Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 11

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 11
---
 30, 2024 - $40,250) which is a collateral GIC held for the Company’s
corporate credit card.

Intangible Assets

Intangible assets, consisting of VoIP communication
patent intellectual properties (IP) are recorded at cost and amortized over the assets estimated life on a straight-line basis. Management
considers factors such as remaining life of the patents, technological usefulness and other factors in estimating the life of the assets.

The carrying value of intangible assets are reviewed
for impairment by management of the Company at least annually or upon the occurrence of an event which may indicate that the carrying
amount may be less than its fair value. If impaired, the Company will write- down such impairment. In addition, the useful life of the
intangible assets will be evaluated by management at least annually or upon the occurrence of an event which may indicate that the useful
life may have changed.

Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurement, defines fair
value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between
market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value
should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific
to the entity.

The Company classifies financial assets and liabilities
as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature.
Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain
related party transactions which are accounted for at the transferor’s carrying amount or exchange amount.

Financial assets and liabilities classified as held-for-trading
are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and
receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective
interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and
losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the
unrealized loss is recorded in income.

    8

VOIP-PAL.COM INC.

Notes to the Interim Condensed Consolidated Financial
Statements

(Un