Company: GVSE
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0001493152-25-003624
Chunk: 86

Company: Gameverse Interactive Corp
Filing Date: 2025-01-24
Form: DRS/A
Chunk 86
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verse” or the “Company”) was incorporated in the State of Nevada on September 13, 2022, and is based in Boca Raton, Florida. The Company is a software and video game development company that specializes in technologies, with a focus on creating immersive and engaging experiences for players and developers of all ages around the world.

Going Concern

The accompanying Financial Statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying Financial Statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. As of December 31, 2023, Management assessed the going concern and found the Company will not have sufficient liquidity for the next 12 months such that there is substantial doubt about its ability to continue as a going concern company. During the year ended December 31, 2023, the Company raised capital from investors through sales of securities. The Company has not begun normal business operations, which would allow the company to improve cash flow and pay down obligations. Since inception on September 13, 2022, we have reported net losses, and negative cash flows from operations, which raised substantial doubt about the Company’s ability to continue as a going concern. The appropriateness of using the going concern basis is dependent upon, among other things, raising additional capital. Historically, the Company has obtained funds from investors since its inception through sales of our securities. The Company will also generate additional working capital when they launch their TruWorlds internet platform during the summer of 2024 and continue to pursue its business plan and purposes.

Note 2 –Summary of Significant Accounting Policies

This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.

Cash and Cash Equivalents

The Company’s cash is comprised of highly liquid investments with an original maturity of less than three (3) months or less.

Concentration Risk

Cash includes amounts deposited in financial institutions in excess of insurable Federal Deposit Insurance Company (FDIC) limits. At times throughout the year, the Company may maintain cash balances in certain bank accounts in excess of FDIC limits. As of December 31, 2023