Company: GAME
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023972
Chunk: 108

Company: GameSquare Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 108
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916)
  
    Balance, June 30, 2025 
    $1,669,330  
    $-  
    $-  
    $1,669,330 

    Contractual principal balances outstanding: 

    As of December 31, 2024 
    $1,250,000  
    $4,124,299  
    $10,000,000  
    $15,374,299 
  
    As of June 30, 2025 
    $1,250,000  
    $-  
    $-  
    $1,250,000 
  
    Contractual
    principal balances outstanding 
    $1,250,000  
    $-  
    $-  
    $1,250,000 

    (1)
    None of the changes in
    fair value during the period were due to instrument-specific changes in credit risk.

9.
Shareholders’ Equity

(a)
Description of the Company’s securities

The
Company is authorized to issue an unlimited number of common shares, with no par value. Holders of common shares are entitled to one
vote in respect of each common share held at shareholder meetings of the Company.

(b)
Activity for the periods presented

On
January 22, 2025, Yorkville converted $3.7 million of its then outstanding
$4.1 million convertible debt balance (see Note 8).. Yorkville was issued 5,032,233 common shares for conversion of $3.7 million principal ($4.0 million
fair value), with the remaining $411 thousand refinanced into the promissory note with Yorkville (see Note 8)..

On
March 10, 2025, the Company issued 1,094,891 common shares to pay an outstanding settlement due to the former CEO of Faze Clan for $1.5
million.

On
April 1, 2025, the Company issued 87,946 common shares to Gigamoon as payment of accrued interest on the Gigamoon CD through the conversion
date (see Note 4).

On
June 6, 2025, the Company issued 210,403 common shares to Faze Media for payment of Faze tradename license fees for the period covering
May 15, 2024 to December 31, 2024. Fees are computed as 2.5% of total