Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 367

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 367
---
,378  
     3,286,193  
     8,397,570  
     -  
     1,510,177  
     1,510,177 
  
    Canada 
     59,823  
     7,695  
     67,519  
     -  
     6,811  
     6,811 

    Other

    -

    19,290

    19,290

    -

    12,644

    12,644

    Total 
     5,171,201  
     3,313,178  
     8,484,379  
     -  
     1,529,632  
     1,529,632 

No
asset information has been provided for the reported segments as the CODM does not regularly review asset information by reportable segment.
As of December 31, 2024 and 2023, assets held in the U.S. accounted for 88% and 80% of total assets, respectively.

19.
Legal Proceedings

There
are no legal proceedings except for routine litigation incidental to the business.

20.
Subsequent Events

The
Company has evaluated subsequent events through March 27, 2025, which is the date the financial statements were available to be issued.
The following events occurred after year-end:

    ●
    Through March 27, 2025, the Company has sold and issued 22,725 shares of
common stock in consideration for net proceeds of $185,875 under the ATM Agreement. 

    ●
    On February 27, 2025, the
    Company entered into a warrant inducement agreement (the “Inducement”) with the holder of existing warrants to purchase
    an aggregate 1,295,000 shares at a revised price of $5.20  in consideration for the Company to issue new warrants to purchase
    up to 1,424,500 additional shares of common stock at an exercise price of $6.502 each – resulting in gross proceeds of approximately
    $6,734,000 received by the Company. 

    ●
    On March 18, 2025, Worksport effectuated a 1-for-10 reverse stock split
of its common stock. The Company’s common stock continues to trade on the Nasdaq under the Company’s existing trading symbol,