Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 06, 2023 | Mar. 31, 2023 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Sep. 30, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 000-54231 | ||
Entity Registrant Name | AMERICANN, INC | ||
Entity Incorporation, State or Country Code | CO | ||
Entity Tax Identification Number | 27-4336843 | ||
Entity Address, Address Line One | 1555 Blake Street, Unit 502 | ||
Entity Address, City or Town | Denver | ||
Entity Address, State or Province | CO | ||
Entity Address, Postal Zip Code | 80202 | ||
City Area Code | 303 | ||
Local Phone Number | 862-9000 | ||
Title of 12(g) Security | Common Stock, ($0.001 Par Value) | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 3,256,000 | ||
Entity Common Stock, Shares Outstanding (in shares) | 24,391,961 | ||
Auditor Firm ID | 206 | ||
Auditor Name | MaloneBailey, LLP | ||
Auditor Location | Houston, Texas | ||
Entity Central Index Key | 0001508348 | ||
Current Fiscal Year End Date | --09-30 | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Assets | ||
Cash and cash equivalents | $ 1,135,006 | $ 1,341,127 |
Restricted cash | 9,967 | 9,967 |
Tenant receivable | 103,450 | 251,462 |
Prepaid expenses and other current assets | 23,415 | 62,766 |
Current potion of note receivable | 62,116 | 43,185 |
Total current assets | 1,333,954 | 1,708,507 |
Financing Receivable, after Allowance for Credit Loss, Noncurrent | 337,884 | 0 |
Operating lease - right-of-use asset | 6,708,843 | 6,778,085 |
Total assets | 15,154,894 | 15,437,530 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 87,247 | 193,170 |
Interest payable (including $0 and $4,303 to related parties) | 40,686 | 53,964 |
Other payables | 6,365 | 8,612 |
Operating lease liability, short term | 12,204 | 11,283 |
Total current liabilities | 5,243,148 | 499,529 |
Operating lease liability, long term | 4,204,389 | 4,216,596 |
Total liabilities | 9,447,537 | 9,635,418 |
Commitments and Contingencies | ||
Stockholders' Equity: | ||
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.0001 par value; 100,000,000 shares authorized; 24,391,961 shares issued and outstanding as of September 30, 2023 and 2022 | 2,439 | 2,439 |
Additional paid in capital | 25,558,362 | 25,558,362 |
Accumulated deficit | (19,853,444) | (19,758,689) |
Total stockholders' equity | 5,707,357 | 5,802,112 |
Total liabilities and stockholders' equity | 15,154,894 | 15,437,530 |
February 2018 Convertible Notes [Member] | ||
Current Liabilities: | ||
Notes payable | 0 | 150,000 |
Related Party [Member] | ||
Current Liabilities: | ||
Accounts payable - related party | 15,000 | 82,500 |
Note payable - related party | 581,646 | 0 |
Notes payable (net of unamortized discounts of $0 and $162,353) | 0 | 581,646 |
Nonrelated Party [Member] | ||
Current Liabilities: | ||
Notes payable | 4,500,000 | 0 |
Notes payable (net of unamortized discounts of $0 and $162,353) | 0 | 4,337,647 |
Construction in Progress [Member] | ||
Assets | ||
Construction in progress | 371,682 | 338,977 |
Property Plant and Equipment Excluding Construction in Progress [Member] | ||
Assets | ||
Construction in progress | $ 6,402,531 | $ 6,611,961 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Interest Payable, Related Party, Current | $ 0 | $ 4,303 |
Debt Instrument, Unamortized Discount, Noncurrent | $ 0 | $ 162,353 |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued (in shares) | 24,391,961 | 24,391,961 |
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 24,391,961 | 24,391,961 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Rental income | $ 2,552,200 | $ 2,520,555 |
Rental income - related party | 0 | 407,264 |
Cost of revenues | 16,170 | 45,950 |
Gross profit | 2,536,030 | 2,881,869 |
Operating expenses: | ||
Advertising and marketing | 9,743 | 37,731 |
Professional fees | 359,669 | 343,829 |
General and administrative expenses | 1,554,948 | 2,017,582 |
Total operating expenses | 1,924,360 | 2,399,142 |
Income from operations | 611,670 | 482,727 |
Other income (expense): | ||
Interest income | 3,440 | 11,504 |
Total other income (expense) | (706,425) | (655,971) |
Net loss | $ (94,755) | $ (173,244) |
Basic and diluted (loss) income per common share (in dollars per share) | $ 0 | $ (0.01) |
Weighted average common shares outstanding (in shares) | 24,391,961 | 24,333,911 |
Nonrelated Party [Member] | ||
Other income (expense): | ||
Interest expense | $ (657,517) | $ (615,127) |
Related Party [Member] | ||
Other income (expense): | ||
Interest expense - related party | $ (52,348) | $ (52,348) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balances at Sep. 30, 2021 | $ 0 | $ 2,420 | $ 25,093,435 | ||
Balances (in shares) at Sep. 30, 2021 | 24,196,310 | (19,585,445) | 5,510,410 | ||
Stock Issued During Period, Value, Issued for Services | 0 | 89,981 | $ 0 | $ 90,000 | |
Stock Issued During Period, Shares, Issued for Services (in shares) | 195,651 | 195,651 | |||
Warrants Extension | $ 0 | $ 0 | 374,946 | 0 | $ 374,946 |
Net loss | $ (173,244) | $ (173,244) | |||
Shares, Outstanding (in shares) at Sep. 30, 2022 | 24,391,961 | (19,758,689) | 5,802,112 | ||
Balances at Sep. 30, 2022 | $ 2,439 | 25,558,362 | $ 5,802,112 | ||
Stock Issued During Period, Shares, Issued for Services (in shares) | 0 | ||||
Net loss | $ (94,755) | $ (94,755) | |||
Shares, Outstanding (in shares) at Sep. 30, 2023 | 0 | 24,391,961 | |||
Balances at Sep. 30, 2023 | $ 2,439 | $ 25,558,362 | $ (19,853,444) | $ 5,707,357 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (94,755) | $ (173,244) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 455,891 | 449,923 |
Amortization of right of use assets | 69,242 | 68,391 |
Stock based compensation and warrants revaluation expense | 0 | 374,946 |
Stock issued for services | 0 | 90,000 |
Amortization of debt discount | 162,353 | 107,153 |
Changes in operating assets and liabilities: | ||
Tenant receivable | 148,012 | 258,854 |
Tenant receivable - related party | 0 | (251,462) |
Prepaid expenses | 39,351 | (49,796) |
Accounts payable and accrued expenses | (105,923) | 3,150 |
Operating lease liability | (11,286) | (10,431) |
Other payables | (2,247) | (3,516) |
Net cash flows provided by (used in) operations | 579,860 | 848,738 |
Cash flows from investing activities: | ||
Additions to construction in progress | (32,705) | (245,577) |
Additions to property and equipment | (246,461) | 0 |
Payments received on notes receivable - related party | 43,185 | 41,564 |
Advances made on notes receivable | (400,000) | 0 |
Net cash flows (used in) investing activities | (635,981) | (204,013) |
Cash flows from financing activities: | ||
Principal payments on notes payable | (150,000) | 0 |
Net cash flows provided by financing activities | (150,000) | 0 |
Net increase in cash, cash equivalents, and restricted cash | (206,121) | 644,725 |
Cash, cash equivalents, and restricted cash at beginning of period | 1,351,094 | 706,369 |
Cash, cash equivalents, and restricted cash at end of period | 1,144,973 | 1,351,094 |
Supplementary Disclosure of Cash Flow Information: | ||
Cash paid for interest | 560,790 | 563,799 |
Cash paid for income taxes | 0 | 0 |
Related Party [Member] | ||
Changes in operating assets and liabilities: | ||
Accounts payable - related party | (67,500) | (15,000) |
Nonrelated Party [Member] | ||
Changes in operating assets and liabilities: | ||
Interest payable | $ (13,278) | $ (230) |
Note 1 - Description of Busines
Note 1 - Description of Business and Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | NOTE 1. DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business AmeriCann, Inc. ("the Company", “we”, “our”, or "the Issuer") was organized under the laws of the State of Delaware on June 25, 2010. The Company changed its corporate domicile to Colorado in 2022. On January 17, 2014, a privately held limited liability company acquired approximately 93% of the Company's outstanding shares of common stock from several of the Company's shareholders which resulted in a change in control of the Company. The Company's business plan is to design, develop, lease and operate state-of-the-art cultivation, processing and manufacturing facilities for licensed cannabis businesses throughout the United States. The Company's activities are subject to significant risks and uncertainties including failure to secure funding to expand its operations. Certain prior period amounts have been reclassified to conform with current period presentation. These reclassifications have no impact on net loss. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Summary of Significant Accounting Policies This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The consolidated financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States and have been consistently applied in the preparation of the consolidated financial statements. Principles of Consolidation The consolidated financial statements include the accounts of AmeriCann, Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant estimates and assumptions made by management are valuation of equity instruments, deferred tax asset valuation and allowance and collectability of accounts receivable and long-lived assets. Actual results could differ from those estimates as the current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposit accounts and temporary cash investments with maturities of ninety days or less at the date of purchase. Income Taxes The Company follows FASB Codification Topic 740-10-25 (ASC 740-10-25) for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. We expect to recognize the financial statement benefit of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination. For tax positions meeting a "more-likely-than-not" threshold, the amount to be recognized in the consolidated financial statements will be the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold, no financial statement benefit is recognized. As of September 30, 2023 and 2022, we had no no For federal tax purposes, our 2020 Concentration of Credit Risks and Significant Customers Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash, notes receivable, deposits tenant receivables and notes receivable. We place our cash with high credit quality financial institutions. As of September 30, 2023 and 2022, we had outstanding notes receivable of $400,000 and $43,185, respectively and tenant receivables of $103,450 and $251,462, respectively, with BASK, Inc. ("BASK"). For the year ended September 30, 2023, all of the Company’s revenue was earned from one Financial Instruments and Fair Value of Financial Instruments We adopted ASC Topic 820, ASC Topic 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC Topic 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. We had no no Derivative Liabilities We evaluate stock options, stock warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under the relevant sections of ASC Topic 815-40, Derivative Instruments and Hedging: Contracts in Entity’s Own Equity. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative instrument and is marked-to-market at each consolidated balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or other expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Financial instruments that are initially classified as equity that become subject to reclassification under ASC Topic 815-40 are reclassified to a liability account at the fair value of the instrument on the reclassification date. We determined that none of our financial instruments meet the criteria for derivative accounting as of September 30, 2023 and 2022. Operating leases Effective October 1, 2019, we adopted Topic 842 using the effective date method. Under this method, periods prior to adoption remain unchanged. We determine if an arrangement is a lease at inception. Right of Use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Variable lease payments are not included in the calculation of the right-of-use asset and lease liability due to uncertainty of the payment amount and are recorded as lease expense in the period incurred. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Under the available practical expedient, we account for the lease and non-lease components as a single lease component for all classes of underlying assets as both a lessee and lessor. Further, we elected a short-term lease exception policy on all classes of underlying assets, permitting us to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less). Long-Lived Assets Our long-lived assets consisted of property, plant and equipment and are reviewed for impairment in accordance with the guidance of the Topic ASC Topic 360, Property, Plant, and Equipment. We test for impairment losses on long-lived assets used in operations whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of an asset to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds its fair value. Impairment evaluations involve management's estimates on asset useful lives and future cash flows. Actual useful lives and cash flows could be different from those estimated by management which could have a material effect on our reporting results and financial positions. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. There were no Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation of property, plant and equipment begins in the month following the month when the asset is placed into service and is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three twenty September 30, 2023 September 30, 2022 Buildings and improvements $ 7,854,548 $ 7,608,087 Computer equipment 349,576 349,576 Furniture and equipment 2,764 2,764 Total 8,206,888 7,960,427 Accumulated depreciation (1,804,357 ) (1,348,466 ) Property and equipment, net $ 6,402,531 $ 6,611,961 Depreciation expense for the years ended September 30, 2023 and 2022 amounted to $455,891 and $449,923, respectively. Equity Instruments Issued to Non-Employees for Acquiring Goods or Services Effective October 1, 2019, the Company adopted ASU 2018-07, Compensation – “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, which addresses aspects of the accounting for nonemployee share-based payment transactions. Upon adoption, all of the issuances of stock to non-employees for goods and services are treated in the same matter as share based awards to employees. The adoption did not have an impact on the Company’s financial statements. Non-Cash Equity Transactions Shares of equity instruments issued for noncash consideration are recorded at the estimated fair market value of the consideration granted based on the estimated fair market value of the equity instrument, or at the estimated fair market value of the goods or services received, whichever is more readily determinable. Stock-Based Compensation The Company accounts for share-based awards to employees in accordance with ASC Topic 718, Stock Compensation Under this guidance, stock compensation expense is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the estimated service period (generally the vesting period) on the straight-line attribute method. Effective October 1, 2019, the Company adopted ASU 2018-07, Compensation – “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, which aligns the accounting for nonemployee share-based payments with accounting of share-based payments to employees. Related Parties A party is considered to be related to us if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with us. Related parties also include our principal owners, our management, members of the immediate families of our principal owners and our management and other parties with which we may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties, or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests, is also a related party. Revenue Recognition Effective October 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the new standard, we recognize revenues when the following criteria are met: (i) persuasive evidence of a contract with a customer exists, (ii) identifiable performance obligations under the contract exist, (iii) the transaction price is determinable for each performance obligation, (iv) the transaction price is allocated to each performance obligation, and (v) when the performance obligations are satisfied. Currently, we derive all of our revenues from property leases. Property leases are not within the scope of ASC 606. Advertising Expense Advertising, promotional and selling expenses consist of sales and marketing expenses, and promotional activity expenses. Expenses are recognized when incurred. General and Administrative Expense General and administrative expenses consist of professional service fees, rent and utility expenses, meals, travel and entertainment expenses, and other general and administrative overhead costs. Expenses are recognized when incurred. Loss per Share We compute net loss per share in accordance with the ASC Topic 260. The ASC specifies the computation, presentation and disclosure requirements for loss per share for entities with publicly held common stock. Basic loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Shares issuable upon the exercise of equity instruments such as warrants and options were not included in the loss per share calculations for 2023 and 2022 because the inclusion would have been anti-dilutive. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This may result in the earlier recognition of allowances for losses. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this standard on the financial statements. Recently Issued Accounting Pronouncements During the year ended September 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements. |
Note 2 - Going Concern
Note 2 - Going Concern | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2. GOING CONCERN The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company had an accumulated deficit of $19,853,444 and $19,758,689 at September 30, 2023 and 2022, respectively, and had a net loss of $94,755 and $173,244 for the years ended September 30, 2023 and 2022, respectively. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern. While the Company is attempting to increase operations and generate additional revenues, the Company's cash position may not be significant enough to support the Company's daily operations. Management intends to raise additional funds through the sale of its securities. Management believes that the actions presently being taken to further implement its business plan and generate additional revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate additional revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate additional revenues. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note 3 - Cash and Cash Equivale
Note 3 - Cash and Cash Equivalents and Restricted Cash | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 3. CASH AND CASH EQUIVALENTS AND RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts in the consolidated statements of cash flows: September 30, 2023 September 30, 2022 Cash and cash equivalents $ 1,135,006 $ 1,341,127 Restricted cash 9,967 9,967 Total cash, cash equivalents, and restricted cash shown in the cash flow statement $ 1,144,973 $ 1,351,094 Amounts included in restricted cash represent those required to be set aside by the Cannabis Control Commission in Massachusetts as well as by a contractual agreement with a lender for the payment of specific construction related expenditures as part of the Company’s property development in Massachusetts. |
Note 4 - Notes Receivable
Note 4 - Notes Receivable | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4. NOTES RECEIVABLE Notes and other receivables as of September 30, 2023 and 2022, consisted of the following: September 30, 2023 September 30, 2022 Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. $ - $ 43,185 Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. 400,000 - 400,000 43,185 Less: Current portion (62,116 ) (43,185 ) $ 337,884 $ - |
Note 5 - Notes Payable
Note 5 - Notes Payable | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5. NOTES PAYABLE On August 2, 2019 the Company secured a $4,000,000 investment from an unrelated third party in the form of a loan. The loan was evidenced by a note which bore interest at the rate of 11% per year, was originally due and payable on August 2, 2022 and was secured by a first lien on Building 1 at the Massachusetts Cannabis Center (“MCC”). The note holder also received a warrant which allows the holder to purchase 600,000 shares of the Company’s common stock at a price of $1.50 per share. The warrant will expire on the earlier of (i) August 2, 2024 or (ii) twenty days after written notice of the holder that the daily Volume Weighted Average Price of the Company’s common stock was at least $4.00 for twenty consecutive trading days and the average daily volume of trades of the Company’s common stock during the twenty trading days was at least 150,000 shares. The broker for the loan received a cash commission of $320,000 plus warrants to purchase 48,000 shares of the Company's common stock. The warrants are exercisable at a price of $1.50 per share and expire on August 2, 2024. The cash commission and the fair value of the warrants amounting to $52,392 were recognized as a discount to the note. The Company allocated the proceeds between the note and the warrants based on their relative fair values. The relative fair value of the 600,000 warrants was $562,762 which was recognized as additional paid in capital and a corresponding debt discount. On December 4, 2020, the loan was modified and increased by $500,000 and the maturity of the loan was extended to August 1, 2023. All other provisions of the original loan remain the same. The debt modification was deemed not substantial and was accounted for as a debt modification. The broker for the loan received a cash commission of $40,000 which was expensed when incurred. On July 31, 2023, the loan was modified and the maturity of the loan was extended to December 1, 2023. On November 30, 2023, the maturity of the loan was extended to January 31, 2024. All other provisions of the previously modified loan remain the same. The debt modification was deemed not substantial and was accounted for as a debt modification. The broker for the loan received a cash commission of $7,500 which was expensed when incurred. At September 30, 2023, the outstanding principal on this note was $4,500,000 and the unamortized debt discount was $0. All debt discounts are being amortized on a straight-line basis over the terms of the note. Amortization expense related to the debt discounts was $162,353 and $107,153 for the years ended September 30, 2023 and 2022, respectively. February 2018 Convertible Note Offering On February 12, 2018 the Company sold convertible notes in the principal amount of $810,000 to a group of accredited investors. The notes were unsecured and bore interest at 8% per year. On October 12, 2020, the remaining note was extended to mature on June 30, 2022. On December 15, 2021, the remaining note was extended to mature on December 31, 2022. On October 5, 2022, the Company paid $159,140 to fully repay the $150,000 note including $9,140 of interest. At September 30, 2023 and September 30, 2022, the outstanding principal on these notes was $0 and $150,000, respectively. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 6. RELATED PARTY TRANSACTIONS BASK. Pursuant to the agreements, we agreed to provide BASK with financing for construction and working capital required for BASK’s approved dispensary and cultivation center in Fairhaven, MA. On August 15, 2018, the Company combined the construction and working capital advances of $129,634 and accrued interest of $44,517 and setup a new loan with payments over 5 years with 18% interest. At September 30, 2023 and 2022, the outstanding balance on the note receivable was $0 and $43,185, respectively. On July 26, 2019, the Company entered into a 15-Year Triple Net lease of Building 1 of the MCC with BASK. The lease commenced on September 1, 2019 and includes an annual base rent of $138,762 and a revenue participation fee equivalent to 15% of BASK's gross revenues. As of September 30, 2023, the BASK tenant receivable balance was $103,450. Tim Keogh, our Chief Executive Officer, was a Board Member of BASK between August 2013 and November 2021. Effective December 1, 2021, BASK was no longer classified as a related party. SCP. Accrued interest on the note was $0 and $4,303 at September 30, 2023 and September 30, 2022, respectively. At September 30, 2023 and 2022, the outstanding principal on this note was $581,646. During the year ended September 30, 2023, the Company incurred $180,000 of consulting expenses with SCP and paid $247,500. As of September 30, 2023, $15,000 remains unpaid. During the year ended September 30, 2022 the Company incurred $180,000 of consulting expenses with SCP of which $82,500 remained outstanding at September 30, 2022. The Company leases office space from SCP. Lease expense for office space was $30,000 for the years ended September 30, 2023 and 2022. SCP is controlled by Benjamin J. Barton, one of our officers and directors and principal shareholders. |
Note 7 - Loss Per Share
Note 7 - Loss Per Share | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 7. LOSS PER SHARE The following table sets forth the computation of basic and diluted net loss per share: Year ended September 30, 2023 2022 Net loss attributable to common stockholders $ (94,755 ) $ (173,244 ) Basic weighted average outstanding shares of common stock 24,391,961 24,333,911 Dilutive effects of common share equivalents - - Dilutive weighted average outstanding shares of common stock 24,391,961 24,333,911 Basic and diluted net loss per share of common stock $ (0.00 ) $ (0.01 ) As of September 30, 2023, we have excluded 1,700,000 of stock options and 2,148,000 of warrants from the computation of diluted net loss per share since the effects are anti-dilutive. As of September 30, 2022, we have excluded 1,700,000 of stock options and 4,026,650 of warrants and 100,000 shares that would be issued from conversion of outstanding convertible notes from the computation of diluted net loss per share since the effects are anti-dilutive. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8. INCOME TAXES Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses. These loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur. The Company accounts for income taxes pursuant to ASC Topic 740. The Company has made an early adoption of ASU 2015-17 Balance Sheet Classification of Deferred Taxes. Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses and other items. Loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur. The components of the deferred income tax assets and liabilities arising under ASC Topic 740 were as follows: September 30, 2023 2022 Deferred tax assets $ 2,539,487 $ 2,651,840 Deferred tax liabilities - - Valuation allowance (2,539,487 ) (2,651,840 ) Net deferred tax assets/(liabilities) - - The types of temporary differences between the tax basis of assets and their financial reporting amounts that give rise to a significant portion of the deferred assets and liabilities are as follows: September 30, 2023 2022 Temporary Difference Tax Effect Temporary Difference Tax Effect Deferred tax assets Net operating loss $ 94,755 $ 29,185 $ 173,244 $ 53,550 Tax impact true up - - - - Other temporary differences (438,313 ) $ (135,000 ) (721,657 ) $ (223,064 ) Net deferred tax assets (343,558 ) (105,815 ) (548,413 ) (169,514 Valuation allowance 343,558 105,815 548,413 169,514 ) Total deferred tax asset - - - - Deferred tax liabilities Total deferred liability - - - - Total net deferred tax asset $ - $ - $ - $ - Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses. These loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur. At September 30, 2023 and September 30, 2022, the Company had approximately $11,037,777 and $11,383,482 respectively, in unused federal net operating loss carryforwards, which will begin to expire principally in the year 2035. A deferred tax (liability)/asset at each date of approximately $2,539,487 and $2,651,840 resulting from the loss carryforwards and other temporary differences has been offset by a 100% valuation allowance. The change in the valuation allowance for the years ended September 30, 2023 and September 30, 2022 was approximately $(112,353) and $(92,833). A reconciliation of the U.S. statutory federal income tax rate to the effective tax rate is as follows: September 30, 2023 2022 U.S. Federal statutory graduated rate 21.00 % 21.00 % State income tax rate, net of federal benefit 9.80 % 9.91 % Total rate 30.80 % 30.91 % Less: Net operating loss for which no benefit is currently available (30.80 )% (30.91 )% Net effective rate 0.00 % 0.00 % The Company’s income tax filings are subject to audit by various taxing authorities. The Company’s open audit periods are September 30, 2020, 2021, and 2022. In evaluating the Company’s provisions and accruals, future taxable income, and reversal of temporary differences, interpretations and tax planning strategies are considered. The Company believes its estimates are appropriate based on current facts and circumstances. We recorded a valuation allowance against all of our deferred tax assets as of both September 30, 2023, and September 30, 2022. We intend to continue maintaining a full valuation allowance on our deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances. However, given our current earnings and anticipated future earnings, we believe that there is a reasonable possibility that within the near future, sufficient positive evidence may become available to allow us to reach a conclusion that a significant portion of the valuation allowance will no longer be needed. |
Note 9 - Equity
Note 9 - Equity | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | NOTE 9. EQUITY Preferred Stock The Company has authorized 20,000,000 shares of $ .0001 No Common Stock During the year ended September 30, 2023, we did not During the year ended September 30, 2022, we issued 195,651 shares of stock for services valued $90,000. Stock Options On August 18, 2017, our board of directors adopted a stock incentive plan (“the plan”) that provides for the grant of Incentive Stock Options, Non-Qualified Stock Options or Stock Bonuses to persons who are employees of the Company, employees of subsidiaries of the Company, directors, officers, and consultants. Under the plan, the Company may grant stock bonuses or options (up to a combined maximum of 2,500,000 shares or options). Each option allows for the purchase of one share of common stock, subject to an exercise price and vesting schedule to be established by the board of directors at the time of the grant. In December 2021, the Company extended the expiration date of some stock options and recorded an additional stock option-based compensation expense of $119,346 based on the fair value established using the Black Scholes option pricing model. Options Issuances in 2023 The Company did not issue any options during the year ended September 30, 2023. Options Issuances in 2022 The Company did not The following table shows the stock option activity for the years ended September 30, 2023 and 2022: Weighted Weighted Average Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (Years) Value Exercisable at September 30, 2022 1,700,000 $ 1.94 4.7 $ - Outstanding as of September 30, 2023 1,700,000 $ 1.94 3.4 $ - Vested and expected to vest at September 30, 2023 1,700,000 $ 1.94 3.4 $ - Exercisable at September 30, 2023 1,700,000 $ 1.94 3.4 $ - Warrants In December 2021, the Company extended the expiration date of certain warrants to December 31, 2024 and recorded a warrants revaluation expense based on a Black Sholes model calculation of $255,600. Warrant Issuances in 2023 The Company did not issue any warrants during the year ended September 30, 2023. Warrant Issuances in 2022 The Company did not issue any warrants during the year ended September 30, 2022. The following table shows the warrant activity for the years ended September 30, 2023 and 2022: Weighted Weighted Average Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (Years) Value Outstanding as of September 30, 2022 4,026,650 1.40 1.20 $ - Expired (1,878,650 ) 1.48 Outstanding as of September 30, 2023 2,148,000 1.33 1.13 $ - Exercisable at September 30, 2023 2,148,000 1.33 1.13 $ - |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 10. COMMITMENTS AND CONTINGENCIES Operating Leases Land On October 17, 2016, the Company closed on the acquisition of the 52.6-acre parcel of undeveloped land in Freetown, Massachusetts. The property is located approximately 47 miles southeast of Boston. The Company is developing the property as the MCC. Plans for the property may include the construction of sustainable greenhouse cultivation and processing facilities that will be leased or sold to Registered Marijuana Dispensaries under the Massachusetts Medical Marijuana Program. As part of a simultaneous transaction, the Company assigned the property rights to Massachusetts Medical Properties, LLC (“MMP”) for a nominal fee and entered a lease agreement pursuant to which MMP agreed to lease the property to the Company for an initial term of fifty (50) years. We have the option to extend the term of the lease for four (4) additional ten (10) year periods. The lease is a triple net lease, with the Company paying all real estate taxes, repairs, maintenance and insurance. The lease payments will be the greater of (a) $30,000 per month; (b) $0.38 per square foot per month of any structure built on the property; or (c) 1.5% of all gross monthly sales of products sold by the Company, any assignee of the Company, or any subtenant of the Company. The lease payments will be adjusted up (but not down) every five (5) years by any increase in the Consumer Price Index. Effective October 1, 2019, the Company adopted Topic 842 and recorded ROU assets and lease liabilities of $6,980,957 and $4,256,869, respectively. As part of the adoption, prepaid land lease balance of $2,724,088 was classified as a component of the Company’s ROU assets. The Company completed the construction of Building 1 on the leased land and on September 1, 2019, BASK, commenced its 15-year sublease of Building 1 which includes a base rent plus 15% of BASK’s gross revenues. This sublease income is recorded as Rental income and Rental income – related party through November 2021 and as Rental income between December 2021 and through September 2023 on the Company’s consolidated statements of operations. As of September 30, 2023, the Company’s right-of-use assets were $6,708,843, the Company’s current maturities of operating lease liabilities were $12,204, and the Company’s noncurrent lease liabilities were $4,204,389. During the year ended September 30, 2023, the Company had operating cash flows from operating leases of $341,450. The table below presents lease related terms and discount rates as of September 30, 2023. As of September 30, 2023 Weighted average remaining lease term Operating leases 43.00 Weighted average discount rate Operating leases 7.9 % The reconciliation of the maturities of the operating leases to the lease liabilities recorded in the Consolidated Balance Sheet as of September 30, 2023 are as follows: 2023 341,500 2024 341,500 2025 341,500 2026 341,500 2027 341,500 Thereafter 12,977,000 Total lease payments 14,684,500 Less: Interest (10,467,907 ) $ 4,216,593 Less: operating lease liability, current portion (12,204 ) Operating lease liability, long term $ 4,204,389 Office space The Company leases its office space located at 1555 Blake St., Unit 502, Denver, CO 80202 for $2,500 per month with a lease term of less than 12 months from SCP, a related party. See Note 6. Aggregate rental expense under all leases totaled $481,375 and $475,249 for the years ended September 30, 2023 and 2022, respectively. |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 12 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11. SUBSEQUENT EVENTS On November 30, 2023, the maturity date of the $4,500,000 loan was extended to January 31, 2024 while all other provisions of the note remained the same. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of AmeriCann, Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidated financial statements. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant estimates and assumptions made by management are valuation of equity instruments, deferred tax asset valuation and allowance and collectability of accounts receivable and long-lived assets. Actual results could differ from those estimates as the current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposit accounts and temporary cash investments with maturities of ninety days or less at the date of purchase. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company follows FASB Codification Topic 740-10-25 (ASC 740-10-25) for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. We expect to recognize the financial statement benefit of an uncertain tax position only after considering the probability that a tax authority would sustain the position in an examination. For tax positions meeting a "more-likely-than-not" threshold, the amount to be recognized in the consolidated financial statements will be the benefit expected to be realized upon settlement with the tax authority. For tax positions not meeting the threshold, no financial statement benefit is recognized. As of September 30, 2023 and 2022, we had no no For federal tax purposes, our 2020 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risks and Significant Customers Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash, notes receivable, deposits tenant receivables and notes receivable. We place our cash with high credit quality financial institutions. As of September 30, 2023 and 2022, we had outstanding notes receivable of $400,000 and $43,185, respectively and tenant receivables of $103,450 and $251,462, respectively, with BASK, Inc. ("BASK"). For the year ended September 30, 2023, all of the Company’s revenue was earned from one |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments and Fair Value of Financial Instruments We adopted ASC Topic 820, ASC Topic 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC Topic 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. We had no no |
Derivatives, Policy [Policy Text Block] | Derivative Liabilities We evaluate stock options, stock warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under the relevant sections of ASC Topic 815-40, Derivative Instruments and Hedging: Contracts in Entity’s Own Equity. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative instrument and is marked-to-market at each consolidated balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or other expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Financial instruments that are initially classified as equity that become subject to reclassification under ASC Topic 815-40 are reclassified to a liability account at the fair value of the instrument on the reclassification date. We determined that none of our financial instruments meet the criteria for derivative accounting as of September 30, 2023 and 2022. |
Lessee, Leases [Policy Text Block] | Operating leases Effective October 1, 2019, we adopted Topic 842 using the effective date method. Under this method, periods prior to adoption remain unchanged. We determine if an arrangement is a lease at inception. Right of Use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Variable lease payments are not included in the calculation of the right-of-use asset and lease liability due to uncertainty of the payment amount and are recorded as lease expense in the period incurred. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Under the available practical expedient, we account for the lease and non-lease components as a single lease component for all classes of underlying assets as both a lessee and lessor. Further, we elected a short-term lease exception policy on all classes of underlying assets, permitting us to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less). |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets Our long-lived assets consisted of property, plant and equipment and are reviewed for impairment in accordance with the guidance of the Topic ASC Topic 360, Property, Plant, and Equipment. We test for impairment losses on long-lived assets used in operations whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Recoverability of an asset to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the asset. If such asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds its fair value. Impairment evaluations involve management's estimates on asset useful lives and future cash flows. Actual useful lives and cash flows could be different from those estimated by management which could have a material effect on our reporting results and financial positions. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. There were no |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation of property, plant and equipment begins in the month following the month when the asset is placed into service and is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three twenty September 30, 2023 September 30, 2022 Buildings and improvements $ 7,854,548 $ 7,608,087 Computer equipment 349,576 349,576 Furniture and equipment 2,764 2,764 Total 8,206,888 7,960,427 Accumulated depreciation (1,804,357 ) (1,348,466 ) Property and equipment, net $ 6,402,531 $ 6,611,961 Depreciation expense for the years ended September 30, 2023 and 2022 amounted to $455,891 and $449,923, respectively. |
Commissions Expense, Policy [Policy Text Block] | Equity Instruments Issued to Non-Employees for Acquiring Goods or Services Effective October 1, 2019, the Company adopted ASU 2018-07, Compensation – “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, which addresses aspects of the accounting for nonemployee share-based payment transactions. Upon adoption, all of the issuances of stock to non-employees for goods and services are treated in the same matter as share based awards to employees. The adoption did not have an impact on the Company’s financial statements. |
Business Combinations and Other Purchase of Business Transactions, Policy [Policy Text Block] | Non-Cash Equity Transactions Shares of equity instruments issued for noncash consideration are recorded at the estimated fair market value of the consideration granted based on the estimated fair market value of the equity instrument, or at the estimated fair market value of the goods or services received, whichever is more readily determinable. |
Compensation Related Costs, Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for share-based awards to employees in accordance with ASC Topic 718, Stock Compensation Under this guidance, stock compensation expense is measured at the grant date, based on the fair value of the award, and is recognized as an expense over the estimated service period (generally the vesting period) on the straight-line attribute method. Effective October 1, 2019, the Company adopted ASU 2018-07, Compensation – “Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting”, which aligns the accounting for nonemployee share-based payments with accounting of share-based payments to employees. |
Collaborative Arrangement, Accounting Policy [Policy Text Block] | Related Parties A party is considered to be related to us if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with us. Related parties also include our principal owners, our management, members of the immediate families of our principal owners and our management and other parties with which we may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties, or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests, is also a related party. |
Revenue [Policy Text Block] | Revenue Recognition Effective October 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the new standard, we recognize revenues when the following criteria are met: (i) persuasive evidence of a contract with a customer exists, (ii) identifiable performance obligations under the contract exist, (iii) the transaction price is determinable for each performance obligation, (iv) the transaction price is allocated to each performance obligation, and (v) when the performance obligations are satisfied. Currently, we derive all of our revenues from property leases. Property leases are not within the scope of ASC 606. |
Advertising Cost [Policy Text Block] | Advertising Expense Advertising, promotional and selling expenses consist of sales and marketing expenses, and promotional activity expenses. Expenses are recognized when incurred. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | General and Administrative Expense General and administrative expenses consist of professional service fees, rent and utility expenses, meals, travel and entertainment expenses, and other general and administrative overhead costs. Expenses are recognized when incurred. |
Earnings Per Share, Policy [Policy Text Block] | Loss per Share We compute net loss per share in accordance with the ASC Topic 260. The ASC specifies the computation, presentation and disclosure requirements for loss per share for entities with publicly held common stock. Basic loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Shares issuable upon the exercise of equity instruments such as warrants and options were not included in the loss per share calculations for 2023 and 2022 because the inclusion would have been anti-dilutive. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements During the year ended September 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements. |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2023 September 30, 2022 Buildings and improvements $ 7,854,548 $ 7,608,087 Computer equipment 349,576 349,576 Furniture and equipment 2,764 2,764 Total 8,206,888 7,960,427 Accumulated depreciation (1,804,357 ) (1,348,466 ) Property and equipment, net $ 6,402,531 $ 6,611,961 |
Note 3 - Cash and Cash Equiva_2
Note 3 - Cash and Cash Equivalents and Restricted Cash (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Reconciliation of Cash, Cash Equivalents and Restricted Cash [Table Text Block] | September 30, 2023 September 30, 2022 Cash and cash equivalents $ 1,135,006 $ 1,341,127 Restricted cash 9,967 9,967 Total cash, cash equivalents, and restricted cash shown in the cash flow statement $ 1,144,973 $ 1,351,094 |
Note 4 - Notes Receivable (Tabl
Note 4 - Notes Receivable (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2023 September 30, 2022 Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. $ - $ 43,185 Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. 400,000 - 400,000 43,185 Less: Current portion (62,116 ) (43,185 ) $ 337,884 $ - |
Note 7 - Loss Per Share (Tables
Note 7 - Loss Per Share (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended September 30, 2023 2022 Net loss attributable to common stockholders $ (94,755 ) $ (173,244 ) Basic weighted average outstanding shares of common stock 24,391,961 24,333,911 Dilutive effects of common share equivalents - - Dilutive weighted average outstanding shares of common stock 24,391,961 24,333,911 Basic and diluted net loss per share of common stock $ (0.00 ) $ (0.01 ) |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, 2023 2022 Deferred tax assets $ 2,539,487 $ 2,651,840 Deferred tax liabilities - - Valuation allowance (2,539,487 ) (2,651,840 ) Net deferred tax assets/(liabilities) - - |
Schedule of Temporary Differences of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, 2023 2022 Temporary Difference Tax Effect Temporary Difference Tax Effect Deferred tax assets Net operating loss $ 94,755 $ 29,185 $ 173,244 $ 53,550 Tax impact true up - - - - Other temporary differences (438,313 ) $ (135,000 ) (721,657 ) $ (223,064 ) Net deferred tax assets (343,558 ) (105,815 ) (548,413 ) (169,514 Valuation allowance 343,558 105,815 548,413 169,514 ) Total deferred tax asset - - - - Deferred tax liabilities Total deferred liability - - - - Total net deferred tax asset $ - $ - $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | September 30, 2023 2022 U.S. Federal statutory graduated rate 21.00 % 21.00 % State income tax rate, net of federal benefit 9.80 % 9.91 % Total rate 30.80 % 30.91 % Less: Net operating loss for which no benefit is currently available (30.80 )% (30.91 )% Net effective rate 0.00 % 0.00 % |
Note 9 - Equity (Tables)
Note 9 - Equity (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (Years) Value Exercisable at September 30, 2022 1,700,000 $ 1.94 4.7 $ - Outstanding as of September 30, 2023 1,700,000 $ 1.94 3.4 $ - Vested and expected to vest at September 30, 2023 1,700,000 $ 1.94 3.4 $ - Exercisable at September 30, 2023 1,700,000 $ 1.94 3.4 $ - |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Weighted Average Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (Years) Value Outstanding as of September 30, 2022 4,026,650 1.40 1.20 $ - Expired (1,878,650 ) 1.48 Outstanding as of September 30, 2023 2,148,000 1.33 1.13 $ - Exercisable at September 30, 2023 2,148,000 1.33 1.13 $ - |
Note 10 - Commitments and Con_2
Note 10 - Commitments and Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lease Related Terms and Discount Rates [Table Text Block] | As of September 30, 2023 Weighted average remaining lease term Operating leases 43.00 Weighted average discount rate Operating leases 7.9 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | 2023 341,500 2024 341,500 2025 341,500 2026 341,500 2027 341,500 Thereafter 12,977,000 Total lease payments 14,684,500 Less: Interest (10,467,907 ) $ 4,216,593 Less: operating lease liability, current portion (12,204 ) Operating lease liability, long term $ 4,204,389 |
Note 1 - Description of Busin_3
Note 1 - Description of Business and Significant Accounting Policies (Details Textual) | 12 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Jan. 17, 2014 | |
Ownership Percentage, Transfered | 93% | |||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | |||
Financing Receivable, after Allowance for Credit Loss, Noncurrent | 337,884 | 0 | ||
Tenant Receivable, Current | 103,450 | 251,462 | ||
Impairment of Long-Lived Assets to be Disposed of | 0 | 0 | ||
Depreciation | 455,891 | 449,923 | ||
Property Lease, Unearned Revenue | $ 0 | 0 | ||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
Fair Value, Nonrecurring [Member] | ||||
Assets, Fair Value Disclosure, Total | $ 0 | |||
Fair Value, Recurring [Member] | ||||
Assets, Fair Value Disclosure, Total | $ 0 | 0 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Number of Major Customers | 1 | |||
BASK [Member] | ||||
Financing Receivable, after Allowance for Credit Loss, Noncurrent | 400,000 | 43,185 | ||
Tenant Receivable, Current | $ 103,450 | $ 251,462 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||
Open Tax Year | 2018 2019 2020 |
Note 1 - Description of Busin_4
Note 1 - Description of Business and Significant Accounting Policies - Property, Plant and Equipment, Net (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Buildings and improvements | $ 8,206,888 | $ 7,960,427 |
Building and Building Improvements [Member] | ||
Buildings and improvements | 7,854,548 | 7,608,087 |
Computer Equipment [Member] | ||
Buildings and improvements | 349,576 | 349,576 |
Furniture and Equipment 1[Member] | ||
Buildings and improvements | 2,764 | 2,764 |
Property Plant and Equipment Excluding Construction in Progress [Member] | ||
Accumulated depreciation | (1,804,357) | (1,348,466) |
Construction in progress | $ 6,402,531 | $ 6,611,961 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Retained Earnings (Accumulated Deficit) | $ 19,853,444 | $ 19,758,689 |
Net Income (Loss) Attributable to Parent | 94,755 | 173,244 |
Net loss | $ (94,755) | $ (173,244) |
Note 3 - Cash and Cash Equiva_3
Note 3 - Cash and Cash Equivalents and Restricted Cash - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Cash and cash equivalents | $ 1,135,006 | $ 1,341,127 |
Restricted cash | 9,967 | 9,967 |
Total cash, cash equivalents, and restricted cash shown in the cash flow statement | $ 1,144,973 | $ 1,351,094 |
Note 4 - Notes Receivable - Sch
Note 4 - Notes Receivable - Schedule of Notes Receivable (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Aug. 15, 2018 |
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | $ 337,884 | $ 0 | |
Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. | 337,884 | 0 | |
Notes and Other Receivables, Net | 400,000 | 43,185 | |
Less: Current portion | (62,116) | (43,185) | |
BASK [Member] | |||
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | 0 | 43,185 | $ 129,634 |
Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. | 0 | 43,185 | $ 129,634 |
BASK [Member] | Notes Receivable, Interest Maturity 2023 [Member] | |||
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | 0 | 43,185 | |
Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. | 0 | 43,185 | |
BASK [Member] | Notes Receivable, Interest Receivable 2028 [Member] | |||
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | 400,000 | 0 | |
Note receivable from BASK, interest rate of 12.0%; monthly principal and interest payments of $8,898, maturing in 2028. | $ 400,000 | $ 0 |
Note 4 - Notes Receivable - S_2
Note 4 - Notes Receivable - Schedule of Notes Receivable (Details) (Parentheticals) - BASK [Member] - USD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Aug. 15, 2018 | |
Note Receivable, Interest Rate | 18% | ||
Notes Receivable, Interest Maturity 2023 [Member] | |||
Note Receivable, Interest Rate | 18% | ||
Note Receivable, Periodic Payment | $ 4,422 | ||
Notes Receivable, Interest Maturity 2028 [Member] | |||
Note Receivable, Interest Rate | 12% | ||
Note Receivable, Periodic Payment | $ 8,898 |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) - USD ($) | 12 Months Ended | ||||||||
Oct. 05, 2022 | Dec. 04, 2020 | Aug. 02, 2019 | Sep. 30, 2023 | Sep. 30, 2022 | Jul. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2021 | Feb. 12, 2018 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.33 | $ 1.4 | |||||||
Class of Warrant or Right, Outstanding | 2,148,000 | 4,026,650 | |||||||
Amortization of Debt Discount (Premium) | $ 162,353 | $ 107,153 | |||||||
Interest Payable, Current | 40,686 | 53,964 | |||||||
Promissory Notes [Member] | Unrelated Party [Member] | |||||||||
Average Closing Price per Share | $ 4 | ||||||||
Average Daily Volume Of Shares Trades | 150,000 | ||||||||
Payments of Debt Issuance Costs | $ 320,000 | ||||||||
February 2018 Convertible Notes [Member] | |||||||||
Notes Payable, Current | 0 | 150,000 | |||||||
Warrants Issued to Unrelated Parties Lenders [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 600,000 | ||||||||
Warrants Issued to Unrelated Parties Lenders [Member] | Promissory Notes [Member] | |||||||||
Class of Warrant or Right, Outstanding | 600,000 | ||||||||
Warrants and Rights Outstanding | $ 562,762 | ||||||||
Warrants to Purchase Additional Shares [Member] | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.5 | ||||||||
Warrants Issued to Placement Agent [Member] | Promissory Notes [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 48,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.5 | ||||||||
Unrelated Party [Member] | |||||||||
Proceeds from Issuance of Long-Term Debt | $ 4,000,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11% | ||||||||
Unrelated Party [Member] | Promissory Notes [Member] | |||||||||
Proceeds from Issuance of Long-Term Debt | $ 500,000 | ||||||||
Debt Instrument, Unamortized Discount | $ 52,392 | 0 | |||||||
Notes Payable, Noncurrent | 4,500,000 | ||||||||
Amortization of Debt Discount (Premium) | 162,353 | 107,153 | |||||||
Unrelated Party [Member] | Promissory Notes [Member] | Broker [Member] | |||||||||
Debt Instrument, Fee Amount | $ 40,000 | $ 7,500 | |||||||
Accredited Investors [Member] | February 2018 Convertible Notes [Member] | Convertible Debt [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8% | ||||||||
Debt Instrument, Face Amount | $ 810,000 | ||||||||
Repayments of Debt | $ 159,140 | ||||||||
Notes Payable, Current | $ 0 | $ 150,000 | $ 150,000 | ||||||
Interest Payable, Current | $ 9,140 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | ||||||
Jul. 26, 2019 | Aug. 15, 2018 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2019 | |
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | $ 337,884 | $ 0 | $ 0 | ||||
Lessee, Operating Lease, Term of Contract (Year) | 43 years | ||||||
Tenant Receivable, Current | $ 103,450 | 251,462 | 251,462 | ||||
Interest Payable, Current | 40,686 | 53,964 | 53,964 | ||||
Operating Expenses | 1,924,360 | 2,399,142 | |||||
Operating Lease, Expense | 481,375 | 475,249 | |||||
Office Space in Denver, CO [Member] | |||||||
Operating Lease, Expense | 30,000 | 30,000 | |||||
BASK [Member] | |||||||
Note receivable from BASK, interest rate of 18.0%; monthly principal and interest payments of $4,422, maturing in 2023. | $ 129,634 | 0 | 43,185 | 43,185 | |||
Interest Receivable | $ 44,517 | ||||||
Note Receivable, Term | 5 years | ||||||
Note Receivable, Interest Rate | 18% | ||||||
Tenant Receivable, Current | 103,450 | 103,450 | $ 251,462 | ||||
BASK [Member] | Lease Agreement [Member] | |||||||
Lessee, Operating Lease, Term of Contract (Year) | 15 years | ||||||
Annual Base Rent | $ 138,762 | ||||||
Operating Lease, Percentage of Leassee's Gross Revenue | 15% | ||||||
Tenant Receivable, Current | 103,450 | ||||||
Strategic Capital Partners [Member] | |||||||
Notes Payable, Current | $ 1,756,646 | ||||||
Strategic Capital Partners [Member] | Promissory Note Two [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 9% | ||||||
Strategic Capital Partners [Member] | Promissory Notes [Member] | |||||||
Interest Payable, Current | 0 | 4,303 | 4,303 | ||||
Notes Payable | 581,646 | ||||||
Strategic Capital Partners [Member] | Consulting Services [Member] | |||||||
Operating Expenses | 180,000 | ||||||
Related Party Transaction, Amounts of Transaction | 247,500 | ||||||
Accounts Payable | $ 15,000 | $ 82,500 | $ 82,500 |
Note 7 - Loss Per Share (Detail
Note 7 - Loss Per Share (Details Textual) - shares | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,700,000 | 1,700,000 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,148,000 | 4,026,650 |
Convertible Debt Securities [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 100,000 |
Note 7 - Loss Per Share - Sched
Note 7 - Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Net loss attributable to common stockholders | $ (94,755) | $ (173,244) |
Basic weighted average outstanding shares of common stock (in shares) | 24,391,961 | 24,333,911 |
Dilutive effects of common share equivalents (in shares) | 0 | 0 |
Dilutive weighted average outstanding shares of common stock (in shares) | 24,391,961 | 24,333,911 |
Basic and diluted (loss) income per common share (in dollars per share) | $ 0 | $ (0.01) |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating Loss Carryforwards | $ 11,037,777 | $ 11,383,482 |
Deferred Tax Assets, Tax Effect, Net Operating Loss and Other Temporary Differences | $ 2,539,487 | 2,651,840 |
Deferred Tax Assets, Valuation Allowance, Percent Offset | 100% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (112,353) | $ (92,833) |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Deferred tax assets | $ 2,539,487 | $ 2,651,840 |
Deferred tax liabilities | 0 | 0 |
Valuation allowance | (2,539,487) | (2,651,840) |
Net deferred tax assets/(liabilities) | $ 0 | $ 0 |
Note 8 - Income Taxes - Tempora
Note 8 - Income Taxes - Temporary Differences Between Basis and Reported Deferred Tax Assets (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Net operating loss | $ 94,755 | $ 173,244 |
Net operating loss, tax effect | 29,185 | 53,550 |
Net operating loss, tax effect | 29,185 | 53,550 |
Tax impact true up, temporary difference | 0 | 0 |
Tax impact true up, tax effect | 0 | 0 |
Other temporary differences, temporary difference | (438,313) | (721,657) |
Other temporary differences, tax effect | (135,000) | (223,064) |
Net deferred tax assets, temporary difference | (343,558) | (548,413) |
Net deferred tax assets, tax effect | (105,815) | (169,514) |
Valuation allowance, temporary difference | 343,558 | 548,413 |
Valuation allowance, tax effect | 105,815 | 169,514 |
Total deferred tax asset | 0 | 0 |
Deferred tax liabilities | 0 | 0 |
Total net deferred tax asset | $ 0 | $ 0 |
Note 8 - Income Taxes - Schedul
Note 8 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
U.S. Federal statutory graduated rate | 21% | 21% |
State income tax rate, net of federal benefit | 9.80% | 9.91% |
Total rate | 30.80% | 30.91% |
Less: Net operating loss for which no benefit is currently available | (30.80%) | (30.91%) |
Net effective rate | 0% | 0% |
Note 9 - Equity (Details Textua
Note 9 - Equity (Details Textual) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2021 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2021 | Aug. 18, 2017 | |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | ||||
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 | ||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 0 | 195,651 | ||||
Stock Issued During Period, Value, Issued for Services | $ 90,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||||
Warrants Issued for Notes Amendment [Member] | ||||||
Warrants Revaluation Expense | $ 255,600 | |||||
Share-Based Payment Arrangement, Option [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 119,346 | |||||
Stock Incentive Plan [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized | 2,500,000 |
Note 9 - Equity - Stock Option
Note 9 - Equity - Stock Option Activity (Details) | 12 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Shares Exercisable (in shares) | shares | 1,700,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 1.94 |
Exercisable, weighted average contractual term (Year) | 4 years 8 months 12 days |
Shares Outstanding (in shares) | shares | 1,700,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 1.94 |
Outstanding, weighted average contractual term (Year) | 3 years 4 months 24 days |
Shares Vested and expected to vest (in shares) | shares | 1,700,000 |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 1.94 |
Vested and expected to vest, weighted average contractual term (Year) | 3 years 4 months 24 days |
Exercisable, weighted average contractual term (Year) | 3 years 4 months 24 days |
Note 9 - Equity - Warrant Activ
Note 9 - Equity - Warrant Activity (Details) - $ / shares | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Outstanding, warrants (in shares) | 2,148,000 | 4,026,650 |
Outstanding, warrants, weighted average exercise price (in dollars per share) | $ 1.33 | $ 1.4 |
Outstanding, warrants, weighted average remaining contract term (Year) | 1 year 1 month 17 days | 1 year 2 months 12 days |
Expired, warrants (in shares) | (1,878,650) | |
Expired, warrants, weighted average exercise price (in dollars per share) | $ 1.48 | |
Outstanding, warrants (in shares) | 2,148,000 | |
Outstanding, warrants, weighted average exercise price (in dollars per share) | $ 1.33 | |
Exercisable, warrants (in shares) | 2,148,000 | |
Exercisable, warrants, weighted average exercise price (in dollars per share) | $ 1.33 | |
Exercisable, warrants, weighted average remaining contract term (Year) | 1 year 1 month 17 days |
Note 10 - Commitments and Con_3
Note 10 - Commitments and Contingencies (Details Textual) | 12 Months Ended | |||||
Sep. 01, 2019 | Oct. 17, 2016 USD ($) a | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) | Oct. 01, 2019 USD ($) | |
Lessee, Operating Lease, Term of Contract (Year) | 43 years | |||||
Operating Lease, Right-of-Use Asset | $ 6,708,843 | $ 6,778,085 | $ 6,778,085 | $ 6,980,957 | ||
Operating Lease, Liability | 4,216,593 | 4,256,869 | ||||
Operating Lease, Liability, Current | 12,204 | 11,283 | 11,283 | |||
Operating Lease, Liability, Noncurrent | 4,204,389 | 4,216,596 | 4,216,596 | |||
Operating Lease, Expense | 481,375 | $ 475,249 | ||||
Office Space in Denver, CO [Member] | ||||||
Operating Cash Flows from Operating Leases | 341,450 | |||||
Operating Leases, Monthly Payment | 2,500 | |||||
Operating Lease, Expense | $ 30,000 | $ 30,000 | ||||
BASK [Member] | ||||||
Lessee, Operating Sublease, Term (Year) | 15 years | |||||
Lessee, Operating Sublease, Percentage of Gross Revenues | 15% | |||||
Sale Leaseback to MMP [Member] | ||||||
Lessee, Operating Lease, Term of Contract (Year) | 50 years | |||||
Lessee Leasing Arrangements, Operating Leases, Number of Renewal Periods | 4 | |||||
Lessee, Operating Lease, Renewal Term (Year) | 10 years | |||||
Sale Leaseback Transaction, Monthly Rental Payments | $ 30,000 | |||||
Sale Leaseback Transaction, Monthly Rental Payments, Per Square Foot | 0.38 | |||||
Sale Leaseback Transaction, Monthly Rental Payments, Percentage of Gross Monthly Sales | 1.50% | |||||
Sale Leaseback Transaction, Monthly Rental Payments, Adjustment Period | 5 years | |||||
Sale Leaseback to MMP [Member] | Accounting Standards Update 2016-02 [Member] | ||||||
Operating Lease, Right-of-Use Asset | 2,724,088 | |||||
Operating Lease, Liability, Total | $ 2,724,088 | |||||
Massachusetts Land Purchase [Member] | ||||||
Area of Land (Acre) | a | 52.6 |
Note 10 - Commitments and Con_4
Note 10 - Commitments and Contingencies - Lease Related Terms and Discount Rates (Details) | Sep. 30, 2023 |
Operating leases (Year) | 43 years |
Operating leases | 7.90% |
Note 10 - Commitments and Con_5
Note 10 - Commitments and Contingencies - Future Rental Payments Under Operating Leases (Details) - USD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Oct. 01, 2019 |
2023 | $ 341,500 | ||
2024 | 341,500 | ||
2025 | 341,500 | ||
2026 | 341,500 | ||
2027 | 341,500 | ||
Thereafter | 12,977,000 | ||
Total lease payments | 14,684,500 | ||
Less: Interest | (10,467,907) | ||
Operating Lease, Liability | 4,216,593 | $ 4,256,869 | |
Less: operating lease liability, current portion | (12,204) | $ (11,283) | |
Operating lease liability, long term | $ 4,204,389 | $ 4,216,596 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) | Nov. 30, 2023 USD ($) |
Subsequent Event [Member] | |
Loans Payable | $ 4,500,000 |