Company: KWIK
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006139
Chunk: 9

Company: KwikClick, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 9
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has been no further adjustment to the accompanying condensed consolidated statements of financial position, results of operations, or
cash flows as of and for the three and six months ended June 30, 2025.

NOTE 7. SUBSEQUENT EVENTS

The Company has evaluated subsequent events through
the date the condensed consolidated financial statements were issued and has determined that there are no material events that need to
be disclosed, except as follows:

Subsequent to June 30, 2025, Mr. Fred W.
Cooper, Chairman and CEO, provided additional working capital advances totaling $40,000 to the Company. The principal balance of
working capital advances through August 14, 2025  totaled $2,673,677. These advances bear interest of 10% per annum and are
due on demand. Mr. Cooper has informally agreed to defer repayment of these loans until the Company has achieved a more stable
liquidity position, however, he is not legally obligated to continue to do so.

NOTE 8. SEGMENT INFORMATION

The Company has one reportable and operating segment
which provides customers the platform to sell their products or services. The accounting policies of this operating segment are the same
as those described in the summary of significant accounting policies. The Company’s chief operating decision maker (“CODM”)
is its President and CEO.

The
CODM’s measure of segment profit or loss is net income or loss. For purposes of evaluating performance and allocating resources,
the CODM reviews the financial information and evaluates net income against comparable prior periods and the Company’s forecast.
The Company derives nearly all of its revenue from United States of America (“US”) based customers with an immaterial amount
coming from foreign based customers. Additionally, one US-based customer provided the majority of the custom design services revenue recognized
during the three and six months ended June 30, 2025. No other material revenue was recognized from a single customer for the three month
and six ended June 30, 2025 and 2024.

     13 

In addition to the significant expense categories
included within net income or loss presented on the Company's condensed consolidated statements of operations, the following is disaggregated
research and development expenses for the three months ended June 30:

    Schedule of research and development expenses by segment 

    2025  
    2024 
  
    Platform coding and development 
    $13,538  
    $63,641 
  
    Other third-party