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EXCHANGE COMMISSION**\n\n**Washington,\nD.C. 20549**\n\n \n\n**FORM\n10-Q**\n\n \n\n☒\nQUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor\nQuarterly Period Ended: **March 31, 2026**\n\n \n\n☐\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\n**Commission\nFile No. 001-40681**\n\n \n\n**Worksport\nLtd.**\n\n(Exact\nName of Small Business Issuer as specified in its charter)\n\n \n\n**Nevada**\n \n**35-2696895**\n\n(State\nor other jurisdiction of\n \n(I.R.S.\nEmployer\n\nincorporation\nor organization)\n \nIdentification\nNo.)\n\n \n\n**2500\nN America Dr, West Seneca, NY**\n \n**14224**\n\n(Address\nof principal executive offices)\n \n(Zip\nCode)\n\n \n\nRegistrant’s\nTelephone Number, including area code: **(888) 554-8789**\n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Act:\n\n \n\n**Title\nof each class:**\n \n**Trading\nSymbol(s)**\n \n**Name\nof each exchange on which registered:**\n\nCommon\nStock\n \nWKSP\n \nThe\nNasdaq Stock Market LLC\n\n \n\nSecurities\nregistered pursuant to Section 12(g) of the Act: None\n\n \n\nIndicate\nby check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the past 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has\nbeen subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant\nwas required to submit post such files). Yes ☒ No ☐\n\n \n\nIndicate\nby check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”\n“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge\naccelerated filer\n☐\nAccelerated\nfiler\n☐\n\nNon-accelerated\nfiler\n☒\nSmaller\nreporting company\n☒\n\n \n \nEmerging\ngrowth company\n☐\n\n \n\nIf\nan emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nAs\nof May 13, 2026, the Registrant had 12,531,540 shares of common stock, par value $0.001 per share, issued and outstanding.\n\n \n\n \n\n \n\n \n\n \n\n** **\n\n****\n\n****\n\n**QUARTERLY REPORT ON FORM 10-Q**\n\n**TABLE\nOF CONTENTS**\n\n \n\n \nPage\n\n[PART\nI. FINANCIAL INFORMATION](#HK_001)\n \n\n[Item\n1. Financial Statements.](#HK_002)\n \n\n[Condensed\nConsolidated Balance Sheets as at March 31, 2026 (Unaudited) and December 31, 2025](#HK_007)\n3\n\n[Condensed\nConsolidated Statements of Operations and Comprehensive Loss for the three months ended March 31, 2026 and 2025 (Unaudited)](#HK_003)\n4\n\n[Condensed\nConsolidated Statements of Shareholders’ Equity for the three months ended March 31, 2026 and 2025 (Unaudited)](#HK_004)\n5\n\n[Condensed\nConsolidated Statements of Cash Flow for the three months ended March 31, 2026 and 2025 (Unaudited)](#HK_005)\n6\n\n[Notes\nto the Condensed Consolidated Financial Statements (Unaudited)](#HK_006)\n7\n\n \n \n\n[Item\n2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#sa_001)\n20\n\n \n \n\n[Item\n3. Quantitative and Qualitative Disclosures About Market Risk](#sa_002)\n27\n\n \n \n\n[Item\n4. Controls and Procedures](#sa_003)\n27\n\n \n \n\n[PART\nII OTHER INFORMATION](#sa_004)\n \n\n \n \n\n[Item\n1. Legal Proceedings](#sa_005)\n28\n\n \n \n\n[Item\n1A. Risk Factors](#sa_006)\n28\n\n \n \n\n[Item\n2. Unregistered Sales of Equity Securities and Use of Proceeds](#sa_007)\n28\n\n \n \n\n[Item\n3. Defaults Upon Senior Securities](#sa_008)\n29\n\n \n \n\n[Item\n4. Mine Safety Disclosures](#sa_009)\n29\n\n \n \n\n[Item\n5. Other Information](#sa_010)\n29\n\n \n \n\n[Item\n6. Exhibits](#sa_011)\n30\n\n \n \n\n[SIGNATURES](#sa_012)\n31\n\n \n\n2\n\n \n\n \n\n**PART\nI. FINANCIAL INFORMATION**"}