Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 35

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
---
2,859,940  
    $5,556,535 

No
asset information has been provided for the reported segments as the CODM does not regularly review asset information by reportable
segment. As of September 30, 2025 and December 31, 2024, assets held in the U.S. accounted for 90% and 88% of total assets,
respectively.

18.
Commitments and Contingencies

There
are no legal proceedings except for routine litigation incidental to the business.

19.
Subsequent Events

The
Company has evaluated subsequent events through November 13, 2025. The following events occurred after the period ended September 30,
2025:

 ●On
                                            October 6, 2025 the Company announced its subsidiary Terravis Energy was selected for the
                                            NREL Technical Assistance Program award to analyze its ZeroFrost cold-weather heat pump technology
                                            in Alaska
                                                                                                                                      
●On
October 15, 2025 the Company announced the successful completion of its Regulation A offering

●On
                                            October 23, 2025 the Company announced its new HD3 Heavy-Duty tonneau cover officially
                                            entered production. The HD3 is a new hard-folding truck bed cover engineered
                                            for commercial and fleet applications, building on the success of the Company’s
                                            AL3 and AL4 series.

●On
                                            October 30, 2025 the Company announced the official launch date for its flagship SOLIS Solar
                                            Tonneau Cover and COR Portable Energy Storage System, both available
                                            for order starting November 28, 2025. 
 ●From October 1, 2025 through November 13, 2025, certain
                                                                                                                                 Series C preferred shareholders converted 661,606
                                                                                                                                 shares into the Company’s common stock.

21

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This
section and other parts of this Quarterly Report on Form 10-Q (“Form 10-Q”) contain forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide
current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical
or current fact. Forward-looking statements can also be identified by words such as “future,” “anticipates,”
“believes,” “estimates,” “expects,”