Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 41

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 shares were issued in connection with conversion of $100 thousand in principal under the Yorkville CD
with a fair value of $108 thousand.

On
September 4, 2024, 80,000 common shares were issued in settlement of outstanding amounts payable of $0.1 million to Yorkville (first
half of the SEPA commitment fee).

During
the nine months ended September 30, 2024, the Company issued 1,086,559 common shares from the exercise of Restricted Share Units (“RSUs”)
under its equity incentive plan (see Note 13(b)).

(c)
Activity for the periods presented – preferred shares

On
July 24, 2025, the Company entered into a subscription agreement with Robert Leshner (“Subscriber”), pursuant to which Subscriber
purchased from the Company 3,433.33 shares of Series A-1 preferred stock, in consideration for Crypto Punk 5577, an NFT with a fair value
of $5.15 million. The issuance was accounted for as a nonmonetary exchange and the preferred stock was recorded at the fair value of
the preferred shares issued.

12.
Net loss per share

As
the Company incurred a net loss for the three and nine months ended September 30, 2025 and 2024, the inclusion of certain options, restricted
stock units, warrants, and contingent shares in the calculation of diluted earnings per share would be anti-dilutive and, accordingly,
were excluded from the diluted loss per share calculation.

    20

The
following table summarizes potential common shares that were excluded as their effect is anti-dilutive:

Schedule of potential common shares excluded as their effect is anti-dilutive 

    Three and nine months ended September 30, 

    2025  
    2024 
  
    Options and RSUs outstanding 
     5,086,976  
     2,448,725 
  
    Warrants outstanding 
     8,563,568  
     1,978,481 
  
    Shares issuable upon conversion of convertible debt 
     -  
     9,711,104 
  
    Total 
     13,650,544  
     14,138,310 

13.
Share-based compensation

The
Company grants share purchase options (“Options”) for the purchase of common shares to its directors, officers, employees
and consultants.

Options
may be exercisable over periods of