Company: WKSP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010837
Chunk: 64

Company: Worksport Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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 CODM primarily focuses on net income to evaluate its reporting segments. The CODM also uses net income for evaluating pricing
strategy and to assess the performance for determining the compensation of certain employees. Significant segment expenses reviewed,
which represent the differences between segment revenue and segment net loss, consist of the following:

 Schedule
of Revenue and Segment Net Loss

    Hard
    Tonneau Covers  
    Soft
    Tonneau Covers  
    Corporate
    / Eliminations  
    Consolidated  
    Hard
    Tonneau Covers  
    Soft
    Tonneau Covers  
    Corporate
    / Eliminations  
    Consolidated 

    For the three months ended March 31, 2025  
    For the three months ended March 31, 2024 

    Hard Tonneau Covers  
    Soft Tonneau Covers  
    Corporate / Eliminations  
    Consolidated  
    Hard Tonneau Covers  
    Soft Tonneau Covers  
    Corporate / Eliminations  
    Consolidated 
  
    Net sales 
    $2,118,565  
    $121,440  
    $-  
    $2,240,005  
    $35,782  
    $476,855  
    $-  
    $512,637 
  
    Less: Cost of sales 
     (1,736,491) 
     (98,351) 
     (8,942) 
     (1,843,784) 
     (31,554) 
     (443,627) 
     -  
     (475,181)
  
    Selling, general and administrative 
     (2,023,395) 
     (66,229) 
     (2,117,937) 
     (4,207,561) 
     (977,026) 
     (232,461) 
     (2,084,288) 
     (3,293,775)
  
    Depreciation and amortization 
     (417,316) 
     (12,829) 
     (14,821) 
     (444,966) 
     (310,452) 
     (15,040) 
     (57,655) 
     (383,147)
  
    Loss from