Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 124

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 124
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, 2023 - renewed effective June 1, 2024 at $3,600 USD per month with a termination date of May 31, 2025.

    (4)
    Three-year
    lease dated April 16, 2021 and terminated on May 31,f 2024 for $23,971 CAD per month.

ITEM
3. LEGAL PROCEEDINGS

From
time to time, we are involved in lawsuits, claims, investigations, and proceedings, including pending opposition proceedings involving
patents that arise in the ordinary course of business. We are not presently a party to any material pending or threatened legal proceedings,
nor do we have any knowledge of any such pending claim.

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

30

PART
II

ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market
Information

Our
common stock commenced trading on The Nasdaq Capital Market under the symbol “WKSP” on August 4, 2021. Prior to trading on
Nasdaq, our common stock was quoted on the OTCQB Market under the symbol “WKSP.”

Holders
of Common Stock

On
March 27, 2025, there were 344 holders of record of our common stock.

Stock
Transfer Agent

Our
transfer agent is Vstock Transfer, LLC., located at 18 Lafayette Place, Woodmere, NY 11598. Their telephone number is (212) 828-8436.

Dividend
Policy

We
do not expect to pay cash dividends in the foreseeable future. Any future decision to pay dividends will be at the discretion of our
board and will depend, among other things, on earnings, financial condition, level of indebtedness, provisions of our existing credit
agreements and other factors that our board deems relevant.

31

Unregistered
Sales of Equity Securities

    ●
    Warrants
    to purchase 770,026 shares of common stock of the Company at an exercise price of $7.40 per share, subject to adjustment for reverse
    stock splits, recapitalizations and reorganizations, which are exercisable six months after the date of issuance, or September 20,
    2024, until the five and a half-year anniversary date of the date of issuance, or September 20, 202