Company: WKSP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023334
Chunk: 1

Company: Worksport Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 debt, excluding current portion (Note 13) 
     2,093,363  
     4,781,005 
  
    Total liabilities 
     6,263,579  
     8,323,029 

    Shareholders’ Equity 

    Series A, B & C Preferred stock, $0.001 par value, 10,000,000 shares authorized, 100 Series A, 0 Series B, and 49,335 Series C issued and outstanding, respectively (Note 7) 
     49  
     - 

    Preferred stock, value 
     49  
     - 

    Common stock, $0.001 par value, 45,000,000 shares authorized, 5,519,130 and 4,016,205 shares issued and outstanding, respectively (Note 7) 
     5,518  
     4,016 
  
    Additional paid-in capital 
     87,970,432  
     79,781,674 
  
    Share subscriptions receivable 
     (1,577) 
     (1,577)
  
    Share subscriptions payable 
     2,022,630  
     2,115,064 
  
    Accumulated deficit 
     (72,671,914) 
     (64,476,966)
  
    Cumulative translation adjustment 
     (8,580) 
     (8,580)
  
    Total shareholders’ equity 
     17,316,558  
     17,413,631 
  
    Total liabilities and shareholders’ equity 
    $23,580,137  
    $25,736,660 

See
accompanying Notes to Condensed Consolidated Financial Statements which form an integral part of the Condensed Consolidated Financial
Statements.

3

Worksport
Ltd. 

Condensed
Consolidated Statements of Operations and Comprehensive Loss

For
the Three and Six Months Ended June 30, 2025 and 2024

(Unaudited)

    2025  
    2024  
    2025  
    2024 

    Three Months ended June 30,  
    Six Months ended June 30, 

    2025  
    2024  
    2025  
    2024 

    Net sales 
    $4,