Convertible Note Receivable	12 Months Ended
Sep. 30, 2023
Convertible Note Receivable
Convertible Note Receivable	Note 9. Convertible Note Receivable On November 20, 2020, the Company invested $7,500 in a convertible note receivable from and unrelated entity developing a freemium gaming concept that combines online auctions and gift card purchasing. The note matured on November 20, 2022, carried an interest rate of 4% per annum and was convertible into 1.25% of the entity’s stock at the Company’s option. As of September 30, 2022, the Company wrote off the principal balance of $7,500 plus accrued interest receivable of $254 to bad debt expense.

Convertible Note Receivable

12 Months Ended

Sep. 30, 2023

Note 9. Convertible Note Receivable

On November 20, 2020, the Company invested $7,500 in a convertible note receivable from and unrelated entity developing a freemium gaming concept that combines online auctions and gift card purchasing. The note matured on November 20, 2022, carried an interest rate of 4% per annum and was convertible into 1.25% of the entity’s stock at the Company’s option. As of September 30, 2022, the Company wrote off the principal balance of $7,500 plus accrued interest receivable of $254 to bad debt expense.

VIRTUAL INTERACTIVE TECHNOLOGIES CORP. 10-K