Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 29

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 29
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 cells in our energy storage products.
The use, storage, and disposal of our battery packs are regulated under existing laws and are the subject of ongoing regulatory changes
that may add additional requirements in the future.

Environmental Compliance

We are committed to high environmental standards and
carry out our activities and operations in compliance with all relevant and applicable environmental regulations and best industry practices.
Costs of environmental regulatory compliance are not expected to be significant.

Going Concern

We have incurred significant losses since our
inception and have generated only limited revenues. For the twelve months ended December 31, 2024, we had a net loss of $16,163,789.
As of December 31, 2024, we had $4,883,099 in cash and cash equivalents and an accumulated deficit of $64,476,966. Since our
inception in fiscal year 2014, we have never generated a profit.

These factors, among others, raise substantial doubt
as to our ability to continue as a going concern. Our continuation as a going concern is dependent upon our ability to generate positive
cash flows from operations and to secure additional sources of equity and/or debt financing. Despite our intention to fund operations
through equity and debt financing arrangements, there is no assurance that such financing will be available on terms acceptable to the
Company, if at all. See “Risk Factors—Our independent registered public accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern” and “Management’s Discussion and Analysis of Financial Condition—Liquidity and Capital Resources.”

Available Information

Our Annual Reports on Form 10-K, Quarterly Reports
on Form 10-Q, Current Reports on Form 8-K, and amendments to reports filed pursuant to Sections 13(a) and 15(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), are filed with the SEC. Such reports and other information filed by us with
the SEC are available free of charge at investors.worksport.com/stock-informationwhen such reports are available on the SEC’s
website. We periodically provide certain information for investors on our corporate website, worksport.com, and our investor relations
website, investors.worksport.com. This includes press releases and other information about financial performance, information
on environmental, social and governance matters, and details related to our annual meeting of shareholders. The information contained
on the websites referenced in this prospectus is not incorporated by reference into this filing.