Company: GVSE
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001641172-25-019925
Chunk: 35

Company: Gameverse Interactive Corp
Filing Date: 2025-07-16
Form: S-1/A
Chunk 35
---
 is two brothers who
want to change the world of gaming through innovative ideas where they see the sector lacking in today’s gaming world.

Operational Status and Milestones

Gameverse Interactive has an active community
of over 16,000 members on Discord and our Alpha web platform is currently operational with nearly-1,000 users, who are testing and transacting
on the platform.

Results of Operations

For the years ended December 31, 2024 and 2023

Our net loss in 2024 and 2023 was $421,262
and $2,016,070, respectively. The 2023 net loss includes $1,719,341 in stock based compensation expense in connection with the below
market sale of common stock during that year. Excluding the 2023 stock based compensation expense, operating expenses increased in 2024
compared to 2023 due to the costs of programmers utilized in the continued build out of the TruWorlds platform, as well as engaging advisors
and consultants and other costs associated with readying the Company for the IPO, including the costs related to auditing the Company’s
historical financial statements. Cash used in operations in 2024 was $369,515 compared to $79,674 in 2023. This increase is due to the
higher level of cash operating expense in 2024 as noted above.

For the three months ended March 31, 2025 and 2024

Through March 31, 2025, the Company has not generated any revenue and has an accumulated deficit of approximately $2.7 million. Net loss for the three months ended March 31, 2025 and 2024 was $154,329 and $95,458, respectively. Operating expenses increased in the three months ended March 31, 2025 compared to the prior year period due to the costs of programmers utilized in the continued build out of the TruWorlds platform, as well as engaging advisors and consultants and other costs associated with readying the Company for the IPO. Cash used in operations in the three months ended March 31, 2025 was $158,550 compared to $89,097 in the prior year period due to the higher operating expenses noted above.

Liquidity and Capital Resources

In 2024 and 2023, the Company received proceeds
of $1,024,000 and $422,760, respectively, from the sale of common stock in a friends and family round priced