Adamas One (JEWL) 10-Q 22 May 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Mar. 31, 2023	May 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--09-30
Entity File Number	001-41560
Entity Registrant Name	ADAMAS ONE CORP.
Entity Central Index Key	0001884072
Entity Tax Identification Number	83-1833607
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	17767 N. Perimeter Drive
Entity Address, Address Line Two	Suite B115
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85255
City Area Code	(480)
Local Phone Number	356-8798
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	JEWL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,111,526

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2023	Sep. 30, 2022
Current Assets:
Cash	$ 905,684	$ 88,235
Accounts receivable, net of allowance	1,394,251	1,277,368
Inventory	895,000	58,690
Total Current Assets	3,194,935	1,424,293
Property and Equipment, net	1,942,898	640,002
Other Assets:
Goodwill	5,413,000	5,413,000
Other intangible assets, net	462,000	498,000
Right of use assets - operating leases	1,368,243
Other	12,800	12,800
TOTAL ASSETS	12,393,876	7,988,095
Current Liabilities:
Accrued liabilities	2,364,046	442,645
Accrued interest	158,595	509,620
Payroll and related	3,748,710	2,924,172
Due to related party - notes payable	0	558,658
Working capital deficit - asset purchase	457,912	457,912
Notes payable and convertible term notes, net	472,500	7,882,500
Current portion of operating lease liability	176,550
Total Current Liabilities	7,378,313	12,775,507
Long-Term Liabilities:
Operating lease liability, net of current portion	1,195,586
Total liabilities	8,573,899	12,775,507
Stockholders’ Equity (Deficit)
Common stock, $0.001 par value, 100,000,000 shares authorized 22,506,526 and 16,369,423 shares issued and 22,156,526 and 16,369,423 shares outstanding at March 31, 2023 and September 30, 2022, respectively	22,505	16,369
Treasury stock 350,000 shares, at cost	(1,200,000)
Additional paid-in capital	60,237,063	36,511,950
Accumulated deficit	(55,239,591)	(41,315,731)
Total Stockholders’ Equity (deficit)	3,819,977	(4,787,412)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)	$ 12,393,876	$ 7,988,095

CONDENSED BALANCE SHEETS (Una_2

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	22,506,526	16,369,423
Common Stock, Shares, Outstanding	22,156,526	16,369,423
Treasury Stock, Common, Shares	350,000	350,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Net Revenues
Diamond sales	$ 113,931	$ 484,519	$ 840,056	$ 484,519
Cost of Revenues	45,152	146,600	179,998	146,600
Gross Profit	68,779	337,919	660,058	337,919
Operating Expenses
Selling, general and administrative	3,283,967	625,185	5,845,446	1,288,783
Employee salaries and related expenses	1,604,775	3,588,860	6,269,590	3,828,536
Severance expenses		43,000		43,000
Depreciation and amortization expense	98,852	96,250	197,704	192,500
Total operating expenses	4,987,594	4,353,295	12,312,740	5,352,819
Loss from Operations	(4,918,815)	(4,015,376)	(11,652,682)	(5,014,900)
Other Expenses
Interest expense	(27,132)	(94,677)	(2,271,178)	(199,314)
Total Other Expenses	(27,132)	(94,677)	(2,271,178)	(199,314)
Loss before income taxes	(4,945,947)	(4,110,053)	(13,923,860)	(5,214,214)
Provision for income taxes
Net Loss	$ (4,945,947)	$ (4,110,053)	$ (13,923,860)	$ (5,214,214)
Weighted average number of shares outstanding	21,861,035	19,377,468	19,616,301	19,006,812
Loss per share-basic and diluted	$ (0.23)	$ (0.21)	$ (0.71)	$ (0.27)

CONDENSED STATEMENTS OF STOCKHO

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Sep. 30, 2021	$ 18,652	$ 23,870,976		$ (30,247,873)	$ (6,358,245)
Beginning Balance, Shares at Sep. 30, 2021	18,651,750
Common stock issued to board members	$ 20	79,980			80,000
Common stock issued to board members, Shares	20,000
Common stock issued for incentive to lender	$ 14	58,655			58,669
Common stock issued for incentive to lender, Shares	14,667
Net loss				(1,104,161)	(1,104,161)
Ending balance, value at Dec. 31, 2021	$ 18,686	24,009,611		(31,352,034)	(7,323,737)
Ending Balance, Shares at Dec. 31, 2021	18,686,417
Beginning balance, value at Sep. 30, 2021	$ 18,652	23,870,976		(30,247,873)	(6,358,245)
Beginning Balance, Shares at Sep. 30, 2021	18,651,750
Net loss					(5,214,214)
Common Stock issued to employees					3,400,000
Common Stock issued to employees, Shares	850,000
Ending balance, value at Mar. 31, 2022	$ 19,607	27,691,522		(35,462,087)	(7,750,958)
Ending Balance, Shares at Mar. 31, 2022	19,607,125
Beginning balance, value at Dec. 31, 2021	$ 18,686	24,009,611		(31,352,034)	(7,323,737)
Beginning Balance, Shares at Dec. 31, 2021	18,686,417
Common stock issued to board members	$ 20	79,980			80,000
Common stock issued to board members, Shares	20,000
Net loss				(4,110,053)	(4,110,053)
Common stock issued for IPO, net of costs of $1,892,250	$ 25	99,975			100,000
Common stock issued for IPO, Shares	25,000
Common Stock issued to employees	$ 850	3,399,150			3,400,000
Common Stock issued to employees, Shares	850,000
Common shares issued from converted interest	$ 26	102,806			102,832
Common shares issued from converted interest, Shares	25,708
Ending balance, value at Mar. 31, 2022	$ 19,607	27,691,522		(35,462,087)	(7,750,958)
Ending Balance, Shares at Mar. 31, 2022	19,607,125
Beginning balance, value at Sep. 30, 2022	$ 16,369	36,511,950		(41,315,731)	(4,787,412)
Beginning Balance, Shares at Sep. 30, 2022	16,369,423
Net loss				(8,977,913)	(8,977,913)
Common stock issued for IPO, net of costs of $1,892,250	$ 2,450	9,130,300			9,132,750
Common stock issued for IPO, Shares	2,450,000
Common Stock issued to employees	$ 920	3,679,080			3,680,000
Common Stock issued to employees, Shares	920,000
Common stock issued for conversion of note and accrued interest	$ 1,814	6,266,585			6,268,399
Common stock issued for conversion of note and accrued interest, Shares	1,813,845
Warrants issued		2,038,000			2,038,000
Repurchase stock			(1,200,000)		(1,200,000)
Repurchase stock, Shares	(350,000)
Ending balance, value at Dec. 31, 2022	$ 21,553	57,625,915	(1,200,000)	(50,293,644)	6,153,824
Ending Balance, Shares at Dec. 31, 2022	21,203,268
Beginning balance, value at Sep. 30, 2022	$ 16,369	36,511,950		(41,315,731)	(4,787,412)
Beginning Balance, Shares at Sep. 30, 2022	16,369,423
Net loss					(13,923,860)
Common Stock issued to employees					4,453,000
Common Stock issued to employees, Shares	1,145,000
Warrants issued					2,038,000
Ending balance, value at Mar. 31, 2023	$ 22,505	60,237,063	(1,200,000)	(55,239,591)	3,819,977
Ending Balance, Shares at Mar. 31, 2023	22,156,526
Beginning balance, value at Dec. 31, 2022	$ 21,553	57,625,915	(1,200,000)	(50,293,644)	6,153,824
Beginning Balance, Shares at Dec. 31, 2022	21,203,268
Net loss				(4,945,947)	(4,945,947)
Common Stock issued to employees	$ 225	772,775			773,000
Common Stock issued to employees, Shares	225,000
Common stock issued for conversion of note and accrued interest	$ 95	279,308			279,400
Common stock issued for conversion of note and accrued interest, Shares	95,758
Common Stock issued for consulting services	$ 632	1,559,068			1,559,700
Common Stock issued for consulting services, Shares	632,500
Ending balance, value at Mar. 31, 2023	$ 22,505	$ 60,237,063	$ (1,200,000)	$ (55,239,591)	$ 3,819,977
Ending Balance, Shares at Mar. 31, 2023	22,156,526

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES
Net loss	$ (13,923,860)	$ (5,214,214)
Adjustments to reconcile net loss to net cash used in operations:
Stock-based compensation	6,012,700	3,618,668
Stock for interest	137,798	102,832
Warrants issued for conversion	2,038,000
Depreciation and amortization	197,704	192,500
Amortization of debt discount		36,836
Allowance for doubtful accounts	72,600
Changes in assets and liabilities:
Accounts receivable	(189,483)	(484,519)
Inventory	(836,310)	(77,274)
Other current assets		9,613
Accrued liabilities	1,921,402	259,727
Accrued interest	(351,025)	59,646
Accrued payroll and related	824,538	168,714
Severance obligation		43,000
Right of use assets - operating leases, net	3,893
Total adjustments to reconcile net loss to net cash used in operations:	9,831,817	3,929,743
Net cash used in operating activities	(4,092,043)	(1,284,471)
INVESTING ACTIVITIES
Machinery & equipment	(1,464,600)
Net cash used in investing activities	(1,464,600)
FINANCING ACTIVITIES
Notes payable proceeds (payments)	(1,000,000)	945,000
Due to related party	(558,658)	67,898
Purchase of treasury stock	(1,200,000)
Cash from stock sale, net of costs of $1,892,250	9,132,750	100,000
Net cash provided by financing activities	6,374,092	1,112,898
Net cash increase (decrease) for the period	817,449	(171,573)
Cash, beginning of period	88,235	261,819
Cash, end of the period	905,684	90,246
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
Non-cash investing and financing activities are as follows:
Conversion of debt to equity	6,155,000
Stock for board member services		160,000
Stock for lenders incentive		$ 58,669

ORGANIZATION AND BUSINESS ACTIV

ORGANIZATION AND BUSINESS ACTIVITY	6 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS ACTIVITY	NOTE 1 – ORGANIZATION AND BUSINESS ACTIVITY We were incorporated on September 6, 2018, in the state of Nevada for the purpose of acquiring existing technology that would efficiently and effectively produce lab-grown, environmentally friendly, ethically sourced diamonds. On January 31, 2019, we entered into an Amended Asset Purchase Agreement with Scio Diamond Technology Corporation, or Scio, which was subsequently amended February 3, 2020, pursuant to which we acquired substantially all of the assets of Scio, which assets consisted primarily of proprietary diamond growing chemical reactors, which we refer to as diamond growing machines, patents, and all intellectual property related thereto, for an aggregate of 1,500,000 2.1 million 8.65 million Since acquiring the assets of Scio, we have continued to further develop the technologies acquired from Scio, and we have begun producing diamonds for fine jewelry and diamond material for industrial uses.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying condensed 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. We incurred a net loss of $13.9 million and used approximately $4.1 million of cash in operations for the six months ended March 31, 2023. Further information related to a going concern may be obtained in NOTE 2 of the Company’s 2022 audited financial statements for the year ended September 30, 2022, and in the Going Concern Uncertainty paragraph in the Report of Independent Registered Public Accounting Firm, also contained in the above referenced financial statements. These conditions raise substantial doubt about our ability to continue as a going concern for the following year. We will need additional financing to implement our full business plan and to service our ongoing operations. There can be no assurance that we will be able to secure any needed funding, or that if such funding is available, the terms or conditions would be acceptable to us. If we are unable to obtain additional financing when it is needed, we will need to restructure our operations and possibly divest all or a portion of our business. We may seek additional capital through a combination of equity offerings and debt financings. Debt financing, if obtained, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, and could increase our expenses and require that our assets secure such debt. Equity financing, if obtained, could result in dilution to our existing stockholders and/or require such stockholders to waive certain rights and preferences. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amount and classification of liabilities or any other adjustment that might be necessary should we be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Presentation The condensed financial statements included herein have been prepared by us without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with our audited financial statements for the year ended September 30, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted as permitted by the SEC, although we believe the disclosures that are made are adequate to make the information presented herein not misleading. The accompanying condensed financial statements reflect, in our opinion, all normal recurring adjustments necessary to present fairly our financial position at March 31, 2023 and the results of our operations and cash flows for the periods presented. Interim results are subject to seasonal variations, and the results of operations for the six months ended March 31, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in preparing the financial statements include, but are not limited to, the following: collectability of accounts receivable, the potential impairment of goodwill, valuation of deferred tax assets, carrying value of inventories, useful lives and recovery of equipment and other intangible assets, and valuation of stock-based compensation. Cash and Cash Equivalents For purposes of the statements of cash flows, we consider highly liquid financial instruments purchased with a maturity of three months or less at the time of purchase to be cash equivalents. Accounts Receivable We follow the allowance method of recognizing uncollectible accounts receivable, which recognizes bad debt expense based on a review of the individual accounts outstanding and our prior history of uncollectible accounts receivable. We extend credit based on an evaluation of each customer’s financial condition, and our receivables are generally unsecured. Accounts receivable are stated net of an allowance for doubtful accounts in the balance sheet. We consider accounts past due if outstanding longer than contractual payment terms. We record an allowance based on consideration of a number of factors, including the length of time trade accounts are past due, our previous loss history, the creditworthiness of individual customers, economic conditions affecting specific customer industries, and economic conditions in general. We charge-off accounts receivable after all reasonable collection efforts have been exhausted. We credit payments subsequently received on such receivables to bad debt expense in the period we receive the payment. As of March 31, 2023, we had established an allowance of $ 355,850 Property and Equipment We recorded property and equipment purchased at cost. We compute depreciation, after equipment is placed in service, using the straight-line method at rates intended to depreciate the cost of assets over their estimated useful lives, which are generally four to ten years. Upon retirement or sale of property and equipment, we will remove the cost of the disposed assets and related accumulated depreciation from the accounts and any resulting gain or loss is credited or charged to selling, general, and administrative expenses. We charge expenditures for normal repairs and maintenance to expense as incurred. We capitalize additions and expenditures for improving or rebuilding existing assets that extend the useful life. Leasehold improvements made either at the inception of the lease or during the lease term will be amortized over the shorter of their economic lives or the lease term including any renewals that are reasonably assured. Goodwill Goodwill represents the excess of fair value over identifiable tangible and intangible net assets acquired in the Scio business combination. Goodwill is not amortized, instead goodwill is reviewed for impairment at least annually, or on an interim basis between annual tests when events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than it’s carrying value. The goodwill that arose from the Scio asset purchase agreement was independently valued at $ 5,413,000 Impairment of Long-Lived Assets We continually monitor events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, we assess the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. No impairment expense was recognized for the six months ended March 31, 2023 and 2022. Revenue Recognition We generate revenue from the sale of diamonds that have been produced or purchased. We recognize revenue according to Accounting Standards Codification 606 – Revenue from Contracts with Customers (“ASC 606”). When the customer obtains control over the promised goods or services, we record revenue in the amount of consideration that we can expect to receive in exchange for those goods. We apply the following five-step model to determine revenue recognition: ● identification of a contract with a customer; ● identification of the performance obligations in the contact; ● determination of the transaction price; ● allocation of the transaction price to the separate performance obligations; and ● recognition of revenue when performance obligations are satisfied. We only apply the five-step model when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to the customer. At contract inception and once the contract is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. Our contracts contain a single performance obligation (delivery of diamonds), and the entire transaction price is allocated to the single performance obligation. We recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Accordingly, we recognize revenue when the customer obtains control of our product, which typically occurs upon delivery of the product. Our credit terms are currently that payment is due within 120 days. In the three months ended March 31, 2023 the Company placed $630,000 in sales value on consignment with a cost value of $245,000. No revenue has been recognized on the consigned merchandise. Disaggregated Revenue Information We have no disaggregated revenue to report for the six months ended March 31, 2023 or 2022. We continue to have one primary wholesale customer. Advertising Costs We plan to expense advertising costs as they are incurred. We have incurred no advertising costs to date. Inventories We state inventories at the lower of cost or net realizable value in the following manners. We determine cost using the average cost method on all inventory generated by our manufacturing operations upon our transition from research and development in our manufacturing facility to the full production of our products for sale. We also purchase lab-grown diamonds from a vendor who cuts and polishes the majority of our manufactured diamonds as the vendor has access to other lab-grown diamonds that may supplement the inventory needed by the company or which may be unique in nature which may appeal to our customers or be used in design of our proprietary jewelry line which is under development. We carry the value of these purchased diamonds at the lower of cost or net realizable value. At March 31, 2023, our inventory consisted of finished and nearly finished precious stones in various carat sizes, shapes, and colors that we produced or purchased. At September 30, 2022, our inventory consisted primarily of finished and nearly finished precious stones in various carat sizes, shapes, and colors which we produced. Stock-Based Compensation We account for stock-based compensation at estimated fair value on the date of grant. There were 1,145,000 4,453,000 In addition, the Company issued 666,413 4.1 million 2,038,000 Black-Scholes 5 80% 3% 0% There were 850,000 3.4 million The price per share was based upon sales of our common stock near the date of grant. The grants are fully vested and are recognized upon the date of grant. Concentrations of Credit Risk Accounts at banks are insured by the Federal Deposit Insurance Corporation, or the FDIC, up to $250,000. As of March 31, 2023, our bank account balance exceeded the federally insured limit. We mitigate this exposure by using a high credit financial institution. We have one wholesale customer, representing substantially all of our accounts receivable. Income Taxes We account for income taxes under the asset and liability method in accordance with Accounting Standards Codification 740 - Income Taxes, or ASC 740. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable amounts in years in which those temporary differences are expected to be recovered or settled. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. We reflect changes in recognition or measurement in the period in which the change in judgment occurs. We currently have substantial net operating loss carryforwards. We have recorded a valuation allowance equal to the net deferred tax assets due to the uncertainty of the ultimate realization of the deferred tax assets. Contingencies Certain conditions may exist as of the date the financial statements are issued that may result in a loss to us but will only be resolved when one or more future events occur or fail to occur. We assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to potential unasserted claims that may result in legal proceedings against us, we evaluate the perceived merits of any claims and the perceived merits of the amount of relief sought or expected to be sought therein and determine if any loss is likely. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability is reasonably estimated, the estimated liability would be accrued in our financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of range of possible loss if determinable and material, would be disclosed. There were no known loss contingencies identified as of March 31, 2023. (See NOTE 6 below for additional information) Loss Per Common Share We calculate basic loss per share using the weighted average number of shares of common stock outstanding during each reporting period. Diluted loss per share includes potentially dilutive financial instruments, such as convertible term notes and related interest. We excluded 823,499 1,627,304 Recently Issued Accounting Pronouncement Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The update improves financial reporting about leasing transactions by requiring a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by lease terms of more than 12 months. We adopted ASU 2016-02 in the six months ended March 31, 2023. We completed the process of aggregating and evaluating lease arrangements and implementing new processes during the six months ended March 31, 2023. As a result of evaluating the impact of adoption of the ASU on our financial statements we recognized a right-of-use asset and lease liability on our balance sheet for our real estate operating leases. At October 1, 2022 we recognized a right of use asset of $1.4 million, and a lease liability of $1.4 million.

INVENTORIES

INVENTORIES	6 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES As of March 31, 2023 and September 30, 2022, the inventory balances were composed of finished goods and partially finished goods carried at the value of the costs associated with the manufacturing of the goods. As of March 31, 2023, $ 295,935 354,065 245,000

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 5 – PROPERTY AND EQUIPMENT Property and equipment are listed net of the related accumulated depreciation as of March 31, 2023 and September 30, 2022. As of March 31, 2023. The Company has a deposit on equipment on order in the amount of $ 1.3 million Depreciation expense for the six months ended March 31, 2023 and 2022 totaled $ 161,704 156,500

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Indemnifications During the normal course of business, we make certain indemnities and commitments under which we may be required to make payments in relation to certain transactions. These may include (i) indemnities to vendors and service providers pertaining to claims based on negligence or willful misconduct; and (ii) indemnities involving the representations and warranties in certain contracts. In addition, under our bylaws we are committed to our directors and officers for providing for payments upon the occurrence of certain prescribed events. The majority of these indemnities and commitments do not provide for any limitation on the maximum potential for future payments that we could be obligated to make. We have not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. Accordingly, we had no liabilities recorded for these agreements as of March 31, 2023 and September 30, 2022. Leases We are obligated under a triple-net operating lease for our 6,475 square foot manufacturing facility located in Greenville, South Carolina, which is classified as an operating lease. The terms of the lease require a payment of approximately $10,000 per month, which includes an estimate for utilities, taxes, and repairs. This lease expires in August 2023. We believe this facility will be adequate to meet our current needs based on the property and equipment currently owned. However, our business plan will require additional space, and we will be making plans to expand our building footprint at possible new or additional locations to accommodate additional manufacturing equipment. As part of the initial expansion discussed above, we have entered into a lease for 23,485 square feet of additional manufacturing space in Greenville, South Carolina, expiring in July 2036. In addition, we have a lease for 3,414 square feet of office space in Scottsdale, Arizona, expiring in September 2024. The office is to facilitate the administration and marketing of expanding the manufacturing aspect of our company as well as to administer increased management anticipated in areas of human resources, finance, accounting, and financial analysis as well as sales and marketing to manage the growth in the production output as a result of the second facility in Greenville, South Carolina. We intend to pay for these improvements using a combination of working capital, new debt financing, and equity offerings. The weighted average remaining lease term and weighted average discount rate for operating leases were 11.9 5.0% 156,000 The future minimum lease payment required under our leases as of March 31, 2023 are as follows: Schedule of future minimum lease payment 2023 $ 191,331 2024 178,649 2025 129,168 2026 134,060 2027 140,910 Thereafter 1,045,082 Total undiscounted cash flows 1,819,200 Less: present value discount ( 5% (447,064 ) Total lease liabilities $ 1,372,136 Employment Agreements We have entered into five separate employment agreements that provide for stock to be issued annually in varying amounts through fiscal 2025. The price per share to be included in employee stock compensation expense will be based upon the fair market value of the stock on the date of grant. The grants are fully vested, pending the service requirement of continued employment. We also have salary commitments contained in our various employment agreements through fiscal year 2025. After 2025, one salary continues to increase at 9% per year from its approximately $280,000 2025 base salary. Additional Compensation In addition to the above stock commitments, we have agreed to provide certain executive officers with compensation paid in diamonds. These commitments amount to issuing 9.5 carats of diamonds per month through September 2024 and 2.5 carats of diamonds per month through October 2025. For the six months ended March 31, 2023 and 2022 this obligation has been accrued at a valuation of $1,000 per carat, which is based on management’s estimate of the market value of the diamonds. Litigation During December 2022, we became a party to a class action filing previously between Scio and a class action investor. We have retained outside counsel specifically for this matter and are working with other defendants named in this matter to increase our chance of prevailing. On February 17, 2023 the Company filed a motion to dismiss the class action in concert with Scio which filed a separate motion to dismiss this class action. Our approach will continue to seek a dismissal on all items related to this legal action. We believe the case is without merit and will defend our position vigorously. Based on the Company’s assessment of a favorable decision by the court no liability has been recorded on our balance sheet at March 31, 2023.

NOTES PAYABLE AND CONVERTIBLE T

NOTES PAYABLE AND CONVERTIBLE TERM NOTES	6 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE AND CONVERTIBLE TERM NOTES	NOTE 7 – NOTES PAYABLE AND CONVERTIBLE TERM NOTES On December 23, 2022 we reduced the original $255,000 principal balance by $250,000 on our December 21, 2021, 10% secured promissory note with a private lender with a maturity date of March 31, 2023, with the same private lender. On March 7, 2023 we paid the remaining $5,000 and accrued interest with 20,000 shares of our common stock that were issued to the investor as payment in full for the remaining principal and accrued interest. From December 15, 2022 through January 26, 2023 the Company converted three notes of $50,000, $150,000 and $100,000 out of the seven separate investor notes totaling an aggregate of $700,000 which had origination dates ranging from May to September 2019 which contain an interest rate of 7% and mature on the second anniversary date of the respective notes. The notes were converted into 89,647 shares of common stock and 1,289 shares of common stock for accrued interest. The remaining balances outstanding at March 31, 2023, on these convertible term notes was $400,000. We have a note with a private lender, dated May 14, 2019, with an original principal balance of $100,000 and an original maturity date of September 5, 2019. The note has been re-negotiated on several occasions and has a current maturity date of December 31, 2023. Accrued interest was capped at $46,500, which can be paid in shares of our common stock valued at $4 per share. The principal balance outstanding on the note at March 31, 2023 and September 30, 2022 was $72,500. The note is unsecured.

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Mar. 31, 2023
Equity [Abstract]
CAPITAL STOCK	NOTE 8 – CAPITAL STOCK Our authorized capital consists of 100,000,000 0.001 10,000,000 0.001 As of March 31, 2023, and 2022, we had no As of March 31, 2023, there were 22,506,526 22,156,526 2,450,000 1,332,825 4,198,399 920,000 3,680,000 481,020 2,070,000 350,000 1,200,000 225,000 773,000 632,500 1,559,700 95,758 279,400

RELATED PARTY

RELATED PARTY	6 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY	NOTE 9 – RELATED PARTY Amounts due to related parties on March 31, 2023 and September 30, 2022 were $ 0 558,658 In addition, we have various employment contracts and additional compensation agreements with members of the executive team, which are discussed in Note 6 – Commitments and Contingencies. We also have payroll and related liabilities outstanding as of March 31, 2023 and September 30, 2022 that are primarily owed to our principal officers.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 – INCOME TAXES We compute income taxes using the asset and liability method in accordance with FASB ASC Topic 740, Income Taxes As of March 31, 2023 and September 30, 2022, we had federal income tax net operating loss carryforwards. We are subject to limitations existing under Internal Revenue Code Section 382 (Change of Control) relating to the availability of the operating loss, therefore utilization of a portion of our net operating loss may be limited in future years. As of March 31, 2023 and September 30, 2022 we had no Internal Revenue Service or state tax examinations. Therefore, all periods since inception are subject to audit.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 – SUBSEQUENT EVENTS The Company has issued approximately 955,000 We have analyzed our operations subsequent to the balance sheet and determined that there were no other significant subsequent events or transactions that would require recognition or disclosure in the financial statements for the six months ended March 31, 2023.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Principles of Presentation	Principles of Presentation The condensed financial statements included herein have been prepared by us without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with our audited financial statements for the year ended September 30, 2022. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted as permitted by the SEC, although we believe the disclosures that are made are adequate to make the information presented herein not misleading. The accompanying condensed financial statements reflect, in our opinion, all normal recurring adjustments necessary to present fairly our financial position at March 31, 2023 and the results of our operations and cash flows for the periods presented. Interim results are subject to seasonal variations, and the results of operations for the six months ended March 31, 2023, are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made in preparing the financial statements include, but are not limited to, the following: collectability of accounts receivable, the potential impairment of goodwill, valuation of deferred tax assets, carrying value of inventories, useful lives and recovery of equipment and other intangible assets, and valuation of stock-based compensation.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statements of cash flows, we consider highly liquid financial instruments purchased with a maturity of three months or less at the time of purchase to be cash equivalents.
Accounts Receivable	Accounts Receivable We follow the allowance method of recognizing uncollectible accounts receivable, which recognizes bad debt expense based on a review of the individual accounts outstanding and our prior history of uncollectible accounts receivable. We extend credit based on an evaluation of each customer’s financial condition, and our receivables are generally unsecured. Accounts receivable are stated net of an allowance for doubtful accounts in the balance sheet. We consider accounts past due if outstanding longer than contractual payment terms. We record an allowance based on consideration of a number of factors, including the length of time trade accounts are past due, our previous loss history, the creditworthiness of individual customers, economic conditions affecting specific customer industries, and economic conditions in general. We charge-off accounts receivable after all reasonable collection efforts have been exhausted. We credit payments subsequently received on such receivables to bad debt expense in the period we receive the payment. As of March 31, 2023, we had established an allowance of $ 355,850
Property and Equipment	Property and Equipment We recorded property and equipment purchased at cost. We compute depreciation, after equipment is placed in service, using the straight-line method at rates intended to depreciate the cost of assets over their estimated useful lives, which are generally four to ten years. Upon retirement or sale of property and equipment, we will remove the cost of the disposed assets and related accumulated depreciation from the accounts and any resulting gain or loss is credited or charged to selling, general, and administrative expenses. We charge expenditures for normal repairs and maintenance to expense as incurred. We capitalize additions and expenditures for improving or rebuilding existing assets that extend the useful life. Leasehold improvements made either at the inception of the lease or during the lease term will be amortized over the shorter of their economic lives or the lease term including any renewals that are reasonably assured.
Goodwill	Goodwill Goodwill represents the excess of fair value over identifiable tangible and intangible net assets acquired in the Scio business combination. Goodwill is not amortized, instead goodwill is reviewed for impairment at least annually, or on an interim basis between annual tests when events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than it’s carrying value. The goodwill that arose from the Scio asset purchase agreement was independently valued at $ 5,413,000
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We continually monitor events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, we assess the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, we recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. No impairment expense was recognized for the six months ended March 31, 2023 and 2022.
Revenue Recognition	Revenue Recognition We generate revenue from the sale of diamonds that have been produced or purchased. We recognize revenue according to Accounting Standards Codification 606 – Revenue from Contracts with Customers (“ASC 606”). When the customer obtains control over the promised goods or services, we record revenue in the amount of consideration that we can expect to receive in exchange for those goods. We apply the following five-step model to determine revenue recognition: ● identification of a contract with a customer; ● identification of the performance obligations in the contact; ● determination of the transaction price; ● allocation of the transaction price to the separate performance obligations; and ● recognition of revenue when performance obligations are satisfied. We only apply the five-step model when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to the customer. At contract inception and once the contract is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. Our contracts contain a single performance obligation (delivery of diamonds), and the entire transaction price is allocated to the single performance obligation. We recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Accordingly, we recognize revenue when the customer obtains control of our product, which typically occurs upon delivery of the product. Our credit terms are currently that payment is due within 120 days. In the three months ended March 31, 2023 the Company placed $630,000 in sales value on consignment with a cost value of $245,000. No revenue has been recognized on the consigned merchandise.
Disaggregated Revenue Information	Disaggregated Revenue Information We have no disaggregated revenue to report for the six months ended March 31, 2023 or 2022. We continue to have one primary wholesale customer.
Advertising Costs	Advertising Costs We plan to expense advertising costs as they are incurred. We have incurred no advertising costs to date.
Inventories	Inventories We state inventories at the lower of cost or net realizable value in the following manners. We determine cost using the average cost method on all inventory generated by our manufacturing operations upon our transition from research and development in our manufacturing facility to the full production of our products for sale. We also purchase lab-grown diamonds from a vendor who cuts and polishes the majority of our manufactured diamonds as the vendor has access to other lab-grown diamonds that may supplement the inventory needed by the company or which may be unique in nature which may appeal to our customers or be used in design of our proprietary jewelry line which is under development. We carry the value of these purchased diamonds at the lower of cost or net realizable value. At March 31, 2023, our inventory consisted of finished and nearly finished precious stones in various carat sizes, shapes, and colors that we produced or purchased. At September 30, 2022, our inventory consisted primarily of finished and nearly finished precious stones in various carat sizes, shapes, and colors which we produced.
Stock-Based Compensation	Stock-Based Compensation We account for stock-based compensation at estimated fair value on the date of grant. There were 1,145,000 4,453,000 In addition, the Company issued 666,413 4.1 million 2,038,000 Black-Scholes 5 80% 3% 0% There were 850,000 3.4 million The price per share was based upon sales of our common stock near the date of grant. The grants are fully vested and are recognized upon the date of grant.
Concentrations of Credit Risk	Concentrations of Credit Risk Accounts at banks are insured by the Federal Deposit Insurance Corporation, or the FDIC, up to $250,000. As of March 31, 2023, our bank account balance exceeded the federally insured limit. We mitigate this exposure by using a high credit financial institution. We have one wholesale customer, representing substantially all of our accounts receivable.
Income Taxes	Income Taxes We account for income taxes under the asset and liability method in accordance with Accounting Standards Codification 740 - Income Taxes, or ASC 740. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable amounts in years in which those temporary differences are expected to be recovered or settled. If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. We reflect changes in recognition or measurement in the period in which the change in judgment occurs. We currently have substantial net operating loss carryforwards. We have recorded a valuation allowance equal to the net deferred tax assets due to the uncertainty of the ultimate realization of the deferred tax assets.
Contingencies	Contingencies Certain conditions may exist as of the date the financial statements are issued that may result in a loss to us but will only be resolved when one or more future events occur or fail to occur. We assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to potential unasserted claims that may result in legal proceedings against us, we evaluate the perceived merits of any claims and the perceived merits of the amount of relief sought or expected to be sought therein and determine if any loss is likely. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability is reasonably estimated, the estimated liability would be accrued in our financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of range of possible loss if determinable and material, would be disclosed. There were no known loss contingencies identified as of March 31, 2023. (See NOTE 6 below for additional information)
Loss Per Common Share	Loss Per Common Share We calculate basic loss per share using the weighted average number of shares of common stock outstanding during each reporting period. Diluted loss per share includes potentially dilutive financial instruments, such as convertible term notes and related interest. We excluded 823,499 1,627,304
Recently Issued Accounting Pronouncement	Recently Issued Accounting Pronouncement Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The update improves financial reporting about leasing transactions by requiring a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by lease terms of more than 12 months. We adopted ASU 2016-02 in the six months ended March 31, 2023. We completed the process of aggregating and evaluating lease arrangements and implementing new processes during the six months ended March 31, 2023. As a result of evaluating the impact of adoption of the ASU on our financial statements we recognized a right-of-use asset and lease liability on our balance sheet for our real estate operating leases. At October 1, 2022 we recognized a right of use asset of $1.4 million, and a lease liability of $1.4 million.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
The future minimum lease payment required under our leases as of March 31, 2023 are as follows:	The future minimum lease payment required under our leases as of March 31, 2023 are as follows: Schedule of future minimum lease payment 2023 $ 191,331 2024 178,649 2025 129,168 2026 134,060 2027 140,910 Thereafter 1,045,082 Total undiscounted cash flows 1,819,200 Less: present value discount ( 5% (447,064 ) Total lease liabilities $ 1,372,136

ORGANIZATION AND BUSINESS ACT_2

ORGANIZATION AND BUSINESS ACTIVITY (Details Narrative) - Scio Diamond Technology Corporation [Member] - USD ($)	Feb. 03, 2020	Oct. 17, 2019
Restructuring Cost and Reserve [Line Items]
Business Combination, Consideration Transferred	$ 2,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 8,650,000
Common Stock [Member]
Restructuring Cost and Reserve [Line Items]
Business Combination, Shares Issued	1,500,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022	Aug. 07, 2019
Restructuring Cost and Reserve [Line Items]
Accounts Receivable, Allowance for Credit Loss	$ 355,850			$ 355,850
Goodwill	5,413,000			5,413,000		$ 5,413,000
Stock Issued During Period, Value, Employee Benefit Plan	$ 773,000	$ 3,680,000	$ 3,400,000	$ 4,453,000	$ 3,400,000
Debt Conversion, Converted Instrument, Warrants or Options Issued				666,413
Debt Conversion, Original Debt, Amount				$ 4,100,000
Warrants Issued		$ 2,038,000		$ 2,038,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				823,499	1,627,304
Common Stock [Member]
Restructuring Cost and Reserve [Line Items]
Stock Issued During Period, Shares, Employee Benefit Plan	225,000	920,000	850,000	1,145,000	850,000
Stock Issued During Period, Value, Employee Benefit Plan	$ 225	$ 920	$ 850
Warrants Issued
Warrant [Member]
Restructuring Cost and Reserve [Line Items]
Share-Based Goods and Nonemployee Services Transaction, Valuation Method				Black-Scholes
Share-Based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term				5 years
Share-Based Goods and Nonemployee Services Transaction, Valuation Method, Expected Volatility Rate				80%
Share-Based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate				3%
Share-Based Goods and Nonemployee Services Transaction, Valuation Method, Expected Dividend Rate				0%
Scio Diamond Technology Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Goodwill							$ 5,413,000

INVENTORIES (Details Narrative)

INVENTORIES (Details Narrative)	Mar. 31, 2023 USD ($)
Inventory Disclosure [Abstract]
Diamonds Manufactured by Company	$ 295,935
Inventory purchased from another source	354,065
Inventory Held on consignment	$ 245,000

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Deposit on Equipment Ordered, but not delivered	$ 1,300,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 161,704	$ 156,500

COMMITMENTS (Details)

COMMITMENTS (Details)	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 191,331
2024	178,649
2025	129,168
2026	134,060
2027	140,910
Thereafter	1,045,082
Total undiscounted cash flows	1,819,200
Less: present value discount (5% per annum)	$ (447,064)
Lessee, Operating Lease, Discount Rate	5%
Total lease liabilities	$ 1,372,136

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	6 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	11 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5%
Operating Lease, Cost	$ 156,000

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Stock, Shares Authorized	100,000,000			100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001			$ 0.001		$ 0.001
Preferred Stock, Shares Authorized	10,000,000			10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001			$ 0.001
Preferred Stock, Shares Issued	0		0	0	0
Preferred Stock, Shares Outstanding	0		0	0	0
Common Stock, Shares, Issued	22,506,526			22,506,526		16,369,423
Common Stock, Shares, Outstanding	22,156,526			22,156,526		16,369,423
Stock Issued During Period, Value, Conversion of Units	$ 279,400	$ 6,268,399
Stock Issued During Period, Value, Employee Benefit Plan	773,000	3,680,000	$ 3,400,000	$ 4,453,000	$ 3,400,000
Stock Repurchased During Period, Value		1,200,000
Stock Issued During Period, Value, Issued for Services	$ 1,559,700
IPO [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Value, Conversion of Units		4,198,399
Note Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Value, Conversion of Units		$ 2,070,000
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues		2,450,000	25,000
Stock Issued During Period, Shares, Conversion of Units	95,758	1,813,845
Stock Issued During Period, Value, Conversion of Units	$ 95	$ 1,814
Stock Issued During Period, Shares, Employee Benefit Plan	225,000	920,000	850,000	1,145,000	850,000
Stock Issued During Period, Value, Employee Benefit Plan	$ 225	$ 920	$ 850
Stock Repurchased During Period, Shares		350,000
Stock Repurchased During Period, Value
Stock Issued During Period, Shares, Issued for Services	632,500
Stock Issued During Period, Value, Issued for Services	$ 632
Common Stock [Member] | IPO [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Conversion of Units		1,332,825
Common Stock [Member] | Note Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Conversion of Units		481,020

RELATED PARTY (Details Narrativ

RELATED PARTY (Details Narrative) - USD ($)	Mar. 31, 2023	Sep. 30, 2022
Related Party Transactions [Abstract]
Due to related party - notes payable	$ 0	$ 558,658

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Common Stock [Member] - shares	1 Months Ended	3 Months Ended
	May 10, 2023	Dec. 31, 2022	Mar. 31, 2022
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues		2,450,000	25,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	955,000