Worksport Ltd 10-Q

Item 5. Other Information Subsequent Events ● Subsequent to September 30, 2023, the Company sold a total of 71,698 shares of common stock for total net proceeds of $118,697. The sale of the shares of common stock was in connection with the Form S-3 shelf registration statement, which was declared effective by the SEC on October 13, 2022 allowing the Company to issue up to $30,000,000 of shares of common stock and prospectus supplement covering the offering, issuance and sale of up to $13,000,000 of shares of common stock that may be issued and sold under the At The Market Offering Agreement dated as of September 30, 2022. ● Subsequent to September 30, 2023, 47,000 stock options with an estimated valuation of $168,213 were cancelled upon the termination of the employee. ● On October 31, 2023, the Company granted 25,000 non-qualified stock options to an employee with an exercise price of $1.44 and an expiry date of October 31, 2033. The options shall vest in full on October 31, 2035. ● On November 2, 2023, the Company closed a sale of 1,925,000 shares of common stock and 1,575,000 pre-funded warrants for a total net proceeds of $4,261,542. In association with sale, the Company also issued 7,000,000 warrants convertible for 7,000,000 shares of common stock at an exercise price of $1.34. The warrants are exercisable six months after issuance and will expire five and a half years from the issuance date. 30 Item 6. Exhibits EXHIBIT No. DESCRIPTION 31.1* Section 302 Certification of Chief Executive Officer 31.2 * Section 302 Certification of Chief Financial Officer 32.1 ** Section 906 Certifications of Chief Executive Officer 32.2** Section 906 Certifications of Chief Financial Officer 101.INS* Inline XBRL Instance Document 101.SCH * Inline XBRL Taxonomy Extension Schema Document 101.CAL * Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.LAB * Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE * Inline XBRL Taxonomy Extension Presentation Linkbase Document 101.DEF * Inline XBRL Taxonomy Extension Definition Linkbase Document 104 * Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith. ** Exhibits 32.1 and 32.2 are being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, nor shall such exhibits be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise specifically stated in such filing. 31 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. WORKSPORT LTD. Dated: November 14, 2023 By: /s/ Steven Rossi Steven Rossi Chief Executive Officer (Principal Executive Officer) Dated: November 14, 2023 By: /s/ Michael Johnston Michael Johnston Chief Financial Officer (Principal Financial and Accounting Officer) 32