Virtual Interactive Technologies (VRVR) 10-Q 6 Jun 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2023	May 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--09-30
Entity File Number	000-56625
Entity Registrant Name	VIRTUAL INTERACTIVE TECHNOLOGIES CORP.
Entity Central Index Key	0001536089
Entity Tax Identification Number	36-4752858
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	600 17th Street
Entity Address, Address Line Two	Suite 2800 South
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	(303)
Local Phone Number	228-7120
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,251,276

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2023	Sep. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 31,036	$ 40,829
Royalties receivable	88,831	87,614
Total current assets	119,867	128,443
TOTAL ASSETS	119,867	128,443
CURRENT LIABILITIES:
Accounts payable and accrued liabilities	73,636	55,386
Convertible notes payable, net of discounts	470,000	470,000
Total current liabilities	1,716,826	1,657,558
LONG-TERM LIABILITIES:
Note payable, net of current portion	10,000	10,000
Interest payable, net of current portion	2,872	2,721
Total long-term liabilities	12,872	12,721
Total liabilities	1,729,698	1,670,279
STOCKHOLDERS’ DEFICIT
Common stock, $ 0.001 par value; 90,000,000 shares authorized, 8,942,526 shares issued and 8,251,276 shares outstanding	8,251	8,251
Additional paid-in-capital	8,104,112	8,094,820
Treasury stock (691,250 shares at cost)	(45,000)	(45,000)
Accumulated deficit	(9,681,600)	(9,604,313)
Total stockholders’ deficit	(1,609,831)	(1,541,836)
Total liabilities and stockholders’ deficit	119,867	128,443
Series A Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred stock, value	500	500
Series B Convertible Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred stock, value	2,706	2,706
Series C Convertible Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred stock, value	1,200	1,200
Related Party [Member]
CURRENT LIABILITIES:
Accounts payable, related party	20,000	12,000
Notes payable, current portion	741,030	741,030
Nonrelated Party [Member]
CURRENT LIABILITIES:
Interest payable, current portion	$ 412,160	$ 379,142

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2023	Sep. 30, 2023
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	8,251,276	8,942,526
Common stock, shares outstanding	8,251,276	8,942,526
Treasury Stock, Common, Shares	691,250
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	50,000	50,000
Preferred stock, shares outstanding	50,000	50,000
Series B Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	270,612	270,612
Preferred stock, shares outstanding	270,612	270,612
Series C Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	1,200,480	1,200,480
Preferred stock, shares outstanding	1,200,480	1,200,480

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Revenue – royalties	$ 30,101	$ 20,012
Gross profit	30,101	20,012
Operating expenses:
Professional fees	56,237	712,923
Marketing and advertising	2,795	48,042
General and administrative	4,657	4,038
Total operating expenses	63,689	765,003
Loss from operations	(33,588)	(744,991)
Other income (expense)
Other income	378	378
Bad debt expense	(378)
Amortization of debt discount		(112,857)
Loss from foreign currency transactions	(529)	(30)
Total other expense, net	(43,699)	(142,625)
Net loss	$ (77,287)	$ (887,616)
Loss per share, basic	$ (0.01)	$ (0.11)
Loss per share, fully diluted	$ (0.01)	$ (0.11)
Weighted average number of shares outstanding, basic	8,251,276	8,248,925
Weighted average number of shares outstanding, fully diluted	8,251,276	8,248,925
Related Party [Member]
Other income (expense)
Interest expense		$ (13,971)
Nonrelated Party [Member]
Other income (expense)
Interest expense	$ (43,170)	$ (16,145)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series B Convertible Preferred Stock [Member]	Preferred Stock [Member] Series C Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Total
Balance at Sep. 30, 2022	$ 500	$ 2,706		$ 8,059	$ 7,595,246		$ (6,786,973)	$ 819,538
Balance, shares at Sep. 30, 2022	50,000	270,612		8,059,034		41,250
Net loss							(887,616)	(887,616)
Common stock issued for services				$ 212	312,663			312,875
Common stock issued for services, shares				212,500
Warrants issued for services					363,209			363,209
Balance at Dec. 31, 2022	$ 500	$ 2,706		$ 8,271	8,271,118		(7,674,589)	608,006
Balance, shares at Dec. 31, 2022	50,000	270,612		8,271,534		41,250
Balance at Sep. 30, 2023	$ 500	$ 2,706	$ 1,200	$ 8,251	8,094,820	$ (45,000)	(9,604,313)	(1,541,836)
Balance, shares at Sep. 30, 2023	50,000	270,612	1,200,480	8,251,276		691,250
Options issued for services					9,292			9,292
Net loss							(77,287)	(77,287)
Balance at Dec. 31, 2023	$ 500	$ 2,706	$ 1,200	$ 8,251	$ 8,104,112	$ (45,000)	$ (9,681,600)	$ (1,609,831)
Balance, shares at Dec. 31, 2023	50,000	270,612	1,200,480	8,251,276		691,250

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (77,287)	$ (887,616)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of warrants issued for prepaid services		389,896
Amortization of common stock issued for prepaid services		306,952
Debt discount amortization		112,857
Stock issued for services	9,292
Bad debt expense	378
Changes in operating assets and operating liabilities:
Interest receivable	(378)	(378)
Royalties receivable	(1,217)	1,347
Accounts payable and accrued liabilities	18,250	(1,191)
Accounts payable, related party	8,000	20,500
Interest payable, related party		13,970
Interest payable	33,169	16,145
Net cash used in operating activities	(9,793)	(27,518)
Net change in cash and cash equivalents	(9,793)	(27,518)
Cash and cash equivalents, beginning of period	40,829	36,378	$ 36,378
Cash and cash equivalents, end of period	31,036	8,860	$ 40,829
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid
Schedule of Non-Cash Investing and Financing Activities
Common stock issued for prepaid services		312,875
Warrants issued for prepaid services		$ 363,209

Basis of Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation While the information presented in the accompanying December 31, 2023 financial statements is unaudited and condensed, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the periods presented in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”). In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted. These financial statements should be read in conjunction with the Company’s September 30, 2023 audited financial statements (and notes thereto). Operating results for the three months ended December 31, 2023 are not necessarily indicative of the results that can be expected for the year ending September 30, 2024. The accompanying unaudited condensed consolidated financial statements herein contain the operations of Virtual Interactive Technologies Corp. (OTCPINK: VRVR), and its wholly-owned subsidiaries Advanced Interactive Gaming Inc. (“AIG Inc.”) and Advanced Interactive Gaming Ltd. (“AIG Ltd”) (collectively, the “Company” or “VIT”). All significant intercompany balances and transactions have been eliminated.

Business

Business	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Business	Note 2. Business Nature of Operations The Company is a next generation game and metaverse developer that creates immersion experiences by harnessing the latest technologies, including Blockchain and digital assets. The Company’s newly launched brand, Extrosive, is building a metaverse that replaces traditional boring financial experiences with a new paradigm, “global Prosperity space” ( “ ” Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimated. Cash Equivalents The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. The Company had no Fair Value of Financial Instruments The Company accounts for fair value measurements in accordance with accounting standard ASC 820-10-50, Fair Value Measurements. - Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. - Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. - Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. The Company’s financial instruments consist of cash, royalties receivable, accounts payable and accrued liabilities Net Income (Loss) Per Share In accordance with ASC 260 Earnings per Share, 270,612 250,000 0 173,469 235,000 1.25 0.15 3,133,333 403,303 Stock Based Compensation We follow ASC Topic 718, Compensation–Stock Compensation, Foreign Currency The Company’s functional currency is the US dollar. With the exception of stockholders’ equity (deficit), all transactions that are originally denominated in foreign currency are translated to US dollars by our international customers, on a monthly basis, when recognized by them and prior to paying royalties to the Company. All royalty revenues that are received and recognized by the Company are recorded in US dollars. Foreign currency translation gains/losses are recorded in other accumulated comprehensive income (“AOCI”) based on exchange rates prevalent on reporting dates for balance sheet items, and at weighted average exchange rates during the reporting period for the statement of operations. Foreign currency transaction gains/losses are recorded as other income (expense) in the period of settlement. No AOCI items were present during the three months ended December 31, 2023 and 2022, as all financial statement items were denominated in the US dollar. Losses from foreign currency transactions during the three months ended December 31, 2023 and 2022 totaled $ 529 30 Concentration of Credit Risk Some of our US dollar balances are held in a Bermuda bank that is not insured. As of December 31, 2023 and September 30, 2023, uninsured deposits in the Bermuda bank totaled $ 250 250,000 . Income Taxes The Company did not accrue corporate income taxes for AIG Ltd, as it is incorporated in the country of Bermuda where there is no corporate income tax. The Company has been subject to US Federal and state income taxes commencing the year ended September 30, 2020, due to its business combinations with two US companies. Deferred taxes for the VRVR (Nevada) and AIG Inc (Colorado) are provided on a liability method in accordance with ASC 740, Income Taxes, Revenue Recognition The Company follows the guidance contained in ASC 606, Revenue Recognition The Company enters into agreements with third-party developers that require us to make payments for game development and production services. In exchange for our payments, we receive the exclusive publishing and distribution rights to the finished game titles as well as, in some cases, the underlying intellectual property rights. The Company has several contracts with video game developers that entitle us to royalty streams as a percentage of revenues generated by the game sales, which vary from contract to contract. As of December 31, 2023, the Company has four royalty contracts with three developers that are generating royalty revenue. Once a game has been developed and has met the terms of the underlying royalty agreement, the game is released for commercial sales. Per each contract, the Company will receive reports on a regular basis from the game developers’ sales platforms that identify the amount of game sales, from which consideration expected to be collected from the commercial customers is computed based on the applicable royalty percentages. Royalty revenue is based on a percentage of net receipts as defined in each customer agreement and is recognized in accordance with the sale-based royalty provisions of ASC 606, which requires revenue recognition after the subsequent sales occur. The Company’s performance obligation under each royalty contract as an investor in the game is complete once funds are advanced to the gaming developer. Subsequent consideration is then received by the Company from the developers in the amount of the Company’s percentage fee of royalty income (net receipts) received by the customer. Net receipts include all gross revenues received by the customer as a result of sales of the games or related exploitation less certain taxes, refunds, manufacturing costs, freight, and other items specified in the underlying contract. During the three months ended December 31, 2023 and 2022, the Company recognized revenue from royalties of $ 30,101 20,012 Allowance for Credit Losses The Company provides an allowance for doubtful accounts equal to the estimated uncollectible royalties. The Company’s estimate is based on historical collection experience and a review of the current status of royalties receivable. It is reasonably possible that the Company’s estimate of the allowance for doubtful accounts will change and that losses ultimately incurred could differ materially from the amounts estimated in determining the allowance. The Company had royalties receivable of $ 88,831 87,614 Going Concern The accompanying condensed The Company has taken much of the cash flow from its first royalty agreement and has invested in royalty agreements for the development of several other video games. By continuing to reinvest these royalties into agreements to develop new games, along with actively managing corporate overhead, management’s plan is to substantially increase its video game royalty portfolio and cash flow over the next several years. The Company intends to continue to grow its game portfolio over the next several years, focusing on console games, virtual reality games and mobile games. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or debt financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or debt financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations. Due to uncertainties related to these matters, there exists a substantial doubt about the ability of the Company to continue as a going concern. The accompanying condensed New Accounting Pronouncements The Company has evaluated all recently issued or enacted accounting pronouncements, and has determined that all such pronouncements either do not apply or their impact is insignificant to the condensed consolidated financial statements.

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit)	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders’ Equity (Deficit)	Note 3. Stockholders’ Equity (Deficit) The Company’s common stock is quoted under the symbol “VRVR” on the OTC Pink tier operated by OTC Markets Group, Inc. To date, an active trading market for the Company’s common stock has not developed. Treasury Stock The Company accounts for treasury stock using the cost method. At December 31, 2023 and September 30, 2023, the Company held 691,250 45,000 Common Stock The Company is authorized to issue 90,000,000 0.001 8,942,526 8,251,276 691,250 Preferred Stock The Company is authorized to issue 10,000,000 0.01 At December 31, 2023 and September 30, 2023, the Company had 270,612 The Company is authorized to issue 10,000,000 convertible 0.01 1,200,480 0.1666 200,000 Series C preferred shares are convertible into common stock on a one-for-one basis at the option of the holder and there is no redemption feature. Options In connection with a consulting agreement with the Company’s new Director dated June 5, 2023, the Company issued a ten-year option to purchase 1,000,000 common shares at $ 0.15 per share. The option to purchase 250,000 shares vested immediately and the option to purchase an additional 250,000 will vest on the anniversary date of the agreement in each of the following three years. On the date of the grant, the Company valued the option at $ 148,679 using the Black-Scholes option pricing model with the following assumptions: expected life of the options of 10 years, expected volatility of 163.36 %, risk-free rate of 3.66 % and no dividend yield. The options are being expensed over the vesting period. The Company recognized $ 9,292 0 in expense for the three months ended December 31, 2023 and 2022. Schedule of Option Activity Underlying Shares Weighted Average Exercise Price Weighted Average Options outstanding at September 30, 2023 1,000,000 $ .15 9.44 Granted - - - Exercised - - - Forfeited - - - Options outstanding at December 31, 2023 1,000,000 $ .15 9.44 Options exercisable at December 31, 2023 250,000 $ .15 9.44 The intrinsic value of options outstanding as of December 31, 2023 was $ 340,000

Notes and Convertible Notes Pay

Notes and Convertible Notes Payable	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Notes and Convertible Notes Payable	Note 4. Notes and Convertible Notes Payable On March 20, 2019, an unrelated individual loaned VRVR $ 10,000 6 March 20, 2025 10,000 2,872 2,721 On March 15, 2022, an unrelated third party loaned VRVR $ 235,000 that consisted of cash received by the Company in the amount of $ 217,375 and an original issue discount of $ 17,625 . This discount is being amortized over the life of the note commencing March 15, 2022. The note carries a 15 % annual interest rate and matures on March 15, 2023 . For the three months ended December 31, 2023, the Company paid $ 5,000 March 31, 2024 235,000 , and the accrued interest was $ 65,575 and $ 54,468 , respectively. The note is convertible at a price of $ 1.25 per share. On March 21, 2022, an unrelated third party, loaned VRVR $ 235,000 that consisted of cash received by the Company, on April 4, 2022, in the amount of $ 217,375 and an original issue discount of $ 17,625 . This discount is being amortized over the life of the note commencing March 15, 2022. The note carries a 12 % annual interest rate and matures on March 21, 2023 . For the three months ended December 31, 2023, the Company paid $ 5,000 March 31, 2024 235,000 50,219 and $ 43,111 , respectively. The note is convertible at a price of $ 1.25 per share. Debt discount amortization on the above notes totaled $ 0 112,857 0 0 On March 29, 2018, the Company issued a $ 741,030 6% December 31, 2022 1,037,396 1,022,592

Related Party Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 5. Related Party Transactions As mentioned in Note 4, prior to July 2023, the Company had a note payable to its CEO in the amount of $ 741,030 On December 31, 2023 and September 30, 2023, the Company owed its Chief Financial Officer $ 20,000 and $ 12,000 , respectively, for past services to the Company, and these balances are reflected separately in the accompanying condensed consolidated balance sheets as accounts payable, related party.

Note Receivable

Note Receivable	3 Months Ended
	Dec. 31, 2023
Note Receivable
Note Receivable	Note 6. Note Receivable On December 11, 2019, the Company issued a $ 25,000 6 6,464 6,086 31,086 378

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 7. Subsequent Events The Company has evaluated all events and transactions occurring subsequent to December 31, 2023 through the date these consolidated financial statements were issued and noted no additional events or transactions requiring adjustment or disclosure.

Business (Policies)

Business (Policies)	3 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The Company is a next generation game and metaverse developer that creates immersion experiences by harnessing the latest technologies, including Blockchain and digital assets. The Company’s newly launched brand, Extrosive, is building a metaverse that replaces traditional boring financial experiences with a new paradigm, “global Prosperity space” ( “ ”
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimated.
Cash Equivalents	Cash Equivalents The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. The Company had no
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company accounts for fair value measurements in accordance with accounting standard ASC 820-10-50, Fair Value Measurements. - Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. - Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. - Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. The Company’s financial instruments consist of cash, royalties receivable, accounts payable and accrued liabilities
Net Income (Loss) Per Share	Net Income (Loss) Per Share In accordance with ASC 260 Earnings per Share, 270,612 250,000 0 173,469 235,000 1.25 0.15 3,133,333 403,303
Stock Based Compensation	Stock Based Compensation We follow ASC Topic 718, Compensation–Stock Compensation,
Foreign Currency	Foreign Currency The Company’s functional currency is the US dollar. With the exception of stockholders’ equity (deficit), all transactions that are originally denominated in foreign currency are translated to US dollars by our international customers, on a monthly basis, when recognized by them and prior to paying royalties to the Company. All royalty revenues that are received and recognized by the Company are recorded in US dollars. Foreign currency translation gains/losses are recorded in other accumulated comprehensive income (“AOCI”) based on exchange rates prevalent on reporting dates for balance sheet items, and at weighted average exchange rates during the reporting period for the statement of operations. Foreign currency transaction gains/losses are recorded as other income (expense) in the period of settlement. No AOCI items were present during the three months ended December 31, 2023 and 2022, as all financial statement items were denominated in the US dollar. Losses from foreign currency transactions during the three months ended December 31, 2023 and 2022 totaled $ 529 30
Concentration of Credit Risk	Concentration of Credit Risk Some of our US dollar balances are held in a Bermuda bank that is not insured. As of December 31, 2023 and September 30, 2023, uninsured deposits in the Bermuda bank totaled $ 250 250,000 .
Income Taxes	Income Taxes The Company did not accrue corporate income taxes for AIG Ltd, as it is incorporated in the country of Bermuda where there is no corporate income tax. The Company has been subject to US Federal and state income taxes commencing the year ended September 30, 2020, due to its business combinations with two US companies. Deferred taxes for the VRVR (Nevada) and AIG Inc (Colorado) are provided on a liability method in accordance with ASC 740, Income Taxes,
Revenue Recognition	Revenue Recognition The Company follows the guidance contained in ASC 606, Revenue Recognition The Company enters into agreements with third-party developers that require us to make payments for game development and production services. In exchange for our payments, we receive the exclusive publishing and distribution rights to the finished game titles as well as, in some cases, the underlying intellectual property rights. The Company has several contracts with video game developers that entitle us to royalty streams as a percentage of revenues generated by the game sales, which vary from contract to contract. As of December 31, 2023, the Company has four royalty contracts with three developers that are generating royalty revenue. Once a game has been developed and has met the terms of the underlying royalty agreement, the game is released for commercial sales. Per each contract, the Company will receive reports on a regular basis from the game developers’ sales platforms that identify the amount of game sales, from which consideration expected to be collected from the commercial customers is computed based on the applicable royalty percentages. Royalty revenue is based on a percentage of net receipts as defined in each customer agreement and is recognized in accordance with the sale-based royalty provisions of ASC 606, which requires revenue recognition after the subsequent sales occur. The Company’s performance obligation under each royalty contract as an investor in the game is complete once funds are advanced to the gaming developer. Subsequent consideration is then received by the Company from the developers in the amount of the Company’s percentage fee of royalty income (net receipts) received by the customer. Net receipts include all gross revenues received by the customer as a result of sales of the games or related exploitation less certain taxes, refunds, manufacturing costs, freight, and other items specified in the underlying contract. During the three months ended December 31, 2023 and 2022, the Company recognized revenue from royalties of $ 30,101 20,012 Allowance for Credit Losses The Company provides an allowance for doubtful accounts equal to the estimated uncollectible royalties. The Company’s estimate is based on historical collection experience and a review of the current status of royalties receivable. It is reasonably possible that the Company’s estimate of the allowance for doubtful accounts will change and that losses ultimately incurred could differ materially from the amounts estimated in determining the allowance. The Company had royalties receivable of $ 88,831 87,614
Going Concern	Going Concern The accompanying condensed The Company has taken much of the cash flow from its first royalty agreement and has invested in royalty agreements for the development of several other video games. By continuing to reinvest these royalties into agreements to develop new games, along with actively managing corporate overhead, management’s plan is to substantially increase its video game royalty portfolio and cash flow over the next several years. The Company intends to continue to grow its game portfolio over the next several years, focusing on console games, virtual reality games and mobile games. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or debt financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or debt financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations. Due to uncertainties related to these matters, there exists a substantial doubt about the ability of the Company to continue as a going concern. The accompanying condensed
New Accounting Pronouncements	New Accounting Pronouncements The Company has evaluated all recently issued or enacted accounting pronouncements, and has determined that all such pronouncements either do not apply or their impact is insignificant to the condensed consolidated financial statements.

Stockholders_ Equity (Deficit)

Stockholders’ Equity (Deficit) (Tables)	3 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Option Activity	Schedule of Option Activity Underlying Shares Weighted Average Exercise Price Weighted Average Options outstanding at September 30, 2023 1,000,000 $ .15 9.44 Granted - - - Exercised - - - Forfeited - - - Options outstanding at December 31, 2023 1,000,000 $ .15 9.44 Options exercisable at December 31, 2023 250,000 $ .15 9.44

Business (Details Narrative)

Business (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Dec. 31, 2023	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Cash equivalents	$ 0		$ 0		$ 0
Number of shares issued value		$ 235,000
Share price	$ 0.15	$ 1.25	$ 0.15
Foreign currency transactions			$ 529	$ 30
Revenue from royalties			30,101	$ 20,012
Royalties receivable	$ 88,831		88,831		$ 87,614
Maximum [Member]
Property, Plant and Equipment [Line Items]
Cash, FDIC Insured Amount	250,000		250,000
Bermuda Bank [Member]
Property, Plant and Equipment [Line Items]
Cash, Uninsured Amount	$ 250		$ 250
Equity Option [Member]
Property, Plant and Equipment [Line Items]
Share-based compensation arrangement by share-based payment award	1,000,000		1,000,000		1,000,000
Equity Option [Member] | Common Stock [Member]
Property, Plant and Equipment [Line Items]
Share-based compensation arrangement by share-based payment award	250,000		250,000	0
Series B Convertible Preferred Stock [Member]
Property, Plant and Equipment [Line Items]
Anti-dilutive effect	173,469		270,612	270,612
Convertible Notes [Member]
Property, Plant and Equipment [Line Items]
Anti-dilutive effect			3,133,333	403,303

Schedule of Option Activity (De

Schedule of Option Activity (Details) - Equity Option [Member]	3 Months Ended
	Dec. 31, 2023 $ / shares shares
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Underlying Shares, Options Outstanding Balance | shares	1,000,000
Weighted Average Exercise Price, Option Outstanding Balance | $ / shares	$ 0.15
Weighted Average Remaining Contractual Term (Years)	9 years 5 months 8 days
Underlying Shares, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Underlying Shares, Exercised | shares
Weighted Average Exercise Price, Exercised | $ / shares
Underlying Shares, Forfeited | shares
Weighted Average Exercise Price, Forfeited | $ / shares
Underlying Shares, Options Outstanding Balance | shares	1,000,000
Weighted Average Exercise Price, Option Outstanding Balance | $ / shares	$ 0.15
Underlying Shares, Options exercisable | shares	250,000
Weighted Average Exercise Price, Option Exercisable | $ / shares	$ 0.15
Weighted Average Remaining Contractual Term (Years), exercisable	9 years 5 months 8 days

Stockholders_ Equity (Deficit_2

Stockholders’ Equity (Deficit) (Details Narrative) - USD ($)			3 Months Ended
	Jul. 14, 2023	Jun. 05, 2023	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Treasury stock common shares			691,250
Treasury stock, cumulative cost			$ 45,000
Common stock, shares authorized			90,000,000		90,000,000
Common stock, par value			$ 0.001		$ 0.001
Common stock, shares issued			8,251,276		8,942,526
Common stock, shares outstanding			8,251,276		8,942,526
Equity Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross
Intrinsic value			$ 340,000
Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term		10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate		163.36%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate		3.66%
Consulting Agreement [Member] | Equity Option [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Costs and expenses			$ 9,292	$ 0
Series A Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized			10,000,000		10,000,000
Preferred stock, par value			$ 0.01		$ 0.01
Preferred stock, shares issued			50,000		50,000
Preferred stock, shares outstanding			50,000		50,000
Series B Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized			10,000,000
Preferred stock, par value			$ 0.01
Series B Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized			10,000,000		10,000,000
Preferred stock, par value			$ 0.01		$ 0.01
Preferred stock, shares issued			270,612		270,612
Preferred stock, shares outstanding			270,612		270,612
Series C Convertible Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized			10,000,000		10,000,000
Preferred stock, par value			$ 0.001		$ 0.001
Preferred stock, shares issued			1,200,480		1,200,480
Preferred stock, shares outstanding			1,200,480		1,200,480
Number of shares issued, shares	1,200,480
Number of shares issued, value	$ 200,000
Series C Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, par value			$ 0.01
Investor per share			$ 0.1666
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Treasury stock common shares			691,250
Common stock, shares authorized			90,000,000
Common stock, par value			$ 0.001
Common stock, shares issued			8,942,526
Common stock, shares outstanding			8,942,526		8,251,276
Ten-Year Option [Member] | Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
[custom:OptionToPurchaseCommonStock]		1,000,000
Shares Issued, Price Per Share		$ 0.15
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares		250,000
[custom:OptionToPurchaseAdditionalVestedShares]		250,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		148,679

Notes and Convertible Notes P_2

Notes and Convertible Notes Payable (Details Narrative) - USD ($)					3 Months Ended
	Jul. 27, 2022	Mar. 21, 2022	Mar. 15, 2022	Mar. 29, 2018	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Mar. 20, 2020	Dec. 11, 2019	Mar. 20, 2019
Short-Term Debt [Line Items]
Additional payment of debt					$ 5,000
Debt instrument additional maturity date					Mar. 31, 2024
Amortization of debt discount						$ 112,857
Unsecured Promissory Note [Member]
Short-Term Debt [Line Items]
Notes payable					1,037,396		$ 1,037,396
Interest rate				6%					6%
Maturity date				Dec. 31, 2022
Accrued interest					1,022,592		1,022,592
Unsecured Promissory Note [Member] | Chief Executive Officer [Member]
Short-Term Debt [Line Items]
Notes payable				$ 741,030
Unrelated Individuals [Member]
Short-Term Debt [Line Items]
Notes payable					10,000		10,000			$ 10,000
Interest rate								6%
Maturity date	Mar. 20, 2025
Interest Payable, Current					2,872		2,721
Unrelated Third Party Two [Member]
Short-Term Debt [Line Items]
Notes payable			$ 235,000		235,000
Interest rate			15%
Maturity date			Mar. 15, 2023
Interest Payable, Current					$ 65,575		54,468
Proceeds from Related Party Debt			$ 217,375
Unamortized debt discount			$ 17,625
Debt Instrument, Convertible, Conversion Price					$ 1.25
Unrelated Third Party Three [Member]
Short-Term Debt [Line Items]
Notes payable		$ 235,000			$ 235,000
Interest rate		12%
Maturity date		Mar. 21, 2023
Interest Payable, Current					50,219		43,111
Proceeds from Related Party Debt		$ 217,375
Unamortized debt discount		$ 17,625			$ 0		$ 0
Debt Instrument, Convertible, Conversion Price					$ 1.25
Amortization of debt discount					$ 0	$ 112,857

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Mar. 29, 2018
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Accounts Payable, Current	$ 20,000	$ 12,000
Unsecured Promissory Note [Member]
Related Party Transaction [Line Items]
Notes payable	$ 1,037,396	$ 1,037,396
Unsecured Promissory Note [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Notes payable			$ 741,030

Note Receivable (Details Narrat

Note Receivable (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Dec. 11, 2019	Mar. 29, 2018
Short-Term Debt [Line Items]
Additional bad debt reserve	$ 378
Unsecured Promissory Note [Member]
Short-Term Debt [Line Items]
Unsecured promissory note receivable				$ 25,000
Interest rate percentage				6%	6%
Accrued interest	$ 6,464		$ 6,086
Additional bad debt reserve			$ 31,086