|12 Months Ended|
Sep. 30, 2020
|Subsequent Events [Abstract]|
NOTE 14 – SUBSEQUENT EVENTS
In October 2020, the 17.5 million shares of common stock listed on the balance sheet as additional paid in capital – shares to be issued, were issued. See Note 7.
In November 2020, the Company purchased a directors and officers’ insurance policy for approximately $259,000. This amount was paid in full in December 2020.
In November 2020, $300,000 was paid to a lender of our convertible debentures as payment in full of the outstanding balance.
Our Paycheck Protection Program PPP loan forgiveness application was filed in October 2020 and the loan plus accrued interest was forgiven in December 2020.
The remaining amounts receivable under our Tau #1 insurance claim of approximately $224,000 were received in October and November 2020, respectively.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef