Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 167

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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 plan because the number of shares then authorized for issuance under the
Company’s articles of incorporation was insufficient. Accordingly, no option agreements were executed, and the options were never
formally issued.

Nasdaq
bid price requirement 

On
October 16, 2024, we received a letter from The Nasdaq Stock Market LLC indicating that we have failed to comply with the minimum bid
price requirement of Nasdaq Listing Rule 5550(a)(2). Nasdaq Listing Rule 5550(a)(2) requires that companies listed on the Nasdaq Capital
Market maintain a minimum closing bid price of at least $1.00 per share. On July 22, 2025, we received a letter from the NASDAQ Listing
Qualifications Staff notifying us that we have regained compliance with NASDAQ’s minimum bid price requirements for continued listing
on the Nasdaq Capital Market. The letter noted that as a result of the closing bid price of the Company’s common stock having been
at $1.00 per share or greater for at least ten consecutive business days, from July 8, 2025 to July 21, 2025, we have regained compliance
with Listing Rule 5550(a)(2)and the matter is now closed.

Gigamoon
CD Conversion

As
previously disclosed, on November 13, 2024, the Company and Gigamoon entered into a senior secured convertible promissory note in the
principal amount of $10 million (the “Gigamoon CD”). Subsequently, on April 2, 2025, GameSquare and Gigamoon entered into an exchange agreement,
effective April 1, 2025, pursuant to which, the parties agreed to accelerate the exercise date under the Gigamoon CD to April 1, 2025.
As a result, on April 1, 2025, GameSquare transferred the 5,725,000 shares of Series A-1 Preferred Stock of Faze Media Inc. to Gigamoon.

Promissory
Note

On
March 25, 2025, the Company entered into a secured promissory note with Blue & Silver Ventures, Ltd. The principal amount of $2 million
under the promissory note is payable on demand and no later than July 1, 2025. The promissory note bears interest at a rate of ten percent
(10%) per annum, with a default interest rate of fifteen percent (15%) per