Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 37

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 that they were owed 95,832,000 Voip-Pal common shares from a previous case involving the Plaintiff and the Defendant
that had been through a jury trial in 2019, in which the jury had made an award to the Plaintiff that was monetary only, and did not include
said shares - following the jury’s decision in the 2019 trial, the Plaintiff accepted the award and waived their right to appeal.
Voip-Pal vigorously disputed the Plaintiff’s 2020 claims on the basis of claim preclusion (the 2020 claims were addressed in the
previous action in 2019 and are now precluded); that Plaintiffs’ claims are untimely, and that the Plaintiffs no longer have standing
to bring their claims.

During the year ended September 30, 2022, the Court
entered a judgment in favor of VoIP-Pal.com Inc and co-defendants, dismissing the 2020 case. The Plaintiffs filed an appeal with the Nevada
Supreme Court.

During the year ended September 30, 2023, following
a hearing of the appeal, the Nevada Supreme Court ruled to reverse the lower court’s judgment and remanded the case back to the
lower court for further proceedings. The Defendants (Voip-Pal et al) filed a motion to the Supreme Court for reconsideration, however
that motion was denied, and a trial date was set for November 28, 2023.

During the year ended September 30, 2024, on November
30, 2023, after the completion of trial, the Eighth Judicial District Court for the State of Nevada rendered its decision in favor of
VoIP-Pal upon all claims in the case, ruling that the Plaintiffs had not met their burden of proof with respect to any of its claims against
VoIP-Pal et al, awarding no damages to Locksmith and specifically ruling that Locksmith take nothing as a result of the litigation.

During the year ended September 30, 2024, on August
20, 2024, and then amended on September 10, 2024, the Company reached a settlement and release agreement with the Plaintiff. Pursuant
to the settlement and release agreement, the Company agreed to issue 30,000,000 restricted common shares of the Company, with a value
of $351,000, and in consideration of the agreement, the Plaintiff shall file a voluntary dismissal of its appeal immediately upon delivery
of the certificates. On