Overview
Compare with Aeva, Inc, Securetech Innovations, Inc. or AZIO AI HOLDINGS, INC., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Hard Tonneau Covers brought in 97% of the revenue Worksport Ltd broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Hard Tonneau Covers | $5.2M | $15.6M |
| Soft Tonneau Covers | $3.3M | $454.5K |
Regions
United States brought in 99% of the revenue Worksport Ltd broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $8.4M | $16.0M |
| Outside the United States | $86.8K | $91.7K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue34¢$11.6M
- Research and development4¢$1.5M
- Selling, general and admin62¢$21.5M
Out of $16.1M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net sales | $16.1M | $8.5M |
| Cost of sales | $11.6M | $7.6M |
| Gross profit | $4.5M | $905.6K |
| Research and development | $1.5M | $2.3M |
| General and administrative | $14.8M | $11.7M |
| Sales and marketing | $6.9M | $2.4M |
| Gain on foreign exchange | -$4.6K | -$14.9K |
| Total operating expenses | $23.3M | $16.4M |
| Loss from operations | -$18.8M | -$15.5M |
| Interest expense | -$592.8K | -$726.1K |
| Other | $53.9K | $28.1K |
| Total other income (expense) | -$538.9K | -$698.0K |
| Net loss | -$19.4M | -$16.2M |
| Loss per Share basic | -$3.16 | -$5.84 |
| Loss per Share diluted | -$3.16 | -$5.84 |
| Weighted Average Number of Shares basic | 6.1M shares | 2.8M shares |
| Weighted Average Number of Shares diluted | 6.1M shares | 2.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.9M | $4.9M | ||
| Accounts receivable, net | $504.0K | $42.6K | ||
| Other receivable | $278.0K | $169.7K | ||
| Inventories, net (Note 3) | $9.5M | $5.2M | ||
| Prepaid expenses and deposits (Note 6) | $530.9K | $192.2K | ||
| Total Current assets | $16.8M | $10.5M | ||
| Investment (Note 11) | $67.0K | $66.3K | ||
| Property and equipment, net (Note 4) | $12.7M | $13.6M | ||
| Operating lease right-of-use assets (Note 11) | $272.6K | $595.4K | ||
| Intangible assets, net (Note 5) | $896.5K | $953.0K | ||
| Total assets | $30.7M | $25.7M | ||
| Accounts payable | $3.1M | $1.5M | ||
| Accrued liabilities and other | $1.4M | $800.3K | ||
| Accrued compensation | $420.2K | $377.1K | ||
| Long-term debt, current portion (Note 12) | $1.7M | $223.0K | ||
| Lease liability, current portion (Note 11) | $113.0K | $246.5K | ||
| Total current liabilities | $6.7M | $3.2M | ||
| Lease liability, excluding current portion (Note 11) | $159.5K | $368.5K | ||
| Long-term debt, excluding current portion (Note 12) | $950.5K | $4.8M | ||
| Total liabilities | $7.8M | $8.3M | ||
| Series A, B and Series C Preferred Stock, $0.001 par value, 10,000,000 shares authorized, 100 Series A, 0 Series B, and 427,812 Series C (for 2025) issued and outstanding, respectively (Note 7) | $428 | |||
| Common stock, $0.001 par value, 45,000,000 shares authorized, 9,814,665 and 4,016,205 shares issued and outstanding, respectively (Note 7) | $9.8K | $4.0K | ||
| Additional paid-in capital | $101.4M | $79.8M | ||
| Share subscriptions receivable | -$55.7K | -$1.6K | ||
| Share subscriptions payable | $5.4M | $2.1M | ||
| Accumulated deficit | -$83.9M | -$64.5M | ||
| Cumulative translation adjustment | -$8.6K | -$8.6K | ||
| Total shareholders equity | $22.9M | $17.4M | $18.2M | |
| Total liabilities and shareholders equity | $30.7M | $25.7M | ||
| Common stock, par value | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized | 45.0M shares | 45.0M shares | ||
| Common stock, shares issued | 9.8M shares | 4.0M shares | ||
| Common stock, shares outstanding | 9.8M shares | 4.0M shares |
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.9M | $4.9M | ||
| Accounts receivable, net | $504.0K | $42.6K | ||
| Other receivable | $278.0K | $169.7K | ||
| Inventories, net (Note 3) | $9.5M | $5.2M | ||
| Prepaid expenses and deposits (Note 6) | $530.9K | $192.2K | ||
| Total Current assets | $16.8M | $10.5M | ||
| Investment (Note 11) | $67.0K | $66.3K | ||
| Property and equipment, net (Note 4) | $12.7M | $13.6M | ||
| Operating lease right-of-use assets (Note 11) | $272.6K | $595.4K | ||
| Intangible assets, net (Note 5) | $896.5K | $953.0K | ||
| Total assets | $30.7M | $25.7M | ||
| Accounts payable | $3.1M | $1.5M | ||
| Accrued liabilities and other | $1.4M | $800.3K | ||
| Accrued compensation | $420.2K | $377.1K | ||
| Long-term debt, current portion (Note 12) | $1.7M | $223.0K | ||
| Lease liability, current portion (Note 11) | $113.0K | $246.5K | ||
| Total current liabilities | $6.7M | $3.2M | ||
| Lease liability, excluding current portion (Note 11) | $159.5K | $368.5K | ||
| Long-term debt, excluding current portion (Note 12) | $950.5K | $4.8M | ||
| Total liabilities | $7.8M | $8.3M | ||
| Series A, B and Series C Preferred Stock, $0.001 par value, 10,000,000 shares authorized, 100 Series A, 0 Series B, and 427,812 Series C (for 2025) issued and outstanding, respectively (Note 7) | $428 | |||
| Common stock, $0.001 par value, 45,000,000 shares authorized, 9,814,665 and 4,016,205 shares issued and outstanding, respectively (Note 7) | $9.8K | $4.0K | ||
| Additional paid-in capital | $101.4M | $79.8M | ||
| Share subscriptions receivable | -$55.7K | -$1.6K | ||
| Share subscriptions payable | $5.4M | $2.1M | ||
| Accumulated deficit | -$83.9M | -$64.5M | ||
| Cumulative translation adjustment | -$8.6K | -$8.6K | ||
| Total shareholders equity | $22.9M | $17.4M | $18.2M | |
| Total liabilities and shareholders equity | $30.7M | $25.7M | ||
| Common stock, par value | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized | 45.0M shares | 45.0M shares | ||
| Common stock, shares issued | 9.8M shares | 4.0M shares | ||
| Common stock, shares outstanding | 9.8M shares | 4.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$19.4M | -$16.2M |
| Shares, options and warrants issued for services | $3.0M | $2.9M |
| Depreciation and amortization | $1.8M | $1.8M |
| Change in operating lease | -$19.7K | -$44 |
| Other | $256.8K | $57.4K |
| Adjustments to reconcile net income loss to cash provided by (used in) operating activities | -$14.2M | -$11.4M |
| Changes in operating assets and liabilities (Note 10) | -$3.1M | $1.3M |
| Net cash used in operating activities | -$17.3M | -$10.1M |
| Investments and intangible assets | -$330.0K | |
| Purchase of property and equipment | -$789.5K | -$528.2K |
| Net cash used in investing activities | -$1.1M | -$528.2K |
| Proceeds from issuance of common shares, net of issuance cost | $504.4K | $8.7M |
| Proceeds from warrant exercise (Note 14) | $12.3M | $3.7M |
| Proceeds from issuance of preferred stock, net of issuance cost | $3.1M | |
| Proceeds from issuance of warrants, net of issuance cost | $6.0M | |
| Proceeds from line of credit | $13.8M | $10.3M |
| Repayments on line of credit | -$15.9M | -$6.8M |
| Proceeds from long-term debt | $1.4M | |
| Repayments on short-term and long-term debt | -$206.7K | -$5.3M |
| Related party loan | -$2.2K | |
| Net cash provided by financing activities | $19.5M | $12.2M |
| Change in cash | $1.1M | $1.5M |
| Interest paid | $593.0K | $726.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Worksport Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Worksport Ltd
- ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G/A on Worksport Ltd, latest May 15, 2026 (7 filings since Feb 14, 2024)
- SCOGGIN MANAGEMENT LP Filed SC 13G on Worksport Ltd, latest Mar 18, 2024
- De Wiel Wesley Van Filed SC 13G on Worksport Ltd, latest Jul 14, 2023
- Worksport Ltd West Seneca, New York
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Worksport Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $17.0M3 Dec 31, 2025 | $16.7M3 Dec 31, 2024 | +2.1% |
| Accumulated depreciation | $4.3M3 Dec 31, 2025 | $3.0M3 Dec 31, 2024 | +43.3% |
| Property and equipment, net | $12.7M3 Dec 31, 2025 | $13.6M3 Dec 31, 2024 | −7.0% |
| Operating-lease assets (leased space) | $272.6K3 Dec 31, 2025 | $595.4K3 Dec 31, 2024 | −54.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $5.9M3 Dec 31, 2025 | $4.9M3 Dec 31, 2024 | +21.8% |
| Long-term investments | $67.0K3 Dec 31, 2025 | $66.3K3 Dec 31, 2024 | +1.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $1.7M3 Dec 31, 2025 | $1.4M3 Dec 31, 2024 | +24.4% |
| Accumulated amortization | $783.4K3 Dec 31, 2025 | $397.6K3 Dec 31, 2024 | +97.0% |
| Finite-lived intangibles, net | $896.5K3 Dec 31, 2025 | $953.0K3 Dec 31, 2024 | −5.9% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $9.5M3 Dec 31, 2025 | $5.2M3 Dec 31, 2024 | +83.6% |
| Work in process | $756.5K3 Dec 31, 2025 | $473.3K3 Dec 31, 2024 | +59.8% |
| Finished goods | $3.4M3 Dec 31, 2025 | $1.3M3 Dec 31, 2024 | +150.8% |
Properties, in its own words
As of December 31, 2025, we had three facilities located throughout the U.S. and Canada. One of these facilities is owned and the remainder are leased. Our principal facilities are as follows:
Address · Type · Ownership · Size (sq ft)
The rest of Item 2
2500 N America Dr., West Seneca, NY 14224, U.S. (1) · Corporate Headquarters, Warehouse, and Manufacturing · Owned; Collateral for line of credit · 152,847
391 Steelcase Road, West, Unit 17, Markham L3R3V9, Canada (2) · Office, R&D Facility · Rented · 1,992
967 W. Hwy NN, Suites C, D, E &F, Ozark, MO, U.S. (3) · Office, R&D Facility · Rented · 12,500
(1) · For further information on this property, see Note 12 - Indebtedness of Part II Item 8, Financial Statements and Supplementary Data, of this Report.
(2) · Two-year lease, dated July 18, 2025, at a rate of $2,299 CAD per month with a termination date of July 17, 2027.
(3) · Three-year lease, dated May 1, 2025 - at a variable rate beginning at $9,659 USD per month with a termination date of April 30, 2028.
We believe our facilities are suitable and adequate for our current operations.
Item 2 of the 10-K filed Mar 26, 2026.12
Leadership
Who has led Worksport Ltd, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerSteven F. Rossi Apr 7, 2015 to now13
- ChairSteven F. Rossi Jun 9, 2026 to now14
- PresidentSteven F. Rossi May 3, 2023 to now15
- PresidentA. J. Boisdrenghien Aug 6, 2009 to Aug 6, 200916
- Chief financial officerJennifer Anne Kartychak May 1, 2026 to now17
- Chief financial officerMichael D. Johnston Aug 17, 2021 to Aug 17, 202118
- Chief operating officerSteven Raivio Jan 2, 2015 to Jan 14, 201619
Board members and other officers (8)
- TreasurerLorenzo Rossi Jan 2, 2015 to Jan 2, 201520
- Board memberCraig William Loverock Aug 17, 2021 to now21
- Board memberNed L. Siegel Aug 17, 2021 to now22
- Board memberWilliam J. Caragol Aug 17, 2021 to now23
- Board memberLorenzo Rossi Jan 2, 2015 to now20
- Board memberSteven Raivio Jan 2, 2015 to Jan 14, 201619
- Board memberSteven F. Rossi Apr 7, 2015 to now13
- Board memberA. J. Boisdrenghien Aug 6, 2009 to Aug 6, 200916
Former names
Timeline
- Oct 6, 20268-K Regulation FD disclosure24
- Sep 4, 20268-K Shareholder vote25
- Aug 27, 20268-K Entered a material agreement; Unregistered sale of shares26
- Aug 26, 20268-K Regulation FD disclosure27
- Aug 14, 20268-K Listing notice or transfer28
- Aug 11, 20268-K Regulation FD disclosure29
- Jul 29, 20268-K Regulation FD disclosure30
- Jul 28, 20268-K Results of operations; Regulation FD disclosure31
- Jul 22, 20268-K Regulation FD disclosure32
- Jun 25, 20268-K Regulation FD disclosure33
- Jun 24, 20268-K Entered a material agreement; Regulation FD disclosure34
- Jun 22, 20268-K Regulation FD disclosure35
- Apr 7, 2015New chief executive Steven F. Rossi becomes CEO13
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/202636
When it reported results
- Jul 28, 2026Reported quarterly or annual results31
- May 16, 2024Reported quarterly or annual results37
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
305 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 160 major events, 42 insider forms, 9 large holders, 1 private raises, 73 other. The latest 20:
- Oct 13, 2026EFFECT EDGAR
- Oct 9, 2026S-8 EDGAR
- Oct 6, 20268-K EDGAR
- Oct 5, 2026S-3 EDGAR
- Sep 4, 20268-K EDGAR
- Aug 27, 20268-K EDGAR
- Aug 26, 20268-K EDGAR
- Aug 14, 20268-K EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
- Aug 7, 2026424B5 EDGAR
- Jul 31, 20264 EDGAR
- Jul 29, 20268-K EDGAR
- Jul 28, 20268-K/A EDGAR
- Jul 22, 20268-K EDGAR
- Jul 20, 2026DEF 14A EDGAR
- Jul 15, 2026PRER14A EDGAR
- Jul 10, 2026PRE 14A EDGAR
- Jul 10, 20264 EDGAR
- Jun 25, 20268-K EDGAR
The 305 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 5, 2026 | Rossi Steven F.Chairman, CEO and President | Buy | 79,618 | $0.63 | $50.2K | Form 4 |
| Apr 13, 2026 | Rossi Steven F.Chairman, CEO and President | Buy | 88,214 | $0.85 | $75.0K | Form 4 |
| Nov 19, 2024 | Rossi Steven F.Chairman, CEO and President | Buy | 33,333 | $0.75 | $25.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 7 filings Feb 14, 2024 to May 15, 202638
- SCOGGIN MANAGEMENT LPSC 13G, 1 filing Mar 18, 202439
- De Wiel Wesley VanSC 13G, 1 filing Jul 14, 202340
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Steven RossiChief Executive Officer, President (PEO) | 40 | $302.7K | $1.3M41 |
| 2024 | Steven RossiChief Executive Officer, President (PEO) | 40 | $348.2K | $508.7K41 |
Money raised
Private offerings the company reported to the SEC on Form D.
- Mar 20, 2024Raised $2.8 million in a private offering of securities Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 28. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Worksport Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWorksport Ltd1
- CIK0001096275
- Employer ID (EIN)35-269689512
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company12
- Incorporated inNevada12
- Fiscal year endsDecember 311
- Industry code (SIC)3714 Motor Vehicle Parts & Accessories1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address2500 N America Dr., West Seneca, NY 142241
- Phone1-888-554-87891
- Shares outstanding15,298,333 as of Aug 11, 202611
- Public float$15.6M as of Jun 30, 202512
- AuditorLumsden & McCormick, LLP, Buffalo, New York PCAOB ID 130; no auditor attestation of internal control over financial reporting12
- On EDGAR sinceOct 13, 19991
- Filings629 in all: 8-K (222), 10-Q (70), 4 (53), CORRESP (33), UPLOAD (27), 10-K (24), NT 10-Q (19), 3 (15)1
All 53 form types
EFFECT (11), NT 10-K (10), 1-A/A (8), 10QSB (8), 8-K/A (8), DEF 14C (8), S-1 (8), 424B5 (7), PRE 14C (7), 10SB12G/A (6), DEF 14A (6), D (5), S-1/A (5), S-8 (5), 5 (4), D/A (4), S-3 (4), SC 13D/A (4), 1-A (3), 10-K/A (3), 10-Q/A (3), 10KSB (3), PRE 14A (3), PRER14C (3), SC 13D (3), SC 13G (3), SCHEDULE 13G/A (3), 424B4 (2), QUALIF (2), SCHEDULE 13G (2), 1-A-W (1), 10QSB/A (1), 10SB12G (1), 15-12G (1), 15F-12G/A (1), 25-NSE (1), 424B7 (1), 8-A12B (1), ARS (1), CERT (1), PRER14A (1), RW (1), S-1MEF (1), SC 13G/A (1), SC 14F1 (1)
- Latest filingsAnnual report (10-K) Mar 26, 2026
Quarterly report (10-Q) Aug 11, 2026
Proxy statement (DEF 14A) Jul 20, 2026
Latest 8-K (8-K) Oct 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.001 per share | WKSP | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).12
Risk factors and legal proceedings
The risks Worksport Ltd names in Item 1A of its 10-K filed Mar 26, 2026: 45 risks under these headings, as written.12
- Risks Related to Our Business
- We have expressed substantial doubt about our ability to continue as a going concern.
- Our business, results of operations and financial condition could be adversely affected by the effects of widespread public health events or outbreaks that are beyond our control.
- We will require additional capital to fund our operations, and such capital may not be available on acceptable terms, or at all.
- We have only sold tonneau covers, the market size of which is limited. Our long-term results depend upon our ability to successfully introduce and market new products, which may expose us to new and increased challenges and risks.
- We may not succeed in establishing, maintaining and strengthening our brand, which would materially and adversely affect customer acceptance of our products and our business, prospects, financial condition, results of operations and cash flows.
- The U.S. Central Bank has provided forward-looking guidance of relatively high interest rates plateauing for the near future.
- Continued uncertain economic conditions, including inflation and the risk of a global recession could impair our ability to forecast and may harm our business, operating results, including our revenue growth and profitability, financial condition and cash flows.
- Our business and operations would suffer in the event of computer system failures, cyberattacks or a deficiency in our cybersecurity, or an inability to effectively adopt and govern emerging technologies, including artificial intelligence, or a natural disaster.
- We may not be able to accurately estimate the demand for our tonneau covers, which could result in inefficiencies in our production and hinder our ability to generate revenue.
- Our future growth may be limited.
- We rely on one supplier for the production of our outsourced soft tonneau covers, which may hinder our ability to grow.
The other 34 risks
- We rely on key personnel, especially Steven Rossi, our Chief Executive Officer, President and Chairman of the Board.
- We depend on intellectual property rights that may be infringed upon, and we may infringe upon the intellectual property rights of others.
- We may not be able to protect our intellectual property rights throughout the world, which could negatively impact our business.
- Our patents might not protect our technology from competitors, in which case we may not have any exclusionary advantage over competitors in selling any products that we may develop.
- Any trademarks we may obtain may be infringed or successfully challenged, resulting in harm to our business.
- Much of our intellectual property is protected as trade secrets or confidential know-how.
- We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
- Intellectual property rights do not necessarily address all potential threats to our business.
- We may need to defend ourselves against patent or trademark infringement claims, which may be time-consuming and cause us to incur substantial costs.
- If third parties initiate litigation claiming that our products infringe their patent or other intellectual property rights, we will need to defend against such proceedings.
- Confidentiality agreements with employees and others may not adequately prevent the disclosure of trade secrets and other proprietary information.
- There are risks associated with outsourced production that may result in a decrease in our profit.
- We have competition for our market share which could harm our sales.
- We may not have sufficient product liability insurance to cover potential damages.
- We may produce products of inferior quality or perceived inferior quality which would cause us to lose customers.
- Geopolitical conditions, including direct or indirect acts of war or terrorism, could have an adverse effect on our operations and financial results.
- We currently, and may in the future, have assets held at financial institutions that may exceed the insurance coverage offered by the Federal Deposit Insurance Corporation (“FDIC”), the loss of such assets would have a severe negative effect on our operations and liquidity.
- Risks Associated with Outsourced Manufacturing and Foreign Sourcing
- Evolving U.S. trade regulations and policies with China have in the past and may in the future have a material and adverse effect on our business, financial condition and results of operations.
- There are risks associated with outsourced production in China, and their laws may have a material adverse effect on our financial stability.
- We engage in cross-border sales transactions which present tax risks among other obstacles.
- We are subject to foreign currency risk which may adversely affect profitability.
- Changes in U.S. government policies or regulations, including potential rollbacks of electric vehicle initiatives, could adversely affect our business, strategy, and growth prospects.
- Risks Related to the Ownership of Our Securities
- We have a large number of authorized but unissued shares of our common stock which will dilute existing ownership positions when issued.
- Our common stock or warrants may be affected by limited trading volume and price fluctuations, which could adversely impact the value of our common stock.
- We may need, but be unable, to obtain additional funding on satisfactory terms, which could dilute our stockholders or impose burdensome financial restrictions on our business.
- Our stock ownership structure has the effect of concentrating voting control with our Chief Executive Officer and Chairman, Steven Rossi, which will limit the ability of other shareholders to influence the outcome of important decisions.
- If research analysts do not publish research about our business, or if they issue unfavorable commentary or downgrade our common stock, our stock price and trading volume could decline.
- Anti-takeover provisions in our charter documents and Nevada law could discourage, delay or prevent a change of control of our Company and may affect the trading price of our common stock.
- We do not intend to pay dividends in the foreseeable future.
- Risks Associated with Holding Cryptocurrency Reserves
- Our Bitcoin acquisition strategy may expose us to various risks associated with bitcoin.
- Bitcoin is a highly volatile asset.
- Changes in our ownership of bitcoin could have accounting, regulatory and other impacts.
- We may be subject to regulatory developments related to crypto assets and crypto asset markets, which could adversely affect our business, financial condition, and results of operations.
- The acceptance of blockchain and digital assets as payment on our platform introduces significant risks, including, without limitation, regulatory uncertainty, market volatility, and operational challenges.
Legal proceedings
From time to time, we are involved in lawsuits, claims, investigations, and proceedings. We are not presently a party to any material pending or threatened legal proceedings, nor do we have any knowledge of any such pending claim.
The opening of Item 3, Legal Proceedings.12
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARWorksport Ltd filings on SEC EDGAR
- 2SEC EDGARWorksport Ltd filings on SEC EDGAR
- 3SEC EDGARWorksport Ltd 10-K for fiscal 2025
- 4SEC EDGARWorksport Ltd 10-K for fiscal 2019
- 5SEC EDGARWorksport Ltd 10-K for fiscal 2020
- 6SEC EDGARWorksport Ltd 10-K for fiscal 2021
- 7SEC EDGARWorksport Ltd 10-K for fiscal 2022
- 8SEC EDGARWorksport Ltd 10-K for fiscal 2023
- 9SEC EDGARWorksport Ltd 10-K for fiscal 2024
- 10SEC EDGARWorksport Ltd 10-Q for fiscal 2026
- 11SEC EDGARWorksport Ltd 10-Q for fiscal 2026
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- 14SEC EDGARSteven F. Rossi, Chair
- 15SEC EDGARSteven F. Rossi, President
- 16SEC EDGARA. J. Boisdrenghien, President
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- 20SEC EDGARLorenzo Rossi, Treasurer
- 21SEC EDGARCraig William Loverock, Board member
- 22SEC EDGARNed L. Siegel, Board member
- 23SEC EDGARWilliam J. Caragol, Board member
- 24SEC EDGARRegulation FD disclosure
- 25SEC EDGARShareholder vote
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- 27SEC EDGARRegulation FD disclosure
- 28SEC EDGARListing notice or transfer
- 29SEC EDGARRegulation FD disclosure
- 30SEC EDGARRegulation FD disclosure
- 31
- 32SEC EDGARRegulation FD disclosure
- 33SEC EDGARRegulation FD disclosure
- 34
- 35SEC EDGARRegulation FD disclosure
- 36NasdaqNasdaq calendar
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