Company: WKSP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010837
Chunk: 27

Company: Worksport Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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    Canada 
     12,456  
     -  
     12,456  
     17,806  
     2,201  
     20,007 
  
    Total Revenues 
    $2,118,364  
    $121,641  
    $2,240,005  
    $35,782  
    $476,855  
    $512,637 
  
    Revenues 
    $2,118,364  
    $121,641  
    $2,240,005  
    $35,782  
    $476,855  
    $512,637 

No
asset information has been provided for the reported segments as the CODM does not regularly review asset information by reportable segment.
As of March 31, 2025 and December 31, 2024, assets held in the U.S. accounted for 89% and 88% of total assets, respectively.

18.
Commitments and Contingencies

There
are no legal proceedings except for routine litigation incidental to the business.

19.
Subsequent Events

The
Company has evaluated subsequent events through May 15, 2025. The following events occurred after the three months ended March 31, 2025:

●On
                                            April 1, 2025, the Company signed a lease agreement for 12,500 square feet of office space
                                            to be used as an R&D facility pursuant to a three-year lease effective May 1, 2025, for
                                            an average monthly rent of $9,659.

16

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This
section and other parts of this Quarterly Report on Form 10-Q (“Form 10-Q”) contain forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide
current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical
or current fact. Forward-looking statements can also be identified by words such as “future,” “anticipates,”
“believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,”
“will,” “would,” “could,” “can,” “may,” and similar terms. Forward-looking
statements are not guarantees of future performance and