Company: WKSP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010837
Chunk: 2

Company: Worksport Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 development 
     369,601  
     381,000 
  
    General and administrative 
     2,988,781  
     2,293,318 
  
    Sales and marketing 
     869,749  
     66,777 
  
    Professional fees 
     426,041  
     943,778 
  
    Gain on foreign exchange 
     (1,645) 
     (7,951)
  
    Total operating expenses 
     4,652,527  
     3,676,922 
  
    Loss from operations 
     (4,256,306) 
     (3,639,466)

    Other income (expense) 

    Interest expense 
     (195,438) 
     (123,598)
  
    Interest income 
     8,134  
     3,054 
  
    Rental income 
     -  
     45,353 
  
    Other 
     (16,854) 
     - 
  
    Total other income (expense) 
     (204,158) 
     (75,191)

    Net loss 
    $(4,460,464) 
    $(3,714,657)

    Loss per share (basic and diluted) 
    $(1.05) 
    $(1.75)
  
    Weighted average number of shares (basic and diluted) 
     4,262,474  
     2,118,807 

See
accompanying Notes to Condensed Consolidated Financial Statements which form an integral part of the Condensed Consolidated
Financial Statements.

4

Worksport
Ltd.

Condensed
Consolidated Statements of Shareholders’ Equity

For
the Three Months Ended March 31, 2025 and 2024

(Unaudited)

    Shares  
    Amount  
    Shares  
    Amount  
    Capital  
    Receivable  
    Payable  
    Deficit  
    Adjustment  
    (Deficit) 

    Preferred
    Stock  
    Common
    Stock  
    Additional

    Paid-in  
    Share

    Subscriptions  
    Share

    Subscription  
    Accumulated  
    Cumulative

    Translation  
    Total
    Stockholders’
 Equity 

    Shares  
    Amount  
    Shares