Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 155

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 2
Chunk 155
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December 2013, the Company completed the acquisition of Digifonica (International) Limited, a private company controlled by the CEO of
the Company, whose assets included several patents and technology developed for the VoIP market.

These
consolidated financial statements have been prepared on the basis of a going concern, which contemplates the realization of assets and
discharge of liabilities in the normal course of business. The Company is in various stages of product development and continues to incur
losses and, as at September 30, 2025, had an accumulated deficit of $109,584,935 (September 30, 2024 - $103,357,782). The ability of
the Company to continue operations as a going concern is dependent upon raising additional working capital, settling outstanding debts
and the exercise of warrants from investors. These material uncertainties raise substantial doubt about the Company’s ability to
continue as a going concern. Should the going concern assumption not continue to be appropriate, further adjustments to carrying values
of assets and liabilities may be required. There can be no assurance that capital will be available as necessary to meet these continued
developments and operating costs or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of
additional stock by the Company may result in a significant dilution in the equity interests of its current shareholders. Obtaining commercial
loans, assuming those loans would be available, will increase the Company’s liabilities and future cash commitments. If the Company
is unable to obtain financing in the amounts and on terms deemed acceptable, its business and future success may be adversely affected.

Additionally,
as the Company’s stated objective is to monetize its patent suite through the licensing or sale of its intellectual property (“IP”),
the Company being forced to litigate or to defend its IP claims through litigation casts substantial doubt on its future to continue
as a going concern. IP litigation is generally a costly process, and in the absence of revenue the Company must raise capital to continue
its own defense and to validate its claims – in the event of a failure to defend its patent claims, either because of lack of funding,
a court ruling against the Company or because of a protracted litigation process, there can be no assurance that the Company will be
able to raise additional capital to pay for an appeals process or a lengthy trial. The outcome of any litigation process may have a significant
adverse effect on the Company’s ability to continue as a going concern.

NOTE