Company: GVSE
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0001493152-25-003624
Chunk: 88

Company: Gameverse Interactive Corp
Filing Date: 2025-01-24
Form: DRS/A
Chunk 88
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 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             |

| F-9 |

Note 2 –Summary of Significant Accounting Policies, continued

techniques in which one or more significant inputs or significant value drivers are unobservable.

Recently Issued Accounting Pronouncements

Management reviewed currently issued pronouncements and does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying condensed financial statements.

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 and Cash Equivalents

The Company maintains its cash in accounts at financial institutions, which may, at times, exceed federally insured limits. The Company has not experienced any losses on such accounts and does not feel it is exposed to any significant risk with respect to cash. There were amounts exceeding federally insured limits at December 31, 2023, and 2022 of $93,086 and $0, respectively.

Note 4– Commitments and Contingencies

Litigation

From time to time, the Company is party to various claims or actions arising out of the ordinary course of business. While any proceeding or litigation contains an element of uncertainty, management believes no matter exists that would have a material impact on the Company’s financial position, liquidity, or results of operations.

There was no on-going litigation for the years ended December 31, 2023, and 2022.

Note 5– Accrued Expenses

As of December 31, 2023, and 2022, respectively, the Company had accrued expenses of $317,147 and $62,454. The accrued expenses include the payroll costs of engaging programmers utilized in the design and creation of the TruWorlds platform, as well as engaging advisors and consultants and other costs associated with readying the