Company: GMER
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001868
Chunk: 13

Company: GOOD GAMING, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 13
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 it is the management’s
    view that such a committee, including a financial expert member, is the important entity-level control over the Company’s financial
    statements. Currently, the Board of Directors acts in the capacity of the Audit Committee and does not include a member that is considered
    to be independent of management to provide the necessary oversight over management’s activities.

    2.
    We
    did not maintain appropriate cash controls – Until June 30, 2017, we did not maintain sufficient internal controls over
    financial reporting for the cash process, including failure to segregate cash handling and accounting functions, and did not require
    dual signature on our bank accounts. From June 30, 2017 through December 31, 2024, due to the change in corporate officers and board
    of directors, we have implemented appropriate cash controls and enforced separation of accounting functions to appropriately maintain
    cash controls.

    3.
    We
    implemented appropriate information technology controls – As of December 31, 2024, we retain copies of all financial data
    and material agreements. There is a formal procedure or evidence of normal backup of our data or off-site storage of the data in
    the event of theft, misplacement, or loss due to unmitigated factors.

Accordingly,
we have concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or
interim financial statements will not be prevented or detected on a timely basis by the Company’s internal controls.

Due
to the material weaknesses described above, we did not maintain effective internal control over financial reporting as of December 31,
2024 based on criteria established in Internal Control—Integrated Framework (2013) issued by COSO.

Continuing
Remediation Efforts to address deficiencies in Company’s Internal Control over Financial Reporting

The
Company has engaged in a merit business and has sufficient personnel available. Our Board of Directors, in particular, has established
the following remediation measures in connection with the aforementioned deficiencies:

    1.
    Our
    Board of Directors has nominated a financial expert on our Board of Directors.

    2.
    We
    have appointed additional personnel to assist with the preparation of our monthly financial reporting, which includes preparation
    of the monthly bank reconciliations.

Changes
in Internal Control over Financial Reporting

There
are no recent changes in internal controls.

ITEM
9B. OTHER INFORMATION DATA

(a) Disclosure in lieu of reporting on a