Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 32

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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In
2016, the board of directors authorized the Company to provide a performance bonus (the “Performance Bonus”) of up to 3%
of the capital stock of the Company by way of the issuance of Common shares from its treasury to an as yet undetermined group of related
and non-related parties upon the occurrence of a bonusable event, defined as the successful completion of a sale of the Company or substantially
all its assets, or a major licensing transaction. In order to provide maximum flexibility to the Company with respect to determining
the level of Performance Bonus payable, and who may qualify to receive a pro-rata share of such a Performance Bonus, the Company authorized
full discretion to the Board in making such determinations.

In
2019, the board of directors authorized the increase of the Performance Bonus to up to 10% of the capital stock of the Company. Concurrently,
the directors authorized 66.67% of the Performance Bonus to be issued in an advance payment of an aggregate 127,000,000 common shares
(“Bonus Shares”) to a group of related and non-related parties, which included members of management, a director and several
consultants. 30,000,000 of the Bonus Shares are restricted from trading under Rule 144 and subject to a voluntary lock-up agreement under
which they cannot be traded, pledged, hypothecated, transferred or sold by the holder until such time as the Company has met the requirements
of the bonusable event as described above.

As
at December 31, 2024 and September 30, 2024, no bonusable event had occurred and there was no Performance Bonus payable.

19

    Item
    2.
    Management’s
    Discussion and Analysis of Financial Condition and Results of Operations

Management’s
Discussion and Analysis of Financial Condition and Results of Operations

The
following management’s discussion and analysis (MD&A) should be read in conjunction with our interim condensed consolidated
financial statements for the three months ended December 31, 2024 and notes thereto appearing elsewhere in this report, and our audited
consolidated financial statements for the year ended September 30, 2024 and notes thereto.

CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This
MD&A for the period ending December 31, 2024 contains forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amending, and Section 21E