Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 27

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 Company and a warrant holder reached an agreement to extend the exercisable period of 30,000 warrants,
convertible to 2 shares of common stock each, for an additional 12 months.

During
the year ended December 31, 2021, the Company issued 13,091 representative warrants to the Company’s underwriters. The representative
warrants were not exercisable until January 30, 2022. The representative warrants were exercisable for 13,091 shares of common stock
at $60.50 per share until August 3, 2024. As of December 31, 2022, the Company recognized a value of $273,993 for the representative
warrants to share issuance cost. During the year ended December 31, 2024, these representative warrants expired.

As
of September 30, 2025, the Company has the following warrants outstanding:

Schedule of Warrants Exercise Price 

    Exercise price  
    Number  outstanding  
    Remaining Contractual  Life (Years)  
    Expiry date
  
    $40.00  
     30,000  
     1.25  
     12/31/2026
  
    $7.40  
     770,026  
     3.98  
     09/20/2029
  
    $4.00  
     190,000  
     3.98  
     09/21/2029
  
    $6.50  
     1,424,500  
     4.91  
     08/27/2030
  
    $4.50  
     2,349,202  
     2.70 - 3.00  
     06/13/2028 - 09/30/2028

     4,763,728  
     3.69  

The
average remaining contractual life of outstanding warrants that expire is

Schedule
of Warrants Activity 

    September 30, 2025  
    December 31, 2024 

    Number of warrants  
    Weighted average price  
    Number of warrants  
    Weighted average price 
  
    Balance, beginning of year 
     2,291,276  
    $6.35  
     1,162,792  
    $24.20 
  
    Issu