Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 33

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 on May 31, 2024, and 3,000,000 options vesting on May 31, 2025. The vesting period was amended on June
1, 2024 that all options were vested on grant date. The following assumptions were used for the Black-Scholes valuation of stock options
on grant date as follows: 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.

During the year ended September 30, 2022, on May 30,
2022, the Company granted 77,000,000 options to purchase 77,000,000 common shares at a price of $0.025 to its consultants and advisors.
The options are exercisable for a period of five years from the date of grant, with the first 50% vesting on the date of the option grant
and the remaining 50% vesting on May 30, 2023. On April 24, 2023, the stock options issued on May 30, 2022 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 3.60%, expected life of 4.1 years, annualized historical volatility of 174.16% and a dividend rate of 0%. Expected volatilities
are based on the historical volatility of the Company’s stock and other factors. The incremental cost that has been recorded as
additional paid-in capital from the modification of these options was $105,571.

    17

VOIP-PAL.COM INC.

Notes to the Interim Condensed Consolidated Financial
Statements

(Unaudited – prepared by management)

(Expressed in United States Dollars)

March 31, 2025

    NOTE 11. 
    STOCK-BASED COMPENSATION (CONT’D) 

Common Share Purchase Options (cont’d)

During the year ended September 30, 2021, on April
23, 2021, the Company granted 90,000,000 options to purchase 90,000,000 common shares at a price of $0.025 to its directors, officers,
employees, consultants and advisors. The options are exerc