Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 206

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 206
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-10819). The Company licensed some of its technology to NewAge
pursuant to a license agreement that started in September 2021 and terminated in late 2022. A prior adversarial action was brought by
NewAge in the same bankruptcy case but was never served and was dismissed on June 1, 2023. Like the prior dismissed action, NAI Liquidation
Trust contends that they are the rightful owner of KwikClick’s intellectual property. NAI Liquidation Trust brings several causes
of action related to that contention.

The Company believes that the code base and functionality
of its software platform differs materially from any intellectual property owned by NewAge. The Company intends to vigorously defend and
assert its intellectual property rights. In the event the Company does not prevail it may be required to impair substantially all of its
intangible assets with a carrying value of approximately $1.3 million at December 31, 2023 and may be forced to discontinue its on-going
fee-based sales platform. The litigation is in its early stages, an estimate of reasonably possible loss cannot be made at this time.
As such, there has been no further adjustment to the accompanying consolidated statements of financial position, results of operations,
or cash flows as of and for the twelve months ended December 31, 2024.

If KwikClick is unable to defend itself in the adversary
proceeding, it is unlikely that the Company will be able to continue as a going concern. Other than the reference above, to the knowledge
of management, no director or executive officer is party to any other action in which any party has an interest adverse to us.

ITEM 4.  MINE SAFETY DISCLOSURES

Not applicable.

 23 

PART II

ITEM 5.   MARKET FOR REGISTRANT’S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is currently quoted on the OTCQB
under the trading symbol “KWIK”. Trading in stocks quoted on the OTCQB is often thin and is characterized by wide fluctuations
in trading prices due to many factors that may have little to do with a company’s operations or business prospects. We cannot assure
you that there will be a market for our common stock in the future.

For the periods indicated, the following table sets
forth the high and low bid prices per share of common stock-based on inter-dealer prices,