CEL-SCI (CVM) 10-Q 14 Feb 25 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2024	Feb. 10, 2025
Cover [Abstract]
Entity Registrant Name	CEL-SCI CORPORATION
Entity Central Index Key	0000725363
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Common Stock Shares Outstanding		77,211,541
Entity File Number	1-11889
Entity Incorporation State Country Code	CO
Entity Tax Identification Number	84-0916344
Entity Address Address Line 1	8229 Boone Boulevard
Entity Address Address Line 2	Suite 802
Entity Address City Or Town	Vienna
Entity Address State Or Province	VA
Entity Address Postal Zip Code	22182
City Area Code	703
Local Phone Number	506-9460
Security 12b Title	Common Stock
Trading Symbol	CVM
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Dec. 31, 2024	Sep. 30, 2024
Current assets:
Cash and cash equivalents	$ 4,614,115	$ 4,738,173
Prepaid expenses	373,069	294,097
Supplies used for R&D and manufacturing	863,104	1,019,908
Deposits	7,500	3,500
Total current assets	5,857,788	6,055,678
Finance lease right-of-use assets	6,899,819	7,350,364
Operating lease right-of-use assets	1,442,619	1,495,937
Property and equipment, net	7,592,663	8,129,753
Patent costs, net	148,394	165,492
Deposits	2,319,101	2,319,101
Supplies used for R&D and manufacturing	1,438,403	1,475,441
Total assets	25,698,787	26,991,766
Current liabilities:
Accounts payable	1,999,214	1,448,467
Accrued expenses	621,601	566,042
Due to employees	558,103	363,306
Finance lease obligation, current portion	2,074,490	2,010,995
Operating lease obligation, current portion	226,155	226,969
Total current liabilities	5,479,563	4,615,779
Finance lease obligations, net of current portion	7,412,252	7,957,925
Operating lease obligations, net of current portion	1,373,340	1,425,979
Other liabilities	125,000	125,000
Total liabilities	14,390,155	14,124,683
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; 200,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock, $0.01 par value; 600,000,000 shares authorized; 74,084,041 and 63,787,104 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively	730,839	637,870
Additional paid-in capital	531,662,716	526,241,074
Accumulated deficit	(521,084,923)	(514,011,861)
Total stockholders' equity	11,308,632	12,867,083
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 25,698,787	$ 26,991,766

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Sep. 30, 2024
CONDENSED BALANCE SHEETS
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000	200,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	74,084,041	63,787,104
Common stock, shares outstanding	74,084,041	63,787,104

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating expenses:
Research and development	$ 4,430,063	$ 4,352,509
General and administrative	2,463,355	2,133,378
Total operating expenses	6,893,418	6,485,887
Operating loss	(6,893,418)	(6,485,887)
Interest expense, net	(170,103)	(197,696)
Other expense	(9,541)	(25,941)
Net loss	(7,073,062)	(6,709,524)
Net loss available to common shareholders	$ (7,073,062)	$ (6,709,524)
Net loss per common share - basic and diluted	$ (0.11)	$ (0.14)
Weighted average common shares outstanding - basic and diluted	65,325,855	48,470,600

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Sep. 30, 2023		47,422,304
Balance, amount at Sep. 30, 2023	$ 13,214,890	$ 474,223	$ 499,832,063	$ (487,091,396)
401(k) contributions paid in common stock, shares		17,724
401(k) contributions paid in common stock, amount	48,907	$ 177	48,730	0
Stock issued to nonemployees for service, shares		88,573
Stock issued to nonemployees for service, amount	202,307	$ 886	201,421	0
Proceeds from the sale of common stock, shares		2,490,000
Proceeds from the sale of common stock, amount	4,980,000	$ 24,900	4,955,100	0
Equity based compensation - employees, amount	1,383,909	0	1,383,909	0
Share issuance costs	(470,229)	0	(470,229)	0
Net Income (Loss)	(6,709,524)	$ 0	0	(6,709,524)
Balance, shares at Dec. 31, 2023		50,018,601
Balance, amount at Dec. 31, 2023	12,650,260	$ 500,186	505,950,994	(493,800,920)
Balance, shares at Sep. 30, 2024		63,787,104
Balance, amount at Sep. 30, 2024	12,867,083	$ 637,870	526,241,074	(514,011,861)
401(k) contributions paid in common stock, shares		142,822
401(k) contributions paid in common stock, amount	57,134	$ 1,428	55,706
Stock issued to nonemployees for service, shares		154,615
Stock issued to nonemployees for service, amount	$ 396,087	$ 1,546	394,541
Proceeds from the sale of common stock, shares	7,552,500	7,552,500
Proceeds from the sale of common stock, amount	$ 5,000,300	$ 75,525	4,924,775
Equity based compensation - employees, amount	711,381	(30)	711,411
Share issuance costs	(650,291)	0	(650,291)	0
Net Income (Loss)	(7,073,062)	$ 0	0	(7,073,062)
Pre-funded warrant exercises, shares		1,450,000
Pre-funded warrant exercises, amount		$ 14,500	(14,500)
Equity based compensation - employees, shares		(3,000)
Balance, shares at Dec. 31, 2024		73,084,041
Balance, amount at Dec. 31, 2024	$ 11,308,632	$ 730,839	$ 531,662,716	$ (521,084,923)

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
Net loss	$ (7,073,062)	$ (6,709,524)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	995,192	1,004,633
Non-cash lease expense	135	2,504
Share-based payments for services	396,839	218,386
Equity based compensation	711,381	1,383,909
Common stock contributed to 401(k) plan	57,133	48,907
Loss on patent impairment	9,541	0
(Increase)/decrease in assets:
Prepaid expenses	79,724	100,546
Supplies used for R&D and manufacturing	193,842	(98,765)
Deposits	(4,000)	(11,884)
Increase/(decrease) in liabilities:
Accounts payable	473,514	(765,078)
Accrued expenses	(15,291)	(8,924)
Due to employees	194,797	148,454
Net cash used in operating activities	(4,139,973)	(4,887,928)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(32,954)	(51,650)
Expenditures for patent costs		(13,211)
Net cash used in investing activities	(32,954)	(64,861)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock and pre-funded warrants	5,000,300	4,980,000
Payments of stock issuance costs	(469,020)	(504,913)
Payments on obligations under finance leases	(482,411)	(426,593)
Net cash provided by financing activities	4,048,869	4,048,494
NET DECREASE IN CASH AND CASH EQUIVALENTS	(124,058)	(904,295)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	4,738,173	4,145,735
CASH AND CASH EQUIVALENTS, END OF PERIOD	4,614,115	3,241,440
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Finance lease obligation included in accounts payable	1,087	714
Consulting services paid with issuance of common stock	396,087	202,307
Financing costs included in current liabilities	220,220	43,019
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:
Cash paid for interest	$ 207,735	$ 244,659

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2024
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	A. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed financial statements of CEL-SCI Corporation (the “Company”) are unaudited and certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission. While management of the Company believes that the disclosures presented are adequate to make the information presented not misleading, these interim condensed financial statements should be read in conjunction with the financial statements and notes included in the Company’s annual report on Form 10-K for the year ended September 30, 2024. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments (all of which are of a normal recurring nature) and disclosures necessary for a fair presentation of the Company’s financial position as of December 31, 2024 and the results of its operations for the three months then ended. The condensed balance sheet as of September 30, 2024 is derived from the September 30, 2024 audited financial statements. Due to recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Refer to discussion in Note B. Summary of Significant Accounting Policies: Cash and Cash Equivalents Property and Equipment Supplies used for R&D and manufacturing – Patents Leases – Share-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. These Plans are collectively referred to as the “Plans”. All Plans have been approved by the Company’s stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. For options issued with service conditions only, the Company has based its assumption for stock price volatility on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption is based on the U.S. Treasury rate at the date of grant with the term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, share-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Restricted stock granted under the Incentive Stock Bonus Plan and options granted under the Non-Qualified Stock Option Plans are subject to service, performance and market conditions and meet the classification of equity awards. These awards were measured at fair value on the grant dates using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period. Research and Development Costs Net Loss Per Common Share Earnings Per Share Concentration of Credit Risk Income Taxes Income Taxes Impairment of long-lived assets Fair Value Measurements - Fair Value Measurements ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to active markets for identical assets and liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The Company classifies fair value balances based on the observability of those inputs. The three levels of the fair value hierarchy are as follows: · Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities · Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and amounts derived from valuation models where all significant inputs other than quoted prices that are observable for the asset or liability are observable in active markets · Level 3 – Unobservable inputs that reflect management’s assumptions For disclosure purposes, assets and liabilities are classified in their entirety in the fair value hierarchy level based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. The Company’s money market funds included in cash equivalents are valued using Level 1 inputs and measured at fair value on a recurring basis. The cost of the Company’s money market funds approximated their fair value at $1,000 and $3,480,000 as of December 31, 2024 and September 30, 2024, respectively. Use of Estimates New Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures (“ASU 2023-07”), In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Improvements to Income Tax Disclosures, which require greater disaggregation of income tax disclosures related to the income tax rate reconciliation and income taxes paid. The update will be effective for annual periods beginning after December 15, 2024. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that this change will have on the Company's disclosures. In March 2024, the SEC issued its final climate disclosure rules, which require the disclosure of climate-related information in annual reports and registration statements. The rules require disclosure in the audited financial statements of certain effects of severe weather events and other natural conditions above certain financial thresholds, as well as amounts related to carbon offsets and renewable energy credits or certificates, if material. Under the rules as originally issued, disclosure requirements begin phasing in for fiscal years beginning on or after January 1, 2027. However, on April 4, 2024, the SEC determined to voluntarily stay the final rules pending certain legal challenges. We are currently evaluating the impact of new rules and continue to monitor the status of the related legal challenges. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

LIQUIDITY

LIQUIDITY	3 Months Ended
	Dec. 31, 2024
LIQUIDITY
LIQUIDITY	B. LIQUIDITY The Company has incurred significant costs since its inception for the acquisition of certain proprietary technology and scientific knowledge relating to the human immunological defense system, patent applications, research and development, administrative costs, construction and expansion of manufacturing and laboratory facilities and conducting clinical trials. The Company has funded such costs primarily with proceeds from loans and the public and private sale of its securities. The Company will be required to raise additional capital or find additional long-term financing to continue with its efforts to bring Multikine, the Company’s lead investigational therapy, to market. The ability to raise capital may be dependent upon market conditions that are outside the control of the Company. The ability of the Company to obtain approval from any regulatory agency for the sale of products to be developed on a commercial basis is uncertain. Ultimately, the Company must complete the development of its products, obtain the appropriate regulatory approvals and obtain sufficient revenues to support its cost structure. To finance the Company through marketing approval, the Company plans to raise additional capital in the form of corporate partnerships, and debt and/or equity financings. The Company believes that it will be able to obtain additional financing because it has done so consistently in the past and because Multikine showed great survival benefit in the Phase 3 study in one of the two treatment arms for advanced primary head and neck cancer. However, there can be no assurance that the Company will be successful in raising additional funds on a timely basis or that the funds will be available to the Company on acceptable terms or at all. If the Company does not raise the necessary amounts of money, it may have to curtail its operations until such time as it is able to raise the required funding. Due to the Company’s recurring losses from operations and future liquidity needs, there is substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	Dec. 31, 2024
STOCKHOLDERS EQUITY
STOCKHOLDERS' EQUITY	C. STOCKHOLDERS’ EQUITY Proceeds from the Sale of Common Stock In December 2024, the Company sold 7,552,500 shares of common stock at a public offering price of $0.31 per share and pre-funded warrants to purchase up to 8,577,500 shares of common stock, at an offering price of $0.3099 per pre-funded warrant, for proceeds of approximately $4.4 million, net of issuance costs of approximately $0.6 million. As of December 31, 2024, none of the pre-funded warrants in connection with the December 2024 offering have been exercised. The Company determined that the pre-funded warrants sold in the December 2024 offering are freestanding financial instruments because they are both legally detachable and separately exercisable from the common stock sold in the offering. As such, the Company evaluated the pre-funded warrants to determine whether they represent instruments that require liability classification pursuant to the guidance in ASC 480. However, the Company concluded that the pre-funded warrants are not a liability within the scope of ASC 480 due to their characteristics. Further, the Company determined that the pre-funded warrants do not meet the definition of a derivative under ASC 815. Accordingly, the Company assessed the pre-funded warrants relative to the guidance in ASC No. 815-40, Contracts in Entity’s Own Equity, to determine the appropriate treatment. The Company concluded that the pre-funded warrants are both indexed to its own stock and meet all other conditions for equity classification. Accordingly, the Company has classified the pre-funded warrants as permanent equity and recorded them as a component of additional paid-in capital upon the closing of the transaction in December 2024. In November 2023, the Company sold 2,490,000 shares of common stock at a public offering price of $2.00 per share and received proceeds of approximately $4.5 million, net of issuance costs of approximately $0.5 million. Other Equity Transactions In October 2024, the Company entered into a Securities Purchase Agreement with Ergomed Group Limited (“Ergomed”) pursuant to which the Company issued 1,000,000 shares of common stock in exchange for services. The shares are legally issued and outstanding. The Company determined the issuance of shares to a non-employee for services rendered or to be rendered is within the scope of ASC 718. In accordance with ASC 718, the shares are not issued and outstanding for accounting purposes as they are unvested and forfeitable. The shares will be recognized on the settlement date and measured at fair value when the shares are settled for services rendered by Ergomed. The Company incurred share issuance costs of approximately $61,000 to issue the shares from this agreement which were immediately expensed. Equity Compensation Underlying share information for equity compensation plans as of December 31, 2024 is as follows: Name of Plan Total Shares Reserved Under Plans Incentive Stock Option Plans 138,400 Non-Qualified Stock Option Plans 17,787,200 Stock Bonus Plans 1,283,760 Stock Compensation Plans 634,000 Incentive Stock Bonus Plan 640,000 Stock Option Activity Three Months Ended December 31, 2024 2023 Options granted 502,500 - Options exercised - - Options forfeited 15,833 11,000 Options expired 40 - Share-Based Compensation Expense: Three Months Ended December 31, 2024 2023 Employees $ 711,381 $ 1,383,909 Non-employees $ 396,839 $ 218,386 Employee compensation expense includes the expense related to options and restricted stock that is expensed over the vesting periods. Non-employee expense includes the expense related to options and stock issued to consultants expensed over the period of the related service contracts. Warrants and Non-Employee Options The following chart represents the warrants and non-employee options outstanding at December 31, 2024: Warrant/ Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2026 Series UU 6/11/2018 93,603 $ 2.80 6/30/2026 Series X 1/13/2016 120,000 $ 9.25 7/13/2026 Series Y 2/15/2016 26,000 $ 12.00 8/15/2026 Series MM 6/22/2017 333,432 $ 1.86 6/22/2026 Series NN 7/24/2017 200,087 $ 2.52 7/24/2026 Series RR 10/30/2017 234,009 $ 1.65 10/30/2026 Pre-Funded 12/31/2024 8,577,500 $ 0.0001 N/A Consultant Options 7/28/2017 – 11/19/2024 610,000 $ 0.70 - $2.18 7/27/2027 - 11/1/2034 1. Equity Warrants Changes in Equity Warrants During the three months ended December 31, 2024, 8,577,500 pre-funded warrants at an offering price of $0.3099 were issued. No pre-funded warrants or warrants recorded as equity were issued during the three months ended December 31, 2023. During the three months ended December 31, 2024, 1,450,000 pre-funded warrants were exercised. No pre-funded warrants or warrants recorded as equity were exercised during the three months ended December 31, 2023. No warrants recorded as equity expired or were extended during the three months ended December 31, 2024 and 2023. 2. Options and Shares Issued to Consultants During the three months ended December 31, 2024 and 2023, the Company issued 154,615 and 88,573 shares, respectively, of restricted common stock to consultants for services. The weighted average grant date fair value of the shares issued to consultants was $0.85 and $1.56 during the three months ended December 31, 2024 and 2023, respectively. During the three months ended December 31, 2024, 500,000 options with an exercise price of $0.70 were issued to a consultant. The options vest immediately and will expire on November 1, 2034. No options were issued to a consultant during the three months ended December 31, 2023. During the three months ended December 31, 2024 and 2023, the Company recorded total expense of approximately $397,000 and $218,000, respectively, relating to the share-based compensation under various consulting agreements. On December 31, 2024 and September 30, 2024, consulting fees of approximately $51,000 and $52,000, respectively, are included in current assets as prepaid expenses and will be amortized over the remaining service periods.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2024
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	D. RELATED PARTY TRANSACTIONS There were no related party transactions during the three months ended December 31, 2024 and 2023.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2024
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	E. COMMITMENTS AND CONTINGENCIES Clinical Research Agreements In August 2024 the Company entered into an agreement, pursuant to which the Company engaged Ergomed Clinical Research, Inc. to provide clinical development services related to the Company’s upcoming confirmatory registration study in exchange for fees. Since the Company entered into this agreement it has incurred research and development expenses of approximately $0.7 million as of December 31, 2024. Lease Agreements The Company leases a manufacturing facility near Baltimore, Maryland (the San Tomas lease). The building was remodeled in accordance with the Company’s specifications so that it can be used by the Company to manufacture Multikine for the Company’s Phase III clinical trial and sales of the drug if approved by the FDA or regulators in Canada, the UK or Europe. The lease is for a term of twenty years and requires annual base rent to escalate each year at 3%. The Company is required to pay all real estate and personal property taxes, insurance premiums, maintenance expenses, repair costs and utilities. The lease allows the Company, at its election, to extend the lease for two ten-year periods or to purchase the building at the end of the 20-year lease, which expires in October 2028. The renewal options are not included in the calculation of the right-of-use asset and lease liability because exercise of those options is not reasonably certain. As of December 31, 2024 and September 30, 2024, respectively, the net book value of the finance lease right-of-use asset is approximately $6.9 million and $7.4 million and the balance of the finance lease liability is approximately $9.5 million and $10.0 million, of which approximately $2.1 million and $2.0 million is current. These amounts include the San Tomas lease as well as several other smaller finance leases for office equipment. During the three months ended December 31, 2024 and 2023, the finance right-of-use assets are being depreciated using a straight-line method over the underlying lease terms and depreciation expense totaled approximately $0.5 million in both periods, which is included in research and development expense on the accompanying condensed statements of operations. Total cash paid related to finance leases during the three months ended December 31, 2024 and 2023, was approximately $0.7 million for both periods, of which approximately $0.2 million was for interest. The total cash paid related to finance lease principal payments is included in cash flows from financing activities on the accompanying condensed statements of cash flows. The total cash paid related to finance lease interest expense is included in cash flows from operating activities on the accompanying condensed statements of cash flows. As of December 31, 2024, the weighted average discount rate of the Company’s finance leases is 8.46% and the weighted average remaining lease term is 3.83 years. During the three months ended December 31, 2024 and 2023, total finance lease costs were approximately $0.7 million, consisting of approximately $0.5 million of lease asset amortization and approximately $0.2 million of interest on the finance lease liabilities for both periods. Variable lease expenses, such as maintenance costs, utilities, and real property taxes are not included in right-of-use assets or lease liabilities but rather are expensed as incurred. During the three months ended December 31, 2024, there were approximately $0.3 million of variable finance lease costs, which are included in research and development expense on the accompanying condensed statements of operations. On January 11, 2023, the Company was required to deposit approximately $2.3 million to its landlord, equivalent to one year’s rent, for falling below the stipulated cash threshold in accordance with the San Tomas lease. The amount will be included as an asset on the balance sheet until the Company meets the minimum cash balance required and the deposit is returned. Approximate future minimum lease payments under finance leases as of December 31, 2024 are as follows: Nine months ending September 30, 2025 $ 2,065,000 Year ending September 30, 2026 2,838,000 2027 2,929,000 2028 3,021,000 2029 255,000 2030 - Total future minimum lease obligation 11,108,000 Less imputed interest on finance lease obligations (1,622,000 ) Net present value of financing lease obligations 9,486,000 Less net present value of financing lease obligations – current portion (2,074,000 ) Net present value of financing lease obligations - non-current portion $ 7,412,000 The Company leases two facilities under operating leases. The lease for the Company’s office headquarters will expire on November 30, 2025. The lease for its research and development laboratory will expire on February 29, 2032. The operating leases include escalating rental payments. The Company is recognizing the related rent expense on a straight-line basis over the terms of the leases. As of December 31, 2024 and September 30, 2024, respectively, the net book value of the operating lease right-of-use asset is approximately $1.4 million and $1.5 million and the balance of the operating lease liability is approximately $1.6 million and $1.7 million, of which approximately $0.2 million is current in both periods. During the three months ended December 31, 2024 and 2023, the Company incurred lease expense under operating leases of approximately $0.1 million in both periods, which is included in general and administrative expense on the accompanying condensed statements of operations. Total cash paid related to operating leases during the three months ended December 31, 2024 and 2023 was approximately $0.1 million for both periods. The total cash paid related to operating leases is included in cash flows from operating activities on the accompanying condensed statements of cash flows. The weighted average discount rate of the Company’s operating leases is 8.98% and the weighted average the remaining lease term is 6.81 years. As of December 31, 2024, approximate future minimum lease payments on operating leases are as follows: Nine months ending September 30, 2025 $ 276,000 Year ending September 30, 2026 287,000 2027 277,000 2028 285,000 2029 294,000 2030 303,000 Thereafter 443,000 Total future minimum lease obligation 2,165,000 Less imputed interest on operating lease obligation (566,000 ) Net present value of operating lease obligations 1,599,000 Less net present value of operating lease obligations - current portion (226,000 ) Net present value of operating lease obligations - non-current portion $ 1,373,000

PATENTS

PATENTS	3 Months Ended
	Dec. 31, 2024
PATENTS
PATENTS	G. PATENTS During the three months ended December 31, 2024, the Company abandoned three patents which resulted in an impairment of $9,541 on patent costs. During the three months ended December 31, 2023, there was no impairment of patent costs. The weighted average amortization period for patents is approximately 7 years. For the three months ended December 31, 2024 and 2023, amortization of patent costs totaled approximately $8,000 and $9,000, respectively. The total estimated future amortization is as follows: Nine months ending September 30, 2025 $ 21,000 Year ending September 30, 2026 25,000 2027 22,000 2028 18,000 2029 16,000 2030 14,000 Thereafter 32,000 Total $ 148,000

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	3 Months Ended
	Dec. 31, 2024
LOSS PER COMMON SHARE
LOSS PER COMMON SHARE	H. LOSS PER COMMON SHARE Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the treasury stock method. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants, unvested common stock and unvested restricted stock are not included in the computation of diluted net loss per share if their effect would be anti-dilutive. The calculation of basic and diluted net loss per share includes 8,577,500 of the pre-funded warrants that remain outstanding as of December 31, 2024. The following table provides a reconciliation of the numerators and denominators of the basic and diluted loss per-share computations: Three Months Ended December 31, 2024 2023 Loss per share – basic and diluted Net loss available to common shareholders – basic and diluted $ (7,073,062 ) $ (6,709,524 ) Weighted average shares outstanding – basic and diluted 65,325,855 48,470,600 Basic and diluted loss per common share $ (0.11 ) $ (0.14 ) In accordance with the contingently issuable shares guidance of ASC 260, Earnings Per Share 2024 2023 Options and Warrants 17,837,177 15,839,028 Unvested Common Stock 1,000,000 - Unvested Restricted Stock 144,250 147,250 Total 18,981,427 15,986,278

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Dec. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	J. SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date these financial statements were filed and determined there are no subsequent events that require disclosure.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Cash and Cash Equivalents	Cash and Cash Equivalents
Property and Equipment	Property and Equipment
Supplies used for R&D and manufacturing	Supplies used for R&D and manufacturing –
Patents	Patents
Leases	Leases –
Stock-Based Compensation	Share-Based Compensation Compensation – Stock Compensation The Company has Incentive Stock Option Plans, Non-Qualified Stock Option Plans, Stock Compensation Plans, Stock Bonus Plans and an Incentive Stock Bonus Plan. These Plans are collectively referred to as the “Plans”. All Plans have been approved by the Company’s stockholders. The Company’s stock options are not transferable, and the actual value of the stock options that an employee may realize, if any, will depend on the excess of the market price on the date of exercise over the exercise price. For options issued with service conditions only, the Company has based its assumption for stock price volatility on the variance of daily closing prices of the Company’s stock. The risk-free interest rate assumption is based on the U.S. Treasury rate at the date of grant with the term equal to the expected life of the option. Forfeitures are accounted for when they occur. The expected term of options represents the period that options granted are expected to be outstanding and has been determined based on an analysis of historical exercise behavior. If any of the assumptions used in the Black-Scholes model change significantly, share-based compensation expense for new awards may differ materially in the future from that recorded in the current period. Restricted stock granted under the Incentive Stock Bonus Plan and options granted under the Non-Qualified Stock Option Plans are subject to service, performance and market conditions and meet the classification of equity awards. These awards were measured at fair value on the grant dates using a Monte Carlo simulation for issuances where the attainment of performance criteria is uncertain. The total compensation cost will be expensed over the estimated requisite service period.
Research and Development Costs	Research and Development Costs
Net Loss Per Common Share	Net Loss Per Common Share Earnings Per Share
Concentration of Credit Risk	Concentration of Credit Risk
Income Taxes	Income Taxes Income Taxes
Impairment of long-lived assets	Impairment of long-lived assets
Fair Value Measurements	Fair Value Measurements - Fair Value Measurements ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to active markets for identical assets and liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The Company classifies fair value balances based on the observability of those inputs. The three levels of the fair value hierarchy are as follows: · Level 1 – Observable inputs such as quoted prices in active markets for identical assets or liabilities · Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and amounts derived from valuation models where all significant inputs other than quoted prices that are observable for the asset or liability are observable in active markets · Level 3 – Unobservable inputs that reflect management’s assumptions For disclosure purposes, assets and liabilities are classified in their entirety in the fair value hierarchy level based on the lowest level of input that is significant to the overall fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement within the fair value hierarchy levels. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. The Company’s money market funds included in cash equivalents are valued using Level 1 inputs and measured at fair value on a recurring basis. The cost of the Company’s money market funds approximated their fair value at $1,000 and $3,480,000 as of December 31, 2024 and September 30, 2024, respectively.
Use of Estimates	Use of Estimates
New Accounting Pronouncements	In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures (“ASU 2023-07”), In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Improvements to Income Tax Disclosures, which require greater disaggregation of income tax disclosures related to the income tax rate reconciliation and income taxes paid. The update will be effective for annual periods beginning after December 15, 2024. The guidance should be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that this change will have on the Company's disclosures. In March 2024, the SEC issued its final climate disclosure rules, which require the disclosure of climate-related information in annual reports and registration statements. The rules require disclosure in the audited financial statements of certain effects of severe weather events and other natural conditions above certain financial thresholds, as well as amounts related to carbon offsets and renewable energy credits or certificates, if material. Under the rules as originally issued, disclosure requirements begin phasing in for fiscal years beginning on or after January 1, 2027. However, on April 4, 2024, the SEC determined to voluntarily stay the final rules pending certain legal challenges. We are currently evaluating the impact of new rules and continue to monitor the status of the related legal challenges. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

STOCKHOLDERS EQUITY (Tables)

STOCKHOLDERS EQUITY (Tables)	3 Months Ended
	Dec. 31, 2024
STOCKHOLDERS EQUITY
Schedule of equity compensation plans	Name of Plan Total Shares Reserved Under Plans Incentive Stock Option Plans 138,400 Non-Qualified Stock Option Plans 17,787,200 Stock Bonus Plans 1,283,760 Stock Compensation Plans 634,000 Incentive Stock Bonus Plan 640,000
Schedule of Stock option activity	Three Months Ended December 31, 2024 2023 Options granted 502,500 - Options exercised - - Options forfeited 15,833 11,000 Options expired 40 -
Schedule of Stock-Based Compensation Expense	Three Months Ended December 31, 2024 2023 Employees $ 711,381 $ 1,383,909 Non-employees $ 396,839 $ 218,386
Schedule of warrants and non-employee options outstanding	Warrant/ Options Issue Date Shares Issuable upon Exercise of Warrants/ Options Exercise Price Expiration Date Series N 8/18/2008 85,339 $ 3.00 8/18/2026 Series UU 6/11/2018 93,603 $ 2.80 6/30/2026 Series X 1/13/2016 120,000 $ 9.25 7/13/2026 Series Y 2/15/2016 26,000 $ 12.00 8/15/2026 Series MM 6/22/2017 333,432 $ 1.86 6/22/2026 Series NN 7/24/2017 200,087 $ 2.52 7/24/2026 Series RR 10/30/2017 234,009 $ 1.65 10/30/2026 Pre-Funded 12/31/2024 8,577,500 $ 0.0001 N/A Consultant Options 7/28/2017 – 11/19/2024 610,000 $ 0.70 - $2.18 7/27/2027 - 11/1/2034

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Dec. 31, 2024
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum payments under finance leases	Nine months ending September 30, 2025 $ 2,065,000 Year ending September 30, 2026 2,838,000 2027 2,929,000 2028 3,021,000 2029 255,000 2030 - Total future minimum lease obligation 11,108,000 Less imputed interest on finance lease obligations (1,622,000 ) Net present value of financing lease obligations 9,486,000 Less net present value of financing lease obligations – current portion (2,074,000 ) Net present value of financing lease obligations - non-current portion $ 7,412,000
Schedule of future minimum payments under operating leases	Nine months ending September 30, 2025 $ 276,000 Year ending September 30, 2026 287,000 2027 277,000 2028 285,000 2029 294,000 2030 303,000 Thereafter 443,000 Total future minimum lease obligation 2,165,000 Less imputed interest on operating lease obligation (566,000 ) Net present value of operating lease obligations 1,599,000 Less net present value of operating lease obligations - current portion (226,000 ) Net present value of operating lease obligations - non-current portion $ 1,373,000

PATENTS (Tables)

PATENTS (Tables)	3 Months Ended
	Dec. 31, 2024
PATENTS
Schedule of total estimated future amortization	Nine months ending September 30, 2025 $ 21,000 Year ending September 30, 2026 25,000 2027 22,000 2028 18,000 2029 16,000 2030 14,000 Thereafter 32,000 Total $ 148,000

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Dec. 31, 2024
LOSS PER COMMON SHARE
Schedule of reconciliation of the numerators and denominators of the basic and diluted per-share computations	Three Months Ended December 31, 2024 2023 Loss per share – basic and diluted Net loss available to common shareholders – basic and diluted $ (7,073,062 ) $ (6,709,524 ) Weighted average shares outstanding – basic and diluted 65,325,855 48,470,600 Basic and diluted loss per common share $ (0.11 ) $ (0.14 )
Schedule of anti-dilutive securities	2024 2023 Options and Warrants 17,837,177 15,839,028 Unvested Common Stock 1,000,000 - Unvested Restricted Stock 144,250 147,250 Total 18,981,427 15,986,278

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Dec. 31, 2024	Sep. 30, 2024
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Fair Value of Financial Instruments	$ 1,000	$ 3,480,000
Concentration Risk, Credit Risk, Financial Instruments	$ 250,000

STOCKHOLDERS EQUITY (Details)

STOCKHOLDERS EQUITY (Details)	Dec. 31, 2024 shares
Incentive Stock Bonus Plan [Member]
Remaining Options/shares Under Plans	640,000
Non-Qualified Stock Option Plans [Member]
Remaining Options/shares Under Plans	17,787,200
Stock Bonus Plans [Member]
Remaining Options/shares Under Plans	1,283,760
Stock Compensation Plan [Member]
Remaining Options/shares Under Plans	634,000
Incentive Stock Bonus Plan [Member]
Remaining Options/shares Under Plans	138,400

STOCKHOLDERS EQUITY (Details 1)

STOCKHOLDERS EQUITY (Details 1) - shares	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
STOCKHOLDERS EQUITY
Options Granted	502,500	0
Option Exercised	0	0
Options Forfeited	15,833	11,000
Options Expired	40	0

STOCKHOLDERS EQUITY (Details 2)

STOCKHOLDERS EQUITY (Details 2) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Employees
Stock Based Compensation Expense	$ 711,381	$ 1,383,909
Non-employees
Stock Based Compensation Expense	$ 396,839	$ 218,386

STOCKHOLDERS EQUITY (Details 3)

STOCKHOLDERS EQUITY (Details 3)	3 Months Ended
	Dec. 31, 2024 $ / shares shares
Pre-Funded [Member]
Issue Date	12/31/2024
Shares Issuable Upon Exercise Of Warrant/options | shares	8,577,500
Exercise Price	$ 0.0001
Series N [Member]
Issue Date	8/18/2008
Shares Issuable Upon Exercise Of Warrant/options | shares	85,339
Exercise Price	$ 3
Expiration Date	8/18/2026
Series UU [Member]
Issue Date	6/11/2018
Shares Issuable Upon Exercise Of Warrant/options | shares	93,603
Exercise Price	$ 2.80
Expiration Date	6/30/2026
Series X [Member]
Issue Date	1/13/2016
Shares Issuable Upon Exercise Of Warrant/options | shares	120,000
Exercise Price	$ 9.25
Expiration Date	7/13/2026
Series Y [Member]
Issue Date	2/15/2016
Shares Issuable Upon Exercise Of Warrant/options | shares	26,000
Exercise Price	$ 12
Expiration Date	8/15/2026
Series MM [Member]
Issue Date	6/22/2017
Shares Issuable Upon Exercise Of Warrant/options | shares	333,432
Exercise Price	$ 1.86
Expiration Date	6/22/2026
Series NN [Member]
Issue Date	7/24/2017
Shares Issuable Upon Exercise Of Warrant/options | shares	200,087
Exercise Price	$ 2.52
Expiration Date	7/24/2026
Series RR [Member]
Issue Date	10/30/2017
Shares Issuable Upon Exercise Of Warrant/options | shares	234,009
Exercise Price	$ 1.65
Expiration Date	10/30/2026
Consultants Options [Member]
Shares Issuable Upon Exercise Of Warrant/options | shares	610,000
Bottom [Member] | Consultants [Member]
Issue Date	7/28/2017
Exercise Price	$ 0.70
Expiration Date	7/27/2027
Top [Member] | Consultants [Member]
Issue Date	11/19/2024
Exercise Price	$ 2.18
Expiration Date	11/1/2034

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Dec. 31, 2024	Oct. 18, 2024	Nov. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Oct. 31, 2024	Sep. 30, 2024
Shares issued				7,552,500
Common stock shares issued	74,084,041			74,084,041			63,787,104
Public offering price	$ 0.31		$ 2	$ 0.31
Proceeds from issuance of common stock	$ 4,400,000		$ 4,500,000	$ 5,000,300	$ 4,980,000
Net of issuance costs	600,000		$ 500,000
Consulting Agreements [Member]
Exercise price				$ 0.70
Common stock issued for service, shares				500,000	88,573
Ergomed [Member]
Cost of shares issued		$ 61,000
Common stock shares issued						1,000,000
Consulting Agreements Other [Member]
Consulting fees inclued prepaid expenses	$ 51,000			$ 51,000			$ 52,000
Common stock issued for service, shares				397,000	218,000
Restricted Stock [Member] | Consultants [Member]
Weighted average grant date fair value				$ 0.85	$ 1.56
Common stock issued for service, shares				154,615	88,573
Pre-Funded [Member]
Common stock shares issued	8,577,500			8,577,500
Common stock shares issued	8,577,500			8,577,500
Public offering price	$ 0.3099			$ 0.3099
Changes in Equity Warrants [Member]
Common stock shares issued	8,577,500			8,577,500	1,450,000
Public offering price	$ 0.3099			$ 0.3099

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2024 USD ($)
COMMITMENTS AND CONTINGENCIES
Nine months ending September 30, 2025	$ 2,065,000
2026	2,838,000
2027	2,929,000
2028	3,021,000
2029	255,000
2030	0
Total future minimum lease obligation	11,108,000
Less imputed interest on finance lease obligations	(1,622,000)
Net present value of financing lease obligations	9,486,000
Less net present value of financing lease obligations - current portion	(2,074,000)
Net present value of financing lease obligations - non-current portion	$ 7,412,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 1)	Dec. 31, 2024 USD ($)
COMMITMENTS AND CONTINGENCIES
Nine months ending September 30, 2025	$ 276,000
2026	287,000
2027	277,000
2028	285,000
2029	294,000
2030	303,000
Thereafter	443,000
Total Future Minimum Lease Obligation	2,165,000
Less Imputed Interest On Operating Lease Obligation	(566,000)
Net Present Value Of Operating Lease Obligation	1,599,000
Net present value of lease finance lease obligations - current portion	(226,000)
Net present value of lease finance lease obligations - non-current portion	$ 1,373,000

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)		3 Months Ended
	Jan. 11, 2023	Dec. 31, 2024	Dec. 31, 2023	Sep. 30, 2024
Finance lease right-of-use asset		$ 6,899,819		$ 7,350,364
Finance lease liability		9,486,000
Finance lease liability current		2,074,490		2,010,995
Operating lease right-of-use asset		1,442,619		1,495,937
Operating lease liability		1,599,000
Operating lease liability current		$ 226,155		226,969
Lease Agreements [Member]
Annual increase to interest payments		8.46%	3%
Annual increase to interest payments operating		8.98%
Finance lease right-of-use asset		$ 6,900,000		7,400,000
Finance lease liability		9,500,000		10,000,000
Finance lease liability current		2,100,000		2,000,000
Security Deposit	$ 2,300,000
Operating lease right-of-use asset		1,400,000		1,500,000
Operating lease liability		1,600,000		1,700,000
Operating lease liability current		200,000		$ 200,000
Interest amount		200,000
Total depreciation expense		500,000	$ 500,000
Finance Lease Costs		700,000	700,000
Amortization of Finance Lease Assets		500,000	500,000
Interest Expense on Lease Liabilities		200,000	200,000
incurred lease expense under operating leases		100,000	100,000
Variable finance lease costs		300,000
Total cash payment for oprating lease		$ 100,000	100,000
Weighted average time of maturity of operating leases		6 years 9 months 21 days
Weighted average time of maturity of finance leases		3 years 9 months 29 days
Research and development expenses		$ 700,000	$ 700,000
Landlord [Member]
Financing arrangement deposit base rent amount	$ 2,300,000
Ergomed [Member]
Research and development expenses		$ 700,000

PATENTS (Details)

PATENTS (Details)	Dec. 31, 2024 USD ($)
PATENTS
Nine months ending September 30, 2025	$ 21,000
2026	25,000
2027	22,000
2028	18,000
2029	16,000
2030	14,000
Thereafter	32,000
Total	$ 148,000

PATENTS (Details Narrative)

PATENTS (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
PATENTS
Impairment patent costs	$ 9,541
Amortization expense	$ 8,000	$ 9,000
Weighted average amortization period for patents	7 years

LOSS PER COMMON SHARE (Details)

LOSS PER COMMON SHARE (Details) - USD ($)	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
LOSS PER COMMON SHARE
Net loss available to common shareholders - basic and diluted	$ (7,073,062)	$ (6,709,524)
Loss per share- basic and diluted
Weighted average shares outstanding - basic and diluted	65,325,855	48,470,600
Basic and diluted loss per common share	$ (0.11)	$ (0.14)

LOSS PER COMMON SHARE (Details

LOSS PER COMMON SHARE (Details 1) - shares	3 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities	18,981,427	15,986,278
Unvested Common Stock[Member]
Antidilutive Securities	1,000,000
Options and Warrants
Antidilutive Securities	17,837,177	15,839,028
Unvested Restricted Stock [Member]
Antidilutive Securities	144,250	147,250

LOSS PER COMMON SHARE (Detail_2

LOSS PER COMMON SHARE (Details Narrative) - shares	Dec. 31, 2024	Sep. 30, 2024
Common stock shares issued	74,084,041	63,787,104
Pre-Funded [Member]
Common stock shares issued	8,577,500