Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 331

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 6
Chunk 331
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 purchase common shares at a price of $0.021
for a period of ten years from the date of issue.

During
the year ended September 30, 2023, on April 23, 2023, the SPA was further amended to: a) retroactively reinstate the Anti-Dilution Clause
that had been nullified by the amendments made to the STA in April 2021 so that the Company is now required to issue warrants to purchase
common shares of the Company in an equivalent amount to and instead of the required shares being issued pursuant to the original Anti-Dilution
Clause; and b) require the Company to issue preferred shares with super-voting rights in a sufficient amount in order for the Seller
to maintain his 40% voting rights in the Company while his warrants issued pursuant to the original and reinstated Anti-Dilution Clause
remain unexercised (“2023 Amendments”). Each of the warrant issuance and the preferred share issuance required under the
2023 Amendments are to occur at the close of each quarterly reporting period. As a result of the 2023 Amendments, the Seller was issued
831,466,899 share purchase warrants and 138,420 series A preferred shares on June 30, 2023. Shares and warrants issued pursuant to the
Anti-Dilution Clause are recorded as a share issuance cost within the additional paid-in capital account.

Pursuant
to the 2023 Amendments, during the year ended September 30, 2024, the Seller was issued 137,091,089 share purchase warrants and 52,885
series A preferred shares on January 12, 2024. Shares and warrants issued pursuant to the Anti-Dilution Clause are recorded as a share
issuance cost within the additional paid-in capital account.

Pursuant
to the 2023 Amendments, during the year ended September 30, 2025, the Seller was issued 357,865,449 share purchase warrants and 138,522
series A preferred shares on October 9, 2024. Shares and warrants issued pursuant to the Anti-Dilution Clause are recorded as a share
issuance cost within the additional paid-in capital account (Note 10).

    25

VOIP-PAL.COM
INC.

Notes
to the Consolidated Financial Statements

(Expressed
in United States Dollars)

September
30, 2025

NOTE
5. RETAINER

The
Company has retainers with