Company: GVSE
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001641172-25-019925
Chunk: 102

Company: Gameverse Interactive Corp
Filing Date: 2025-07-16
Form: S-1/A
Chunk 102
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 that specializes in cutting-edge technologies such as virtual reality and artificial intelligence, 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. Since inception on September 13, 2022, we have reported net losses and negative cash flows from operations. We also expect to incur a net loss and negative cash flows from operations in 2025 as we continue to focus on the build out of our platform, which raises substantial doubt about the Company’s ability to continue as a going concern. During the year ended December 31, 2024 and during the three months ended March 31, 2025, the Company raised capital from investors through sales of common stock and plans to raise additional capital during the remainder of 2025. Based upon the existing cash balance and uncertainty regarding our ability to raise additional capital, management determined that the Company will not have sufficient liquidity to fund its operations for the twelve-month period following the issuance of these financial statements. The accompanying Financial Statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern.

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. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in these accounts.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Certain accounting estimates of the Company