Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 0

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Worksport
Ltd. 

Condensed
Consolidated Balance Sheets

    September 30, 2025  
    December 31, 2024 

    (Unaudited)  

    ASSETS 

    Current assets 

    Cash and cash equivalents 
    $3,761,690  
    $4,883,099 
  
    Accounts receivable, net 
     515,074  
     42,589 
  
    Other receivable 
     209,702  
     169,728 
  
    Inventory (Note 3) 
     6,835,491  
     5,190,054 
  
    Prepaid expenses and deposits (Note 6) 
     1,055,971  
     192,192 
  
    Total current assets 
     12,377,928  
     10,477,662 
  
    Investments (Note 11) 
     122,681  
     66,308 
  
    Property and equipment, net (Note 4) 
     13,208,163  
     13,644,226 
  
    Operating lease right-of-use assets (Note 12) 
     299,376  
     595,415 
  
    Intangible assets, net (Note 5) 
     1,040,474  
     953,049 
  
    Total assets 
    $27,048,622  
    $25,736,660 
  
    LIABILITIES AND SHAREHOLDERS’ EQUITY 

    Current liabilities 

    Accounts payable 
    $2,814,718  
    $1,526,630 
  
    Accrued liabilities and other 
     1,078,355  
     800,283 
  
    Accrued compensation 
     288,489  
     377,112 
  
    Long-term debt, current portion (Note 13) 
     1,774,307  
     222,992 
  
    Lease liability, current portion (Note 12) 
     110,202  
     246,535 
  
    Total current liabilities 
     6,066,071  
     3,173,552 
  
    Lease liability, excluding current portion (Note 12) 
     189,116  
     368,472