Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 170

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 170
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 warehousing equipment. 

14.
Loss per Share

For
the year ended December 31, 2024, loss per share is $5.84 (basic and diluted) compared to that of the year ended December 31, 2023 of
$8.44 (basic and diluted) using the weighted average number of shares of 2,768,732 (basic and diluted) and 1,768,991 (basic and diluted),
respectively.

There
are 29,900,000
shares authorized with 4,016,205
and 2,032,050
shares issued and outstanding, at December 31, 2024 and 2023, respectively. The computation of loss per share is based on the
weighted average number of shares outstanding during the period in accordance with ASC Topic No. 260, “Earnings Per
Share.” Shares underlying the Company’s outstanding warrants and convertible promissory notes were excluded due to the
anti-dilutive effect they would have on the computation. As of December 31, 2024, the Company has 2,291,276
warrants convertible to 2,321,276
common shares, 117,018
restricted stock to be issued, and 192,784
stock options exercisable for 192,784
common shares for a total underlying common shares of 2,631,078.
As of December 31, 2023, the Company has 1,162,792
warrants convertible to 1,192,792
common shares, 57,021
restricted stock to be issued, and 506,386
stock options exercisable for 506,386
common shares for a total underlying common shares of  1,756,199.

    60

Worksport
Ltd.

Notes
to the Consolidated Financial Statements

December
31, 2024 and 2023

15.
Warrants

During
the year ended December 31, 2024, in connection with the sale of 237,224 shares of common stock, the Company also sold 147,789 pre-funded
warrants and issued 770,026 warrants exercisable for a total of 770,026 shares of common stock for $0.001 and $7.40, respectively, per
share. The Company received net proceeds of $1,093,492 associated with the sale of the pre-funded warrants. The pre-funded warrants are
immediately exerc