Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 58

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 1
Chunk 58
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) was charged against income from
all options and warrants issued and vested, including the incremental cost resulting from the option and warrant modifications.

As
at September 30, 2025, the aggregate intrinsic value of the Company’s stock options is $2,113,650 (2024 - $1,173,900), and the
total intrinsic value of options exercised during the year ended September 30, 2025 was $38,500 (2024 - $189,000).

As
at September 30, 2025, the aggregate intrinsic value of the Company’s common share purchase warrants outstanding is $37,732,210
(2024 - $18,116,034), the aggregate intrinsic value of the common share purchase warrants exercisable is $33,635,810 (2024 - $16,196,634),
and the total intrinsic value of common share purchase warrants exercised during the year ended September 30, 2025 was $58,500 (2024
- $189,000).

NOTE
12. OTHER ITEMS

For
the year ended September 30, 2025, other items included gain on settlement of accounts payable of $17,603.

For
the year ended September 30, 2024, other items included impairment on intangible assets of $157,450 and a loss of $351,000 on settlement
of litigation.

    33

VOIP-PAL.COM
INC.

Notes
to the Consolidated Financial Statements

(Expressed
in United States Dollars)

September
30, 2025

NOTE
13. INCOME TAXES

The
Company and its subsidiary file consolidated Federal and state income tax returns. The Company is registered in the State of Nevada which
has no corporate income tax.

Certain
tax years are subject to examination by the Internal Revenue Service and state taxing authorities. The Company does not believe there
would be any material adjustments upon such examination.

As
of September 30, 2025 and 2024, the Company had net operating loss carryforwards of approximately $84,718,000 and $91,501,000 respectively,
to reduce Federal income tax liabilities.

A
reconciliation of income taxes at statutory rates with the reported taxes is as follows:

 SCHEDULE OF RECONCILIATION OF INCOME TAXES EXPENSES

    2025  
    2024 
  
    Loss for the year 
    $(6,227,153) 
    $(10