Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 160

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 160
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ominated transactions or balances are included in the determination of income.
The Company did not have material translation adjustments during the periods presented.

Reclassifications

Certain prior year amounts have been reclassified
for consistency with the current year presentation. These reclassifications are not material and had no effect on the previously reported
financial position, results of operations, or cash flows.

     F-10 

Recent Accounting Pronouncements

From time to time, new accounting pronouncements
are issued by the Financial Accounting Standards Board (“FASB”) under its accounting standard codifications (“ASC”)
or other standard setting bodies and adopted by the Company as of the specified effective date, unless otherwise discussed below.

New Accounting Pronouncements Adopted 

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements
through enhanced disclosures about significant segment expenses. These amendments enhance interim disclosure requirements, require disclosure
of the title and position of the chief operating decision maker, require disclosure of significant segment expenses that are regularly
provided to the CODM, clarify circumstances for disclosure of more than one segment profit or loss measure and require that a public entity
that has a single reportable segment provide all disclosures required by ASC 280 and amendments. This ASU update is effective for fiscal
years beginning after December 15, 2023 for the Company’s annual report, and interim periods within fiscal years beginning after
December 15, 2024. The Company adopted this ASU for the annual report for the year beginning January 1, 2024 and evaluated the impact
of the adoption of the ASU. It did not result in a material impact on the Company's financial statements and related disclosures.

New Accounting Pronouncements, Not yet Adopted

In October 2023, the FASB issued ASU 2023-06,
Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which
modifies the disclosure or presentation requirements related to variety of FASB Accounting Standard Codification topics. The effective
date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation
S-K is effective. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the
pending content of the associated amendment will be removed from