Company: GVSE
Filing Date: 2025-04-17
Form Type: S-1/A
Source: 0001641172-25-005196
Chunk: 96

Company: Gameverse Interactive Corp
Filing Date: 2025-04-17
Form: S-1/A
Chunk 96
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                      |     | As of    
 December 
 31,      
 2024     |          |   |     | 2023 |         |   |
|:-----------------------------|:----|:---------|---------:|:--|:----|:-----|--------:|:--|
| Deferred tax                 
 asset                        |     | $        |  158,688 |   |     | $    |  70,223 |   |
| Valuation                    
 allowance                    |     |          | (158,688 | ) |     |      | (70,223 | ) |
| Total deferred tax provision |     | $        |        - |   |     | $    |       - |   |

As of December 31, 2024, the Company had approximately $.76 million in tax loss carryforwards that can be utilized in future periods to reduce taxable income through 2040. The deferred tax liability balances as of December 31, 2024 and 2023 were zero.

| F-12 |

Note 9 – Reportable Segments

The Company manages its business activities in a single operating and reportable segment that will leverage the global technology platform currently in development. The chief operating decision maker (“CODM”) of the Company is its chief executive officer (“CEO”) who assesses performance of our single operating segment and decides how to allocate resources based on net loss that is reported on the statement of income. The CODM considers net loss, exclusive of stock-based compensation expense, in deciding how to allocate financial resources, including to its people, professional services providers, technology, infrastructure and safety systems. The measure of segment assets is reported on the balance sheet as total assets.

The following represents segment information for the Company’s single operating segment for the years ended December 31, 2024 and 2023:

|                               |     | For                          
 the years ended December 31, |    2024 |     |   |      2023 |
|:------------------------------|:----|:-----------------------------|--------:|:----|:--|----------:|
| Revenue                       |     | $                            |       - |     | $ |         - |
| Less:                         |     |                              |         |     |   |           |
| Employee expense              |     |                              | 268,448 |     |   |   256,940 |
| Professional services expense |     |                              | 134,369 |     |   |     2,718