Company: GVSE
Filing Date: 2025-04-17
Form Type: S-1/A
Source: 0001641172-25-005196
Chunk: 93

Company: Gameverse Interactive Corp
Filing Date: 2025-04-17
Form: S-1/A
Chunk 93
---
 prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:

| ● | Level                                                                                           
 1, defined as observable inputs such as quoted prices for identical instruments in active       
 markets;                                                                                        |
| ● | Level                                                                                           
 2, defined as inputs other than quoted prices in active markets that are either directly        
 or indirectly observable such as quoted prices for similar instruments in active markets        
 or quoted prices for identical or similar instruments in markets that are not active; and       |
| ● | Level                                                                                           
 3, defined as unobservable inputs in which little or no market data exists, therefore requiring 
 an entity to develop its own assumptions, such as valuations derived from valuation techniques  
 in which one or more significant inputs or significant value drivers are unobservable.          |

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 afterDecember 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.

| F-9 |

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