Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.22.1
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Minimum Royalty Payments

The Company paid USFRF a License Issue Fee of $6,000 and $953 as reimbursement of expenses associated with the filing of the Licensed Patent. The company agreed to pay USFRF a royalty of 3% for sales of all Licensed Products and Licensed Processes and agreed to pay USFRF minimum royalty payments as follows:

Payment

Year

$1,000

2019

$4,000

2020

$8,000

2021