Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 10

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 1
Chunk 10
---
 company’s issuance of more than $1 billion in nonconvertible debt in the prior three-year period, or

    (iv)
    the
    company becoming a “larger accelerated filer” as defined under the Securities Exchange Act of 1934, as amended.

The
JOBS Act provides additional new guidelines and exemptions for non-reporting companies and for non-public offerings. Those exemptions
that impact the Company are discussed below.

Financial
Disclosure. The financial disclosure in a registration statement filed by an “emerging growth company” pursuant to the
Securities Act of 1933, as amended, will differ from registration statements filed by other companies as follows:

    (i)
    audited
    financial statements required for only two fiscal years (provided that “smaller reporting companies” such as the Company
    are only required to provide two years of financial statements);

    (ii)
    selected
    financial data required for only the fiscal years that were audited (provided that “smaller reporting companies” such
    as the Company are not required to provide selected financial data as required by Item 301 of Regulation S-K); and

    (iii)
    executive
    compensation only needs to be presented in the limited format now required for “smaller reporting companies”

However,
the requirements for financial disclosure provided by Regulation S-K promulgated by the Rules and Regulations of the SEC already provide
certain of these exemptions for smaller reporting companies. The Company is a smaller reporting company. Currently a smaller reporting
company is not required to file as part of its registration statement selected financial data and only needs to include audited financial
statements for its two most current fiscal years with no required tabular disclosure of contractual obligations.

The
JOBS Act also exempts the Company’s independent registered public accounting firm from having to comply with any rules adopted
by the Public Company Accounting Oversight Board (“PCAOB”) after the date of the JOBS Act’s enactment, except as otherwise
required by SEC rule.

The
JOBS Act further exempts an “emerging growth company” from any requirement adopted by the PCAOB for mandatory rotation of
the Company’s accounting firm or for a supplemental auditor report about the audit.

Internal
Control Attestation. The JOBS Act also provides an exemption from the requirement of the Company’s independent registered public
accounting firm to file a report on the Company’s internal control over financial reporting, although management of the Company
is still required to file its report on the adequ