Company: GAME
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001641172-25-007822
Chunk: 19

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 19
---
 2025 held by GSQ Partners LLC. The address for GSQ Partners LLC is 23 Main Street, Suite E, Tiburon, CA 94920.       |

Item 13. Certain Relationships and Related Transactions, and Director Independence

Related Party Transactions

Credit Facility Payable

On June 30, 2022, the Company entered into an agreement for a $5.0 million credit facility (the “Facility”) for a one-year term with Goff & Jones Lending Co, LLC., a related party to the Company by virtue of one of its directors. The Facility matured on June 30, 2023 (the “Maturity Date”). During the year ended December 31, 2023, the Company recognized $23 thousand in interest expense and $80 thousand in legal fees in connection with the Facility. The Facility was paid off in April 2023, and has not been renewed.

Convertible Debenture with a Director of the Company as Counterparty

On September 1, 2022, Engine extended convertible debentures that were due to expire in October and November 2022 with an aggregate principal amount of $1.3 million. Key terms include (a) maturity date of August 31, 2025, (b) interest rate of 7% (interest to be paid in full at maturity) and (c) conversion price of $4.40. The convertible debenture is beneficially held by a director of the Company.

| 13 |

Director Independence

The Board has determined that all of the current directors are independent pursuant to Nasdaq Rule 5605 (“Nasdaq Rules”) except for Louis Schwartz, President and Chairman of the Board of Directors. The members of the Audit Committee are Justin Kenna, Thomas Walker, and Jeremi Gorman, all of whom are independent directors as determined by the Nasdaq Rules. The members of the Compensation Committee are Travis Goff and Stuart Porter, both of whom are independent directors as determined by the Nasdaq Rules. The members of the Nominating Committee are Thomas Walker, Travis Goff, and Stu Porter, all of whom are independent as determined by the Nasdaq Rules.

Item 14. Principal Accounting Fees and Services

AUDIT AND NON-AUDIT FEES

The following table presents fees for professional audit services rendered by Kreston GTA, our independent auditors, for the fiscal years ended December 31, 2024 and December 31, 2023, respectively