Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 332

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 6
Chunk 332
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 certain of its professional service providers. The balance due on these prepaid retainers was $2,155 as of
September 30, 2025, and $18,749 for the year ended September 30, 2024. The Company recognizes the expense from these retainers as they
are invoiced, and the invoiced charges are deducted from the various providers’ prepaid retainer balances.

NOTE
6. INTANGIBLE ASSETS

The
Company acquired certain patents and technology from Digifonica in December 2013 (Note 4). These assets have been recorded in the consolidated
financial statements as intangible assets. These assets are being amortized over twelve (12) years on a straight-line basis.

As
at September 30, 2024, the Company concluded that the carrying value of the intangible assets were fully impaired based on its estimate
of fair value is lower than the carrying value of the intangible asset.

A
summary of intangible assets as of September 30, 2025 and September 30, 2024 is as follows:

SCHEDULE OF INTANGIBLE ASSETS 

    September 30, 2025  
    September 30,  2024 
  
    VoIP Intellectual property and patents 
    $-  
    $1,552,416 
  
    Impairment 
     -  
     (157,450)
  
    Accumulated amortization 
            -  
     (1,394,966)
  
    Net book value 
    $-  
    $- 

There
were no disposals of any intangible assets in the years presented.

NOTE
7. LOAN PAYABLE

The
Company issued 50,000,000 restricted shares of the Company’s common stock to a related party during the year 2022 and 2023 at a
price of $0.005. In connection with certain allegations arising under the Securities Exchange Act of 1934, as amended the related party
surrendered the Shares to the Corporation for cancellation in consideration for issuance of an unsecured promissory note of the Company
in the principal amount of $250,000.

On
January 31, 2024, the Company entered into a Promissory note Agreement (the “Note”). The related party waives the right to
receive any interest on the principal amount of the Note and the Note is due on demand. On March 20,