Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 35

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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The
Company had no revenues, cost of revenues or gross margin for the three months ending December 31, 2024 and 2023.

GENERAL
AND ADMINISTRATIVE EXPENSES

General
and administrative expenses for the three months ending December 31, 2024 totaled $511,740 compared to $533,754 during the same period
in 2023. The decrease in general and administrative expenses of $22,014 or -4% less than the previous period was primarily due to a decrease
in officers and directors’ fees and legal fees.

AMORTIZATION
AND DEPRECIATION

Amortization
of intellectual VoIP communications patent properties and depreciation of capital equipment for the three months ending December 31,
2024 totaled $nil compared to $35,115 during the same period in 2023.

The
Company follows GAAP (ASC 350) and is amortizing its intangibles over the remaining patent life of twelve (12) years. The Company evaluates
its intangible assets annually and determines if the fair market value is less than its historical cost. If the fair market value is
less, then impairment expense is recorded on the Company’s financial statements. The intangible assets on the financial statements
of the Company relate primarily to the Company’s acquisition of Digifonica (International) Limited.

OTHER
ITEMS

Other
items for the three months ending December 31, 2024, totaled $Nil, compared to $Nil during the same periods in 2023.

INTEREST
EXPENSE

The
Company had no financing or interest costs for the three months ending December 31, 2024 and 2023.

NET
LOSS

The
Company reported a net loss of $511,740 for the three months ending December 31, 2024 compared to a net loss of $568,869 for the same
period in 2023. The decrease in net loss of $57,129, or -10% less than the same period in 2022, was primarily due to a decrease in officers
and directors’ fees and legal fees.

LIQUIDITY
AND CAPITAL RESOURCES

As
of December 31, 2024, the Company had an accumulated deficit of $103,869,522 as compared to an accumulated deficit of $103,357,782 at
September 30, 2024. As of December 31, 2024, the Company had a working capital of $1,747