Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 74

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 received net proceeds of $2,110,342 associated with the sale of the pre-funded warrants. During the same period, 88,700 pre-funded
warrants were exercised for 88,700 shares of common stock for $89. During the year ended December 31, 2024, the remaining 68,800 pre-funded
warrants were exercised for 68,800 shares of common stock for $69.

During
the year ended December 31, 2023, the Company and a stock options holder agreed to cancel all 40,000 stock options in exchange for extending
the exercisable period of 30,000 warrants to December 31, 2024. Later in the year ended December 31, 2023, the expiration date for these
warrants was extended to December 31, 2026, and the stock option holder was issued an additional 40,000 restricted stock units.

    16

During
the year ended December 31, 2022, the Company and a warrant holder reached an agreement to extend the exercisable period of 30,000 warrants,
convertible to 2 shares of common stock each, for an additional 12 months.

During
the year ended December 31, 2021, the Company issued 13,091 representative warrants to the Company’s underwriters. The representative
warrants were not exercisable until January 30, 2022. The representative warrants were exercisable for 13,091 shares of common stock
at $60.50 per share until August 3, 2024. As of December 31, 2022, the Company recognized a value of $273,993 for the representative
warrants to share issuance cost. During the year ended December 31, 2024, these representative warrants expired.

As
of September 30, 2025, the Company has the following warrants outstanding:

Schedule of Warrants Exercise Price 

    Exercise price  
    Number  outstanding  
    Remaining Contractual  Life (Years)  
    Expiry date
  
    $40.00  
     30,000  
     1.25  
     12/31/2026
  
    $7.40  
     770,026  
     3.98  
     09/20/2029
  
    $4.00  
     190,000  
     3.98  
     09