Company: GVSE
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001641172-25-019925
Chunk: 104

Company: Gameverse Interactive Corp
Filing Date: 2025-07-16
Form: S-1/A
Chunk 104
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 SRM, the Company used Level 1 inputs by referencing the public trading price of SRM stock, which was $0.411 per share, or $205,500 in the aggregate, as of March 31, 2025, compared to the $190,500 fair value when acquired. As a result, the Company recorded an unrealized gain of $15,000 during the three months ended March 31, 2025.

Recently Adopted Accounting Pronouncements

In November 2023, the FASB Issued Accounting Standard Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). This standard requires disclosure of significant segment expenses, other segment items, and additional information about the chief operating decision maker (“CODM”). This update was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required. The Company retroactively adopted the required segment disclosures pursuant to ASU 2023-07 for the year ended December 31, 2023. Such adoption did not have an impact on our financial condition, results of operations, or cash flows.

Recently Issued Accounting Pronouncements

In November 2024, the FASB issued Accounting Standard Update No. 2024-03, Income Statement – Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”). This standard requires additional disclosures over certain expenses, including purchases of inventory, employee compensation, depreciation, intangible asset amortization, and other specific expense categories. This standard also requires disclosure of the total amount of selling expenses and the Company’s definition of selling expenses. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. We are evaluating the impact this update will have on our annual disclosures; however, it will not impact our financial condition, results of operations or cash flows.

| F-19 |

Note 3 – Concentrations

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash and accounts receivable. The Company maintains its cash balances in bank deposit and money market accounts which, at times, may exceed federally insured limits.

Cash