Company: KWIK
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001683168-25-003684
Chunk: 27

Company: KwikClick, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 27
---
 31, 2025. No other
material revenue was recognized from a single customer for the three months ended March 31, 2025 and 2024.

In addition to the significant expense categories
included within net income or loss presented on the Company's condensed consolidated statements of operations, the following is disaggregated
research and development expenses for the three months ended March 31:

    Schedule of research and development expenses by segment 

    2025  
    2024 
  
    Platform coding and development 
    $16,063  
    $82,636 
  
    Other third-party engineering 
     13,688  
     4,281 
  
    Total research and development expense 
    $29,751  
    $86,917 

The measure of segment assets is reported on
the condensed consolidated balance sheet as total consolidated assets. All the Company's long-lived assets are located in the United
States. The Company does not have intra-entity sales or transfers.

     12 

NOTE
8. REVERSE STOCK SPLIT

On March 5, 2025, by consent of approximately
54.83% of its outstanding voting stock, the Company’s Certificate of Incorporation was amended to reduce the number of shares of
common stock authorized for issuance from 400,000,000 to 50,000,000 with no adjustment to the par value of $0.0001 per share. In conjunction
with the Amendment, the shareholders approved recapitalization plan involving a reverse stock split on a 1-for-40 basis, whereby shareholders
will receive one share of Common Stock for every 40 shares currently held. The reverse split is to be effected no later than December
31, 2025. Fractional shares will not be issued in connection with the reverse split; any fractional shares will be rounded down to the
nearest whole share. As of March 31, 2025, the reverse stock split had been approved by shareholders, but not yet effected.

The following provides an unaudited pro forma
presentation of the impact of the approved 1-for-40 reverse stock split as if it had taken place at the beginning of the earliest period
presented in the accompanying consolidated financial statements:

    Proforma information 

    March 31, 2025  
    December 31, 2024 

    As Reported  
    Pro Forma Adjustment 
       
    Unaudited Pro Forma