD ($) | 6 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Feb. 28, 2023 | Sep. 30, 2022 | |
Receivables [Abstract] | ||||
Bad debt expense | $ 3,672 | |||
Bad debt expense | $ 7,500 | $ 3,832 | $ 3,832 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 |
Property, Plant and Equipment [Line Items] | |||
Laboratory equipment | $ 597,059 | $ 597,059 | |
Furniture | 24,567 | 24,567 | |
Leasehold improvements | 353,826 | 353,826 | |
Computer equipment | 76,470 | 68,490 | |
Property and equipment gross | 1,051,922 | 1,043,942 | |
Less accumulated depreciation | (439,327) | (357,815) | |
Property and equipment, net | $ 612,595 | $ 686,127 | |
Laboratory Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life in years | 5 years | ||
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life in years | 5 years | ||
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life in years | 5 years | ||
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life in years | 3 years |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation expense | $ 42,625 | $ 35,974 | $ 81,512 | $ 71,929 |
SCHEDULE OF CONVERTIBLE NOTES P
SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($) | Mar. 31, 2023 | Oct. 22, 2022 | Sep. 30, 2022 |
Debt Disclosure [Abstract] | |||
Principal amount | $ 8,986,605 | $ 2,475,000 | |
Less: debt discount | (6,100,154) | (2,028,719) | |
Convertible notes payable, net | 2,886,451 | $ 200,000 | 446,281 |
Less: current portion of convertible notes payable - related parties | (2,886,451) | ||
Convertible notes payable, net – long-term | 446,281 | ||
Principal amount – related parties | 8,975,192 | 4,150,000 | |
Less: debt discount – related parties | (5,959,565) | (1,844,186) | |
Convertible notes payable - related parties, net | 3,015,627 | 2,305,814 | |
Less: current portion of convertible notes payable - related parties | (3,015,627) | (1,000,000) | |
Convertible notes payable - related parties, net – long-term | 1,305,814 | ||
Total convertible notes payable, net | $ 5,902,078 | $ 2,752,095 |
SCHEDULE OF FAIR VALUE OF EMBED
SCHEDULE OF FAIR VALUE OF EMBEDDED OPTION AND STOCK WARRANTS (Details) | Mar. 31, 2023 |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Term (in years). maximum | 7 months 28 days |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Term (in years). maximum | 6 years 6 months |
Measurement Input, Expected Dividend Rate [Member] | |
Debt Instrument [Line Items] | |
Risk free interest rate maximum | 0 |
Measurement Input, Option Volatility [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Risk free interest rate maximum | 236.39 |
Measurement Input, Option Volatility [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Risk free interest rate maximum | 396.53 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Risk free interest rate maximum | 3.60 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Risk free interest rate maximum | 4.78 |
DEBT (Details Narrative)
DEBT (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Jan. 27, 2023 | Nov. 29, 2022 | Oct. 22, 2022 | Jul. 02, 2022 | Jun. 15, 2022 | May 09, 2022 | May 05, 2022 | Mar. 24, 2022 | Jan. 31, 2022 | Jan. 27, 2022 | Jan. 26, 2022 | Dec. 01, 2021 | Nov. 01, 2021 | Nov. 01, 2021 | Nov. 01, 2021 | Oct. 21, 2021 | Jul. 30, 2021 | May 12, 2021 | Apr. 26, 2021 | Apr. 30, 2022 | Jul. 31, 2021 | Jun. 30, 2021 | May 31, 2021 | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Oct. 21, 2022 | Sep. 30, 2022 | May 05, 2022 | Apr. 26, 2022 | Apr. 26, 2022 | Sep. 30, 2020 | Nov. 01, 2022 | Sep. 02, 2022 | Aug. 11, 2022 | Jul. 29, 2022 | Jul. 01, 2022 | Jun. 30, 2022 | Jun. 10, 2022 | May 24, 2022 | Apr. 05, 2022 | Jan. 01, 2022 | May 05, 2021 | Sep. 15, 2020 | Sep. 30, 2017 | |
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 298,571,429 | 16,393,443 | ||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 8,986,605 | $ 8,986,605 | $ 2,475,000 | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | 536,562 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 40,000 | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 42,040 | 42,040 | 38,440 | |||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 446,281 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 6,100,154 | 6,100,154 | 2,028,719 | |||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 6,056,696 | 276,170 | ||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 2,950,011 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | 5,902,078 | 5,902,078 | 2,752,095 | |||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 950,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | ||||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||
Long term debt and lease obligations | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,045,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | (5,434,447) | |||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | $ 200,000 | 2,886,451 | 2,886,451 | 446,281 | ||||||||||||||||||||||||||||||||||||||||||||
Settlement expense | $ 200,000 | 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Agreement description | Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Second Offering, and (ii) issue to Gunnar additional PA Warrants on the terms identical to the Warrants sold in the Second Offering in an amount equal to 10% of the New Debentures sold to Second Closing Purchasers | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | 44,825,486 | 44,825,486 | ||||||||||||||||||||||||||||||||||||||||||||||
Change in fair value included in derivative expenses | 671,903 | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative expense | $ 1,527,311 | $ 27,924,386 | ||||||||||||||||||||||||||||||||||||||||||||||
New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 157,142,857 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 831,922 | $ 8,837,284 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 29, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding description | Notwithstanding the preceding, holders of New Related Party Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing | |||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | $ 550,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 412,092 | |||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 58,200 | |||||||||||||||||||||||||||||||||||||||||||||||
Offering costs | $ 29,708 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||
Debt default percent | 50% | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from common stock | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | $ 13,149,369 | |||||||||||||||||||||||||||||||||||||||||||||||
New Related Party Debentures [Member] | Convertible Debt Securities [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Offering price percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||
New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 7,231,894 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 29, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding description | Notwithstanding the preceding, holders of New Debentures shall have the right to require satisfaction of up to 40% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing. Investors that are exchanging securityholders shall have the right to require satisfaction of up to 10% of all amounts outstanding under the Debentures, in cash, at the time of a Qualified Financing | |||||||||||||||||||||||||||||||||||||||||||||||
Debt percent | 70% | |||||||||||||||||||||||||||||||||||||||||||||||
Debt default percent | 50% | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities, current | 1,360,566 | $ 12,742,548 | ||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, beneficial conversion feature | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 372,303 | |||||||||||||||||||||||||||||||||||||||||||||||
Gunnar [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 95,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Legal fees payable | 7,500 | |||||||||||||||||||||||||||||||||||||||||||||||
Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 89,815 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | 2,192,488 | 21,986,653 | ||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | $ 19,974,442 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Private Placement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 16,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 385,441,138 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Shares price | 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Shares price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 120,750 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.00366 | $ 0.00366 | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 990,048 | $ 990,048 | $ 990,048 | |||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 464,992 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 3,564,937 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,768,379 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | New Related Party Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 4,860,255 | |||||||||||||||||||||||||||||||||||||||||||||||
Related party convertible debt | 589,505 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 1,860,974 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 500 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 66,630 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 375,000 | $ 120,000 | $ 375,000 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 375,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,110 | |||||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 275,000 | $ 125,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 275,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,683 | |||||||||||||||||||||||||||||||||||||||||||||||
Second Demand Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 150,000 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 350,000 | $ 120,000 | $ 350,000 | |||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 350,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,148 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 2,564,340,702 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The New Related Party Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the New Related Party Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25% | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | 2,567,601,521 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Notes [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 589,505 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | 10% | ||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 669,992 | $ 1,046,167 | $ 4,860,255 | |||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Notes [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 427,256 | |||||||||||||||||||||||||||||||||||||||||||||||
Share Exchange Agreement [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 566,406,072 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 3,275,631 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 801,428,569 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ 255,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant coverage percentage | 100% | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from intial public offerings | $ 2,095,288 | |||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | 296,800 | |||||||||||||||||||||||||||||||||||||||||||||||
Offering costs | 157,912 | |||||||||||||||||||||||||||||||||||||||||||||||
Dividends payable | $ 242,736 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest payable | 15% | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | The Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25% | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,949,909 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreement [Member] | Series C-1 Preferred Stock [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 902 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 372,303 | |||||||||||||||||||||||||||||||||||||||||||||||
Securities Exchange Agreement [Member] | Series C-2 Preferred Stock [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 3,037 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 1,245,935 | |||||||||||||||||||||||||||||||||||||||||||||||
Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 124,489,795 | 124,489,795 | ||||||||||||||||||||||||||||||||||||||||||||||
Agreement description | In connection with the Initial Closing of the private placement, the Company and Joseph Gunnar & Co. LLC, a U.S. registered broker-dealer (“Gunnar”), entered into a placement agency agreement (the “Placement Agency Agreement”), pursuant to which Gunnar agreed to act as the placement agent for the Offering (the “Placement Agent”). Pursuant to the terms of the Placement Agency Agreement, the Company agreed to (i) pay Gunnar a cash placement fee of 10% of the gross cash proceeds raised in the Offering, and (ii) issue to Gunnar warrants (the “PA Warrants”) on the terms identical to the Warrants sold in the Offering in an amount equal to 10% of the Underlying Securities sold to investors | |||||||||||||||||||||||||||||||||||||||||||||||
Promissory Note Agreement [Member] | Jeffrey Busch [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 150,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 33,315 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible Note [Member] | Demand Promissory Note Agreement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||||
Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 100,000 | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,110 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 834,803 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 178,449 | |||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from debt | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,901 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase price | 20% | |||||||||||||||||||||||||||||||||||||||||||||||
Demand Promissory Notes [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 4,150,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 120,750 | |||||||||||||||||||||||||||||||||||||||||||||||
Second November 2021 Notes [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 34,520 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 69,417 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 430,583 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Exchanged Convertible Notes [Member] | Securities Exchange Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 2,675,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 173,375 | |||||||||||||||||||||||||||||||||||||||||||||||
Related party debenture and new debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative instruments liabilities | $ 2,192,488 | 41,961,095 | ||||||||||||||||||||||||||||||||||||||||||||||
Related party debenture and new debentures [Member] | Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | $ 3,718,288 | $ 3,718,288 | ||||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of debt,amount | $ 1,724,489 | |||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable [Member] | Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 1,000 | 1,000 | 1,689 | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 33.30% | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,855 | 1,855 | ||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, beneficial conversion feature | 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 42,808 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, maturity date | May 12, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 984,200 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 957,192 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Securities Exchange Agreements [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Warrant reason for issuing, descriptions | in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | 8% | 8% | 8% | 8% | |||||||||||||||||||||||||||||||||||||||||||
Maturity date | Nov. 01, 2026 | May 12, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00313 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 250,000 | 1,000,000 | $ 250,000 | $ 250,000 | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 267,521 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 732,479 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, beneficial conversion feature | $ 15,800 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | First Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,334 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | Second Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,333 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | Third Tranche [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from related party debt | $ 333,333 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 63,897,764 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement June 2022 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,173 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | $ 44,438 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 5,562 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 5,924 | |||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from debt | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 20% | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Note One [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 334,000 | $ 334,000 | $ 334,000 | |||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 333,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investors [Member] | Note Three [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 333,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 15,710 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 120,808 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 304,192 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 10,504,202 | 18,251,367 | 18,251,367 | 18,251,367 | 17,857,144 | 10,504,202 | 10,504,202 | 10,504,202 | 4,201,681 | |||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 18,196,722 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement [Member] | Warrant Three [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 18,196,722 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Securities Purchase Agreement June 2022 [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 335,593 | |||||||||||||||||||||||||||||||||||||||||||||||
Investor [Member] | Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from debt | $ 425,000 | |||||||||||||||||||||||||||||||||||||||||||||||
First Investors [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 38,775,510 | 38,775,510 | 38,775,510 | |||||||||||||||||||||||||||||||||||||||||||||
First Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,959 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 72,081 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 427,919 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||
First Investors [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 136,612,022 | 218,579,234 | 218,579,234 | 218,579,234 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 34,620 | $ 34,620 | $ 34,620 | |||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 498,428 | |||||||||||||||||||||||||||||||||||||||||||||||
First Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,164 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 859,907 | |||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding description | the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. | |||||||||||||||||||||||||||||||||||||||||||||||
First Investors [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 140,093 | |||||||||||||||||||||||||||||||||||||||||||||||
Matthew Schwartz [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 18,959 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 81,041 | |||||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 136,612,022 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 500,000 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | 8% | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,520 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 71,221 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 428,779 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 136,612,022 | 109,289,616 | 27,322,406 | |||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | |||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 495,560 | |||||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 13,661,203 | 13,661,203 | 13,661,203 | |||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 13,661,203 | 13,661,203 | 13,661,203 | |||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Securities Purchase Agreement Second November Two Thousand Twenty One [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding description | the Company modified the terms of the Second November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Second November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Second November 2021 Notes | |||||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Note One [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 250,000 | $ 250,000 | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||
Second Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00366 | $ 0.00366 | $ 0.00366 | |||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 34,411 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 69,417 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 430,583 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 109,289,616 | 27,322,406 | 27,322,406 | 27,322,406 | ||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 22,429 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 500,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Fair value | $ 495,560 | |||||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 13,661,203 | 13,661,203 | 13,661,203 | |||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Securities Purchase Agreement [Member] | Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 13,661,203 | |||||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Convertible Note [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt outstanding description | Upon the approval of the Third November 2021 Investor, the Company modified the terms of the Third November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the Third November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the Third November 2021 Notes | |||||||||||||||||||||||||||||||||||||||||||||||
Third Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 250,000 | |||||||||||||||||||||||||||||||||||||||||||||||
July Investor [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 2,100,840 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2027 | |||||||||||||||||||||||||||||||||||||||||||||||
Conversion price | $ 0.00476 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 953 | |||||||||||||||||||||||||||||||||||||||||||||||
Convertible long term notes payable | 43,337 | |||||||||||||||||||||||||||||||||||||||||||||||
Unamortized discount | 6,663 | |||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
July Investor [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
July Investor [Member] | Securities Purchase Agreement [Member] | Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from debt | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
July Investor [Member] | Note Two [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal balance | $ 7,037 | |||||||||||||||||||||||||||||||||||||||||||||||
Placement Agent [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 16,393,443 | |||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ 0.003 | |||||||||||||||||||||||||||||||||||||||||||||||
Accredited Investors [Member] | Securities Exchange Agreement [Member] | New Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 2,805,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Gunnar [Member] | Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 124,489,795 | |||||||||||||||||||||||||||||||||||||||||||||||
Commission payable | $ 305,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Legal fees payable | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Advisory fees payable | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 150,000 | $ 100,000 | 350,000 | 350,000 | 350,000 | $ 350,000 | ||||||||||||||||||||||||||||||||||||||||||
Interest rate | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||
Maturity date | Apr. 01, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 4,219 | $ 4,219 | $ 2,474 | |||||||||||||||||||||||||||||||||||||||||||||
Gross proceeds from debt | $ 150,000 | $ 250,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||
Original amount | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Jeffrey Busch [Member] | Notes Payable Related Party [Member] | Promissory Note Agreement [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate | 2% |
SCHEDULE OF FINANCIAL LEASE RIG
SCHEDULE OF FINANCIAL LEASE RIGHT-OF-USE ASSETS (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
Financing ROU assets | $ 231,841 | $ 231,841 |
Less accumulated depreciation | (190,071) | (166,887) |
Balance of Financing ROU assets | $ 41,770 | $ 64,954 |
SCHEDULE OF FINANCING LEASE LIA
SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
Financing lease payables for equipment | $ 231,841 | $ 231,841 |
Total financing lease payables | 231,841 | 231,841 |
Payments of financing lease liabilities | (169,618) | (143,456) |
Total | 62,223 | 88,385 |
Less: short term portion | (48,145) | (53,995) |
Long term portion | $ 14,078 | $ 34,390 |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
2024 | $ 52,178 | |
2025 | 14,540 | |
Total minimum financing lease payments | 66,718 | |
Less: discount to fair value | (4,495) | |
Total financing lease payable on March 31, 2023 | $ 62,223 | $ 88,385 |
SCHEDULE OF OPERATING RIGHT-OF-
SCHEDULE OF OPERATING RIGHT-OF-USE ASSETS (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
Operating office lease | $ 1,212,708 | $ 1,212,708 |
Less accumulated reduction | (82,850) | (57,847) |
Balance of Operating ROU asset | $ 1,129,858 | $ 1,154,861 |
SCHEDULE OF OPERATING LEASE LIA
SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
Operating office lease | $ 1,212,708 | $ 1,212,708 |
Total operating lease liability | 1,212,708 | 1,212,708 |
Reduction of operating lease liability | (41,527) | (29,396) |
Total | 1,171,181 | 1,183,312 |
Less: short term portion | (28,401) | (25,551) |
Long term portion | $ 1,142,780 | $ 1,157,761 |
SCHEDULE OF FUTURE MINIMUM LE_2
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Lease Liabilities | ||
2024 | $ 121,092 | |
2025 | 124,724 | |
2026 | 128,466 | |
2027 | 133,194 | |
2028 | 137,190 | |
Thereafter | 1,344,359 | |
Total minimum non-cancellable operating lease payments | 1,989,025 | |
Less: discount to fair value | (817,844) | |
Total operating lease liability on March 31, 2023 | $ 1,171,181 | $ 1,183,312 |
LEASE LIABILITIES (Details Narr
LEASE LIABILITIES (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 10, 2021 ft² | Oct. 31, 2021 USD ($) | Jan. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Aug. 31, 2019 USD ($) | Mar. 31, 2019 USD ($) | Nov. 30, 2018 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Feb. 29, 2020 USD ($) | |
Financing lease payable | $ 26,162 | $ 23,132 | |||||||||||
Depreciation expense financing ROU asset | $ 11,592 | $ 11,592 | 23,184 | 23,184 | |||||||||
Operating lease, liability | 1,171,181 | 1,171,181 | $ 1,183,312 | ||||||||||
Operating asset | 1,129,858 | 1,129,858 | 1,154,861 | ||||||||||
Gain on lease modification | 8,229 | ||||||||||||
Operating office lease | $ 1,212,708 | 1,212,708 | $ 1,212,708 | ||||||||||
Operating lease cost | 106,424 | 96,438 | |||||||||||
Base lease cost | 72,137 | 57,531 | |||||||||||
Lease other expense | $ 34,287 | $ 38,907 | |||||||||||
Accounting Standards Update 2016-02 Cumulative Effect, Period of Adoption [Member] | |||||||||||||
Operating discount rates | 8% | 12% | |||||||||||
Operating lease, liability | $ 176,893 | $ 231,337 | |||||||||||
Operating asset | 168,664 | ||||||||||||
Gain on lease modification | 8,229 | ||||||||||||
Operating office lease | $ 1,212,708 | ||||||||||||
Minimum [Member] | |||||||||||||
Finance lease, discount rate | 8% | 8% | |||||||||||
Maximum [Member] | |||||||||||||
Finance lease, discount rate | 15% | 15% | |||||||||||
Lease Agreement [Member] | |||||||||||||
Lease description | The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 | ||||||||||||
Lease Agreement [Member] | First Year [Member] | |||||||||||||
Monthly base rent | $ 4,878 | ||||||||||||
Lease Agreement [Member] | Second year [Member] | |||||||||||||
Monthly base rent | 5,026 | ||||||||||||
Lease Agreement [Member] | Third Year [Member] | |||||||||||||
Monthly base rent | 5,179 | ||||||||||||
Lease Agreement [Member] | Fourth Year [Member] | |||||||||||||
Monthly base rent | 5,335 | ||||||||||||
Lease Agreement [Member] | Fifth Year [Member] | |||||||||||||
Monthly base rent | $ 5,495 | ||||||||||||
Lease Amendment [Member] | |||||||||||||
Rentable square feet | ft² | 4,734 | ||||||||||||
Monthly rent, description | the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen. | ||||||||||||
First Lessor [Member] | Financing Agreement [Member] | |||||||||||||
Monthly base rent | $ 379 | ||||||||||||
Lessee operating lease term | 60 months | ||||||||||||
Finance lease description | months commencing in November 2018 through October 2023 | ||||||||||||
Financing lease payable | $ 16,065 | ||||||||||||
Second Lessor [Member] | Financing Agreement [Member] | |||||||||||||
Monthly base rent | $ 1,439 | ||||||||||||
Lessee operating lease term | 60 months | ||||||||||||
Finance lease description | months commencing in November 2018 through October 2023 | ||||||||||||
Financing lease payable | $ 62,394 | ||||||||||||
Third Lessor [Member] | Financing Agreement [Member] | |||||||||||||
Monthly base rent | $ 1,496 | ||||||||||||
Lessee operating lease term | 60 months | ||||||||||||
Finance lease description | months commencing in March 2019 through February 2024 | ||||||||||||
Financing lease payable | $ 64,940 | ||||||||||||
Fourth Lessor [Member] | Financing Agreement [Member] | |||||||||||||
Monthly base rent | $ 397 | ||||||||||||
Finance lease description | months commencing in August 2019 through July 2024 | ||||||||||||
Financing lease payable | $ 19,622 | ||||||||||||
Finance lease term | 60 months | ||||||||||||
Fifth Lessor [Member] | Financing Agreement [Member] | |||||||||||||
Monthly base rent | $ 1,395 | ||||||||||||
Finance lease description | months commencing in January 2020 through December 2025 | ||||||||||||
Financing lease payable | $ 8,821 | ||||||||||||
Finance lease term | 60 months |
SCHEDULE OF RELATED PARTIES TRA
SCHEDULE OF RELATED PARTIES TRANSACTION (Details) - USD ($) | Mar. 31, 2023 | Sep. 30, 2022 |
Related Party Transaction [Line Items] | ||
Convertible notes principal – related parties | $ 8,975,192 | $ 4,150,000 |
Discount on convertible notes - related parties | (5,959,565) | (1,844,186) |
Accrued liabilities - related parties | 304,212 | 76,927 |
Related Party [Member] | ||
Related Party Transaction [Line Items] | ||
Note payable principal – related parties | 350,000 | 350,000 |
Accounts payable – related parties | 12,933 | 16,223 |
Total | $ 3,682,772 | $ 2,748,964 |
RELATED-PARTY TRANSACTIONS (Det
RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Jan. 27, 2023 | Nov. 29, 2022 | May 09, 2022 | May 09, 2022 | May 05, 2022 | Mar. 24, 2022 | Jan. 26, 2022 | Nov. 01, 2021 | Jul. 30, 2021 | May 12, 2021 | Jan. 01, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Sep. 30, 2022 | Nov. 01, 2022 | Sep. 02, 2022 | Aug. 11, 2022 | Jul. 29, 2022 | Jun. 15, 2022 | Apr. 05, 2022 | Oct. 21, 2021 | Apr. 26, 2021 | Sep. 15, 2020 | |
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Professional fees | $ 461,911 | $ 297,753 | $ 849,349 | $ 515,576 | |||||||||||||||||||||
Debt instrument, face amount | 8,986,605 | 8,986,605 | $ 2,475,000 | ||||||||||||||||||||||
Proceeds from Related Party Debt | 536,562 | 1,000,000 | |||||||||||||||||||||||
Accrued interest | $ 42,040 | 42,040 | $ 38,440 | ||||||||||||||||||||||
Warrants purchase | 298,571,429 | 16,393,443 | |||||||||||||||||||||||
Aggregate proceeds | 2,950,011 | 2,000,000 | |||||||||||||||||||||||
Bad debt expense | $ 3,672 | ||||||||||||||||||||||||
Principal balance | $ 1,045,000 | ||||||||||||||||||||||||
Warrant coverage percentage | 100% | ||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | $ 950,000 | ||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 26,667 | 26,667 | ||||||||||||||||||||||
Dividends payable | $ 33,315 | ||||||||||||||||||||||||
IPO [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 50,000 | ||||||||||||||||||||||||
Warrants purchase | 157,142,857 | ||||||||||||||||||||||||
Principal balance | $ 550,000 | ||||||||||||||||||||||||
Warrant coverage percentage | 100% | ||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | $ 412,092 | ||||||||||||||||||||||||
Payments for Commissions | 58,200 | ||||||||||||||||||||||||
Deferred Offering Costs | $ 29,708 | ||||||||||||||||||||||||
Series F Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | ||||||||||||||||||||||||
Warrants purchase | 63,897,764 | ||||||||||||||||||||||||
Preferred stock, shares authorized | 500 | 1,000 | |||||||||||||||||||||||
Series E Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | ||||||||||||||||||||||||
Preferred stock, shares authorized | 2,000 | ||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Warrants purchase | 385,441,138 | ||||||||||||||||||||||||
Shares price | $ 0.003 | ||||||||||||||||||||||||
Warrant [Member] | Convertible Debt [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Warrants purchase | 63,897,764 | ||||||||||||||||||||||||
Shares price | $ 0.003 | ||||||||||||||||||||||||
Majority Shareholder [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Bad debt expense | $ 35,594 | ||||||||||||||||||||||||
Board of Directors Chairman [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 350,000 | $ 350,000 | 350,000 | ||||||||||||||||||||||
Proceeds from Related Party Debt | $ 250,000 | ||||||||||||||||||||||||
Promissory notes interest rate percentage | 1% | ||||||||||||||||||||||||
Debt instrument default interest rate | 2% | ||||||||||||||||||||||||
Debt Instrument, Maturity Date | May 05, 2024 | ||||||||||||||||||||||||
Accrued interest | 4,219 | 4,219 | 2,474 | ||||||||||||||||||||||
May 2021 Securities Purchase Agreement [Member] | Investors [Member] | Convertible Note [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 1,000,000 | 1,000,000 | |||||||||||||||||||||||
Accrued interest | 20,164 | ||||||||||||||||||||||||
First November 2021 Securities Purchase Agreement [Member] | Investors [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt description | the Company modified the terms of the First November 2021 SPA which increased the warrants issuable from 20% to 100% of the common stock issuable upon conversion of the notes purchased. As a result, the First November 2021 Investor received additional cashless-exercisable warrants equal to 80% of the common stock issuable upon conversion of the First November 2021 Notes. | ||||||||||||||||||||||||
First November 2021 Securities Purchase Agreement [Member] | Investors [Member] | Warrant [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Warrants purchase | 218,579,234 | ||||||||||||||||||||||||
Fair value | $ 34,630 | ||||||||||||||||||||||||
First November 2021 Securities Purchase Agreement [Member] | Investors [Member] | Convertible Note [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 1,000,000 | 1,000,000 | |||||||||||||||||||||||
Accrued interest | 20,164 | ||||||||||||||||||||||||
Warrants purchase | 54,644,811 | ||||||||||||||||||||||||
First April 2022 Securities Purchase Agreement [Member] | Matthew Schwartz [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 100,000 | $ 100,000 | |||||||||||||||||||||||
Accrued interest | 3,901 | ||||||||||||||||||||||||
Warrants purchase | 4,201,681 | ||||||||||||||||||||||||
Aggregate proceeds | $ 100,000 | ||||||||||||||||||||||||
May 2022 Securities Purchase Agreement [Member] | Investors [Member] | Four Convertible Notes [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 1,000,000 | ||||||||||||||||||||||||
Accrued interest | 20,110 | ||||||||||||||||||||||||
Warrants purchase | 42,016,808 | 42,016,808 | |||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | ||||||||||||||||||||||||
Aggregate investment amount | $ 1,000,000 | $ 1,000,000 | |||||||||||||||||||||||
Warrants to purchase price | 20% | ||||||||||||||||||||||||
June 2022 Securities Purchase Agreement [Member] | Danica Holley [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 50,000 | $ 50,000 | |||||||||||||||||||||||
Accrued interest | 1,173 | ||||||||||||||||||||||||
Warrants purchase | 2,100,840 | ||||||||||||||||||||||||
Demand Promissory Note Agreement [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 375,000 | $ 120,000 | $ 375,000 | ||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | 8% | |||||||||||||||||||||||
Accrued interest | 4,110 | ||||||||||||||||||||||||
Demand Promissory Note Agreement One [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 350,000 | $ 120,000 | $ 350,000 | ||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | ||||||||||||||||||||||||
Accrued interest | 2,148 | ||||||||||||||||||||||||
Demand Promissory Note Agreement One [Member] | Convertible Note [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | 8% | |||||||||||||||||||||||
Securities Purchase Agreement [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 3,564,937 | ||||||||||||||||||||||||
Accrued interest | 120,750 | ||||||||||||||||||||||||
Principal balance | $ 3,564,937 | ||||||||||||||||||||||||
Dividends payable | 15% | ||||||||||||||||||||||||
Dividends payable | $ 464,992 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Principal balance | 1,000,000 | ||||||||||||||||||||||||
Dividends payable | 33,315 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Series E Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Principal balance | $ 2,000,000 | ||||||||||||||||||||||||
Dividends payable | 15% | ||||||||||||||||||||||||
Preferred stock, shares authorized | 1,000 | ||||||||||||||||||||||||
Dividends payable | $ 66,630 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Convertible Note [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Principal balance | 33,315 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Investors [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Investors [Member] | Series F Preferred Stock [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Fair value | 957,192 | ||||||||||||||||||||||||
Aggregate proceeds | 42,808 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Investors [Member] | Warrant [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Aggregate proceeds | $ 957,192 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Investors [Member] | Convertible Note [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 1,000,000 | $ 1,000,000 | |||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | 8% | 8% | 8% | |||||||||||||||||||||
Debt Instrument, Maturity Date | Nov. 01, 2026 | May 12, 2026 | |||||||||||||||||||||||
Accrued interest | 20,164 | ||||||||||||||||||||||||
Aggregate proceeds | $ 1,000,000 | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Investors [Member] | Convertible Note [Member] | Warrant [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Warrants purchase | 63,897,764 | ||||||||||||||||||||||||
Demand Promissory Notes [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 589,505 | ||||||||||||||||||||||||
Promissory notes interest rate percentage | 10% | 10% | |||||||||||||||||||||||
Principal balance | $ 669,992 | $ 1,046,167 | $ 4,860,255 | ||||||||||||||||||||||
Jeffrey Busch [Member] | Promissory Note Agreement [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 150,000 | $ 100,000 | |||||||||||||||||||||||
Jeffrey Busch [Member] | Demand Promissory Note Agreement [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | 275,000 | $ 125,000 | |||||||||||||||||||||||
Promissory notes interest rate percentage | 8% | ||||||||||||||||||||||||
Accrued interest | 2,683 | ||||||||||||||||||||||||
Jeffrey Busch [Member] | Second Demand Promissory Note Agreement [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Debt instrument, face amount | $ 150,000 | $ 150,000 | |||||||||||||||||||||||
Related Party [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Expense reimbursements | 12,933 | 12,933 | 16,223 | ||||||||||||||||||||||
Related party receivable | 0 | 0 | 0 | ||||||||||||||||||||||
Related Party [Member] | Majority Shareholder [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Advanced to related party | 13,883 | ||||||||||||||||||||||||
Mr. Kucharchuk [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Professional fees | $ 2,000 | ||||||||||||||||||||||||
Mr. Kucharchuk [Member] | Related Party [Member] | |||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||
Expense reimbursements | $ 6,000 | $ 6,000 | $ 12,000 |
SCHEDULE OF STOCK OPTION ACTIVI
SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Sep. 30, 2022 | ||
Equity [Abstract] | |||
Number of Options, Beginning Outstanding | 1,901,410,519 | ||
Weighted-average Exercise Price, Beginning Outstanding | $ 0.0036 | ||
Weighted-average Remaining Contractual Term | 9 years 4 months 17 days | 9 years 10 months 17 days | |
Outstanding-Aggregate Intrinsic Value, Beginning | |||
Number of Options, Granted | |||
Weighted-average Exercise Price, Granted | |||
Number of Options, Ending Outstanding | 1,901,410,519 | 1,901,410,519 | |
Weighted-average Exercise Price, Ending Outstanding | $ 0.0036 | $ 0.0036 | |
Outstanding-Aggregate Intrinsic Value, Ending | $ 0 | ||
Number of Options, Exercisable | [1] | 1,400,180,967 | |
Weighted-average Exercise Price, Exercisable | $ 0.0036 | ||
Weighted-average Remaining Contractual Term, Exercisable | 9 years 4 months 17 days | ||
Outstanding-Aggregate Intrinsic Value, Exercisable | $ 0 | ||
Number of Options, non vested and expected to vest, beginning balance | 547,666,344 | ||
Weighted-average Exercise Price, Beginning Outstanding | $ 0.0036 | ||
Weighted-average Exercise Price, Granted | |||
Number of Options, Vested during the period | (46,436,792) | ||
Weighted-average Exercise Price, Vested during the period | $ 0.0036 | ||
Number of Options, non vested and expected to vest, ending balance | 501,229,552 | 547,666,344 | |
Weighted-average Exercise Price, Ending Outstanding | $ 0.0036 | $ 0.0036 | |
Weighted-average Remaining Contractual Term | 9 years 10 months 9 days | ||
[1]These vested options are only exercisable upon the company filing an S-8 to register the underlying shares. |
SCHEDULE OF WARRANTS (Details)
SCHEDULE OF WARRANTS (Details) - Warrant [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Sep. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Number of Warrants, Outstanding Beginning balance | 1,888,813,005 | |
Weighted Average Exercise Price, Outstanding Beginning balance | $ 0.003 | |
Weighted Average Remaining Contractual Term (Years), Ending Balance Outstanding | 5 years 4 months 9 days | 3 years 3 months 3 days |
Aggregate Intrinsic Value, Beginning Balance Outstanding | $ 1,140,362 | |
Number of Warrants Issued in connection with a New Related Party Debentures (see Note 6) | 2,564,340,702 | |
Weighted Average Exercise Price, Issued in connection with a New Related Party Debentures (see Note 6) | $ 0.003 | |
Number of Warrants Issued in connection with a New Debentures (see Note 6) | 2,567,601,521 | |
Weighted Average Exercise Price, Issued in connection with a New Debentures (see Note 6) | $ 0.003 | |
Number of Warrants Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) | 179,265,305 | |
Weighted Average Exercise Price,Issued to placement agent and consultant in connection with New Related Party and New Debentures (see Note 6) | $ 0.000985 | |
Number of Warrants, Outstanding Ending balance | 7,200,020,533 | 1,888,813,005 |
Weighted Average Exercise Price, Outstanding Ending balance | $ 0.00149 | $ 0.003 |
Aggregate Intrinsic Value, Ending Balance Outstanding | $ 7,089,251 | $ 1,140,362 |
Number of Warrants, Exercisable | 7,200,020,533 | |
Weighted Average Exercise Price, Exercisable | $ 0.00149 | |
Weighted Average Remaining Contractual Term (Years), Exercisable | 5 years 4 months 9 days | |
Aggregate Intrinsic Value, Exercisable | $ 7,089,251 |
STOCKHOLDERS_ DEFICIT (Details
STOCKHOLDERS’ DEFICIT (Details Narrative) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Nov. 29, 2022 USD ($) $ / shares shares | Aug. 16, 2022 USD ($) $ / shares shares | Jul. 01, 2022 USD ($) $ / shares shares | Jun. 15, 2022 USD ($) $ / shares shares | May 09, 2022 USD ($) $ / shares shares | Apr. 30, 2022 USD ($) $ / shares shares | Apr. 18, 2022 shares | Apr. 05, 2022 USD ($) $ / shares shares | Jan. 31, 2022 USD ($) $ / shares shares | Jan. 27, 2022 USD ($) $ / shares shares | Jan. 26, 2022 USD ($) $ / shares shares | Nov. 01, 2021 USD ($) $ / shares shares | Jul. 30, 2021 USD ($) $ / shares shares | Sep. 15, 2020 $ / shares shares | May 18, 2020 $ / shares shares | Aug. 20, 2015 shares | Mar. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) shares | Mar. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) | Mar. 31, 2023 USD ($) $ / shares shares | Mar. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) $ / shares shares | Sep. 30, 2021 USD ($) $ / shares | Sep. 30, 2020 USD ($) | Jan. 27, 2023 shares | Sep. 20, 2022 shares | Jun. 30, 2022 shares | May 12, 2021 $ / shares | Sep. 24, 2020 $ / shares shares | Sep. 22, 2020 $ / shares shares | Sep. 16, 2020 USD ($) shares | |
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 100,000,000,000 | 12,000,000,000 | 12,000,000,000 | 6,666,667 | |||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 26,667 | 26,667 | |||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 500 | |||||||||||||||||||||||||||||||
Conversion of stock shares converted | 280,475,491 | |||||||||||||||||||||||||||||||
Aggregate investment amount | $ | ||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 1,000,000 | $ (1,618,238) | ||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 33,315 | |||||||||||||||||||||||||||||||
Dividend preferred stock | $ | 26,301 | 39,452 | $ 40,329 | |||||||||||||||||||||||||||||
Dividends payable | $ | $ 0 | 0 | 40,329 | |||||||||||||||||||||||||||||
Proceeds from convertible debt, net | $ | $ 2,950,011 | $ 2,000,000 | ||||||||||||||||||||||||||||||
Number of share authorized | 1,901,410,519 | 1,901,410,519 | ||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0036 | |||||||||||||||||||||||||||||||
Expected dividend yield | 0% | |||||||||||||||||||||||||||||||
Expected volatility | 365.10% | |||||||||||||||||||||||||||||||
Risk-free interest rate | 2.82% | |||||||||||||||||||||||||||||||
Stock based compensation expense | $ | $ 7,985,924 | $ 1,400,495 | $ 702,633 | $ 3,153,194 | 1,328,488 | |||||||||||||||||||||||||||
Stock option expense | $ | 537,065 | $ 1,149,238 | ||||||||||||||||||||||||||||||
Options vested and exercisable | 1,400,180,967 | |||||||||||||||||||||||||||||||
Unvested stock based compensation expense | $ | 821,064 | $ 821,064 | ||||||||||||||||||||||||||||||
Aggregate intrinsic value | $ | $ 0 | $ 0 | ||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0036 | $ 0.0036 | $ 0.0036 | |||||||||||||||||||||||||||||
Warrant received | 16,393,443 | 298,571,429 | ||||||||||||||||||||||||||||||
Current Exercise Price [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range, lower range limit | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | 0.00476 | |||||||||||||||||||||||||||||||
New Exercise Price [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Equity Option [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0023 | $ 0.0023 | ||||||||||||||||||||||||||||||
2022 Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of share authorized | 1,901,410,519 | |||||||||||||||||||||||||||||||
First November 2021 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 34,630 | $ 990,048 | ||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 218,579,234 | 54,644,811 | ||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||
Second November 2021 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 22,429 | $ 495,560 | ||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 109,289,616 | 27,322,406 | ||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||
Third November 2021 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 22,429 | $ 495,560 | ||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 109,289,616 | 27,322,406 | ||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | $ 0.00366 | ||||||||||||||||||||||||||||||
First January 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 472,403 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 136,612,022 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||
Second January 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 469,810 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 136,612,022 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||
First April 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 89,815 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 4,201,681 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||
Second April 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 335,593 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 17,857,144 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||
May 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 178,449 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 42,016,808 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||
June 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 5,924 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 2,100,840 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||
July 2022 [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 8,190 | |||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 2,100,840 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00476 | |||||||||||||||||||||||||||||||
First November Two Thousand And Twenty One [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 385,441,138 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Second November Two Thousand And Twenty One [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 566,406,072 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range, lower range limit | $ / shares | 0.00366 | |||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | 0.00476 | |||||||||||||||||||||||||||||||
Second November Two Thousand And Twenty One [Member] | New Exercise Price [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share-based payment arrangement, option, exercise price range,upper range limit | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Equity Option [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common stock capital shares reserved for future issuance | 1,915,000,000 | |||||||||||||||||||||||||||||||
Fair market value, percentage | 110% | |||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 464,992 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||
Securities Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of warrants or rights outstanding | 2,564,340,702 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Warrant or right, reason for issuance, description | The New Related Party Warrants are exercisable for five years and six months from the earlier of the maturity date of the New Related Party Debentures and the closing of the Qualified Financing, at an exercise price equal to (i) in the event that a Qualified Offering is consummated prior to the exercise of the New Related Party Warrant, the price per share at which the Qualified Offering is made (“Qualified Offering Price”), or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. If there is no effective registration statement covering the resale of the shares underlying the New Related Party Warrants within 180 days following the closing of the Qualified Offering: (i) exercise may be via cashless exercise, and (ii) 5% additional Warrants will be issued by the Company to the holders for any portion of each month without such effective registration statement, up to a maximum of 25% | |||||||||||||||||||||||||||||||
Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Warrant received | 124,489,795 | 124,489,795 | ||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 163,637,529 | |||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 16,364 | |||||||||||||||||||||||||||||||
Dividend preferred stock | $ | ||||||||||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,564,340,702 | |||||||||||||||||||||||||||||||
Warrant [Member] | Securities Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,564,340,702 | |||||||||||||||||||||||||||||||
Warrant or right, reason for issuance, description | in the event that a Qualified Offering is consummated prior to the exercise of the Warrant, the Qualified Offering Price, or (ii) in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||
Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | ||||||||||||||||||||||||||||||||
Dividend preferred stock | $ | ||||||||||||||||||||||||||||||||
Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Proceeds from convertible debt, net | $ | $ 1,000,000 | |||||||||||||||||||||||||||||||
Investors [Member] | Warrant [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 63,897,764 | |||||||||||||||||||||||||||||||
Proceeds from convertible debt, net | $ | $ 957,192 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00313 | |||||||||||||||||||||||||||||||
Investors [Member] | Warrant [Member] | Securities Exchange Agreements [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share based compensation, New related party debentures | 2,269,030,092 | |||||||||||||||||||||||||||||||
Warrant or right, reason for issuance, description | in the event that no Qualified Offering has been consummated, the lower of: (A) $0.003 per share and (B) an amount equal to 70% of the average of the VWAP (or 50% of the average of the VWAP if an event of default has occurred and has not been cured) for the Common Stock over the ten Trading Days preceding the date of the delivery of the applicable exercise notice. | |||||||||||||||||||||||||||||||
Two Consultants [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 54,595 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.00366 | |||||||||||||||||||||||||||||||
Shares issued | 16,393,443 | |||||||||||||||||||||||||||||||
Consultant [Member] | Placement Agency Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Warrant received | 16,000,000 | 16,000,000 | ||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Capital units authorized | 1,333 | |||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 26,667 | 1,333 | 1,333 | 1,333 | ||||||||||||||||||||||||||||
Stockholder voting rights | Each holder of Series A Preferred Stock is entitled to 500 votes for each share of Series A Preferred Stock held as of the applicable date on any matter that is submitted to a vote or for the consent of the stockholders of the Company. The holders of Series A Preferred Stock shall have no special voting rights and their consent is not required (except to the extent they are entitled to vote with holders of Common Stock as set forth herein) for the taking of any corporate action. | |||||||||||||||||||||||||||||||
Preferred stock, shares issued | 667 | 667 | 667 | |||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 667 | 667 | 667 | |||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | ||||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | Board of Directors [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 667 | 667 | 667 | |||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 667 | 667 | 667 | |||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Capital units authorized | 3,000 | |||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 3,000 | 3,000 | 3,000 | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 141 | 141 | 1,043 | |||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 141 | 141 | 1,043 | 1,043 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 1,923 | |||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 902 | |||||||||||||||||||||||||||||||
Stock issued during period, value, conversion of units | $ | $ 372,303 | |||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.0275 | |||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.0275 | |||||||||||||||||||||||||||||||
Conversion percentage | 0.80 | |||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 499% | |||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 288,637,529 | |||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | (902) | (1,090) | ||||||||||||||||||||||||||||||
Series C-1 Preferred Stock [Member] | Board of Directors [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 4,128.42 | |||||||||||||||||||||||||||||||
Series C-2 Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Capital units authorized | 6,000 | |||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 6,000 | 6,000 | 6,000 | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 3,037 | |||||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 3,037 | |||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00275 | |||||||||||||||||||||||||||||||
Conversion percentage | 0.80 | |||||||||||||||||||||||||||||||
Common stock outstanding, percentage | 4.99% | |||||||||||||||||||||||||||||||
Conversion of stock shares converted | 1,880 | |||||||||||||||||||||||||||||||
Series C-2 Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 3,037 | |||||||||||||||||||||||||||||||
Stock issued during period, value, conversion of units | $ | $ 1,245,935 | |||||||||||||||||||||||||||||||
Series C-2 Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | (3,037) | |||||||||||||||||||||||||||||||
Series C-2 Preferred Stock [Member] | Board of Directors [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 410.27 | |||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 2,000 | |||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | |||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 2,000 | |||||||||||||||||||||||||||||||
Debt interest rate | 8% | |||||||||||||||||||||||||||||||
Preferred stock conversion description | Each share of Series E Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0021. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number by the conversion price. | |||||||||||||||||||||||||||||||
Public offering, description | In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series E (including any fraction of a share) shall automatically convert into an aggregate number of shares of common stock (including any fraction of a share) by multiplying the number of outstanding shares by the stated value per share of $2,000 plus accrued dividends and dividing that number (including any fraction of a share) by the lesser of: (i) $0.00375 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series E Certificate of Designation including a price protection provision for offerings below the conversion price. However, the conversion price shall never be less than $0.0021. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series E shall be deemed to have been converted into shares of Common Stock immediately prior to the closing of such transaction or Qualified Public Offering. | |||||||||||||||||||||||||||||||
Temporary equity, shares issued | 1,000 | |||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||
Dividend preferred stock | $ | $ 26,301 | 79,781 | ||||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 1,000 | |||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||||||||||||||||||||||||
Number of shares conversion of convertible securities | 1,000 | |||||||||||||||||||||||||||||||
Temporary equity, shares issued | 1,000 | |||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||
Number of conversion of convertible securities, value | $ | $ 2,000,000 | |||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 66,630 | |||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00375 | |||||||||||||||||||||||||||||||
Series E Preferred Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00313 | |||||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 500 | 1,000 | ||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.0001 | |||||||||||||||||||||||||||||||
Preferred stock, stated value | $ / shares | $ 2,000 | |||||||||||||||||||||||||||||||
Debt interest rate | 8% | |||||||||||||||||||||||||||||||
Preferred stock conversion description | Each share of Series F Preferred Stock is convertible into shares of common stock any time after the initial issuance date at the conversion price which is the lesser of: (i) $0.00313 or (ii) 75% of the average closing price of the common stock during the prior five trading days on the principal market, subject to adjustment as provided in the Series F Certificate of Designation including a price protection provision for offerings below the conversion price, provided, however, the conversion price shall never be less than $0.0016. The number of shares of common stock issuable upon conversion shall be determined by multiplying the number of outstanding shares by the stated value per share of $2,000 plus additional amount by the conversion price. | |||||||||||||||||||||||||||||||
Public offering, description | In connection with, (i) a Change of Control of the Company or (ii) on the closing of, a Qualified Public Offering by the Company, all of the outstanding shares of Series F Preferred Stock (including any fraction of a share) shall automatically convert along with the additional amount into an aggregate number of shares of common stock (including any fraction of a share) as is determined by dividing the number of shares of Series F Preferred Stock (including any fraction of a share) by the automatic conversion price then in effect. If a closing of a Change of Control transaction or a Qualified Public Offering occurs, such automatic conversion of all of the outstanding shares of Series F Preferred Stock shall be deemed to have been converted into shares of common stock immediately prior to the closing of such transaction or Qualified Public Offering. | |||||||||||||||||||||||||||||||
Temporary equity, shares issued | 500 | |||||||||||||||||||||||||||||||
Aggregate investment amount | $ | $ 1,000,000 | |||||||||||||||||||||||||||||||
Dividend preferred stock | $ | 13,151 | $ 39,891 | ||||||||||||||||||||||||||||||
Dividends payable | $ | $ 0 | $ 0 | $ 20,164 | |||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 500 | |||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 42,808 | |||||||||||||||||||||||||||||||
Number of warrants exercise price per share | $ / shares | $ 0.003 | |||||||||||||||||||||||||||||||
Warrant received | 63,897,764 | |||||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Dividends payable current and non current | $ | $ 33,315 | |||||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Temporary equity, shares outstanding | 0 | 0 | 500 | |||||||||||||||||||||||||||||
Series F Preferred Stock [Member] | Investors [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 2,000 | |||||||||||||||||||||||||||||||
Preferred stock conversion description | The number of shares of common stock issuable upon conversion of the Series F Preferred is determined by dividing the stated value of the number of shares being converted, plus any accrued and unpaid dividends, by the lesser of: (i) $0.00313 and (ii) 75% of the average closing price of the Company’s common stock during the prior five trading days; provided, however, the conversion price shall never be less than $0.0016. In addition, the investor was issued a Warrant to purchase an amount of common stock equal to 20% of the shares of common stock issuable upon conversion of the Series F Preferred at an exercise price of $0.00313 per share (subject to adjustment as provided therein) until July 30, 2026. The Warrants are exercisable for cash at any time. The 63,897,764 Warrant was valued using the relative fair value method at $957,192 and the Series F Preferred stock had a grant date fair value $42,808 which was recorded as a BCF. | |||||||||||||||||||||||||||||||
Beneficial conversion feature amount | $ | $ 957,192 | |||||||||||||||||||||||||||||||
Sale of stock shares issued in transaction | 500 | |||||||||||||||||||||||||||||||
Proceeds from convertible debt, net | $ | $ 42,808 | |||||||||||||||||||||||||||||||
Debt Insterest rate | 8% | |||||||||||||||||||||||||||||||
Fair value Adjustment of warrant | $ | $ 957,192 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
Dec. 05, 2022 USD ($) shares | Aug. 16, 2022 $ / shares shares | Dec. 31, 2021 USD ($) | Dec. 10, 2021 USD ($) | Jun. 10, 2021 ft² | Jan. 01, 2021 USD ($) | Sep. 24, 2020 USD ($) $ / shares | Jul. 05, 2020 USD ($) $ / shares shares | Jun. 05, 2020 USD ($) $ / shares shares | Mar. 31, 2023 USD ($) shares | Dec. 31, 2019 | Mar. 31, 2018 USD ($) | Sep. 30, 2006 USD ($) | Mar. 31, 2023 USD ($) shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2017 USD ($) shares | |
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options granted | shares | ||||||||||||||||
Stock options aggregate | shares | 1,901,410,519 | 1,901,410,519 | 1,901,410,519 | |||||||||||||
Accrued consulting fees | $ 6,000 | $ 6,000 | $ 12,000 | |||||||||||||
Consideration liability | 82,040 | 82,040 | 78,440 | |||||||||||||
Notes payables | 40,000 | 40,000 | 40,000 | |||||||||||||
Accrued interest payable | 42,040 | 42,040 | 38,440 | |||||||||||||
Litigation settlement number of shares | shares | 200,000 | |||||||||||||||
Litigation settlement shares, value | $ 2,000 | |||||||||||||||
Minimum [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Loss contingency damages sought value | $ 100,000,000 | |||||||||||||||
Busch Employment Agreement [Member]. | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Accrued director compensation | 222,500 | 222,500 | 192,500 | |||||||||||||
Consulting Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Compensation fees | $ 2,000 | |||||||||||||||
Exclusive License Agreement [Member] | George Mason University [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Royalty expense | $ 50,000 | |||||||||||||||
Revenue percentage | 1.50% | |||||||||||||||
Advance royalties | 2,781 | 2,781 | 2,443 | |||||||||||||
Exclusive License Agreement [Member] | Sublicense Royalty [Member] | George Mason University [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Revenue percentage | 15% | |||||||||||||||
License Agreement [Member] | National Institutes of Health [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Royalty expense | $ 1,000 | |||||||||||||||
Revenue percentage | 300% | |||||||||||||||
Advance royalties | 0 | 0 | 0 | |||||||||||||
Non refundable minimum annual royalty | $ 5,000 | |||||||||||||||
License Agreement [Member] | Vanderbilt License Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Royalty expense | 5,556 | |||||||||||||||
Advance royalties | $ 0 | 0 | ||||||||||||||
License Agreement [Member] | Minimum [Member] | Vanderbilt License Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Revenue percentage | 25% | |||||||||||||||
License Agreement [Member] | Maximum [Member] | Vanderbilt License Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Revenue percentage | 200% | |||||||||||||||
License Agreement [Member] | Sublicense Royalty [Member] | National Institutes of Health [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Revenue percentage | 10% | |||||||||||||||
Lease Agreements [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Lessee operating lease description | In December 2019, the Company entered into a lease agreement for its corporate and laboratory facility in Golden, Colorado. The lease is for a period of 61 months, with an option to extend, commencing in February 2020 and expiring in February 2025 | |||||||||||||||
Lease Amendment [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Rentable square feet | ft² | 4,734 | |||||||||||||||
Monthly rent, description | the Company must pay a total annual base rent of; (1) $115,823 for year one; (2) $119,310 for year two; (3) $122,893 for year three; (4) $126,580 for year four; (5) $130,377 for year five; (6) $135,163 for year six; (7) $139,218 for year seven; (8) $143,394 for year eight; (9) $147,696 for year nine; (10) $152,127 for year ten; (11) $156,331 for year eleven; (12) $161,391 for year twelve; (13) $166,233 for year thirteen; (14) $171,220 for year fourteen and; (15) $176,357 for year fifteen. | |||||||||||||||
Dr. Michael Ruxin [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Annual base salary | 251,464 | $ 112,500 | ||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 300,000 | |||||||||||||||
Annual decretionary bonus percentage | 150% | |||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | 2022 Equity Incentive Plan [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Restricted stock, shares | shares | 49,047,059 | 49,047,059 | ||||||||||||||
Stock options granted | shares | 420,691,653 | |||||||||||||||
Stock options aggregate | shares | 469,738,712 | |||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||
Dr. Michael Ruxin [Member] | Ruxin Employment Agreement [Member] | 2022 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options granted | shares | 420,691,653 | |||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member]. | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 60,000 | |||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member]. | 2020 Equity Incentive Plan [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member]. | 2020 Equity Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options granted | shares | 420,691,653 | 420,691,653 | ||||||||||||||
Jeffrey Busch [Member] | Busch Employment Agreement [Member]. | 2020 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Restricted stock, shares | shares | 49,047,059 | 49,047,059 | ||||||||||||||
Stock options aggregate | shares | 469,738,712 | |||||||||||||||
Thomas E Chilcott, III [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Deferred compensation arrangements overall description | The Board also approved two new bonuses for which Mr. Chilcott was eligible: (i) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $1,000,000; and (ii) a $37,500 bonus payable upon the Company’s completion of a capital raise of at least $2,000,000 in the aggregate. On December 6, 2022, the Board approved a bonus compensation plan pursuant to which Thomas E. Chilcott, III, the Company’s Chief Financial Officer, was eligible for: (i) a $150,000 bonus payable upon the successful filing of the Company’s report on Form 10-K for the annual period ended September 30, 2022 (the “ Annual Report “) on or before December 29, 2022; or (ii) a $100,000 bonus payable upon the successful filing of the Company’s Annual Report on or before January 13, 2023 (collectively, the “Bonus”) | |||||||||||||||
Thomas E Chilcott, III [Member] | Minimum [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 150,000 | |||||||||||||||
Annual base salary | $ 225,000 | |||||||||||||||
Thomas E Chilcott, III [Member] | Maximum [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 300,000 | |||||||||||||||
Thomas E Chilcott, III [Member] | Offer Letter [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 225,000 | |||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||
Deferred compensation arrangements overall description | Mr. Chilcott is entitled to participate in all medical and other benefits that the Company has established for its employees. The offer letter also provides that Mr. Chilcott will be granted an option to purchase up to 94,545,096 shares of the Company’s common stock which were granted on August 16, 2022 with an exercise price of $0.0036 and an expiration date of August 15, 2032 and subject to vesting terms. | |||||||||||||||
Zaslavsky [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Salaries | $ 400,000 | |||||||||||||||
Base salary percentage | 35% | |||||||||||||||
Zaslavsky [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Sharebased compensation available for grant | shares | 150,000,000 | |||||||||||||||
Vesting percentage | 20% | |||||||||||||||
Consultant [Member] | Scientific Advisory Board Service Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Compensation fees | $ 2,000 | |||||||||||||||
Payments for fees | $ 1,500 | |||||||||||||||
Consultant [Member] | Scientific Advisory Board Service Agreement [Member] | 2022 Equity Incentive Plan [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options granted | shares | 88,786,943 | |||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 | |||||||||||||||
Consultant [Member] | Pathology Advisory Board Service Agreement [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Compensation fees | $ 272 | |||||||||||||||
Consultant [Member] | Pathology Advisory Board Service Agreement [Member] | 2022 Equity Incentive Plan [Member] | ||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||
Stock options granted | shares | 77,972,192 | |||||||||||||||
Stock options exercise price | $ / shares | $ 0.0036 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | May 05, 2023 | Apr. 11, 2023 | Apr. 28, 2023 | Mar. 31, 2023 | Jan. 27, 2023 | Nov. 29, 2022 | Sep. 30, 2022 |
Subsequent Event [Line Items] | |||||||
Principal amount | $ 8,986,605 | $ 2,475,000 | |||||
Fair value adjustment of warrants | 298,571,429 | 16,393,443 | |||||
Securities Purchase Agreement [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Principal amount | $ 3,564,937 | ||||||
Subsequent Event [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Warrant percentage | 100% | ||||||
Gross proceeds | $ 141,000 | ||||||
Percentage of original issue discount | 10% | ||||||
Interest rate | 10% | ||||||
Subsequent Event [Member] | Douglass T Mergenthaler [Member] | Securities Purchase Agreement [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Deposits Paid for Securities Borrowed, at Carrying Value | $ 110,000 | ||||||
Subsequent Event [Member] | Mr. Kucharchuk [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Annual base salary | $ 180,000 | ||||||
Subsequent Event [Member] | New Debenture [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Principal amount | $ 155,100 | ||||||
Fair value adjustment of warrants | 44,314,286 |