Company: VPLM
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006777
Chunk: 36

Company: Voip-pal.com Inc
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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,707 as compared to a working capital of $2,158,351
at September 30, 2024. The decrease in the Company’s working capital of $410,644 is due to ongoing operating expenses during the
period.

Net
cash used by operations for the three months ending December 31, 2024 and 2023 was $576,181 and $430,098 respectively. The increase in
net cash used for operations for the three months ending December 31, 2024 as compared to the three months ending December 31, 2023 was
primarily due to a decrease in payment of accounts payable and accrued liabilities.

21

Net
cash used in investing activities for the three months ending December 31, 2024 and 2023 was $Nil and $Nil, respectively.

Net
cash provided from financing activities for the three months ending December 31, 2024 and 2023 was $nil and $125,000, respectively. The
decrease in net cash provided by financing activities of $125,000 was due to no amounts of equity raised and cash proceeds from private
placements during the three months ending December 31, 2024 compared with $125,000 of equity raised and cash proceeds from private placements
during the three months ending December 31, 2023.

Liquidity

The
Company primarily finances its operations from cash received through the private placement of its common stock, settling outstanding
debts, and the exercise of warrants from investors. There can be no assurance that capital will be available as necessary to meet continued
developments and operating costs or, if the capital is available, that it will be on terms acceptable to the Company. As at December
31, 2024, the Company had cash of $1,739,232 and current liabilities of $121,820 and incurred net loss of $511,740 during the three month
period ended December 31, 2024; accordingly the Company will require additional capital to fund its operations for the next 12 months.

Off
Balance Sheet Arrangements

Performance
Bonus Payable

In
2016, the board of directors authorized the Company to provide a performance bonus (the “Performance Bonus”) of up to 3%
of the capital stock of the Company by way of the issuance of Common shares from its treasury to an as yet undetermined group of related
and non-related parties upon the occurrence of a bonusable event, defined as the successful completion