Company: GVSE
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001641172-25-019925
Chunk: 107

Company: Gameverse Interactive Corp
Filing Date: 2025-07-16
Form: S-1/A
Chunk 107
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 2025, the Company did not record income tax benefits for the net operating losses incurred due to the uncertainty of realizing a benefit from these losses.

The Company files income tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. As of March 31, 2025, there were no pending tax examinations. The Company is open to future tax examination under statute by the IRS from 2022 to present.

Note 9 – Reportable Segments

The Company manages its business activities in a single operating and reportable segment that will leverage the global technology platform currently in development. The chief operating decision maker (“CODM”) of the Company is its chief executive officer (“CEO”) who assesses performance of our single operating segment and decides how to allocate resources based on net loss that is reported on the statement of income. The CODM considers net loss, exclusive of stock-based compensation expense, in deciding how to allocate financial resources, including to its epeople, professional services providers, technology, infrastructure and safety systems. The measure of segment assets is reported on the balance sheet as total assets.

The following represents segment information for the Company’s single operating segment for the three months ended March 31, 2024 and 2025:

|                               |     | For the three months ended March 31, |   2024 |     |   |    2025 |
|:------------------------------|:----|:-------------------------------------|-------:|:----|:--|--------:|
| Revenue                       |     | $                                    |      - |     | $ |       - |
| Less:                         |     |                                      |        |     |   |         |
| Employee expense              |     |                                      | 61,040 |     |   |  65,120 |
| Professional services expense |     |                                      | 28,776 |     |   |  84,113 |
| Other expense                 |     |                                      |  5,642 |     |   |  20,096 |
| Segment net loss              |     |                                      | 95,458 |     |   | 169,329 |
| Reconciling items             |     |                                      |        |     |   |         |
| Investment gain               |     |                                      |      - |     |   |  15,000 |
| Net loss                      |     | $                                    | 95