Company: VPLM
Filing Date: 2025-12-23
Form Type: 10-K
Source: 0001493152-25-029094
Chunk: 86

Company: Voip-pal.com Inc
Filing Date: 2025-12-23
Form: 10-K
Item: Item 1A
Chunk 86
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 39% less than the previous year was primarily due to a decrease in legal
fees and officer and director fees.

14

LIQUIDITY
AND CAPITAL RESOURCES

As
of September 30, 2025, the Company had an accumulated deficit of $109,584,935 as compared to an accumulated deficit of $103,357,782 at
September 30, 2024. As of September 30, 2025, the Company had working capital of $969,267 as compared to working capital of $2,158,351
at September 30, 2024.

Net
cash used by operations for the years ending September 30, 2025 and 2024 was $1,858,914 and $2,358,051, respectively. The decrease in
net cash used for operations for the year ending September 30, 2025 as compared to the year ending September 30, 2024 was primarily due
to an decrease in general and administrative expenses.

Net
cash used in investing activities for the years ending September 30, 2025 and 2024 was $Nil.

Net
cash provided from financing activities for the years ending September 30, 2025 and 2024 was $550,000 and $2,509,875, respectively. The
decrease in net cash provided by financing activities of $1,959,875 was due to lower amounts of equity raised and less cash proceeds
from private placements during the year ending September 30, 2025.

Liquidity

The
Company primarily finances its operations from cash received through the private placement of its common stock, 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 September 30, 2025, the Company had cash of
$1,060,499 and current liabilities of $173,932 and incurred net loss of $6,227,153 during the year ended September 30, 2025; 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