Company: WKSP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023334
Chunk: 2

Company: Worksport Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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104,958  
    $1,921,539  
    $6,344,963  
    $2,434,176 
  
    Cost of sales 
     3,022,846  
     1,624,910  
     4,866,630  
     2,100,091 
  
    Gross profit 
     1,082,112  
     296,629  
     1,478,333  
     334,085 

    Operating Expenses 

    Research and development 
     304,833  
     1,045,864  
     674,434  
     1,415,465 
  
    General and administrative 
     2,454,055  
     1,900,522  
     5,442,835  
     4,205,239 
  
    Sales and marketing 
     1,305,355  
     478,792  
     2,175,104  
     545,569 
  
    Professional fees 
     637,493  
     766,563  
     1,063,534  
     1,710,341 
  
    (Gain) loss on foreign exchange 
     (1,993) 
     15,636  
     (3,638) 
     7,685 
  
    Total operating expenses 
     4,699,743  
     4,207,377  
     9,352,269  
     7,884,299 
  
    Loss from operations 
     (3,617,631) 
     (3,910,748) 
     (7,873,936) 
     (7,550,214)

    Other income (expense) 

    Interest expense 
     (128,156) 
     (134,164) 
     (323,594) 
     (257,762)
  
    Interest income 
     11,303  
     -  
     19,437  
     3,054 
  
    Rental income 
     -  
     31,513  
     -  
     76,866 
  
    Other 
     -  
     -  
     (16,855)