Company: GAME
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010979
Chunk: 91

Company: GameSquare Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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aze Clan for $1.5 million.

During
the three months ended March 31, 2025, the Company issued 62,500 common shares from the exercise of Restricted Share Units (“RSUs”)
under its equity incentive plan (see Note 11(b)).

On
March 7, 2024, 10,132,884 common shares of the Company were issued for the completion of the Merger (see Note 4).

In
conjunction with the Merger, on March 7, 2024, the Company completed a private placement in public equity financing (the “PIPE
Financing”) with certain investors in which the Company offered 7,194,244 units at a purchase price of $1.39 per unit for aggregate
gross proceeds of $10.0 million. Each unit consisted of one share of the Company’s common stock and a warrant to purchase 0.15
shares of the Company’s common stock. As a result, the Company issued an aggregate of 7,194,224 common shares of the Company and
warrants to purchase up to 1,079,136 shares of the Company pursuant to the PIPE Financing. Each warrant has an exercise price of $1.55
per share and expire on March 7, 2029 (see Note 12).

10.
Net loss per share

As
the Company incurred a net loss for the three months ended March 31, 2025 and 2024, the inclusion of certain Options, unvested stock
units, warrants, and contingent shares in the calculation of diluted earnings per share would be anti-dilutive and, accordingly, were
excluded from the diluted loss per share calculation.

    16

The
following table summarizes potential common shares that were excluded as their effect is anti-dilutive:

Schedule of potential common shares excluded as their effect is anti-dilutive 

    Three
    months ended March 31, 

    2025  
    2024 
  
    Options and RSUs outstanding 
     3,264,257  
     3,122,971 
  
    Warrants outstanding 
     1,978,481  
     2,403,226 
  
    Shares issuable upon conversion
    of convertible debt 
     4,284,090  
     2,159,090 
  
    Total 
     9,526,828  
     7,685,