Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 48

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 cash of $1,739,232 and current liabilities of $121,820 and incurred net loss of $511,740 during the three month
period ended December 31, 2024; accordingly the Company will require additional capital to fund its operations for the next 12 months.

Off
Balance Sheet Arrangements

Performance
Bonus Payable

In
2016, the board of directors authorized the Company to provide a performance bonus (the “Performance Bonus”) of up to 3%
of the capital stock of the Company by way of the issuance of Common shares from its treasury to an as yet undetermined group of related
and non-related parties upon the occurrence of a bonusable event, defined as the successful completion of a sale of the Company or substantially
all its assets, or a major licensing transaction. In order to provide maximum flexibility to the Company with respect to determining
the level of Performance Bonus payable, and who may qualify to receive a pro-rata share of such a Performance Bonus, the Company authorized
full discretion to the Board in making such determinations.

In
2019, the board of directors authorized the increase of the Performance Bonus to up to 10% of the capital stock of the Company, and also
authorized 66.67% of the Performance Bonus to be issued in an advance payment of an aggregate 127,000,000 Common shares (“Bonus
Shares”) to members of management, a director and several consultants. 30,000,000 of the issued Bonus Shares continue to be restricted
from trading under Rule 144 as well as subject to a voluntary lock-up agreement under which the shares cannot be sold or transferred
by the holders until such time as the Company has met the requirements of the bonusable event as described above.

As
at December 31, 2024, no bonusable event has occurred and there is no Performance Bonus payable.

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the three months ending December 31, 2024. We cannot
assure you that future inflation will not have an adverse impact on our operating results and financial condition.

22

    Item
    3. 
    Quantitative
    and Qualitative Disclosures About Market Risk.

As
a smaller reporting company, we are not required to provide the information required by this Item.

    Item
    4. 
    Controls
    and Procedures.

Evaluation
of Disclosure Controls and Procedures

At