What changed in this filing

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Item 7. Management’s Discussion and Analysis

2026-01-13 compared with 2025-02-24 · 71 added, 61 removed, 211 unchanged (38% of the section changed)

30 unchanged sentences

years ended September 30, 2025 and 2024 are summarized as follows:

Income (expense)

for the year ended September 30, 2024 was $460,991, as compared to $307,284 for the year ended September 30, 2023, an increase of $153,707

primarily due to a $149,248 increase in rental revenue.

September 30,

Cost of revenue

Operating expense

Operating loss

Other Income (expense)

Revenues for the year

ended September 30, 2025 was $987,937, as compared to $460,661 for the year ended September 30, 2024, an increase of $526,946 primarily

due to a $526,946 increase in rental revenue as a result of the addition of 6 vehicles to the pool of vehicles available for rental during

the fiscal year ending September 30, 2025 and a total of 32 vehicles added over the past twenty-four months.

Operating expenses for the year

ended September 30, 2025 were $1,004,196 as compared to $706,416 for the year ended September 30, 2024.

The decrease of $124,560 was primarily

attributable to a $29,730 decrease in salaries and payroll taxes, and a $94,664 decrease in professional fees.

The increase of $297,780 was primarily

attributable to a $78,155 increase in salaries and payroll taxes, a $74,173 increase in software development costs, a $258,459 increase

in stock compensation expense, and a $1,496 decrease in professional fees, a $104,692 decrease in general and administrative, and a $6,819

decrease in advertising costs.

Operating loss was $868,503 for

1 unchanged sentence

The increase of $300,348 was largely

attributable to a decrease in professional fees, salaries, and payroll taxes and a large increase in rental revenue.

Other income (expenses) for year ended September 30, 2024 were ($1,680,088),

as compared to ($167,682) for the year ended September 30, 2023.

The increase of $1,512,406 was attributable to increases in amortization

debt discount of $271,667, change in fair value of derivative liability of $512,474, amortization of deferred financing costs of $201,236,

and interest expense of $563,342.

attributable to an increase in operating expenses and a large increase in rental revenue.

Other income (expenses) for year ended September 30,

2025 were ($4,033,977), as compared to ($1,680,088) for the year ended September 30, 2024.

The increase of $2,353,889 was attributable

to increases in gain or (loss) on disposition of assets of $16,212, change in fair value of derivative liability of $2,534,715, amortization

of deferred financing costs of $35,716, financing cost of $24,999, and decreases in amortization of debt discount of $143,274 and interest

expense of $114,479.

Liquidity and Capital Resources:

7 unchanged sentences

Working capital (deficiency)

As of September 30, 2024 and September 30, 2023, our total current assets

net of restricted cash were $37,996 and $16,216 which were comprised of $33,588 and $4,632 in cash, $1,438 and $11,584 in accounts receivable

and $2,970 and $0 in prepaid expenses, respectively.

of September 30, 2024, our current liabilities were $4,373,184 which were comprised of $994,270

in accounts payable and accrued liabilities, $12,752 in accrued interest – related

party, $3,306 in deferred revenue, $1,339 in customer deposits, $25,080 in due to related

party, $270,000 in promissory notes payable in default, $42,500 in promissory notes payable

– related parties, $1,597,312 in convertible notes payable, and $1,386,014 in derivative

As of September 30, 2023 our current liabilities were $1,878,080 which were

comprised of $664,707 in accounts payable and accrued liabilities, $4,918 in accrued interest

– related party, $7,233 in deferred revenue, $2,234 in customer deposits, $25,080 in

due to related party, $27,437 in promissory notes payable, $12,500 in promissory notes payable

in default, $50,000 in promissory notes payable – related parties, $1,082,654 in convertible

notes payable, and $1,317 in derivative liability.

As of September 30, 2024 and September 30, 2023, our working capital deficiency

was $4,335,188 and $1,861,864, respectively.

As of September 30, 2025 and September 30, 2024, our

total current assets net of restricted cash were $82,462 and $37,996 which were comprised of $39,930 and $33,588 in cash, $42,532 and

$1,438 in accounts receivable and $0 and $2,970 in prepaid expenses, respectively.

As of September 30, 2025, our

current liabilities were $9,070,576 which were comprised of $1,682,958 in accounts payable and accrued liabilities, $21,252 in accrued

interest – related party, $15,740 in deferred revenue, $26,380 in due to related party, $20,000 in promissory notes payable in default,

$42,500 in promissory notes payable – related parties, $1,693,877 in convertible notes payable, $450,000 in convertible notes payable,

in default, and $4,454,765 in derivative liability.

As of September 30, 2024 our current liabilities were $4,373,184 which were comprised

of $994,270 in accounts payable and accrued liabilities, $12,752 in accrued interest – related party, $3,306 in deferred revenue,

$1,339 in customer deposits, $25,080 in due to related party, $270,000 in promissory notes payable, $42,500 in promissory notes payable

in default, $1,597,312 in convertible notes payable, and $1,386,014 in derivative liability.

As of September 30, 2025 and

September 30, 2024, our working capital deficiency was $8,988,114 and $4,335,188, respectively.

Cash Flow Data:

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Cash Flows from Operating Activities

During the year ended September 30, 2024 the company did not generate positive

cash flows from operating activities.

For the year ended September 30, 2024 net cash flows used in operating activities was $424,379 consisting

of a net loss of $2,248,243, reduced by amortization debt discount of $393,964, amortization and depreciation of $57,324, gain on change

in fair value of derivative liability of $342,751, amortization of deferred financing costs of $201,236, discount on lines of credit of

$(85,000), addition to derivative liability of $686,102, discount on notes payable of $(112,246), and a change in operating assets and

liabilities of $339,751.

During the year ended September

1 unchanged sentence

For the year ended September 30, 2025 net cash flows

used in operating activities was $445,105 consisting of a net loss of $930,137, reduced by stock-based compensation expenses of $15,000,

amortization debt discount of $122,279, depreciation of $36,783, a loss on debt extinguishment of $36,313, a change in operating assets

and liabilities of $444,380, and gain on change in fair value of derivative liability of $169,723.

used in operating activities was $477,743 consisting of a net loss of $4,902,480, reduced by amortization debt discount of $250,672, amortization

and depreciation of $144,962, loss on change in fair value of derivative liability of $2,877,466, amortization of deferred financing costs

of $236,952, loss on sale of fixed assets of $16,212, and a change in operating assets and liabilities of $640,014.

During the year ended September

30, 2024 the company did not generate positive cash flows from operating activities.

For the year ended September 30, 2024 net cash flows

used in operating activities was $424,379 consisting of a net loss of $2,248,243, reduced by amortization debt discount of $393,964, amortization

and depreciation of $57,324, gain on change in fair value of derivative liability of $342,751, amortization of deferred financing costs

of $201,236, discount on lines of credit of $(85,000), addition to derivative liability of $686,102, discount on notes payable of $(112,246),

and a change in operating assets and liabilities of $339,751.

Cash Flows from Investing Activities

2 unchanged sentences

During the year ended September

30, 2023 the Company purchased two vehicles for $67,039 and developed a website for a total of $5,833.

30, 2024 the Company purchased 26 vehicles for $642,647.

Cash Flows from Financing Activities

During the year ended September 30, 2024, the Company generated $23,000 from the

sale of common stock, $100,000 from the sale of warrants, $454,250 from the issuance of notes payable, and $655,882 from lines of credit.

During the year ended

September 30, 2025, the Company generated $26,500 from the sale of common stock, $50,000 from the sale of warrants, $1,300 from

related party advances, $248,888 from the issuance of convertible notes payable, and $379,600 from the issuance of promissory notes.

These proceeds were partially offset by repayments on notes payable of $256,348.

During the year ended September

30, 2023, the Company generated $310,000 from the issuance of convertible notes, $104,458 from the promissory notes, $50,000 from related

party notes payable, and $26,460 from related party advances.

These proceeds were partially offset by repayments on related party advances,

promissory notes payable, and payments for debt issuance costs of $1,460, $42,011, and $33,388, respectively.

30, 2024, the Company generated $23,000 from the sale of common stock, $100,000 from the sale of warrants, $454,250 from the issuance

of notes payable, and $655,882 from lines of credit.

These proceeds were partially offset by repayments on notes payable of $155,709.

Going Concern

As of September 30, 2024, the Company had a net loss of $2,248,243 accumulated

deficit of $5,559,139 and did not have sufficient cash on hand to cover expenses for the next twelve (12) months.

The Company intends

to convert its convertible debt into common stock and to fund operations through equity financing arrangements, which may be insufficient

to fund its capital expenditures, working capital and other cash requirements for the year ending September 30, 2025.

As of September 30, 2025, the

Company had a net loss of $4,902,480 accumulated deficit of $10,461,619 and did not have sufficient cash on hand to cover expenses for

the next twelve (12) months.

The Company intends to convert its convertible debt into common stock and to fund operations through equity

financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the

year ending September 30, 2025.

The ability of our Company to

91 unchanged sentences

date and relate to usages after that date.

As of September 30, 2024 and 2023 refundable deposits

were $1,339 and $2,234 and deferred revenue was $3,306 and $7,233, respectively.

As of September 30, 2025 and 2024 refundable deposits were $0 and $1,339 and deferred revenue

was $15,740 and $3,306, respectively.

In addition to the costs associated with rental revenue

3 unchanged sentences

Stock-Based Compensation

The Company recognizes compensation expense for all

restricted stock awards and stock options.

The fair value of restricted stock awards is measured using the grant date fair value of our

stock, as determined by the Board of Directors.

The fair value of stock options is estimated at the grant date using the Black-Scholes

option-pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service

We have elected to recognize compensation expense for all options with graded vesting on a straight-line basis over the vesting

period of the entire option.

The determination of fair value using the Black Scholes pricing model is affected by our stock value as well

as assumptions regarding a number of complex and subjective variables, including expected stock price volatility and the risk-free interest

The Company recognizes compensation expense for all restricted stock awards

and stock options.

During the year ended September 30, 2025, the Company recognized $258,459 in stock compensation expense.

The fair value

of restricted stock awards is measured using the grant date fair value of our stock, as determined by the Board of Directors.

value of stock options is estimated at the grant date using the Black-Scholes option-pricing model, and the portion that is ultimately

expected to vest is recognized as compensation cost over the requisite service period.

We have elected to recognize compensation expense

for all options with graded vesting on a straight-line basis over the vesting period of the entire option.

The determination of fair value

using the Black Scholes pricing model is affected by our stock value as well as assumptions regarding a number of complex and subjective

variables, including expected stock price volatility and the risk-free interest rate.

Fair Value Measurements

49 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 7. Management’s Discussion and Analysis