Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 48

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 48
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 sale, transfer or other disposition of all or substantially all of our assets to
another entity, or the acquisition by a person of more than 50% of our Common Stock), each warrant holder will have the right at any time
prior to the consummation of the Fundamental Transaction to require us to repurchase the warrant for a purchase price in cash equal to
the Black Scholes Value (as calculated under the warrant agreement) of the then remaining unexercised portion of such warrant on the date
of such Fundamental Transaction, which may materially adversely affect our financial condition and/or results of operations and may prevent
or deter a third party from acquiring us.

If we sell shares of our Common Stock in future financings, stockholders may experience immediate dilution and, as a result, our stock price may decline.

From time to time, we may issue additional shares
of Common Stock at a discount from the current market price of our Common Stock. As a result, our stockholders would experience immediate
dilution upon purchasing any shares of our Common Stock sold at such a discount. In addition, as opportunities present themselves, we
may enter into financings or similar arrangements in the future, including the issuance of debt securities, preferred stock, or Common
Stock. If we issue Common Stock or securities convertible or exercisable into Common Stock, our Common Stockholders will experience additional
dilution, and, as a result, our stock price may decline.

Our Chief Executive Officer and Chairman, Steven Rossi, has significant control over stockholder matters, and the minority stockholders will have little or no control over our affairs.

Steven Rossi, our Chief Executive Officer, President,
and Chairman, currently owns 100% of our outstanding Series A Preferred Stock. According to the Certificate of Designation, the Series
A Preferred Stock votes together with the Common Stock on all matters, except as prohibited by law, and is entitled to 51% of the voting
of the Common Stock, regardless of how many shares of Series A Preferred Stock is outstanding. Subject to any fiduciary duties owed to
our other stockholders under Nevada law, Mr. Rossi can exercise significant influence over matters requiring stockholder approval, including
the election of directors and approval of significant corporate transactions, and will have some control over our management and policies.
Mr. Rossi may have interests that are different from yours. For example, Mr. Rossi may support proposals and actions with which you may
disagree. The concentration of ownership could delay or prevent a change