Company: GVSE
Filing Date: 2025-04-17
Form Type: S-1/A
Source: 0001641172-25-005196
Chunk: 91

Company: Gameverse Interactive Corp
Filing Date: 2025-04-17
Form: S-1/A
Chunk 91
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 |      |   343,086 |   |     |      |          - |   |
| Cash, end of year                                  |     | $    |   993,333 |   |     | $    |    343,086 |   |
| Supplemental Disclosures of Cash Flow Information: |     |      |           |   |     |      |            |   |
| Cash Paid for Income Taxes                         |     |      |         - |   |     |      |          - |   |
| Cash paid for Interest                             |     |      |         - |   |     |      |          - |   |

| F-7 |

Note 1 – Organization and Line of Business

Gameverse Interactive Corp (“Gameverse” 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 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, the Company raised capital from investors through sales of common stock and plans to raise additional capital during 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