Company: GMER
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010826
Chunk: 5

Company: GOOD GAMING, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 provided transaction verification services within the digital currency networks of cryptocurrencies,
and hosted numerous esports tournaments, which business operations the Company formally exited by selling those assets and related intellectual
property. The Company seeks to expand its footprint by creating additional partnerships with other telecommunications providers, device
manufacturers and game publishers.

Going Concern

These financial statements have been prepared on a
going concern basis, implying that the Company will continue to realize its assets and discharge its liabilities in the normal course
of business. The Company has generated minimal revenues to date, has never paid any dividends, and is unlikely to pay dividends or generate
significant earnings in the immediate or foreseeable future. As of March 31, 2025, the Company had a working capital deficit of $953,017
and an accumulated deficit of $11,655,802.

The continuation of the Company as a going concern
is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment
of profitable operations from the Company’s future business. These factors raise substantial doubt regarding the Company’s
ability to continue as a going concern for a period of one year from the issuance of these financial statements.

These financial statements do not include any adjustments
to the recoverability and classification of recorded asset amounts and the classification of liabilities that might be necessary should
the Company be unable to continue as a going concern.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements have
been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions
to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S.
generally accepted accounting principles for complete consolidated financial statements. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair presentation have been included.

Use of Estimates

The preparation of financial statements in conformity
with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions
related to the fair values of convertible preferred stock, stock-based compensation, and deferred income tax asset valuation allowances.
The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes