Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 44

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 as necessary to meet continued developments and operating costs or, if the capital
is available, that it will be on terms acceptable to the Company. As at March 31, 2025, the Company had cash of $1,455,194 and current
liabilities of $129,464 and incurred net loss of $1,911,066 during the six month period ended March 31, 2025; 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 March 31, 2025, 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 six months ending March 31, 2025. We cannot assure you that future inflation will not have an adverse
impact on our operating results and financial condition.

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    Item 3. 
    Quantitative and Qualitative Disclosures About Market Risk.

As a smaller reporting