Cover
Cover - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Jan. 04, 2024 | Mar. 31, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Sep. 30, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --09-30 | ||
Entity File Number | 000-56297 | ||
Entity Registrant Name | ZEUUS, INC. | ||
Entity Central Index Key | 0001687926 | ||
Entity Tax Identification Number | 37-1830331 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 9th Floor | ||
Entity Address, Address Line Two | 31 West 27th Street | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10001 | ||
City Area Code | (888) | ||
Local Phone Number | 469-3887 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 105,515,460 | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Name | Fruci & Associates II, PLLC | ||
Auditor Firm ID | 5525 | ||
Auditor Location | Spokane, Washington |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current Assets: | ||
Cash | $ 300,028 | $ 42,949 |
Deposit and other assets | 65,358 | 15,674 |
Total current assets | 365,386 | 58,623 |
Property and equipment, net | 179,171 | 83,191 |
Intangible assets | 720,000 | 900,000 |
Total other assets | 899,171 | 983,191 |
Total Assets | 1,264,557 | 1,041,814 |
Current Liabilities: | ||
Accounts payable | 36,062 | 45,846 |
Accrued interest– related party | 175,429 | 49,107 |
Total Current Liabilities | 2,331,279 | 1,314,734 |
Total Liabilities | 2,331,279 | 1,314,734 |
Commitments and contingencies | ||
Stockholders’ Equity (Deficit): | ||
Common Stock, par value $0.001, 200,000,000 shares authorized; 105,515,460 shares issued and outstanding | 105,515 | 105,515 |
Additional paid-in capital | 889,435 | 888,061 |
Accumulated other comprehensive income | 11,917 | 17,060 |
Accumulated deficit | (2,073,589) | (1,283,556) |
Total Stockholders’ Equity (Deficit) | (1,066,722) | (272,920) |
Total Liabilities and Stockholders’ Deficit | 1,264,557 | 1,041,814 |
Nonrelated Party [Member] | ||
Current Liabilities: | ||
Other current liabilities | 37,979 | 60,197 |
Related Party [Member] | ||
Current Liabilities: | ||
Other current liabilities | $ 2,081,809 | $ 1,159,584 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2023 | Sep. 30, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares outstanding | 105,515,460 | 105,515,460 |
Common stock, shares issued | 105,515,460 | 105,515,460 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating Expenses: | ||
General and administrative | $ 325,615 | $ 562,697 |
Amortization and depreciation | 194,808 | 17,102 |
Director compensation | 34,650 | |
Professional fees | 142,258 | 176,576 |
Total operating expenses | 662,681 | 791,025 |
Loss from operations | (662,681) | (791,025) |
Other income (expense) | ||
Interest income | ||
Interest expense | (127,352) | (42,897) |
Total other expense | (127,352) | (42,897) |
Loss before provision for income taxes | (790,033) | (833,922) |
Provision for income taxes | ||
Net Loss | (790,033) | (833,922) |
Other comprehensive income: | ||
Foreign currency translation adjustment | (5,143) | 14,998 |
Comprehensive Loss | $ (795,176) | $ (818,924) |
Loss per share, basic | $ (0.01) | $ (0.01) |
Loss per share, diluted | $ (0.01) | $ (0.01) |
Weighted average common shares outstanding, basic | 105,515,460 | 105,515,460 |
Weighted average common shares outstanding, diluted | 105,515,460 | 105,515,460 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Sep. 30, 2021 | $ 105,443 | $ 727,857 | $ (449,634) | $ 2,062 | $ 385,728 |
Balance, shares at Sep. 30, 2021 | 105,442,890 | ||||
Common stock issued for director services | $ 23 | 34,627 | 34,650 | ||
Common stock issued for director services, shares | 23,100 | ||||
Common stock issued for cash | $ 49 | 125,577 | 125,626 | ||
Common stock issued for cash , shares | 49,470 | ||||
Comprehensive loss | (833,922) | 14,998 | (818,924) | ||
Balance at Sep. 30, 2022 | $ 105,515 | 888,061 | (1,283,556) | 17,060 | (272,920) |
Balance, shares at Sep. 30, 2022 | 105,515,460 | ||||
Comprehensive loss | (790,033) | (5,143) | (795,176) | ||
Cash from prior stock sale | 1,374 | 1,374 | |||
Balance at Sep. 30, 2023 | $ 105,515 | $ 889,435 | $ (2,073,589) | $ 11,917 | $ (1,066,722) |
Balance, shares at Sep. 30, 2023 | 105,515,460 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net Loss | $ (790,033) | $ (833,922) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization expense | 194,808 | 17,102 |
Stock issued for director services | 34,650 | |
Changes in operating assets and liabilities: | ||
Deposit and other assets | (49,684) | 6,043 |
Accounts payable | (9,785) | (6,926) |
Accrued interest– related party | 126,322 | 42,898 |
Other current liabilities | (22,218) | 24,339 |
Net cash used in operating activities | (550,590) | (715,816) |
Cash flows from investing activities: | ||
Purchase of equipment | (110,788) | (56,765) |
Net cash used in investing activities | (110,788) | (56,765) |
Cash flows from financing activities: | ||
Proceeds from sale of common stock | 1,374 | 125,626 |
Proceeds from related party loans | 922,226 | 584,900 |
Net cash provided by financing activities | 923,600 | 710,526 |
Net change in cash | 262,222 | (62,055) |
Effects of currency translation | (5,143) | 14,998 |
Cash, beginning of year | 42,949 | 90,006 |
Cash, end of year | 300,028 | 42,949 |
Supplemental disclosure of cash flow information: | ||
Cash paid for taxes | ||
Cash paid for interest |
ORGANIZATION AND BUSINESS
ORGANIZATION AND BUSINESS | 12 Months Ended |
Sep. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BUSINESS | NOTE 1 – ORGANIZATION AND BUSINESS ZEUUS, INC. (formerly Kriptech International Corp.) (the “Company”) is a corporation established under the corporation laws in the State of Nevada on March 20, 2016. The Company has adopted September 30 fiscal year end. On June 11, 2020, Meshal Al Mutawa, acquired control of 8,000,000 75.97 270,000 On June 11, 2020, (i) Mr. Anatolii Antontcev On June 11, 2020, Mr. Meshal Al Mutawa was appointed to the Company’s Board of Directors and as the Company’s President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Secretary. On August 31, 2020, Bassam A.I. Al-Mutawa, acquired control of eight million ( 8,000,000 75.97 On August 31, 2020, Mr. Bassam A.I. Al-Mutawa was appointed to the Company’s Board of Directors and as the Company’s President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Secretary. On March 9, 2021, the Financial Industry Regulatory Authority (“FINRA”) approved the Company’s name change to Zeuus, Inc. and its trading symbol to ZUUS. The market effective date of the name and trading symbol change was March 10, 2021. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. At times, such deposits may be in excess of the Federal Deposit Insurance Corporation insurable amount (“FDIC”). Cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no Principles of Consolidation The accompanying consolidated financial statements for the years ended September 30, 2023 and 2022, include the accounts of the Company and its wholly owned subsidiaries. Zeuus Energy, incorporated on July 27, 2021 i n Montenegro Translation Adjustment For the years ended September 30, 2023 and 2022, the accounts of the Company’s subsidiary Zeuus Energy, Inc, are maintained in Euros. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the years ended September 30, 2023 and 2022 is included in net loss and foreign currency translation adjustments. Reclassifications Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the year ended September 30, 2023. There was no impact to net loss as a result of any reclassifications. Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, which range from three to seven years. Leasehold improvements are amortized over the lesser of the remaining term of the lease or the estimated useful life of the asset. Expenditures for repairs and maintenance are expensed as incurred. Basic and Diluted Earnings Per Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. As of September 30, 2023 and 2022, there are no potentially dilutive shares of common stock. Stock-based Compensation We account for equity-based transactions with employees and non-employees under the provisions of FASB ASC Topic 718, “Compensation – Stock Compensation” (Topic 718) Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable represent the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. Recently issued accounting pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Sep. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s consolidated financial statements as of September 30, 2023, were prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has an accumulated deficit at September 30, 2023 of $ 2,073,589 790,033 550,590 In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
INTANGIBLE ASSET
INTANGIBLE ASSET | 12 Months Ended |
Sep. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSET | NOTE 4 – INTANGIBLE ASSET On June 1, 2021, the Company completed the closing of the transactions under the terms of the Asset Purchase Agreement with Andrei Seleznev, Nikolay Alekseev, and Ilia Alekseev (collectively, “Sellers”), dated May 12, 2021, to purchase the assets comprising the Wind Turbine Technology. In exchange for these assets, the Company paid $ 100,000 14,289 800,000 Intangible asset stated at cost, less accumulated amortization consisted of the following: SCHEDULE OF INTANGIBLE ASSET September 30, 2023 September 30, 2022 Wind Turbine Technology $ 900,000 $ 900,000 Less: accumulated amortization (180,000 ) — Intangible asset, net $ 720,000 $ 900,000 Amortization expense Amortization expense for the nine months ended September 30, 2023 and 2022 was $ 180,000 0 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets as follows between three five years Long lived assets, including property and equipment, to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income. Property and equipment stated at cost, less accumulated depreciation consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, September 30, Property and equipment $ 208,576 $ 100,293 Less: accumulated depreciation (29,405 ) (17,102 ) Property and equipment, net $ 179,171 $ 83,191 Depreciation expense Depreciation expense for the years ended September 30, 2023 and 2022 was $ 14,808 17,102 |
COMMON STOCK TRANSACTIONS
COMMON STOCK TRANSACTIONS | 12 Months Ended |
Sep. 30, 2023 | |
Equity [Abstract] | |
COMMON STOCK TRANSACTIONS | NOTE 6 - COMMON STOCK TRANSACTIONS On July 25, 2022, the Company was advised by FINRA that the 10:1 forward stock split of the Company’s common stock was effective July 25, 2022 105,509,660 10,550,966 During the year ended September 30, 2022, the Company sold 49,470 125,626 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 7 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Since March 20, 2016, (inception) through September 30, 2023, Meshal Al Mutawa, the Company’s former president, treasurer and director, and son of Bassam Al-Mutawa, has loaned the Company funds to pay for incorporation costs and operating expenses. The following is summary of the loans as of September 30, 2023. SCHEDULE OF SUMMARY OF THE LOANS Date Maturity Rate Default Rate Balance 9/30/2022 Additions Balance 9/30/2023 8/30/2021 10/31/2022 8 % 16 % $ 100,000 $ — $ 100,000 2020 n/a n/a n/a $ 13,823 $ — $ 13,823 10/12/2021 10/12/2022 8 % 16 % $ 100,000 $ — $ 100,000 10/25/2021 10/25/2022 8 % 16 % $ 150,000 $ — $ 150,000 3/24/2022 3/24/2023 8 % 16 % $ 45,000 $ — $ 45,000 4/11/2022 4/11/2023 8 % 16 % $ 80,000 $ — $ 80,000 6/6/2022 6/6/2023 8 % 16 % $ 50,000 $ — $ 50,000 7/18/2022 7/18/2023 8 % 16 % $ 100,000 $ — $ 100,000 9/20/2022 9/20/2023 8 % 16 % $ 60,000 $ — $ 60,000 11/22/2022 11/22/2023 8 % 16 % $ — $ 151,974 $ 151,974 1/24/2023 1/24/2024 8 % 16 % $ — $ 97,758 $ 97,758 3/16/2023 3/16/2024 8 % 16 % $ — $ 50,000 $ 50,000 5/16/2023 5/16/2024 8 % 16 % $ — $ 27,374 $ 27,374 6/5/2023 6/5/2024 8 % 16 % $ — $ 113,974 $ 113,974 7/27/2023 7/27/2024 8 % 16 % $ — $ 16,224 $ 16,224 7/31/2023 7/31/2024 8 % 16 % $ — $ 9,974 $ 9,974 8/7/2023 8/7/2024 8 % 16 % $ — $ 4,974 $ 4,974 8/8/2023 8/8/2024 8 % 16 % $ — $ 449,974 $ 449,974 Balance $ 698,823 $ 922,226 $ 1,621,049 Total accrued interest on the above notes as of September 30, 2023 and 2022, is $ 154,741 36,002 On January 7, 2021, Bassam Al-Mutawa , CEO, loaned the Company $ 240,000 150,000 150,000 5 20,688 460,760 20,688 During the year ended September 30, 2022, the Company granted 23,100 1.50 34,650 |
INCOME TAX
INCOME TAX | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX | NOTE 8 – INCOME TAX Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has evaluated Staff Accounting Bulletin No. 118 regarding the impact of the decreased tax rates of the Tax Cuts & Jobs Act. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The U.S. federal income tax rate of 21 Net deferred tax assets consist of the following components as of September 30: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES Deferred tax asset attributable to: 2023 2022 Net operating loss carryover $ 166,000 $ 175,124 Less: valuation allowance (166,000 ) (175,124 ) Net deferred tax asset $ — $ — At September 30, 2023, the Company had net operating loss carry forwards of approximately $ 166,000 On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cut and Jobs Act (the “Tax Act”). The Tax Act establishes new tax laws that affects 2018 and future years, including a reduction in the U.S. federal corporate income tax rate to 21 Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years. ASC Topic 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements. Topic 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of September 30, 2023, the Company had no accrued interest or penalties related to uncertain tax positions. The Company is subject to examination by the various taxing authorities beginning with the tax year ended December 31, 2018 (or the tax year ended December 31, 2004 if the Company were to utilize its NOLs). |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9- SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that no material subsequent events exist. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Use of estimates | Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. |
Concentrations of Credit Risk | Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. At times, such deposits may be in excess of the Federal Deposit Insurance Corporation insurable amount (“FDIC”). |
Cash equivalents | Cash equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements for the years ended September 30, 2023 and 2022, include the accounts of the Company and its wholly owned subsidiaries. Zeuus Energy, incorporated on July 27, 2021 i n Montenegro |
Translation Adjustment | Translation Adjustment For the years ended September 30, 2023 and 2022, the accounts of the Company’s subsidiary Zeuus Energy, Inc, are maintained in Euros. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. |
Comprehensive Income | Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the years ended September 30, 2023 and 2022 is included in net loss and foreign currency translation adjustments. |
Reclassifications | Reclassifications Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the year ended September 30, 2023. There was no impact to net loss as a result of any reclassifications. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, which range from three to seven years. Leasehold improvements are amortized over the lesser of the remaining term of the lease or the estimated useful life of the asset. Expenditures for repairs and maintenance are expensed as incurred. |
Basic and Diluted Earnings Per Share | Basic and Diluted Earnings Per Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. As of September 30, 2023 and 2022, there are no potentially dilutive shares of common stock. |
Stock-based Compensation | Stock-based Compensation We account for equity-based transactions with employees and non-employees under the provisions of FASB ASC Topic 718, “Compensation – Stock Compensation” (Topic 718) |
Fair value of financial instruments | Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable represent the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. |
Recently issued accounting pronouncements | Recently issued accounting pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
INTANGIBLE ASSET (Tables)
INTANGIBLE ASSET (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSET | Intangible asset stated at cost, less accumulated amortization consisted of the following: SCHEDULE OF INTANGIBLE ASSET September 30, 2023 September 30, 2022 Wind Turbine Technology $ 900,000 $ 900,000 Less: accumulated amortization (180,000 ) — Intangible asset, net $ 720,000 $ 900,000 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | Property and equipment stated at cost, less accumulated depreciation consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, September 30, Property and equipment $ 208,576 $ 100,293 Less: accumulated depreciation (29,405 ) (17,102 ) Property and equipment, net $ 179,171 $ 83,191 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF SUMMARY OF THE LOANS | SCHEDULE OF SUMMARY OF THE LOANS Date Maturity Rate Default Rate Balance 9/30/2022 Additions Balance 9/30/2023 8/30/2021 10/31/2022 8 % 16 % $ 100,000 $ — $ 100,000 2020 n/a n/a n/a $ 13,823 $ — $ 13,823 10/12/2021 10/12/2022 8 % 16 % $ 100,000 $ — $ 100,000 10/25/2021 10/25/2022 8 % 16 % $ 150,000 $ — $ 150,000 3/24/2022 3/24/2023 8 % 16 % $ 45,000 $ — $ 45,000 4/11/2022 4/11/2023 8 % 16 % $ 80,000 $ — $ 80,000 6/6/2022 6/6/2023 8 % 16 % $ 50,000 $ — $ 50,000 7/18/2022 7/18/2023 8 % 16 % $ 100,000 $ — $ 100,000 9/20/2022 9/20/2023 8 % 16 % $ 60,000 $ — $ 60,000 11/22/2022 11/22/2023 8 % 16 % $ — $ 151,974 $ 151,974 1/24/2023 1/24/2024 8 % 16 % $ — $ 97,758 $ 97,758 3/16/2023 3/16/2024 8 % 16 % $ — $ 50,000 $ 50,000 5/16/2023 5/16/2024 8 % 16 % $ — $ 27,374 $ 27,374 6/5/2023 6/5/2024 8 % 16 % $ — $ 113,974 $ 113,974 7/27/2023 7/27/2024 8 % 16 % $ — $ 16,224 $ 16,224 7/31/2023 7/31/2024 8 % 16 % $ — $ 9,974 $ 9,974 8/7/2023 8/7/2024 8 % 16 % $ — $ 4,974 $ 4,974 8/8/2023 8/8/2024 8 % 16 % $ — $ 449,974 $ 449,974 Balance $ 698,823 $ 922,226 $ 1,621,049 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | Net deferred tax assets consist of the following components as of September 30: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES Deferred tax asset attributable to: 2023 2022 Net operating loss carryover $ 166,000 $ 175,124 Less: valuation allowance (166,000 ) (175,124 ) Net deferred tax asset $ — $ — |
ORGANIZATION AND BUSINESS (Deta
ORGANIZATION AND BUSINESS (Details Narrative) - USD ($) | Aug. 31, 2020 | Jun. 11, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Controlling shares purchased, shares | 8,000,000 | 8,000,000 |
Controlling shares purchased, percent of total outstanding | 75.97% | 75.97% |
Controlling shares purchased, price | $ 270,000 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Accounting Policies [Abstract] | ||
Cash equivalents | $ 0 | $ 0 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 2,073,589 | $ 1,283,556 |
Net loss | 790,033 | 833,922 |
Net cash used in operating activities | $ 550,590 | $ 715,816 |
SCHEDULE OF INTANGIBLE ASSET (D
SCHEDULE OF INTANGIBLE ASSET (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Wind Turbine Technology | $ 900,000 | $ 900,000 |
Less: accumulated amortization | (180,000) | |
Intangible asset, net | $ 720,000 | $ 900,000 |
INTANGIBLE ASSET (Details Narra
INTANGIBLE ASSET (Details Narrative) - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 01, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Cash | $ 300,028 | $ 42,949 | $ 100,000 |
Shares, issued | 14,289 | ||
Other intangible assets, net | $ 800,000 | ||
Amortization expense | $ 180,000 | $ 0 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Property, Plant and Equipment [Abstract] | ||
Property and equipment | $ 208,576 | $ 100,293 |
Less: accumulated depreciation | (29,405) | (17,102) |
Property and equipment, net | $ 179,171 | $ 83,191 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 14,808 | $ 17,102 |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, estimated useful Life | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, estimated useful Life | 5 years |
COMMON STOCK TRANSACTIONS (Deta
COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 25, 2022 | Sep. 30, 2022 | |
Equity [Abstract] | ||
Forward stock split | 10:1 forward stock split of the Company’s common stock was effective July 25, 2022 | |
Shares stock splits | 105,509,660 | |
Excess stock, shares outstanding | 10,550,966 | |
Common stock shares sold | 49,470 | |
Cash proceeds | $ 125,626 |
SCHEDULE OF SUMMARY OF THE LOAN
SCHEDULE OF SUMMARY OF THE LOANS (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument face amount | $ 1,621,049 | $ 698,823 |
Additions of loans | $ 922,226 | |
August Thirty Two Thousand Twenty One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Oct. 31, 2022 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 100,000 | 100,000 |
Additions of loans | ||
Two Thousand Twenty [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument face amount | 13,823 | 13,823 |
Additions of loans | ||
October Twelve Two Thousand Twenty One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Oct. 12, 2022 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 100,000 | 100,000 |
Additions of loans | ||
October Twenty Five Two Thousand Twenty One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Oct. 25, 2022 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 150,000 | 150,000 |
Additions of loans | ||
March Twenty Four Two Thousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Mar. 24, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 45,000 | 45,000 |
Additions of loans | ||
April Eleven Two Thousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Apr. 11, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 80,000 | 80,000 |
Additions of loans | ||
June Six Two Thousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jun. 06, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 50,000 | 50,000 |
Additions of loans | ||
July Eighteen TwoThousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jul. 18, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 100,000 | 100,000 |
Additions of loans | ||
September Twenty Two Thousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Sep. 20, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument face amount | $ 60,000 | 60,000 |
Additions of loans | ||
November Twenty Two Two Thousand Twenty Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Nov. 22, 2023 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 151,974 | |
Additions of loans | $ 151,974 | |
January Twenty Four Two Thousand Twenty Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jan. 24, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 97,758 | |
Additions of loans | $ 97,758 | |
March Sixteen Two Thousand Twenty Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Mar. 16, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 50,000 | |
Additions of loans | $ 50,000 | |
May Sixteen Two Thousand Twenty Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | May 16, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 27,374 | |
Additions of loans | $ 27,374 | |
June Five Two Thousand Twenty Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jun. 05, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 113,974 | |
Additions of loans | $ 113,974 | |
July Twenty Seven Two Thousand Twenty Four [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jul. 27, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 16,224 | |
Additions of loans | $ 16,224 | |
July Thirty One Two Thousand Twenty Four [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Jul. 31, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 9,974 | |
Additions of loans | $ 9,974 | |
August Seven Two Thousand Twenty Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Aug. 07, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 4,974 | |
Additions of loans | $ 4,974 | |
August Eight Two Thousand Twenty Four [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Debt instrument, maturity date | Aug. 08, 2024 | |
Debt instrument, interest rate, effective percentage | 8% | |
Debt instrument, interest rate, stated percentage | 16% | |
Debt instrument face amount | $ 449,974 | |
Additions of loans | $ 449,974 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Jan. 08, 2021 | Jan. 07, 2021 | |
Related Party Transaction [Line Items] | ||||
Accrued interest | $ 154,741 | $ 36,002 | ||
Note principal amount | 1,621,049 | $ 698,823 | ||
Common stock granted for services | 23,100 | |||
Share price | $ 1.50 | |||
Other noncash expense | $ 34,650 | |||
Bassam Al-Mutawa [Member] | ||||
Related Party Transaction [Line Items] | ||||
Notes payable | 460,760 | $ 150,000 | $ 240,000 | |
Note principal amount | $ 150,000 | |||
Interest rate | 5% | |||
Interest | 20,688 | |||
Related Party [Member] | ||||
Related Party Transaction [Line Items] | ||||
Interest accrued note | $ 20,688 |
SCHEDULE OF DEFERRED TAX ASSETS
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryover | $ 166,000 | $ 175,124 |
Less: valuation allowance | (166,000) | (175,124) |
Net deferred tax asset |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 22, 2017 | Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||
Federal corporate tax rate | 21% | 21% |
Operating loss carry forwards | $ 166,000 |