Company: VPLM
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010694
Chunk: 30

Company: Voip-pal.com Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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.046.

During the year ended September 30, 2022, on May 30,
2022, the Company issued 410,000,000 warrants to purchase common shares at a price of $0.025 per share for a period of five years from
the date of issue to its directors, officers, employees and consultants. On April 24, 2023, 410,000,000 warrants granted on May 30, 2022,
were modified to become fully vested and re-priced all such warrants from $0.025 to $0.005. The following assumptions were used for the
Black-Scholes valuation of these warrants on modification date as follows: risk-free rate of 3.60%, expected life of 4.10 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 fair market value that was recorded as additional paid-in capital was $15,995,229. The weighted-average fair
value per warrant is $0.039.

On April 23, 2023, 621,470,562 warrants issued on
April 12, 2021 were re-priced from $0.021 to $0.005. For the incremental cost on these warrants modification, the following assumptions
were used for the Black-Scholes valuation of warrants issued during the year ended September 30, 2023: risk-free rate of 4.78%, expected
life of 7.99 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. The incremental cost that has been recorded as additional paid-in capital from
the modification of these warrants was $130,000. The weighted-average fair value of these warrants issued was $0.036.

Common Share Purchase Options

In order to provide incentive to directors, officers,
management, employees, consultants and others who provide services to the Company or any subsidiary (the “Service Providers”)
to act in the best interests of the Company, and to retain such Service Providers, the Company has in place an incentive Stock Option
Plan (the “Plan”) whereby the Company is authorized to issue up to 10% of its issued and outstanding share capital in options
to purchase common shares of the Company. The maximum term of