Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 9

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 Inc. (the “Company”) was
incorporated in the state of Nevada in September 1997 as All American Casting International, Inc. The Company’s registered office
is located at 7215 Bosque Blvd, Suite 102, Waco, Texas in the United States of America.

Since March 2004, the Company has developed technology
and patents related to Voice-over-Internet Protocol (VoIP) processes. All business activities prior to March 2004 have been abandoned
and written off to deficit. The Company operates in one reportable segment being the acquisition and development of VoIP-related intellectual
property including patents and technology. All intangible assets are located in the United States of America

In 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 interim condensed 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 March 31, 2025, had
an accumulated deficit of $105,268,848 (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 generating profitable operations. 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 issuance 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 lit