Company: KWIK
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001683168-25-003684
Chunk: 20

Company: KwikClick, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 20
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(Unaudited)

NOTE 1. BUSINESS

KwikClick, Inc., (the “Company” or “Kwik”)
was organized pursuant to the laws of the State of Delaware on November 16, 1993. Beginning in 2020, the Company commenced its Kwik business
operations to allow sellers to make products or services available on the Kwik platform, at Kwik.com, offering a self-determined incentive
budget on goods or services in exchange for exposure and substantially increased sales volume. Kwik is a social interaction, selling,
referral, and loyalty rewards software platform.

Going Concern

Since the commencement of the Kwik platform, the Company
has accumulated deficits; experienced negative operating cash flows; and has a working capital deficit. The Company will require additional
funding to finance the growth of its future operations as well as to achieve its strategic objectives. This raises substantial doubt about
the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company's
ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary
if the Company is unable to continue as a going concern.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission
(the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally
included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America
(“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly,
they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with
our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024.

In the opinion of the management of the Company, all
adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the three-month periods have been
made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal
year.

Use of Estimates

The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts