Convertible Notes Payable | Note 7 – Convertible Notes Payable Related party convertible notes payable consist of the following at June 30, 2024 and September 30, 2023, respectively: Schedule of Related Party Convertible Notes Payable June 30, 2024 September 30, 2023 On February 10, 2020, the Company completed the sale to an accredited investor of a 9% Secured Convertible Promissory Note in the principal amount of $ 350,000 August 10, 2022 9 0.15 0.03 50,000 400,000 50,000 1,666,667 0.03 February 11, 2024 4,550,000 43,788 As a result of the shares issued upon the extension agreement, the lender now holds more the 5% of the total outstanding common shares, and is therefore considered a related party. On February 27, 2024, the Company repaid the note and related accrued interest in full. $ - $ 350,000 Total related party convertible notes payable - 350,000 Less: unamortized debt discounts - (10,748 ) Total convertible debt - 339,252 Less: current maturities - (339,252 ) Related party convertible notes payable $ - $ - Convertible notes payable consists of the following at June 30, 2024 and September 30, 2023, respectively: Schedule of Convertible Notes Payable June 30, 2024 September 30, 2023 On February 11, 2020, the Company completed the sale to an accredited investor of a 9% Secured Convertible Promissory Note in the principal amount of $ 50,000 August 11, 2022 9 0.15 0.03 10,000 60,000 10,000 333,334 0.03 February 11, 2024 650,000 6,989 $ 50,000 $ 50,000 On February 11, 2020, the Company completed the sale to an accredited investor of a 9% Secured Subordinated Convertible Promissory Note in the principal amount of $ 150,000 August 11, 2022 9 0.15 0.03 50,000 200,000 50,000 1,666,667 0.03 February 11, 2024 1,950,000 20,968 - 150,000 On September 23, 2019, the Company received proceeds of $ 200,000 8 August 10, 2022 0.11 August 10, 2022 0.03 90,000 3,000,000 0.03 355,469 98,188 February 11, 2024 4,621,105 32,166 February 11, 2025 0.01 481,955 355,469 355,469 On November 8, 2018, the Company received proceeds of $ 350,000 8 August 10, 2022 0.14 August 10, 2022 0.03 February 11, 2024 4,550,000 31,671 40,000 February 11, 2025 0.01 474,539 310,000 350,000 On October 1, 2022, the Company entered into a senior secured convertible note that carries an 8 February 11, 2024 362,765 0.01 4,715,945 30,102 362,765 362,765 On November 5, 2018, the Company received proceeds of $ 150,000 8 August 10, 2022 0.14 August 10, 2022 0.03 - 150,000 Total convertible notes payable 1,078,235 1,418,234 Less: unamortized debt discounts - (32,302 ) Total convertible debt 1,078,235 1,385,932 Less: current maturities (1,078,235 ) (1,385,932 ) Convertible notes payable $ - $ - The Company recorded debt amortization expense attributed to the previously recorded debt discount in the amounts of $ 43,050 106,636 0 All of the convertible notes (except the related party convertible note) limit the maximum number of shares that can be owned by each note holder as a result of the conversions to common stock to 4.99 The Company recorded interest expense pursuant to the stated interest rates on the convertible notes in the amount of $ 100,238 111,285 The Company recognized interest expense for the nine months ended June 30, 2024 and 2023, respectively, as follows: Schedule of Interest Expense June 30, 2024 June 30, 2023 Interest on notes payable $ 36,614 $ 59,686 Amortization of beneficial conversion features 43,050 106,636 Interest on convertible notes 100,238 111,285 Total interest expense $ 179,902 $ 277,607 |