Cash and Cash Equivalents |
3 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Cash and Cash Equivalents | |
| Cash and Cash Equivalents |
3. Cash and Cash Equivalents
Highly liquid investments with a maturity of three months or less when purchased are considered to be cash equivalents. As of December 31, 2024 and September 30, 2024, there were no cash equivalents.
Cash deposit accounts are maintained at financial institutions and, at times, balances may exceed federally insured limits guaranteed by the FDIC. During 2023, the Company entered into enhanced deposit arrangements with two financial institutions in which monies are deposited through a brokerage account and are further placed on deposit by the broker amongst U.S. banks pre-screened by the broker in amounts per bank that do not exceed the individual $250 FDIC per depositor limit. The aggregate amount of all funds on deposit under these accounts was $14,666 and $14,515 as of December 31, 2024 and September 30, 2024, respectively. The Company also holds funds in various other bank accounts that may exceed FDIC insured limits. These uninsured amounts, in aggregate, were $3,831 and $5,194 as of December 31, 2024 and September 30, 2024, respectively. We have never experienced any material losses related to cash on deposit with banks. |