Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 209

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 3
Chunk 209
---
 can be no assurance that capital will be available as necessary to meet continued developments and operating costs
or, if the capital is available, that it will be on terms acceptable to the Company. As at September 30, 2025, the Company had cash of
$1,060,499 and current liabilities of $173,932 and incurred net loss of $6,227,153 during the year ended September 30, 2025; accordingly
the Company will require additional capital to fund its operations for the next 12 months.

Off-Balance
Sheet Arrangements

Performance
Bonus Payable

In
2016, the board of directors authorized the Company to provide a performance bonus (the “Performance Bonus”) of up to 3%
of the capital stock of the Company by way of the issuance of Common shares from its treasury to an as yet undetermined group of related
and non-related parties upon the occurrence of a bonusable event, defined as the successful completion of a sale of the Company or substantially
all its assets, or a major licensing transaction. In order to provide maximum flexibility to the Company with respect to determining
the level of Performance Bonus payable, and who may qualify to receive a pro-rata share of such a Performance Bonus, the Company authorized
full discretion to the Board in making such determinations.

In
2019, the board of directors authorized the increase of the Performance Bonus to up to 10% of the capital stock of the Company. Concurrently,
the directors authorized 66.67% of the Performance Bonus to be issued in an advance payment of an aggregate 127,000,000 Common shares
(“Bonus Shares”) to a group of related and non-related parties, which included members of management, a director and several
consultants. 60,000,000 of the Bonus Shares are restricted from trading under Rule 144 and subject to voluntary lock-up agreements under
which they cannot be traded, pledged, hypothecated, transferred or sold by the holders until such time as the Company has met the requirements
of the bonusable event as described above.

As
at September 30, 2025, no bonusable event had occurred and there was no Performance Bonus payable.

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the year ended September 30, 2025. We cannot assure
you that future inflation will not have an adverse impact on our operating results and financial condition.