Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 1

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    Long-term debt, excluding current portion (Note 13) 
     1,014,043  
     4,781,005 
  
    Total liabilities 
     7,269,230  
     8,323,029 

    Shareholders’ equity 

    Series A, B Preferred & Series C Convertible Preferred stock, $0.001
    par value, 10,000,000
    shares authorized, 100
    Series A, 0
    Series B, and 371,784
    Series C issued and outstanding, respectively (Note 7) 
     372  
     - 
  
    Series A, B Preferred & Series C Convertible Preferred stock, $0.001 par value, 10,000,000 shares authorized, 100 Series
A, 0 Series B, and 371,784 Series C issued and outstanding, respectively (Note 7) 
     372  
     - 

    Common stock, $0.001 par value, 45,000,000 shares authorized, 7,589,036 and 4,016,205 shares issued and outstanding, respectively (Note 7) 
     7,588  
     4,016 
  
    Additional paid-in capital 
     95,783,778  
     79,781,674 
  
    Share subscriptions receivable 
     (512,392) 
     (1,577)
  
    Share subscriptions payable 
     2,126,352  
     2,115,064 
  
    Accumulated deficit 
     (77,617,726) 
     (64,476,966)
  
    Cumulative translation adjustment 
     (8,580) 
     (8,580)
  
    Total shareholders’ equity 
     19,779,392  
     17,413,631 
  
    Total liabilities and shareholders’ equity 
    $27,048,622  
    $25,736,660 

See
accompanying Notes to Condensed Consolidated Financial Statements which form an integral part of the Condensed Consolidated Financial
Statements.

3

Worksport
Ltd. 

Condensed
Consolidated Statements of Operations and Comprehensive Loss

For
the Three and Nine Months Ended September 30, 2025 and 2024

(Unaudited)