Company: GMER
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023550
Chunk: 7

Company: GOOD GAMING, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 it is more likely than not
it will utilize the net operating losses carried forward in future years. Unrecognized tax positions, if ever recognized in the consolidated
financial statements, are recorded in the statements of operations as part of the income tax provision. Our policy is to recognize interest
and penalties accrued on uncertain tax positions, if any, as part of the income tax provision. The Company has no liability for uncertain
tax positions. Unrecognized tax positions, if ever recognized in the consolidated financial statements, are recorded in the statements
of operations as part of the income tax provision. The Company’s policy is to recognize interest and penalties accrued on uncertain
tax positions, if any, as part of the income tax provision. The Company has no liability for uncertain tax positions.

Financial
Instruments

ASC
820, “Fair Value Measurements” and ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs
and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent,
objective evidence surrounding the inputs used to measure fair value. A financial instrument categorized within the fair value hierarchy
is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels
that may be used to measure fair value:

    F-6

Level
1

Level
1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level
2

Level
2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability
such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets
with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are
observable or can be derived principally from, or corroborated by, observable market data.

Level
3

Level
3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement
of the fair value of the assets or liabilities.

The
carrying values of all of our other financial instruments, which include accounts payable and accrued liabilities, and amounts due to
related parties approximate their current fair values because of their nature and respective maturity dates or durations.

Advertising
Expenses

Advertising
expenses are included in general and administrative expenses in the consolidated Statements of Operations and are expensed as incurred.
The Company incurred $25