Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 180

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 180
---

    On March 18, 2025, Worksport effectuated a 1-for-10 reverse stock split
of its common stock. The Company’s common stock continues to trade on the Nasdaq under the Company’s existing trading symbol,
“WKSP”, and a new CUSIP number, 98139Q308, was assigned as a result of the reverse stock split.

65

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM
9A. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures.

We
maintain disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Disclosure controls
and procedures are controls and other procedures designed to ensure that the information required to be disclosed by us in the reports
that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the
SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure
that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated
to our management, including our principal executive officer and our principal financial officer, as appropriate, to allow timely decisions
regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls
and procedures, no matter how well designed and operated, can provide only reasonable and not absolute assurance of achieving the desired
control objectives, and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls
and procedures.

Based
on our management’s evaluation (with the participation of the individuals serving as our principal executive officer and principal
financial officer) of our disclosure controls and procedures as required by Rules 13a-15 and 15d-15 under the Exchange Act, each of the
individuals serving as our principal executive officer and principal financial officer has concluded that our disclosure controls and
procedures were not effective at the reasonable assurance level as of December 31, 2024, the end of the period covered by
this Annual Report on Form 10-K.

Management’s
Report on Internal Control over Financial Reporting.

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f)
and 15d-15(f)