Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 50

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 Judicial District Court for the State of Nevada rendered its decision in favor of
VoIP-Pal upon all claims in the case, ruling that the Plaintiffs had not met their burden of proof with respect to any of its claims against
VoIP-Pal et al, awarding no damages to Locksmith and specifically ruling that Locksmith take nothing as a result of the litigation.

During the year ended September 30, 2024, on August
20, 2024, and then amended on September 10, 2024, the Company reached a settlement and release agreement with the Plaintiff. Pursuant
to the settlement and release agreement, the Company agreed to issue 30,000,000 restricted common shares of the Company, with a value
of $351,000, and in consideration of the agreement, the Plaintiff shall file a voluntary dismissal of its appeal immediately upon delivery
of the certificates. During the six-month period ended March 31, 2025, on October 1, 2024, a share certificate of 30,000,000 restricted
common shares was issued to the Plaintiff.

    Item 1A.
    Risk Factors.

As a smaller reporting company, we are not required
to provide the information required by this Item.

    Item 2.
    Unregistered Sales of Equity Securities and Use of Proceeds.

The transactions described in this section were exempt
from securities registration as provided by Section 4(a)(2) of the Securities Act for transactions not involving a public offering for
sales within the United States and by Regulations of the Securities Act for sales made outside of the United States.

During the six-month period ended March 31, 2025,
the Company issued:

    _

    17,000,000 common shares priced at $0.005 per share
    for cash proceeds of $85,000 from a private placement of common shares.

    _
    
    5,000,000 common shares for services with a value
    of $25,000.

    _
    5,000,000 common shares with a value of $62,000 to settle accounts payable of $27,237 resulting in a loss on settlement
of $34,763.

    _
    30,000,000 restricted common shares priced at $0.0117 per share to Locksmith Financial Corporation as per a settlement and release agreement entered.

    _
    
    138,522 series A preferred shares pursuant to the
    Anti-Dilution Clause of the SPA