Company: GAME
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010979
Chunk: 90

Company: GameSquare Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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 206,507 
  
    Transfer to promissory
    note payable 
     -  
     (411,518)
     
     -  
     (411,518)
  
    Conversion of debt 
     -  
     (3,992,238)
     
     -  
     (3,992,238)
  
    Change
    in fair value(1) 
     (9,069) 
     (448,500)
     
     124,092  
     (333,477)
  
    Balance, March 31,
    2025 
    $1,641,954  
    $- 
     
    $10,217,808  
    $11,859,762 

    Contractual principal balances outstanding: 

    As of December 31, 2024 
    $1,250,000  
    $4,124,299 
     
    $10,000,000  
    $15,374,299 
  
    As of March 31, 2025 
    $1,250,000  
    $- 
     
    $10,000,000  
    $11,250,000 
  
    Contractual principal balances outstanding 
    $1,250,000  
    $- 
     
    $10,000,000  
    $11,250,000 

    (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 2, 2025, the Company extinguished its outstanding convertible note and standby equity purchase agreement with Yorkville Advisors
Global L.P. (“Yorkville”). 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 discussed above.

Issued
1,094,891 common shares to pay an outstanding settlement due to the former CEO of F