Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 42

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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and a $147,953 decrease in legal fees, offset by a $95,211 increase in professional fees and services.

General and administrative expenses for the six months
ending March 31, 2025 totaled $1,876,303 compared to $3,257,593 during the same period in 2024. The decrease in general and administrative
expenses of $1,380,990 or 42% less than the previous year, was primarily due to a $1,326,148 decrease in officers and director fees, and
a $217,454 decrease in legal fees, offset by a $185,431 increase in professional fees and services.

AMORTIZATION AND DEPRECIATION

Amortization of intellectual VoIP communications patent
properties and depreciation of capital equipment for the three months and six months ending March 31, 2025 totaled $nil and $nil compared
to $35,115 and $70,230 during the same period in 2024, respectively.

The Company follows GAAP (ASC 350) and is amortizing
its intangibles over the remaining patent life of twelve (12) years. The Company evaluates its intangible assets annually and determines
if the fair market value is less than its historical cost. If the fair market value is less, then impairment expense is recorded on the
Company’s financial statements. The intangible assets on the financial statements of the Company relate primarily to the Company’s
acquisition of Digifonica (International) Limited.

OTHER ITEMS

Other items for the three- and six-months ending March
31, 2025 included impairment on intangible assets of $nil and $nil compared to $157,450 and $157,450 during the same periods in 2024,
respectively.

Other items for the three- and six-months ending March
31, 2025 included loss on settlement of accounts payable of $34,763 and $34,763 compared to $nil and $nil during the same periods in 2024, respectively

INTEREST EXPENSE

The Company had no financing or interest costs for
the three- and six-months ending March 31, 2025 and 2024.

NET LOSS

The Company reported a net loss of $1,399,326 for
the three months ending March 31, 2025 compared to a net loss of $2,666,104 for the same period in 2024. The decrease in net loss of $1,