Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 43

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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266,778,
or 48% less than the same period in 2024, was primarily due to a decrease in officers and directors’ fees and legal fees.

The Company reported a net loss of $1,911,066 for
the six months ended March 31, 2025 compared to a net loss of $3,234,973 for the same period in 2024. The decrease in net loss of $1,323,907,
or 41% less than same period in 2024 was due primarily to a decrease in officers and directors’ fees and legal fees.

LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2025, the Company had an accumulated
deficit of $105,268,848 as compared to an accumulated deficit of $103,357,782 at September 30, 2024. As of March 31, 2025, the Company
had a working capital of $1,401,799 as compared to a working capital of $2,158,351 at September 30, 2024. The decrease in the Company’s
working capital of $756,552 due to ongoing operating expenses during the period.

Net cash used by operations for the six months ending
March 31, 2025 and 2024 was $999,219 and $730,098 respectively. The increase in net cash used for operations for the six months ending
March 31, 2025 as compared to the six months ending March 31, 2024 was primarily due to a decrease in accounts payable and accrued liabilities.

21

Net cash used in investing activities for the six
months ending March 31, 2025 and 2024 was $Nil and $Nil, respectively.

Net cash provided from financing activities for the
six months ending March 31, 2025 and 2024 was $85,000 and $757,500, respectively. The decrease in net cash provided by financing activities
of $672,500 was due to lower amounts of equity raised and cash proceeds from private placements during the six months ending March 31,
2025 compared with $882,500 of equity raised and cash proceeds from private placements during the six months ending March 31, 2024.

Liquidity

The Company primarily finances its operations from
cash received through the private placement of its common stock, settling outstanding debts, and the exercise of warrants from investors.
There can be no assurance that capital will be available