Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 34

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 34
---
isable for a period of five years from the date of grant and are all now fully
vested. On April 24, 2023, the stock options issued on April 23, 2021 were re-priced from $0.025 to $0.005. For the incremental cost on
the option modification, the following assumptions were used for the Black-Scholes valuation: risk-free rate of 3.84%, expected life of
3 years, annualized historical volatility of 169.15% and a dividend rate of 0%. Expected volatilities are based on the historical volatility
of the Company’s stock and other factors.

During the year ended September 30, 2023, 15,000,000
stock options were replaced. For the incremental cost on the option replacement, the following assumptions were used for the Black-Scholes
valuation: risk-free rate of 3.74%, expected life of 5 years, annualized historical volatility of 148.52% and a dividend rate of 0%. Expected
volatilities are based on the historical volatility of the Company’s stock and other factors.

Preferred Share

During the six-month period ended March 31, 2025,
138,522 series A preferred shares were issued 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. During the six-month period ended March 31, 2025, share issued cost of $nil
was charged against income from preferred shares issued.

During the year ended September 30, 2024, 52,885 series
A preferred shares were issued pursuant to the Anti-Dilution Clause of the SPA (Note 4) with a value of $529 in order to bring total series
A preferred share ownership to 787,916. During the year ended September 30, 2024, share issued cost of $476 was charged against income
from preferred shares issued.

During the year ended September 30, 2023, 138,420
preferred shares issued pursuant to the Anti-Dilution Clause of the SPA with a value of $138 which is recorded as stock-based compensation.

During the six-month period ended March 31, 2025,
total stock-based compensation cost of $954,164 (2024 - $2,082,140) was charged against income from all options issued and vested,