Annual report [Section 13 and 15(d), not S-K Item 405]

Note 3 - Discontinued Operations (Tables)

v3.25.3
Note 3 - Discontinued Operations (Tables)
12 Months Ended
Sep. 30, 2025
Notes Tables  
Disposal Groups, Including Discontinued Operations [Table Text Block]
   

2025

   

2024

 
                 

Net revenues

  $ 4,484,591     $ 16,886,419  
                 

Cost of sales

    2,900,514       11,032,442  
                 

Gross profit

    1,584,077       5,853,977  
                 

Operating expenses

    1,112,183       6,600,314  
                 

Loss on sale of FC2 business

    (4,103,817 )      
                 

Operating loss

    (3,631,923 )     (746,337 )
                 

Non-operating expenses:

               

Interest expense

    (164,270 )     (607,470 )

Change in fair value of derivative liabilities

    (3,138,316 )     (239,000 )

Other expense, net

    (31,960 )     (223,580 )

Total non-operating expenses

    (3,334,546 )     (1,070,050 )
                 

Loss before income taxes

    (6,966,469 )     (1,816,387 )
                 

Income tax expense

    78,553       725,101  
                 

Net loss from discontinued operations, net of taxes

  $ (7,045,022 )   $ (2,541,488 )
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]
   

2025

   

2024

 
                 

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

  $ (335,650 )   $ 3,603,795  

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

  $ 16,469,469     $ (158,936 )