Quarterly report [Sections 13 or 15(d)]

Note 3 - Discontinued Operations (Tables)

v3.25.1
Note 3 - Discontinued Operations (Tables)
6 Months Ended
Mar. 31, 2025
Notes Tables  
Disposal Groups, Including Discontinued Operations [Table Text Block]
   

Three Months Ended

   

Six Months Ended

 
   

March 31,

   

March 31,

 
   

2025

   

2024

   

2025

   

2024

 
                                 

Net revenues

  $     $ 4,135,301     $ 4,484,591     $ 6,276,027  
                                 

Cost of sales

          3,457,002       2,900,514       4,447,276  
                                 

Gross profit

          678,299       1,584,077       1,828,751  
                                 

Operating expenses:

                               

Selling, general and administrative

    9,410       1,678,340       1,111,397       3,319,623  

Total operating expenses

    9,410       1,678,340       1,111,397       3,319,623  
                                 

Loss on sale of FC2 business

    (39,816 )           (4,244,251 )      
                                 

Operating loss

    (49,226 )     (1,000,041 )     (3,771,571 )     (1,490,872 )
                                 

Non-operating expenses:

                               

Interest expense

          (145,310 )     (164,270 )     (310,267 )

Change in fair value of derivative liabilities

          21,000       (3,138,316 )     19,000  

Other expense, net

          (16,496 )     (31,960 )     (39,746 )

Total non-operating expenses

          (140,806 )     (3,334,546 )     (331,013 )
                                 

Loss before income taxes

    (49,226 )     (1,140,847 )     (7,106,117 )     (1,821,885 )
                                 

Income tax expense

          182,002       78,553       109,563  
                                 

Net loss from discontinued operations, net of taxes

  $ (49,226 )   $ (1,322,849 )   $ (7,184,670 )   $ (1,931,448 )
Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet [Table Text Block]
   

September 30,

 
   

2024

 

Current assets:

       

Accounts receivable, net

  $ 3,960,305  

Inventories, net

    4,144,179  

Prepaid expenses and other current assets

    654,527  

Total current assets of discontinued operations

  $ 8,759,011  
         

Long-term assets:

       

Plant and equipment, net

  $ 803,282  

Operating lease right-of-use asset

    311,150  

Deferred income taxes

    12,340,237  

Other assets

    140,356  

Total long-term assets of discontinued operations

  $ 13,595,025  
         

Current liabilities:

       

Accounts payable

  $ 777,173  

Accrued compensation

    185,418  

Accrued expenses and other current liabilities

    1,390,412  

Operating lease liability, short-term portion

    328,527  

Total current liabilities of discontinued operations

  $ 2,681,530  
         

Long-term liabilities:

       

Operating lease liability, long-term portion

  $ 16,071  

Long-term liabilities of discontinued operations

  $ 16,071  
Schedule of Disposal Groups, Including Discontinued Operations, Cash Flow Information [Table Text Block]
   

Six Months Ended

 
   

March 31,

 
   

2025

   

2024

 
                 

Total net cash (used in) provided by operating activities from discontinued operations

  $ (334,864 )   $ 2,822,563  

Total net cash provided by investing activities from discontinued operations

  $ 16,330,432     $ (41,272 )