Cover
Cover | 6 Months Ended |
Mar. 31, 2022 | |
Cover [Abstract] | |
Entity Registrant Name | CYTTA CORP. |
Entity Central Index Key | 0001383088 |
Document Type | S-1 |
Amendment Flag | false |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Filer Category | Non-accelerated Filer |
Entity Incorporation State Country Code | NV |
Entity Tax Identification Number | 98-0505761 |
Entity Address Address Line 1 | 5450 W Sahara Avenue, Suite 300A |
Entity Address City Or Town | Las Vegas |
Entity Address State Or Province | NV |
Entity Address Postal Zip Code | 89146 |
City Area Code | 702 |
Local Phone Number | 900-7022 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
CURRENT ASSETS | |||
Cash and cash equivalents | $ 2,140,497 | $ 173,196 | $ 847,646 |
Accounts Receivable | 0 | 27,694 | 0 |
Inventory | 0 | 78,765 | 34,199 |
Prepaid Expenses | 411,732 | 772,394 | 559,443 |
Vendor deposits | 0 | 50,400 | 0 |
Total Current Assets | 2,552,229 | 1,102,449 | 1,441,288 |
Property and Equipment | 146,798 | 170,605 | 143,058 |
TOTAL ASSETS | 2,699,027 | 1,273,054 | 1,584,346 |
Current liabilities | |||
Accounts payable and accrued liabilities | 52,403 | 46,055 | 47,210 |
Accounts payable related parties | 135,927 | 12,551 | 0 |
Dividend payable | 33,427 | 21,033 | 0 |
Customer deposits | 0 | 50,480 | |
Deferred revenue | 1,716 | 3,588 | 0 |
Stock to be issued | 54,750 | 323,583 | 486,750 |
Total current liabilities | 278,223 | 406,810 | 584,440 |
COMMITMENTS AND CONTINGENCIES | 0 | 0 | |
STOCKHOLDERS' EQUITY | |||
Common stock:(500,000,000 shares authorized par value $0.001; 376,815,718 and 296,236,627 shares issued and outstanding March 31, 2022, and September 30, 2021) | 376,816 | 296,237 | 289,148 |
Additional paid-in capital | 27,508,359 | 23,330,612 | 20,891,476 |
Accumulated Deficit | (25,465,021) | (22,774,905) | (20,181,368) |
Total Stockholders' Equity | 2,420,804 | 866,244 | 999,906 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 2,699,027 | 1,273,054 | 1,584,346 |
ASSETS | |||
Preferred stock | 600 | ||
Preferred Stock Series C [Member] | |||
ASSETS | |||
Preferred stock | 600 | 600 | |
Preferred Stock Series D [Member] | |||
ASSETS | |||
Preferred stock | 50 | 50 | 50 |
Preferred Stock Series E [Member] | |||
ASSETS | |||
Preferred stock | 0 | 13,650 | $ 0 |
Preferred Stock Series F [Member] | |||
ASSETS | |||
Preferred stock | $ 0 | $ 0 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Common stock share, authorized | 500,000,000 | 500,000,000 | 500,000,000 |
Common stock share, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock share, issued | 376,815,718 | 296,236,627 | 289,147,675 |
Common stock share, outstanding | 376,815,718 | 296,236,627 | 289,147,675 |
Preferred stock share, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock share, authorized | 100,000,000 | 100,000,000 | 100,000,000 |
Preferred Stock Series C [Member] | |||
Preferred stock share, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock share, authorized | 100,000,000 | 10,000,000 | |
Preferred stock share, issued | 600,000 | 600,000 | 600,000 |
Preferred stock share, outstanding | 600,000 | 600,000 | 600,000 |
Preferred Stock Series D [Member] | |||
Preferred stock share, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock share, authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock share, issued | 50,000 | 50,000 | 50,000 |
Preferred stock share, outstanding | 50,000 | 50,000 | 50,000 |
Preferred Stock Series E [Member] | |||
Preferred stock share, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock share, authorized | 13,650,000 | 13,650,000 | 13,650,000 |
Preferred stock share, issued | 0 | 13,650,000 | 0 |
Preferred stock share, outstanding | 0 | 13,650,000 | 0 |
Preferred Stock Series F [Member] | |||
Preferred stock share, par value | $ 0.001 | $ 0.001 | |
Preferred stock share, authorized | 59,270,000 | 59,270,000 | |
Preferred stock share, issued | 0 | 0 | |
Preferred stock share, outstanding | 0 | 0 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Condensed Statements of Operations (Unaudited) | ||||||
Revenues | $ 936 | $ 0 | $ 1,873 | $ 70,520 | $ 94,626 | $ 48,513 |
Cost of goods sold | 0 | 0 | 0 | 25,277 | 41,872 | 24,037 |
Gross Profit | 936 | 0 | 1,873 | 45,243 | 52,754 | 24,476 |
Operating expenses | ||||||
Related party | 212,864 | 153,564 | 678,146 | 302,961 | 648,831 | 871,760 |
General and administrative, other | 1,312,004 | 400,239 | 1,965,708 | 769,005 | 1,976,471 | 418,066 |
Total Operating Expenses | 1,524,868 | 553,803 | 2,643,854 | 1,071,966 | 2,625,302 | 1,289,826 |
Other expenses | ||||||
Loss from operations | (1,523,932) | (553,803) | (2,641,981) | (1,026,723) | (2,572,548) | (1,265,350) |
Interest expense | 2,078 | (342) | 48,135 | 0 | 20,989 | 1,494 |
Interest income | 0 | 0 | 259 | |||
Total Other Expenses | 2,078 | (342) | 48,135 | 259 | 20,989 | 1,494 |
Loss before income taxes | (1,526,010) | (554,145) | (2,690,116) | (1,026,464) | (2,593,537) | (1,266,844) |
Provision for income taxes | 0 | 0 | 0 | 0 | 0 | 0 |
Net Loss | $ (1,526,010) | $ (554,145) | $ (2,690,116) | $ (1,026,464) | $ (2,593,537) | $ (1,266,844) |
Loss per share, basic and fully diluted | $ 0 | $ 0 | $ (0.01) | $ 0 | $ (0.01) | $ (0.01) |
Weighted average shares outstanding Basic and diluted | 376,366,281 | 292,301,898 | 338,298,054 | 293,846,505 | 294,491,512 | 206,980,736 |
Condensed Statement of Changes
Condensed Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings (Accumulated Deficit) | Preferred Stock Series F [Member] | Preferred Stock Series C [Member] | Preferred Stock Series D [Member] | Preferred Stock Series E [Member] | Pereferred Stock to be issued (Member) |
Balance, shares at Sep. 30, 2019 | 185,547,675 | 600,000 | |||||||
Balance, amount at Sep. 30, 2019 | $ 185,548 | $ 17,083,482 | $ (18,914,524) | $ 600 | $ 0 | $ 0 | |||
Capital stock issued for cash, shares | 44,600,000 | ||||||||
Capital stock issued for cash, amount | $ 975,000 | $ 44,600 | 930,400 | 0 | 0 | 0 | 0 | ||
Common Stock issued for stock to be issued, shares | 9,150,000 | ||||||||
Common Stock issued for stock to be issued, amount | 350,000 | $ 9,150 | 340,850 | 0 | 0 | 0 | 0 | ||
Common stock issued for technology, shares | 20,000,000 | ||||||||
Common stock issued for technology, amount | 500,000 | $ 20,000 | 480,000 | 0 | 0 | $ 0 | 0 | ||
Common stock issued for services, shares | 29,850,000 | ||||||||
Loss for the three months ended December 31, 2020 | (1,266,844) | ||||||||
Series D Preferred Stock issued for subscriptions payable, shares | 50,000 | ||||||||
Series D Preferred Stock issued for subscriptions payable, amount | 1,347,894 | $ 0 | 1,347,844 | 0 | $ 0 | $ 50 | 0 | ||
Common stock issued for services, amount | 738,750 | ||||||||
Balance, shares at Sep. 30, 2020 | 289,147,675 | 600,000 | 50,000 | ||||||
Balance, amount at Sep. 30, 2020 | 999,906 | $ 289,148 | 20,891,476 | (20,181,368) | $ 600 | $ 50 | 0 | ||
Common Stock issued for stock to be issued, shares | 17,280,000 | ||||||||
Common Stock issued for stock to be issued, amount | 432,000 | $ 17,280 | 414,720 | ||||||
Loss for the three months ended December 31, 2020 | (472,319) | (472,319) | |||||||
Common stock issued for services, shares | 13,500,000 | ||||||||
Common stock cancelled, amount | $ (28,048) | 28,048 | |||||||
Common stock issued for services, amount | 945,000 | $ 13,500 | 931,500 | ||||||
Balance, shares at Dec. 31, 2020 | 291,879,675 | 600,000 | 50,000 | ||||||
Balance, amount at Dec. 31, 2020 | 1,904,586 | $ 291,880 | 22,265,744 | (20,653,687) | $ 600 | $ 50 | |||
Balance, shares at Sep. 30, 2020 | 289,147,675 | 600,000 | 50,000 | ||||||
Balance, amount at Sep. 30, 2020 | 999,906 | $ 289,148 | 20,891,476 | (20,181,368) | $ 600 | $ 50 | 0 | ||
Loss for the three months ended December 31, 2020 | (1,026,464) | ||||||||
Common stock issued for services, amount | 945,000 | ||||||||
Balance, shares at Mar. 31, 2021 | 292,879,675 | 600,000 | 50,000 | ||||||
Balance, amount at Mar. 31, 2021 | 1,735,441 | $ 292,880 | 22,289,744 | (21,207,832) | $ 600 | $ 50 | $ 360,000 | ||
Balance, shares at Sep. 30, 2020 | 289,147,675 | 600,000 | 50,000 | ||||||
Balance, amount at Sep. 30, 2020 | $ 999,906 | $ 289,148 | 20,891,476 | (20,181,368) | $ 600 | $ 50 | 0 | ||
Common stock issued for services, shares | 16,750,000 | ||||||||
Loss for the three months ended December 31, 2020 | $ (2,593,537) | 0 | 0 | (2,593,537) | 0 | 0 | 0 | ||
Common stock issued for stock payable, amount | $ 17,280 | 414,720 | 0 | 0 | 0 | 0 | |||
Common stock issued for cash, shares | 1,000,000 | ||||||||
Common stock issued for services, amount | $ 1,300,375 | $ 16,750 | 1,283,625 | 0 | 0 | 0 | $ 0 | ||
Common stock issued for accounts payable, shares | 106,952 | ||||||||
Common stock issued for stock payable, shares | 17,280,000 | ||||||||
Series E Preferred Stock sold for cash, shares | 13,650,000 | ||||||||
Common stock issued for accounts payable, amount | $ 107 | 668,850 | 0 | $ 0 | $ 0 | $ 13,650 | |||
Common stock cancelled, shares | (28,048,000) | ||||||||
Balance, shares at Sep. 30, 2021 | 17,280,000 | 296,236,627 | 600,000 | 50,000 | 13,650,000 | ||||
Balance, amount at Sep. 30, 2021 | $ 866,244 | $ 296,237 | 23,330,612 | (22,774,905) | $ 0 | $ 600 | $ 50 | $ 13,650 | |
Balance, shares at Dec. 31, 2020 | 291,879,675 | 600,000 | 50,000 | ||||||
Balance, amount at Dec. 31, 2020 | 1,904,586 | $ 291,880 | 22,265,744 | (20,653,687) | $ 600 | $ 50 | |||
Loss for the three months ended December 31, 2020 | (554,145) | (554,145) | |||||||
Common stock issued for cash, shares | 1,000,000 | ||||||||
Common stock issued for cash, amount | 25,000 | $ 1,000 | 24,000 | ||||||
Capital stock to be issued for cash | 360,000 | 360,000 | |||||||
Balance, shares at Mar. 31, 2021 | 292,879,675 | 600,000 | 50,000 | ||||||
Balance, amount at Mar. 31, 2021 | $ 1,735,441 | $ 292,880 | 22,289,744 | (21,207,832) | $ 600 | $ 50 | $ 360,000 | ||
Balance, shares at Sep. 30, 2021 | 17,280,000 | 296,236,627 | 600,000 | 50,000 | 13,650,000 | ||||
Balance, amount at Sep. 30, 2021 | $ 866,244 | $ 296,237 | 23,330,612 | (22,774,905) | 0 | $ 600 | $ 50 | $ 13,650 | |
Common stock issued for services, shares | 6,250,000 | ||||||||
Common stock issued for services, amount | 859,100 | $ 6,250 | 852,850 | 0 | $ 0 | 0 | 0 | 0 | |
Common stock issued for accounts payable, shares | 909,091 | ||||||||
Series F Preferred Stock issued for cash, shares | 59,270,000 | ||||||||
Series F Preferred Stock issued for cash, amount | 2,963,500 | $ 0 | 2,904,230 | 0 | $ 59,270 | $ 0 | $ 0 | 0 | |
Common Stock issued for conversion of Series E Preferred Stock, amount | $ 13,650 | $ (59,270) | $ (13,650) | ||||||
Common Stock issued for conversion of Series E Preferred Stock, shares | 13,650,000 | (59,270,000) | (13,650,000) | ||||||
Common Stock issued for conversion of Series E Preferred Stock, amount | $ 59,270 | $ (59,270) | |||||||
Common Stock issued for conversion of Series E Preferred Stock, shares | 59,270,000 | (59,270,000) | |||||||
Balance, shares at Dec. 31, 2021 | 376,315,718 | 600,000 | 50,000 | ||||||
Balance, amount at Dec. 31, 2021 | $ 3,824,739 | $ 376,316 | 27,386,784 | (23,939,011) | $ 600 | $ 50 | |||
Balance, shares at Sep. 30, 2021 | 17,280,000 | 296,236,627 | 600,000 | 50,000 | 13,650,000 | ||||
Balance, amount at Sep. 30, 2021 | $ 866,244 | $ 296,237 | 23,330,612 | (22,774,905) | $ 0 | $ 600 | $ 50 | $ 13,650 | |
Common stock issued for services, shares | 6,750,000 | ||||||||
Loss for the three months ended December 31, 2020 | $ (2,690,116) | ||||||||
Common stock issued for services, amount | 588,592 | ||||||||
Balance, shares at Mar. 31, 2022 | 376,815,718 | 600,000 | 50,000 | ||||||
Balance, amount at Mar. 31, 2022 | 2,420,804 | $ 376,816 | 27,508,359 | (25,465,021) | $ 600 | $ 50 | |||
Balance, shares at Dec. 31, 2021 | 376,315,718 | 600,000 | 50,000 | ||||||
Balance, amount at Dec. 31, 2021 | 3,824,739 | $ 376,316 | 27,386,784 | (23,939,011) | $ 600 | $ 50 | |||
Loss for the three months ended December 31, 2020 | (1,526,010) | (1,526,010) | |||||||
Common stock issued for services, shares | 500,000 | ||||||||
Common stock issued for services, amount | 122,075 | $ 500 | 121,575 | ||||||
Balance, shares at Mar. 31, 2022 | 376,815,718 | 600,000 | 50,000 | ||||||
Balance, amount at Mar. 31, 2022 | $ 2,420,804 | $ 376,816 | $ 27,508,359 | $ (25,465,021) | $ 600 | $ 50 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net Loss | $ (2,690,116) | $ (1,026,464) | $ (2,593,537) | $ (1,266,844) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Common stock issued for technology | 0 | 500,000 | ||
Stock-based compensation expenses for services | 1,367,468 | 469,375 | 1,365,667 | 201,641 |
Depreciation expense | 23,808 | 17,910 | 40,866 | 6,472 |
Changes in Operating Assets and Liabilities: | ||||
Inventory | 78,765 | (29,790) | (44,566) | (33,582) |
Accounts Receivable | 27,694 | (20,040) | (27,694) | 8,000 |
Prepaid expenses | 5,537 | (9,748) | (9,410) | (22,334) |
Vendor deposits | (50,400) | 0 | (50,400) | 0 |
Accounts payable and accrued liabilitie | 6,348 | (32,232) | 18,846 | 322,215 |
Accounts payable-related party | 123,376 | 0 | 12,551 | 0 |
Dividend payable | 12,394 | 0 | 21,033 | 0 |
Deferred revenue | 1,872 | 0 | (3,588) | 0 |
Customer deposit | 0 | (50,480) | (50,480) | 50,480 |
Net cash used in operating activities | (996,199) | (681,469) | (1,313,536) | (233,952) |
Accounts payable-related party | (123,376) | 0 | (12,551) | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchase of property and equipment | 0 | (34,249) | (68,414) | (133,456) |
Net cash used in investing activities | 0 | (34,249) | (68,414) | (133,456) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from issuance of Series F Preferred Stock | 2,963,500 | 360,000 | ||
Proceeds from issuance of common stock | 0 | 25,000 | ||
Proceeds from stock subscriptions | (707,500) | (1,198,000) | ||
Net cash provided by financing activities | 2,963,500 | 385,000 | 707,500 | 1,198,000 |
NET CHANGE IN CASH | 1,967,301 | (330,718) | (674,450) | 830,592 |
CASH AT BEGINNING OF PERIOD | 173,196 | 847,646 | 847,646 | 17,054 |
CASH AT END OF PERIOD | 2,140,497 | 516,928 | 173,196 | 847,646 |
SUPPLEMENTAL CASH FLOW DISCLOSURES | ||||
Cash paid for interest | 0 | 0 | 0 | 0 |
Cash paid for income taxes | 0 | 0 | 0 | 0 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||
Common stock issued for services | 588,592 | 945,000 | 1,300,375 | 738,750 |
Common stock issued for accounts payable | $ 300,000 | $ 0 | $ 20,000 | $ 288,000 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ||
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Cytta Corp., (“Cytta” or the “Company”) was incorporated on May 30, 2006 under the laws of the State of Nevada. It is located in Las Vegas, Nevada. Cytta is in the business of imagineering, developing and securing disruptive technologies. | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Cytta Corp., (“Cytta” or the “Company”) was incorporated on May 30, 2006 under the laws of the State of Nevada. It is located in Las Vegas, Nevada. Cytta is in the business of imagineering, developing and securing disruptive technologies. |
GOING CONCERN
GOING CONCERN | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
GOING CONCERN | ||
NOTE 2 - GOING CONCERN | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2022, the Company had an accumulated deficit of $25,465,021 and has also generated losses since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. In December 2019, a novel strain of coronavirus (COVID-19) emerged. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but it may have a material adverse impact on our business, financial condition and results of operations. Management expects that its business will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time. The Company develops and distributes proprietary technology that radically shifts how video is streamed, consumed, transferred and stored. Our proprietary SUPR Stream is the technology at the core of our products, designed specifically for streaming and storing HD, 4K, and higher resolution video. The IGAN (Incident Global Area Network) Incident Command System (ICS) seamlessly streams and stores all relevant video and audio during emergency situations. This creates real-time situational awareness for police, firefighters, first responders, EMS, and their command centers. Our products work in size, weight, and power-constrained (SWaP) operating environments, and evolved through use in the military by meeting the need to stream multiple HD, 4K, and 4K+ video feeds with ultra-low latency, bandwidth, and power consumption. The Company is taking this streaming, storage, and transfer technology to enterprises that would like to send more high-quality videos with fewer resources. All of our products are manufactured in the USA. The Company intends to fund operations through equity financing arrangements, which may not be sufficient to fund its capital expenditures, working capital and other cash requirements for the foreseeable future. During the six months ended March 31, 2022, the Company sold 59,270,000 shares of Series F Preferred stock at $0.05 per share and received proceeds of $2,963,500. | NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of September 30, 2021, the Company had an accumulated deficit of $22,774,905 and has also generated losses since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. In December 2019, a novel strain of coronavirus (COVID-19) emerged. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but it may have a material adverse impact on our business, financial condition and results of operations. Management expects that its business will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time. The Company develops and distributes proprietary technology that radically shifts how video is streamed, consumed, transferred and stored. Our proprietary SUPR Stream is the technology at the core of our products, designed specifically for streaming and storing HD, 4K, and higher resolution video. The IGAN (Incident Global Area Network) Incident Command System (ICS) seamlessly streams and stores all relevant video and audio during emergency situations. This creates real-time situational awareness for police, firefighters, first responders, EMS, and their command centers. Our products work in size, weight, and power-constrained (SWaP) operating environments, and evolved through use in the military by meeting the need to stream multiple HD, 4K, and 4K+ video feeds with ultra-low latency, bandwidth, and power consumption. The Company is taking this streaming, storage, and transfer technology to enterprises that would like to send more high-quality videos with fewer resources. All of our products are manufactured in the USA. The Company intends to fund operations through equity financing arrangements, which may not be sufficient to fund its capital expenditures, working capital and other cash requirements for the foreseeable future. During the year ended September 30, 2021, the Company sold 13,650,000 shares of Series E Preferred Stock at $0.05 per share and received $682,500. Since September 30, 2021, the Company sold 59,270,000 shares of Series F Preferred stock at $0.05 per share and received proceeds of $2,963,750. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of March 31, 2022, and the results of operations and cash flows for the periods presented. The results of operations for the three and six months ended March 31, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future period. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at March 31, 2022, and September 30, 2021. Prepaid expenses The Company considers expenses or services paid for prior to the period the expense is completed to be recorded as a prepaid expense. Included in this account is the value of common stock issued to consultants. Such issuances are pursuant to consulting agreements that can have a one-to-two-year term. The Company amortized the value of the stock issued over the term of the agreement. The activity for the six months ended March 31, 2022 and 2021 is summarized as: March 31, 2022 2021 Balance beginning of period $ 772,394 $ 539,443 Value of common stock issued 894,841 945,000 Amortization of stock-based compensation (1,249,967 ) (469,375 ) Other prepaid expense activity (5,536 ) 29,750 $ 411,732 $ 1,044,818 Inventory Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include finished goods and component parts. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Inventory as of March 31, 2022, and September 30, 2021, was $- 0- and $78,765, respectively. Property and equipment Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets. The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows: Vehicles and equipment 5 years Software 3 years Fair value of financial instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities. ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable and accrued expenses, certain notes payable and notes payable - related party, approximate their fair values because of the short maturity of these instruments. Revenue recognition Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. Under ASC 606, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. Other than The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms. Stock-based compensation The Company accounts for its stock based compensation under the recognition and measurement principles of the fair value recognition provisions of Statement of Financial Accounting Standards No. 123 (revised 2004) “Share-Based Payment” (“SFAS No. 123R”)(ASC 718) using the modified prospective method for transactions in which the Company obtains employee services in share-based payment transactions and the Financial Accounting Standards Board Emerging Issues Task Force Issue No. 96-18 “Accounting For Equity Instruments That Are Issued To Other Than Employees For Acquiring, Or In Conjunction With Selling Goods Or Services” (“EITF No. 96-18”) for share-based payment transactions with parties other than employees provided in SFAS No. 123(R) (ASC 718). All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the third-party performance is complete or the date on which it is probable that performance will occur. Income taxes The Company accounts for income taxes under Statement of Financial Accounting Standards No. 109 “Accounting for Income Taxes” (“SFAS No. 109”) (ASC 740). Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. Cash flows reporting The Company follows the provisions of ASC 230 for cash flows reporting and accordingly classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230 to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. Reporting segments ASC 280 establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. Currently, ASC 280 has no effect on the Company’s financial statements as substantially all of the Company’s operations are conducted in one industry segment. Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Earnings (Loss) Per Share of Common Stock The Company has adopted ASC 260-10-20, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Recent Accounting Pronouncements Other than the above there have no recent accounting pronouncements or changes in accounting pronouncements during the period ended March 31, 2022, that are of significance or potential significance to the Company. | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“US GAAP”). Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at September 30, 2021, and 2020. Prepaid expenses The Company considers expenses or services paid for prior to the period the expense is completed to be recorded as a prepaid expense. Included in this account is the value of common stock issued to consultants. Such issuances are pursuant to consulting agreements that can have a one-to-two-year term. The Company amortized the value of the stock issued over the term of the agreement. The activity for the years ended September 30, 2021 and 2020 is summarized as: September 30, 2021 2020 Balance beginning of fiscal year $ 559,443 $ - Value of common stock issued 1,261,750 738,750 Amortization of stock-based compensation (1,058,209 ) (201,641 ) Vendor deposit (20,000 ) 20,000 Other prepaid expense activity 29,410 2,334 Balance end of fiscal year $ 772,394 $ 559,443 Inventory Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include finished goods and component parts. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Inventory as of September 30, 2021, and 2020 was $78,765 and $34,199. Property and equipment Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets. The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows: Vehicles and equipment 5 years Software 3 years Fair value of financial instruments The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities. ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets and accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. Revenue recognition Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. Under ASC 606, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. Other than The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms. Revenues are derived from the sale of hardware products embedded with our software and video streaming technology. We also offer a combination of technical and consulting services, proprietary software products, hardware products utilizing our software, to meet the needs of customers. Stock-based compensation The Company accounts for its stock based compensation under the recognition and measurement principles of the fair value recognition provisions of Statement of Financial Accounting Standards No. 123 (revised 2004) “Share-Based Payment” (“SFAS No. 123R”)(ASC 718) using the modified prospective method for transactions in which the Company obtains employee services in share-based payment transactions and the Financial Accounting Standards Board Emerging Issues Task Force Issue No. 96-18 “Accounting For Equity Instruments That Are Issued To Other Than Employees For Acquiring, Or In Conjunction With Selling Goods Or Services” (“EITF No. 96-18”) for share-based payment transactions with parties other than employees provided in SFAS No. 123(R) (ASC 718). All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the third-party performance is complete or the date on which it is probable that performance will occur. Income taxes The Company accounts for income taxes under Statement of Financial Accounting Standards No. 109 “Accounting for Income Taxes” (“SFAS No. 109”) (ASC 740). Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. Cash flows reporting The Company follows the provisions of ASC 230 for cash flows reporting and accordingly classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230 to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. Reporting segments ASC 280 establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. Currently, ASC 280 has no effect on the Company’s financial statements as substantially all of the Company’s operations are conducted in one industry segment. Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Earnings (Loss) Per Share of Common Stock The Company has adopted ASC 260-10-20, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Recent Accounting Pronouncements There have no recent accounting pronouncements or changes in accounting pronouncements during the year ended September 30, 2021, that are of significance or potential significance to the Company. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
PROPERTY AND EQUIPMENT | ||
NOTE 4 - PROPERTY AND EQUIPMENT | NOTE 4 - PROPERTY AND EQUIPMENT The following table represents the Company’s property and equipment as of March 31, 2022, and September 30, 2021: March 31, 2022 September 30, 2021 Property and equipment $ 230,900 $ 230,900 Accumulated depreciation (84,102 ) (60,295 ) Property and equipment, Net $ 146,798 $ 170,605 Depreciation expense was $23,807 and $17,910 for the six months ended March 31, 2022, respectively. | NOTE 4 - PROPERTY AND EQUIPMENT The following table represents the Company’s property and equipment as of September 30, 2021, and 2020: September 30, 2021 September 30, 2020 Property and equipment $ 230,900 $ 162,487 Accumulated depreciation (60,295 ) (19,429 ) Property and equipment, Net $ 170,605 $ 143,058 Depreciation expense was $40,866 and $6,472 for the years ended September 30, 2021, and 2020, respectively. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
RELATED PARTY TRANSACTIONS | ||
NOTE 5 - RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS Related Party agreements and fees For the three and six months ended March 31, 2022, and 2021, the Company recorded expenses to related parties in the following amounts: Three months ended March 31, Six months ended March 31, Description 2022 2021 2022 2021 CEO-Management fees $ 58,000 $ 36,000 $ 203,000 $ 72,000 Chief Technology Officer (CTO) 58,000 36,000 203,000 72,000 Chief Administration Officer (CAO) 45,000 30,000 165,000 60,000 Stock-based compensation expense, officers 39,063 39,063 78,126 78,126 Office rent and expenses 12,801 12,501 29,020 20,835 Total $ 212,864 $ 153,564 $ 678,146 $ 302,961 Effective June 1, 2021, the Company increased the monthly fee paid to its’ CEO and CTO, from $12,000 to $15,000, respectively. On January 1, 2022, the Company increased the monthly fee to $18,000 for the CEO and CTO, respectively, and on February 1, 2022, the monthly fee for the CEO and CTO was increased to $20,000. For the three and six months ended March 31, 2022, and the company recorded expenses of $58,000 and $103,000, respectively, each for the CEO and CTO. Of the CEO expenses, $30,000 is included in accounts payable, related parties on the balance sheet included herein. For the six months ended March 31, 2022, the Company also recorded bonus expenses of $100,000, $100,000 and $90,000 for the CEO, CTO and CAO, respectively. The CEO’s bonus is included in accounts payable, related party on the balance sheet included herein. For the three and six months ended March 31, 2021, the Company expensed $36,000 and $72,000, respectively to the CEO and CTO, and $30,000 and $60,000 to its CAO, respectively. Amortization of stock-based compensation expense of $39,063 and $78,126 was recorded for the three and six months ended March 31, 2022, and 2021, respectively. On October 25, 2020, the Company entered into a sublease with its CTO, whereby the Company agreed to an annual lease payment of $50,000. For the six months ended March 31, 2022, the Company expensed $4,163 and for the three and six months ended March 31, 2021, $12,501 and $20,835, respectively, to rent expense pursuant to this sublease. On June 1, 2021, agreed to pay an additional $3,500 per month to the CTO for additional space, and for the three and six months ended March 31, 2022, $10,500 and $21,000, respectively is included in rent expense. Accounts payable, related parties As of March 31, 2022, and September 30, 2021, the Company owes $135,927 and $12,551, respectively to related parties as follows: March 31, 2022 September 30, 2021 Management fees, Chief Executive Officer (CEO) $ 30,000 $ - Bonus, CEO 100,000 - Accounts payable, CTO 5,927 12,551 Total $ 135,927 $ 12,551 | NOTE 5 - RELATED PARTY TRANSACTIONS Related Party agreements and fees For the years ended September 30, 2021, and 2020, the Company recorded expenses to related parties in the following amounts: Years ended 2021 2020 Management fees, Chief Executive Officer (CEO) $ 156,000 $ 205,750 Chief Technology Officer (CTO) (1) 156,000 558,010 Chief Administration Officer (CAO) (2) 276,252 20,000 Public relations - 60,000 Office rent and expenses 60,579 28,000 Total $ 648,831 $ 871,860 ____________ (1) On August 15, 2020, the Company issued 20,000,000 shares of common stock to the CTO. The shares were valued at $0.025 per share, based upon the price the Company sold shares in the recently completed private placement (see Note 6), The Company recorded technology acquisition expense of $500,000 for the year ended September 30, 2020, for this issuance. (2) On April 1, 2020, the Company entered into an agreement with Makena Investment Advisors, LLC (“Makena”). Makena is controlled by Mr. Chermak, the Company’s CAO. Pursuant to the agreement, the Company issued Makena 12,500,000 shares of common stock and agreed to compensate Makena $10,000 per month beginning in August 2020. For the years ended September 30, 2021, and 2020, the Company incurred $120,000 and $20,000, respectively, for the cash compensation. The shares were valued at $312,500 based on the market price of the common stock on the date of the agreement and are being expensed over the two- year term of the agreement. Accordingly, $156,250 of stock-based compensation expense is included in the above table for the CAO. On August 1, 2020, the Company agreed to compensate the CTO $12,000 per month respectively. Beginning October 1, 2020, the Company agreed to compensate the CEO $12,000 per month. Effective June 1, 2021, the Company increased the monthly fee paid to its’ CEO and CTO, from $12,000 to $15,000 respectively. For the year ended September 30, 2021, the CEO and CTO each received $156,000 in management fees. For the year ended September 30, 2020, the Company recorded management fees to the CEO and CTO of $205,750 and $58,010, respectively. During the fiscal year ended September 30, 2020, expenses for public relations and office rent and expenses were all accrued (non-cash). The amounts owed were recorded as expenses with the offset to stock to be issued, which is included in the liabilities section on the accompanying balance sheet. In May 2020, the agreements with the CEO, the public relations company and the office rent expense ceased and the Company was no longer accruing such expenses. As of September 30, 2020, included in capital stock to be issued was $432,000 due to related parties. On November 12, 2020, the Company issued 17,280,000 shares of restricted common stock for payment of the $432,000 in capital stock to be issued. On October 25, 2020, the Company entered into a sublease with its CTO, whereby the Company agreed to annual lease payment of $50,000. For the year ended September 30, 2021, the Company expensed $45,837 to rent expense pursuant to this sublease, and on June 1, 2021, agreed to pay an additional $3,500 per month to the CTO for additional space. Accounts payable, related parties As of September 30, 2021, the Company owes $12,551 to the CTO for expenses incurred in September 2021. The amount is included in accounts payable related parties and the CTO was reimbursed for the expenses in October 2021. Common Stock On November 12, 2020, the Company issued 17,280,000 shares of restricted common stock for payment of the $432,000 in capital stock to be issued. Series D Preferred Stock On September 30, 2020, the Company issued 50,000 shares of Series D Preferred Stock (see Note 6) to a Company controlled by the Company’s CEO, in satisfaction of $1,347,894 of capital stock to be issued. The holder(s) of the Series D Preferred Stock have voting control of the Company. |
STOCKHOLDERS EQUITY
STOCKHOLDERS EQUITY | 12 Months Ended |
Sep. 30, 2021 | |
STOCKHOLDERS EQUITY | |
NOTE 6 - STOCKHOLDERS' EQUITY | NOTE 6 - STOCKHOLDERS’ EQUITY Common Stock The Company has authorized 500,000,000 common shares, par value $0.001. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. As of September 30, 2021, and 2020, there were 296,236,627 and 289,147,675, respectively, common shares issued and outstanding. During the year ended September 30., 2021 the Company issued: 17,280,000 shares of common stock issued for common stock to be issued. 1,000,000 shares of common stock were issued pursuant to a subscription agreement in exchange for $25,000. The shares were sold at $0.025 per share. 16,750,000 shares of common stock issued for services. The Company valued these shares at the market price on the date of the agreement with each service provider and will amortize such value over the life of the respective agreements. The total value of the issuances was $1,300,375, and the Company recognized $787,771 of stock- based compensation expense for these shares for the year ended September 30, 2021. 106,952 shares of common stock issued for payment of accounts payable. The Company also cancelled 28,040,000 shares of common stock pursuant to a court order, that deemed a prior year reverse merger transaction to be null and void by the court due to misrepresentations. During the year ended September 30, 2020, the Company issued: 9,150,000 shares of common stock issued for stock to be issued for subscription agreements issued prior to October 1, 2019. 4,000,000 shares of common stock in January 2020, to consultants for services performed. The shares were valued at $0.02 per share, based upon the market price of the common stock on the date the Company committed to issue the shares. The Company recognized $80,000 of stock-based compensation expense for the year ended September 30, 2020, for these shares. 2,500,000 shares of common stock in May 2020, to consultants for services pursuant to the terms of each consultant’s agreement. The shares were valued at $0.03 per share, based upon the market price of the common stock on the date the Company committed to issue the shares, and will be amortized over the respective terms. The Company recognized $38,750 and $18,750 of stock-based compensation expense for the years ended September 30, 2021, and 2020, respectively, for these shares. From June 5, 2020 through July 31, 2020, the Company, pursuant to a private placement memorandum, sold 44,600,000 shares of common stock in exchange for cash of $1,198,000. 23,350,000 shares of common issued in August 2020, to consultants for services pursuant to the terms of each consultant’s agreement. The shares were valued at $0.025 per share, based upon the price the Company sold shares in the recently completed private placement, as stated above, and will be amortized over the term of the consultant’s agreements. For the year ended September 30, 2021, and 2020, the Company recognized $270,313 and $102,891, respectively, of stock-based compensation expense. 20,000,000 shares of common stock issued to the Company’s CTO on August 15, 2020, for the use of technology. The shares were valued at $0.025 per share, based upon the price the Company sold shares in the recently completed private placement, as stated above, The Company recorded technology acquisition expense of $500,000 for the year ended September 30, 2020, for this issuance. Preferred Stock The Company has 100,000,000 shares authorized as preferred stock, par value $0.001 (the “Preferred Stock”), which such Preferred Stock shall be issuable in such series, and with such designations, rights and preferences as the Board of Directors may determine from time to time. Series D Preferred Stock On September 30, 2020, the Company filed an Amended and Restated Certificate of Designation with the State of Nevada of the Company’s Series D Preferred Stock. Under the terms of the Amendment to Certificate of Designation of Series D Preferred Stock, 50,000 shares of the Company’s preferred shares are designated as Series D Preferred Stock. Each share of Series D Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock. For so long as any shares of the Series D Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote on all shareholder matters equal to two times the sum of all the number of shares of other classes of Corporation capital stock eligible to vote on all matters submitted to a vote of the stockholders of the Corporation. On September 30, 2020, the Company issued 50,000 shares of Series D Preferred Stock to a Company controlled by the Company’s CEO, in satisfaction of $1,347,894 of capital stock to be issued. As of September 30, 2021, there were 50,000 shares of Series D Preferred Stock issued and outstanding. Series E Preferred Stock On June 2, 2021, the Company filed a Certificate of Designation with the State of Nevada. Under the terms of the Certificate of Designation 13,650,000 (as amended on June 10, 2021) were designated as Series E Preferred Stock. Each share of Series E Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock at any time by the holder. For so long as any shares of the Series E Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote one share on all matters submitted to a vote of the stockholders of the Corporation. During the year ended September 30, 2021, the Company sold 13,650,000 shares of Series E Preferred Stock at $0.05 per share and received $682,500. As of September 30, 2021, there were 13,650,000 shares of Series E Preferred Stock issued and outstanding. The Series E Preferred Stock automatically converts to common stock after the shares of common stock closing market price is at least $0.20 for twenty (20) consecutive trading days. |
CAPITAL STOCK
CAPITAL STOCK | 6 Months Ended |
Mar. 31, 2022 | |
STOCKHOLDERS EQUITY | |
NOTE 6 - CAPITAL STOCK | NOTE 6 - CAPITAL STOCK Common Stock The Company has authorized 500,000,000 common shares, par value $0.001. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. As of March 31, 2022, and September 30, 2021, there were 376,815,718 and 296,236,627, respectively, common shares issued and outstanding. During the six months ended March 31, 2022, the following shares of common stock were issued: · 13,650,000 shares of common stock issued for the conversion of 13,650,000 shares of Series E Preferred Stock. · 59,270,000 shares of common stock were issued for the conversion of 59,270,000 shares of Series F Preferred Stock. · 6,750,000 shares of common issued for services. The Company valued the shares at $981,175, based on the price of the common stock on the date the Company agreed to issue the shares. · 909,091 shares issued for payment of accounts payable. The amount of shares issued were based upon the share price of the Company’s common stock on the date the Company agreed to issue the common stock. Preferred Stock The Company has 100,000,000 shares authorized as preferred stock, par value $0.001 (the “Preferred Stock”), which such Preferred Stock shall be issuable in such series, and with such designations, rights and preferences as the Board of Directors may determine from time to time. Series D Preferred Stock On September 30, 2020, the Company filed an Amended and Restated Certificate of Designation with the State of Nevada of the Company’s Series D Preferred Stock. Under the terms of the Amendment to Certificate of Designation of Series D Preferred Stock, 50,000 shares of the Company’s preferred shares are designated as Series D Preferred Stock. Each share of Series D Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock. For so long as any shares of the Series D Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote on all shareholder matters equal to two times the sum of all the number of shares of other classes of Corporation capital stock eligible to vote on all matters submitted to a vote of the stockholders of the Corporation. On September 30, 2020, the Company issued 50,000 shares of Series D Preferred Stock to a Company controlled by the Company’s CEO, in satisfaction of $1,347,894 of capital stock to be issued. As of March 31, 2022, and September 30, 2021, there were 50,000 shares of Series D Preferred Stock issued and outstanding. Series E Preferred Stock On June 2, 2021, the Company filed a Certificate of Designation with the State of Nevada. Under the terms of the Certificate of Designation 13,650,000 (as amended on June 10, 2021) were designated as Series E Preferred Stock. Each share of Series E Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock. For so long as any shares of the Series E Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote one share on all matters submitted to a vote of the stockholders of the Corporation. As of September 30, 2021, there were 13,650,000 shares of Series E Preferred Stock issued and outstanding. During the six months ended March 31, 2022, the Company converted the 13,650,000 shares of Series E Preferred Stock to 13,650,000 shares of common stock. As of March 31, 2022, there were no shares of Series E Preferred stock issued and outstanding. Series F Preferred Stock On November 24, 2021, the Company filed a Certificate of Designation with the State of Nevada. Under the terms of the Certificate of Designation 59,270,000 were designated as Series F Preferred Stock. Each share of Series F Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock at any time by the holder. For so long as any shares of the Series F Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote one share on all matters submitted to a vote of the stockholders of the Corporation. The Series F Preferred Stock automatically converts to common stock after the shares of common stock closing market price is at least $0.20 for twenty (20) consecutive trading days. During the six months ended March 31, 2022, the Company sold 59,270,000 shares of Series F Preferred Stock at $0.05 per share and received proceeds of $2,963,750. During the six months ended March 31, 2022, the Company converted the 59,270,000 shares of Series F Preferred Stock to 59,270,000 shares of common stock. As of March 31, 2022, there were no shares of Series F Preferred Stock issued and outstanding. Capital stock to be issued As of September 30, 2021, the Company had $323,583 of capital stock to be issued. During the six months ended March 31, 2022, 4,000,000 shares of common stock was issued, which reduced the capital stock to be issued by $268,833. As of March 31, 2022, the Company has $54,750 of capital stock to be issued, which is included in the liability section of the unaudited condensed balance sheet presented herein. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
COMMITMENTS AND CONTINGENCIES | ||
NOTE 7 - COMMITMENTS AND CONTINGENCIES | NOTE 7 - COMMITMENTS AND CONTINGENCIES On November 24, 2020, a plaintiff (the “Plaintiff”) filed a complaint in the State District Court for Clark County, Nevada, naming Cytta as a Defendant. The Plaintiff contends that the Company had breached an agreement. On or about January 15, 2021, the Defendant filed an Answer and Counterclaim in the litigation and contended that in fact the Plaintiff owed money to Cytta for having breached an earlier services agreement, of limited scope and duration, and was liable for defaming Cytta in various communications he had sent to certain persons or entities. Management has been contesting the matter vigorously. A bench trial is currently expected to take place during the first half of 2022. | NOTE 7 - COMMITMENTS AND CONTINGENCIES On October 22, 2020, the Company entered into the First Amendment to a Placement Agent Agreement with Boustead Securities, LLC (“Boustead”). Pursuant to the terms of the amendment, the Company agreed to compensate Boustead $10,000 and to issue Boustead 13,500,000 shares of common stock. The amendment also states that no additional compensation would be paid to Boustead on the first $1,150,000 of financing proceeds received by the Company on or after March 20, 2020. The agreement terminates on March 2, 2022. On November 24, 2020, a plaintiff (the “Plaintiff”) filed a complaint in the State District Court for Clark County, Nevada, naming Cytta as a Defendant. The Plaintiff contends that the Company had breached an agreement. On or about January 15, 2021, the Defendant filed an Answer and Counterclaim in the litigation and also contended that in fact the Plaintiff owed money to Cytta having breached an earlier services agreement, of limited scope and duration, and other obligations owed to Cytta, and was liable for defaming Cytta in various communications he had sent to certain persons or entities prior to his demand being asserted. Management intends to contest the matter vigorously. |
DEFERRED REVENUE
DEFERRED REVENUE | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
DEFERRED REVENUE | ||
NOTE 9 - DEFERRED REVENUE | NOTE 9 - DEFERRED REVENUE During the year ended September 30, 2021, the Company received $3,744 form a customer for a payment of a one- year subscription agreement. The subscription period is from August 2021 through July 2022, and accordingly the Company will recognize the revenue over such period. For the three and six months ended March 31, 2022, the Company recognized $936 and $1,873 of revenue. The remaining deferred revenue of $1,716 is recognized as deferred revenue on the condensed balance sheet included herein. | NOTE 8 - DEFERRED REVENUE During the year ended September 30, 2021, the Company received $3,744 form a customer for a payment of a one- year subscription agreement. The subscription period is from August 2021 through July 2022, and accordingly the Company will recognize the revenue over such period. For the year ended September 30, 2021, the Company recognized $156 of revenue. The remaining deferred revenue of $3,588 is recognized as deferred revenue on the financial statements. |
INCOME TAXES
INCOME TAXES | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
INCOME TAXES | ||
NOTE 8 - INCOME TAXES | NOTE 8 - INCOME TAXES The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In assessing the need for a valuation allowance, management must determine that there will be sufficient taxable income to allow for the realization of deferred tax assets. Based upon the historical and anticipated future income, management has determined that the deferred tax assets meet the more-likely-than-not threshold for realizability. Accordingly, no valuation allowance has been recorded against the Company’s deferred tax assets as of June 30, 2021. | NOTE 9 - INCOME TAXES A reconciliation of the provision for income taxes determined at the U.S. statutory rate to the Company’s effective income tax rate is as follows: Year Ended September 30, 2021 2020 Pre-tax loss $ (2,593,537 ) $ (1,266,844 ) U.S. federal corporate income tax rate 21 % 21 % Expected U.S. income tax credit (544,643 ) (266,038 ) Permanent differences 286,790 147,345 Change of valuation allowance 257,853 118,693 Effective tax expense $ - $ - The Company had deferred tax assets as follows: September 30, September 30, 2020 Net operating losses carried forward $ 1,025,441 $ 767,588 Less: Valuation allowance (1,025,441 ) (767,588 ) Net deferred tax assets $ - $ - In assessing the need for a valuation allowance, management must determine that there will be sufficient taxable income to allow for the realization of deferred tax assets. Based upon the historical and anticipated future income, management has determined that the deferred tax assets meet the more-likely-than-not threshold for realizability. Accordingly, a full valuation allowance has been recorded against the Company’s deferred tax assets as of September 30, 2021. As of September 30, 2021, the Company has approximately $4,883,000 net operating loss carryforwards available to reduce future taxable income. As of September 30, 2021, and 2020, the Company has no material unrecognized tax benefits which would favorably affect the effective income tax rate in future periods, and does not believe that there will be any significant increases or decreases of unrecognized tax benefits within the next twelve months. No interest or penalties relating to income tax matters have been imposed on the Company during the years ended September 30, 2021, and 2020, and no provision for interest and penalties is deemed necessary as of September 30, 2021, and 2020. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
SUBSEQUENT EVENTS | ||
NOTE 10 - SUBSEQUENT EVENTS | NOTE 10 - SUBSEQUENT EVENTS On April 11, 2022, the Company issued 250,000 shares of restricted common stock to a consultant. The Company has evaluated subsequent events through the date the financial statements were issued. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements. | NOTE 10 - SUBSEQUENT EVENTS On November 24, 2021, the Company filed a Certificate of Designation with the State of Nevada. Under the terms of the Certificate of Designation 59,270,000 were designated as Series F Preferred Stock. Each share of Series F Preferred Stock is convertible into one share of fully paid and non-assessable Common Stock at any time by the holder. For so long as any shares of the Series F Preferred Stock remain issued and outstanding, the Holders thereof, voting separately as a class, shall have the right to vote one share on all matters submitted to a vote of the stockholders of the Corporation. The Series F Preferred Stock automatically converts to common stock after the shares of common stock closing market price is at least $0.20 for twenty (20) consecutive trading days. The Company has raised $2,963,750 from the sale of 59,270,000 shares of Series F Preferred Stock. The Company has evaluated subsequent events through December 26, 2021, the date the financial statements were issued. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Basis of Presentation | The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of March 31, 2022, and the results of operations and cash flows for the periods presented. The results of operations for the three and six months ended March 31, 2022, are not necessarily indicative of the operating results for the full fiscal year or any future period. | The accompanying financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“US GAAP”). |
Use of Estimates | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. |
Cash and Cash Equivalent | The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at March 31, 2022, and September 30, 2021. | The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at September 30, 2021, and 2020. |
Prepaid expenses policy | The Company considers expenses or services paid for prior to the period the expense is completed to be recorded as a prepaid expense. Included in this account is the value of common stock issued to consultants. Such issuances are pursuant to consulting agreements that can have a one-to-two-year term. The Company amortized the value of the stock issued over the term of the agreement. The activity for the six months ended March 31, 2022 and 2021 is summarized as: March 31, 2022 2021 Balance beginning of period $ 772,394 $ 539,443 Value of common stock issued 894,841 945,000 Amortization of stock-based compensation (1,249,967 ) (469,375 ) Other prepaid expense activity (5,536 ) 29,750 $ 411,732 $ 1,044,818 | The Company considers expenses or services paid for prior to the period the expense is completed to be recorded as a prepaid expense. Included in this account is the value of common stock issued to consultants. Such issuances are pursuant to consulting agreements that can have a one-to-two-year term. The Company amortized the value of the stock issued over the term of the agreement. The activity for the years ended September 30, 2021 and 2020 is summarized as: September 30, 2021 2020 Balance beginning of fiscal year $ 559,443 $ - Value of common stock issued 1,261,750 738,750 Amortization of stock-based compensation (1,058,209 ) (201,641 ) Vendor deposit (20,000 ) 20,000 Other prepaid expense activity 29,410 2,334 Balance end of fiscal year $ 772,394 $ 559,443 |
Inventory | Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include finished goods and component parts. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Inventory as of March 31, 2022, and September 30, 2021, was $- 0- and $78,765, respectively. | Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs include finished goods and component parts. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Inventory as of September 30, 2021, and 2020 was $78,765 and $34,199. |
Property and equipment | Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets. The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows: Vehicles and equipment 5 years Software 3 years | Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets. The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows: Vehicles and equipment 5 years Software 3 years |
Fair value of financial instruments | The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities. ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable and accrued expenses, certain notes payable and notes payable - related party, approximate their fair values because of the short maturity of these instruments. | The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities. ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets and accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. |
Revenue recognition | Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. Under ASC 606, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. Other than The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms. | Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. Under ASC 606, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. Other than The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms. Revenues are derived from the sale of hardware products embedded with our software and video streaming technology. We also offer a combination of technical and consulting services, proprietary software products, hardware products utilizing our software, to meet the needs of customers. |
Stock-based compensation | The Company accounts for its stock based compensation under the recognition and measurement principles of the fair value recognition provisions of Statement of Financial Accounting Standards No. 123 (revised 2004) “Share-Based Payment” (“SFAS No. 123R”)(ASC 718) using the modified prospective method for transactions in which the Company obtains employee services in share-based payment transactions and the Financial Accounting Standards Board Emerging Issues Task Force Issue No. 96-18 “Accounting For Equity Instruments That Are Issued To Other Than Employees For Acquiring, Or In Conjunction With Selling Goods Or Services” (“EITF No. 96-18”) for share-based payment transactions with parties other than employees provided in SFAS No. 123(R) (ASC 718). All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the third-party performance is complete or the date on which it is probable that performance will occur. | The Company accounts for its stock based compensation under the recognition and measurement principles of the fair value recognition provisions of Statement of Financial Accounting Standards No. 123 (revised 2004) “Share-Based Payment” (“SFAS No. 123R”)(ASC 718) using the modified prospective method for transactions in which the Company obtains employee services in share-based payment transactions and the Financial Accounting Standards Board Emerging Issues Task Force Issue No. 96-18 “Accounting For Equity Instruments That Are Issued To Other Than Employees For Acquiring, Or In Conjunction With Selling Goods Or Services” (“EITF No. 96-18”) for share-based payment transactions with parties other than employees provided in SFAS No. 123(R) (ASC 718). All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the third-party performance is complete or the date on which it is probable that performance will occur. |
Income taxes | The Company accounts for income taxes under Statement of Financial Accounting Standards No. 109 “Accounting for Income Taxes” (“SFAS No. 109”) (ASC 740). Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. | The Company accounts for income taxes under Statement of Financial Accounting Standards No. 109 “Accounting for Income Taxes” (“SFAS No. 109”) (ASC 740). Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date. |
Cash flows reporting | The Company follows the provisions of ASC 230 for cash flows reporting and accordingly classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230 to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. | The Company follows the provisions of ASC 230 for cash flows reporting and accordingly classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230 to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. |
Reporting segments | ASC 280 establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. Currently, ASC 280 has no effect on the Company’s financial statements as substantially all of the Company’s operations are conducted in one industry segment. | ASC 280 establishes standards for the way that public enterprises report information about operating segments in annual financial statements and requires reporting of selected information about operating segments in interim financial statements regarding products and services, geographic areas and major customers. ASC 280 defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performances. Currently, ASC 280 has no effect on the Company’s financial statements as substantially all of the Company’s operations are conducted in one industry segment. |
Concentrations of Credit Risk | The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. | The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. |
Earnings (Loss) Per Share of Common Stock | The Company has adopted ASC 260-10-20, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. | The Company has adopted ASC 260-10-20, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. |
Recent Accounting Pronouncements | Other than the above there have no recent accounting pronouncements or changes in accounting pronouncements during the period ended March 31, 2022, that are of significance or potential significance to the Company. | There have no recent accounting pronouncements or changes in accounting pronouncements during the year ended September 30, 2021, that are of significance or potential significance to the Company. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Schedule of amortized the value of the stock issued | March 31, 2022 2021 Balance beginning of period $ 772,394 $ 539,443 Value of common stock issued 894,841 945,000 Amortization of stock-based compensation (1,249,967 ) (469,375 ) Other prepaid expense activity (5,536 ) 29,750 $ 411,732 $ 1,044,818 | September 30, 2021 2020 Balance beginning of fiscal year $ 559,443 $ - Value of common stock issued 1,261,750 738,750 Amortization of stock-based compensation (1,058,209 ) (201,641 ) Vendor deposit (20,000 ) 20,000 Other prepaid expense activity 29,410 2,334 Balance end of fiscal year $ 772,394 $ 559,443 |
Schedule of property and equipment for potential impairment | Vehicles and equipment 5 years Software 3 years | Vehicles and equipment 5 years Software 3 years |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
PROPERTY AND EQUIPMENT | ||
Schedule of property and equipment | March 31, 2022 September 30, 2021 Property and equipment $ 230,900 $ 230,900 Accumulated depreciation (84,102 ) (60,295 ) Property and equipment, Net $ 146,798 $ 170,605 | September 30, 2021 September 30, 2020 Property and equipment $ 230,900 $ 162,487 Accumulated depreciation (60,295 ) (19,429 ) Property and equipment, Net $ 170,605 $ 143,058 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
RELATED PARTY TRANSACTIONS | ||
Schedule of recorded expenses to related parties | Three months ended March 31, Six months ended March 31, Description 2022 2021 2022 2021 CEO-Management fees $ 58,000 $ 36,000 $ 203,000 $ 72,000 Chief Technology Officer (CTO) 58,000 36,000 203,000 72,000 Chief Administration Officer (CAO) 45,000 30,000 165,000 60,000 Stock-based compensation expense, officers 39,063 39,063 78,126 78,126 Office rent and expenses 12,801 12,501 29,020 20,835 Total $ 212,864 $ 153,564 $ 678,146 $ 302,961 | Years ended 2021 2020 Management fees, Chief Executive Officer (CEO) $ 156,000 $ 205,750 Chief Technology Officer (CTO) (1) 156,000 558,010 Chief Administration Officer (CAO) (2) 276,252 20,000 Public relations - 60,000 Office rent and expenses 60,579 28,000 Total $ 648,831 $ 871,860 |
Schedule of recorded Accounts payable, related parties | March 31, 2022 September 30, 2021 Management fees, Chief Executive Officer (CEO) $ 30,000 $ - Bonus, CEO 100,000 - Accounts payable, CTO 5,927 12,551 Total $ 135,927 $ 12,551 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
INCOME TAXES | |
Schedule of provision for income taces | Year Ended September 30, 2021 2020 Pre-tax loss $ (2,593,537 ) $ (1,266,844 ) U.S. federal corporate income tax rate 21 % 21 % Expected U.S. income tax credit (544,643 ) (266,038 ) Permanent differences 286,790 147,345 Change of valuation allowance 257,853 118,693 Effective tax expense $ - $ - |
Schedule of deferred tax assets | September 30, September 30, 2020 Net operating losses carried forward $ 1,025,441 $ 767,588 Less: Valuation allowance (1,025,441 ) (767,588 ) Net deferred tax assets $ - $ - |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 02, 2021 | Sep. 30, 2020 |
Accumulated Deficit | $ (25,465,021) | $ (22,774,905) | $ (20,181,368) | |
Series E Preferred Stock [Member] | ||||
Preferred stock shares sold | 13,650,000 | 13,650,000 | ||
Preferred stock shares, value | $ 0.05 | |||
Preferred stock shares received | $ 682,500 | |||
Series F Preferred Stock [Member] | ||||
Preferred stock shares sold | 59,270,000 | |||
Preferred stock shares, value | $ 0.05 | |||
Preferred stock shares received | $ 2,963,750 | |||
Series F Preferred Shares [Member] | ||||
Preferred stock shares sold | 59,270,000 | |||
Preferred stock shares, value | $ 0.05 | |||
Preferred stock shares received | $ 2,963,500 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||
Prepaid expenses beginning balance | $ 772,394 | $ 559,443 | $ 539,443 | $ 0 |
Value of common stock issued | 894,841 | 1,261,750 | 945,000 | 738,750 |
Amortization of stock-based compensation | (1,249,967) | (1,058,209) | (469,375) | (201,641) |
Vendors deposit | (20,000) | 20,000 | ||
Other prepaid expense activity | (5,536) | 29,410 | 29,750 | 2,334 |
Prepaid expenses ending balance | $ 411,732 | $ 772,394 | $ 1,044,818 | $ 559,443 |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2021 | |
Vehicles and equipment [Member] | ||
Property Plant And Equipment Usefu Life | 5 years | 5 years |
Software [Member] | ||
Property Plant And Equipment Usefu Life | 3 years | 3 years |
SUMMARY OF SIGNIFICANT ACCOUN_6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Inventory | $ 0 | $ 78,765 | $ 34,199 |
Vehicles and equipment [Member] | |||
Property Plant And Equipment Usefu Life | 5 years | 5 years | |
Software [Member] | |||
Property Plant And Equipment Usefu Life | 3 years | 3 years |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
PROPERTY AND EQUIPMENT | |||
Property and equipments | $ 230,900 | $ 230,900 | $ 162,487 |
Accumulated depreciation | (84,102) | (60,295) | (19,429) |
Property and equipment, Net | $ 146,798 | $ 170,605 | $ 143,058 |
PROPERTY AND EQUIPMENT (Detai_2
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
PROPERTY AND EQUIPMENT | ||||
Depreciation expenses | $ 23,807 | $ 17,910 | $ 40,866 | $ 6,472 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Related party | $ 212,864 | $ 153,564 | $ 678,146 | $ 302,961 | $ 648,831 | $ 871,860 |
Management fees, Chief Executive Officer [Member] | ||||||
Related party | 58,000 | 36,000 | 203,000 | 72,000 | 156,000 | 205,750 |
Chief Technology Officer [Member] | ||||||
Related party | 58,000 | 36,000 | 203,000 | 72,000 | 156,000 | 558,010 |
Chief Administration Officer [Member] | ||||||
Related party | 45,000 | 30,000 | 165,000 | 60,000 | 276,252 | 20,000 |
Public relations [Member] | ||||||
Related party | 0 | 60,000 | ||||
Office rent and expenses [Member] | ||||||
Related party | 12,801 | 12,501 | 29,020 | 20,835 | $ 60,579 | $ 28,000 |
stock Based Compensation [Member] | ||||||
Related party | $ 39,063 | $ 39,063 | $ 78,126 | $ 78,126 |
RELATED PARTY TRANSACTIONS (D_2
RELATED PARTY TRANSACTIONS (Details 1) - USD ($) | Mar. 31, 2022 | Sep. 30, 2021 | Oct. 25, 2020 | Sep. 30, 2020 |
Accounts payable related parties | $ 135,927 | $ 12,551 | $ 50,000 | $ 0 |
Bonus CEO [Member] | ||||
Accounts payable related parties | 100,000 | 0 | ||
Accounts Payable CTO [Member] | ||||
Accounts payable related parties | 5,927 | 12,551 | ||
Management fees, Chief Executive Officer [Member] | ||||
Accounts payable related parties | $ 30,000 | $ 0 |
RELATED PARTY TRANSACTIONS (D_3
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 01, 2021 | Oct. 25, 2020 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Nov. 12, 2020 | |
Compensation to related party | $ 39,063 | $ 78,126 | |||||||
Accounts payable related parties | $ 50,000 | 135,927 | 135,927 | $ 12,551 | $ 0 | ||||
Rent expense | $ 12,501 | 4,163 | $ 20,835 | 45,837 | |||||
Common stock share, value | $ 312,500 | $ 432,000 | |||||||
Restricted common stock | 1,347,894 | 17,280,000 | |||||||
Capital stock to be issued | $ 54,750 | $ 54,750 | $ 432,000 | ||||||
Lease payment | $ 50,000 | ||||||||
Rent per month | $ 3,500 | ||||||||
Common stock shares, issued | 376,815,718 | 376,815,718 | 296,236,627 | 289,147,675 | |||||
Acquisition expense | $ 2,078 | $ (342) | $ 48,135 | $ 259 | $ 20,989 | $ 1,494 | |||
Chief Administrative Officer [Member] | |||||||||
Bonus | 90,000 | 90,000 | |||||||
Management fees | 36,000 | 72,000 | |||||||
Monthly fee | 20,000 | ||||||||
Minimum [Member] | |||||||||
Monthly fee | 12,000 | ||||||||
Bonus CEO [Member] | |||||||||
Accounts payable related parties | 100,000 | 100,000 | 0 | ||||||
Bonus | 100,000 | 100,000 | |||||||
Monthly fee | 18,000 | ||||||||
Related Party expenses | 58,000 | 103,000 | |||||||
Accounts payable | 30,000 | 30,000 | |||||||
Accounts Payable CTO [Member] | |||||||||
Accounts payable related parties | 5,927 | 5,927 | 12,551 | ||||||
Rent per month | $ 3,500 | 10,500 | 21,000 | ||||||
Bonus | 100,000 | 100,000 | |||||||
Management fees | $ 30,000 | 60,000 | |||||||
Accounts Payable CTO [Member] | Maximum [Member] | |||||||||
Monthly fee | $ 15,000 | ||||||||
CTO [Member] | |||||||||
Compensation to related party | 12,000 | ||||||||
Lease payment | 12,551 | ||||||||
Management fees | 156,000 | 58,010 | |||||||
Monthly fee | 15,000 | 15,000 | |||||||
CEO [Member] | |||||||||
Compensation to related party | 12,000 | 12,000 | |||||||
Management fees | 156,000 | 205,750 | |||||||
Monthly fee | $ 12,000 | ||||||||
April 1, 2020 [Member] | |||||||||
Compensation to related party | 10,000 | ||||||||
Common stock shares, issued | 12,500,000 | ||||||||
Acquisition expense | $ 156,250 | 156,250 | |||||||
Term of agreement | 2 years | ||||||||
August 15, 2020 [Member] | |||||||||
Common stock share, value per share | $ 0.025 | ||||||||
Common stock shares, issued | 20,000,000 | ||||||||
Acquisition expense | 500,000 | ||||||||
Common Stock [Member] | |||||||||
Restricted common stock | 17,280,000 | ||||||||
Capital stock to be issued | $ 432,000 | ||||||||
Series D Preferred Stock [Member] | |||||||||
Capital stock to be issued | $ 1,347,894 | ||||||||
Preferred stock shares sold | 50,000 | 50,000 |
STOCKHOLDERS EQUITY (Details Na
STOCKHOLDERS EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Jun. 03, 2021 | Aug. 31, 2020 | May 31, 2020 | Jan. 31, 2020 | Jul. 31, 2020 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Jun. 02, 2021 | Nov. 12, 2020 | Aug. 15, 2020 | |
Common stock shares, authorized | 500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 | ||||||||||
Common stock shares, Par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||
Common stock shares, issued | 376,815,718 | 376,815,718 | 296,236,627 | 289,147,675 | ||||||||||
Preferred stock shared authorized | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||
Common stock shares, outstanding | 376,815,718 | 376,815,718 | 296,236,627 | 289,147,675 | ||||||||||
Common stock issued for common stock to be issued | 17,280,000 | 17,280,000 | ||||||||||||
Pursuant to subscription agreement shares issued per share | $ 0.025 | $ 0.02 | ||||||||||||
Shares issued pursuant to a subscription agreement | 44,600,000 | 1,000,000 | 9,150,000 | |||||||||||
Shares issued pursuant to a subscription agreement, amount | $ 25,000 | |||||||||||||
Common shares issued for services, shares | 6,750,000 | 16,750,000 | ||||||||||||
Value of the issuance of stock | $ 588,592 | $ 945,000 | $ 1,300,375 | $ 738,750 | ||||||||||
Stock- based compensation expense | 787,771 | |||||||||||||
Common stock issued for payment of accounts payable | $ 106,952 | |||||||||||||
Cancellation of common shares | 28,040,000 | |||||||||||||
Stock reserved for issuance | 1,347,894 | 17,280,000 | ||||||||||||
Proceeds from sale of preferred stock | 2,963,500 | 360,000 | ||||||||||||
Stock- based compensation expense | $ 212,864 | $ 153,564 | 678,146 | 302,961 | $ 648,831 | $ 871,860 | ||||||||
Chief Technology Officer [Member] | ||||||||||||||
Common stock shares, issued | 20,000,000 | |||||||||||||
Stock- based compensation expense | $ 58,000 | $ 36,000 | $ 203,000 | $ 72,000 | 156,000 | 558,010 | ||||||||
August 2020 [Member] | ||||||||||||||
Common shares issued for services, shares | 23,350,000 | |||||||||||||
Stock- based compensation expense | 270,313 | 102,891 | ||||||||||||
Common stock for services per share | $ 0.025 | |||||||||||||
January 2020 [Member] | ||||||||||||||
Common shares issued for services, shares | 4,000,000 | |||||||||||||
Stock- based compensation expense | 80,000 | |||||||||||||
Common stock for services per share | $ 0.02 | |||||||||||||
May 2020 [Member] | ||||||||||||||
Common shares issued for services, shares | 2,500,000 | |||||||||||||
Stock- based compensation expense | $ 38,750 | $ 18,750 | ||||||||||||
Common stock for services per share | $ 0.03 | |||||||||||||
Series E Preferred Stock [Member] | ||||||||||||||
Preferred stock, par value | $ 0.05 | |||||||||||||
Conversion of preferred stock | 13,650,000 | |||||||||||||
Preferred stock issued | 13,650,000 | 13,650,000 | ||||||||||||
Proceeds from sale of preferred stock | $ 682,500 | |||||||||||||
Preferred stock conversion price | $ 0.20 | |||||||||||||
Series D Preferred Stock [Member] | ||||||||||||||
Conversion of preferred stock | 50,000 | |||||||||||||
Preferred stock issued | 50,000 | 50,000 |
CAPITAL STOCK (Details Narrativ
CAPITAL STOCK (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Nov. 24, 2021 | Jun. 02, 2021 | Mar. 31, 2022 | Sep. 30, 2021 | Nov. 12, 2020 | Sep. 30, 2020 | |
Common stock shares, authorized | 500,000,000 | 500,000,000 | 500,000,000 | |||
Capital stock reserved for issuance | $ 323,583 | |||||
Common stock shares, Par value | $ 0.001 | $ 0.001 | $ 0.001 | |||
Common stock shares, issued | 376,815,718 | 296,236,627 | 289,147,675 | |||
Common stock issued | 4,000,000 | |||||
Capital stock to be issued | $ 54,750 | $ 432,000 | ||||
Preferred stock shared authorized | 100,000,000 | 100,000,000 | 100,000,000 | |||
Reduction in capital stock to be issued | $ 268,833 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||
Common shares issued for services, value | $ 981,175 | |||||
Common shares issued for services | 6,750,000 | 16,750,000 | ||||
Shares issued for payment of accounts payable | 909,091 | |||||
Capital stock reserved for issuance | 1,347,894 | 17,280,000 | ||||
Series F Preferred Shares [Member] | ||||||
Preferred stock, par value | $ 0.05 | |||||
Preferred stock issued | 59,270,000 | |||||
Preferred stock shares outstanding | 0 | |||||
Common stock issued upon conversion | 59,270,000 | 59,270,000 | ||||
Number of shares converted | 59,270,000 | |||||
Proceeds from issuance of preferred stock | $ 2,963,750 | |||||
Series E Preferred Shares [Member] | ||||||
Preferred stock shares outstanding | 0 | |||||
Common stock issued upon conversion | 13,650,000 | |||||
Number of shares converted | 13,650,000 | 13,650,000 | ||||
Series D Preferred Shares [Member] | ||||||
Capital stock reserved for issuance | 1,347,894 | |||||
Preferred stock issued | 50,000 | 50,000 | ||||
Preferred stock shares outstanding | 50,000 | 50,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - Boustead Securities, LLC - USD ($) | Mar. 20, 2021 | Oct. 22, 2020 |
Compensation amount | $ 10,000 | |
Common stock shares issued as compensation | 13,500,000 | |
Financing proceeds received | $ 1,150,000 |
DEFERRED REVENUE (Details Narra
DEFERRED REVENUE (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
DEFERRED REVENUE | ||||||
Revenue | $ 936 | $ 0 | $ 1,873 | $ 70,520 | $ 94,626 | $ 48,513 |
Subscription agreement, deferred revenues | $ 1,716 | $ 1,716 | $ 3,588 | |||
Description of subscription period | The subscription period is from August 2021 through July 2022 | The subscription period is from August 2021 through July 2022, and accordingly the Company will recognize the revenue over such period | ||||
Subscription agreement revenue | $ 156 | |||||
Company received from subscription | $ 3,744 |
INCOME TAXES (Details )
INCOME TAXES (Details ) - U.S. statutory [Memner] - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Pre-tax loss | $ (2,593,537) | $ (1,266,844) |
U.S. federal corporate income tax rate | 21% | 21% |
Expected U.S. income tax credit | $ (544,643) | $ (266,038) |
Permanent differences | 286,790 | 147,345 |
Change of valuation allowance | 257,853 | 118,693 |
Effective tax expense | $ 0 | $ 0 |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
INCOME TAXES | ||
Net operating losses carried forward | $ 1,025,441 | $ 767,588 |
Less: Valuation allowance | (1,025,441) | (767,588) |
Net deferred tax assets | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 12 Months Ended |
Sep. 30, 2021 USD ($) | |
INCOME TAXES | |
Net operating loss carryforwards | $ 4,883,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - shares | 1 Months Ended | 6 Months Ended | |
Apr. 11, 2022 | Nov. 24, 2021 | Mar. 31, 2022 | |
Preferred Stock shares raised, amount | 909,091 | ||
Subsequent Event [Member] | |||
Restricted shares | 250,000 | ||
Conversion description | The Series F Preferred Stock automatically converts to common stock after the shares of common stock closing market price is at least $0.20 for twenty (20) consecutive trading days | ||
Preferred stock value , shares Certificate of Designation | 59,270,000 | ||
Preferred stock issued | 59,270,000 | ||
Preferred Stock shares raised, amount | 2,963,750 |