Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 72

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 72
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 in the case, ruling that the Plaintiffs had not met their burden
of proof with respect to any of its claims against VoIP-Pal et al, awarding no damages to Locksmith and specifically ruling that Locksmith
take nothing as a result of the litigation.

During
the year ended September 30, 2024, on August 20, 2024, and then amended on September 10, 2024, the Company reached a settlement and release
agreement with the Plaintiff. Pursuant to the settlement and release agreement, the Company agreed to issue 30,000,000 restricted common
shares of the Company, with a value of $351,000, and in consideration of the agreement, the Plaintiff shall file a voluntary dismissal
of its appeal immediately upon delivery of the certificates. During the three month period ended December 31, 2024, on October 1, 2024,
a share certificate of 30,000,000 restricted common shares was issued to the Plaintiff.

    Item
    1A.
    Risk
    Factors.

As
a smaller reporting company, we are not required to provide the information required by this Item.

    Item
    2.
    Unregistered
    Sales of Equity Securities and Use of Proceeds.

The
transactions described in this section were exempt from securities registration as provided by Section 4(a)(2) of the Securities Act
for transactions not involving a public offering for sales within the United States and by Regulations of the Securities Act for sales
made outside of the United States.

During
the three-month period ended December 31, 2024, the Company issued:

    _
    5,000,000
    common shares for services with a value of $25,000.

    _
    30,000,000
    restricted common shares priced at $0.0117 per share to Locksmith Financial Corporation as per a settlement and release agreement
    entered.

    _
    138,522
    series A preferred shares pursuant to the Anti-Dilution Clause of the SPA (Note 4) with a value of $1,385 in order to bring total
    series A preferred share ownership to 926,438.

    Item
    3.
    Defaults
    Upon Senior Securities.

None.

    Item
    4.
    Mine
    Safety Disclosures.

Not
applicable.

    Item
    5.
    Other
    Information.

None.

    Item