Quarterly report pursuant to Section 13 or 15(d)

Asset Purchase of Intellectual Property (Tables)

v3.24.1.1.u2
Asset Purchase of Intellectual Property (Tables)
6 Months Ended
Mar. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of the Value of Intangible Assets

As of March 31, 2024 the value of intangible assets is:

 

   

March 31,

2024

    April 2,
2023
 
             
Intangible Assets – Intellectual Property   $ 1,113     $ -  
Change in Fair Value of Contingent Liability     3       -  
Amortization of Intangible Assets     (27 )     -  
Net Intangible Assets   $ 1,089     $ -  
Schedule of Assumption Used for Option Pricing Model Initial Measurement

The fair value of the contingent liability was determined using the Black-Scholes option pricing model based on the management projected earnout units sold for the earnout period term in conjunction with the earnout units defined pursuant to the asset purchase agreement. The additional assumptions used for the option pricing model for the initial measurement period of January 18, 2024 and the period ended March 31, 2024 are included below.

 

    Initial Date     Period Ended  
    Measurement Date  
    Initial Date     Period Ended  
Assumptions   January 18, 2024     March 31, 2024  
             
Earnout Unit Discount Rate     12.01 %     12.38 %
Period End Date     7/18/2025       7/18/2025  
Term to Expiry (years)     1.5       1.3  
Volatility     30.0 %     30.0 %
Risk Free Rate     5.00 %     5.27 %
Dividend Yield     -       -  
Payoff Discount Rate     6.35 %     6.10 %
Expected Payment Date     8/2/2025       8/2/2025  
                 
Indicated Fair Value of Earnout (rounded)   $ 83,000     $ 86,000