Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 477

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 477
---
 no impairment charges related to intangible assets incurred during the year ended December 31, 2023.

    F-31

8.
Accrued expenses and other current liabilities

Accrued
liabilities consist of the following:

 Schedule of accrued liabilities

    December 31, 2024  
    December 31, 2023 
  
    Compensation expense 
    $4,919,796  
    $1,257,210 
  
    Convertible debt principal and interest due 
     930,105  
     762,442 
  
    Debt modification fees 
     -  
     650,000 
  
    Professional fees 
     1,546,639  
     983,954 
  
    Accounts payable accruals 
     5,219,463  
     872,387 
  
    Lease abandonment 
     376,959  
     376,959 
  
    Other 
     701,217  
     386,197 
  
    Total accrued expenses and other current liabilities 
    $13,694,179  
    $5,289,149 

9.
Leases

On
June 30, 2021, the Company acquired Complexity. Complexity leased a building in Frisco, Texas. Upon the sale of Complexity (see Note
4), the lease was assigned to GameSquare Esports (USA), Inc. and the Company entered into an agreement to sublease the building to Complexity
for a 12-month period. The lease has an original lease period expiring in April 2029. The lease agreement does not contain any material
residual value guarantees or material restrictive covenants.

On
April 1, 2024, GameSquare Holdings, Inc. leased a building in Culver City, CA, which it later assigned to Faze Media Inc. on May 15,
2024. The lease has an original lease period expiring in March 2027. The lease agreement does not contain any material residual value
guarantees or material restrictive covenants.

The
components of operating lease expense are as follows:

 Schedule of components operating lease expense

    2024  
    2023 

    Year ended December 31, 

    2024  
    2023 
  
    Operating lease expense 
     730,561  
     543,086 
  
    Variable lease expense