Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 87

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 87
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 we announced a significant expansion in production capacity to accommodate the increasing demand for our SOLIS Solar
Tonneau Cover and AL4 Premium Tonneau Cover. The expansion includes scaling manufacturing operations at our facilities, optimizing supply
chain logistics, and enhancing production efficiency to meet growing customer orders.

    ●
    In
    September and October 2024, we introduced new product models, including an innovative tonneau cover for the Rivian R1T and the HD3
    Premium Tri-Fold Cover, an enhancement of our AL4 series. These new offerings strengthen our competitive position in the aftermarket
    automotive accessories segment, catering to a broader range of vehicle owners seeking high-quality, durable tonneau covers.

    ●
    On
    October 3, 2024, we secured our first direct sales order from a U.S. government agency, marking a significant milestone in our B2B
    sales strategy. This initiative expands our commercial distribution network, opening new revenue channels with government agencies
    and fleet operators.

    ●
    On
    September 30, 2024, we provided updates on our progress toward ISO 9000 certification, reinforcing our commitment to enhancing manufacturing
    quality and ensuring compliance with global production standards.

    ●
    On
    July 11, 2024, we announced a new dealer portal, and provided an update on Worksport business-to-business sales. Visit www.worksportdealer.com
    for more information.

    ●
    On
    June 26, 2024, we announced a development in our maximum power point tracking (MPPT) algorithm that greatly expands the compatibility
    and complementarity of our SOLIS Solar Tonneau Cover such that it can be used with a diverse array of portable power stations and
    power banks.

    ●
    On
    June 20, 2024, we announced a record sales month for the Company, achieving $739,417 in single-month sales for May 2024 (unaudited).
    May 2024 sales were 332% higher than the monthly average of Q1 2024, underscoring Worksport’s rapidly growing sales trajectory.

    ●
    On
    June 5, 2024, we announced the formation of a sales partnership with a prominent Midwest distributor within the automotive industry.

    ●
    On
    May 29, 2024, we announced the issuance of a new utility patent from the United States Patent & Trademark Office