Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 37

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 of a sale of the Company or substantially
all its assets, or a major licensing transaction. In order to provide maximum flexibility to the Company with respect to determining
the level of Performance Bonus payable, and who may qualify to receive a pro-rata share of such a Performance Bonus, the Company authorized
full discretion to the Board in making such determinations.

In
2019, the board of directors authorized the increase of the Performance Bonus to up to 10% of the capital stock of the Company, and also
authorized 66.67% of the Performance Bonus to be issued in an advance payment of an aggregate 127,000,000 Common shares (“Bonus
Shares”) to members of management, a director and several consultants. 30,000,000 of the issued Bonus Shares continue to be restricted
from trading under Rule 144 as well as subject to a voluntary lock-up agreement under which the shares cannot be sold or transferred
by the holders until such time as the Company has met the requirements of the bonusable event as described above.

As
at December 31, 2024, no bonusable event has occurred and there is no Performance Bonus payable.

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the three months ending December 31, 2024. We cannot
assure you that future inflation will not have an adverse impact on our operating results and financial condition.

22

    Item
    3. 
    Quantitative
    and Qualitative Disclosures About Market Risk.

As
a smaller reporting company, we are not required to provide the information required by this Item.

    Item
    4. 
    Controls
    and Procedures.

Evaluation
of Disclosure Controls and Procedures

At
the end of the period covered by this Report for the three month period ended December 31, 2024, an evaluation was carried out under
the supervision of, and with the participation of, the Company’s management, including its Chief Executive Officer (“CEO”)
and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of the Company’s disclosure
controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Exchange Act). Based upon that evaluation, the Company’s
CEO and CFO have concluded that the disclosure controls and procedures were effective to give reasonable assurance that the information
required to be disclosed by the Company in reports that it files