Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 520

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 520
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 the Company has 2,291,276
warrants convertible to 2,321,276
common shares, 117,018
restricted stock to be issued, and 192,784
stock options exercisable for 192,784
common shares for a total underlying common shares of 2,631,078.
As of December 31, 2023, the Company has 1,162,792
warrants convertible to 1,192,792
common shares, 57,021
restricted stock to be issued, and 506,386
stock options exercisable for 506,386
common shares for a total underlying common shares of  1,756,199.

    60

Worksport
Ltd.

Notes
to the Consolidated Financial Statements

December
31, 2024 and 2023

15.
Warrants

During
the year ended December 31, 2024, in connection with the sale of 237,224 shares of common stock, the Company also sold 147,789 pre-funded
warrants and issued 770,026 warrants exercisable for a total of 770,026 shares of common stock for $0.001 and $7.40, respectively, per
share. The Company received net proceeds of $1,093,492 associated with the sale of the pre-funded warrants. The pre-funded warrants are
immediately exercisable until all of the pre-funded warrants are exercised. During the same period, 147,789 pre-funded warrants were
exercised for 147,789 shares of common stock for $150.

During
the year ended December 31, 2024, the Company closed a sale of 95,000 shares of common stock. In connection with the sale of common stock
the Company issued 190,000 warrants. The warrants have an exercise price of $4.00 and an expiration date of September 21, 2029.

During
the year ended December 31, 2024, 13,091 warrants issued on August 3, 2021, and 344,652 warrants issued on August 6, 2021, all of which
having an exercise price of $60.50, expired.

During
the year ended December 31, 2023, in connection with the sale of 192,500
shares of common stock the Company also sold
157,500
pre-funded warrants and 700,000
warrants convertible for