Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 670

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 670
---
    Transaction costs 
     6,348,728  
     3,019,373 
  
    Arbitration settlement reserve 
     (229,250) 
     (1,041,129)
  
    Restructuring costs 
     1,334,717  
     545,456 
  
    Legal settlement 
     -  
     186,560 
  
    Loss on extinguishment of debt 
     1,032,070  
     2,204,737 
  
    Change in fair value of contingent consideration 
     501,118  
     45,648 
  
    Change in fair value of investment 
     473,563  
     515,277 
  
    Change in fair value of warrant liability 
     (84,449) 
     (968,757)
  
    Change in fair value of convertible debt carried at fair value 
     (559,212) 
     (538,354)
  
    Gain on disposition of subsidiary 
     (3,009,891) 
     - 
  
    Loss on disposition of assets 
     8,264,980  
     (40,794)
  
    Impairment expense 
     12,548,476  
     7,024,000 
  
    Loss from discontinued operations 
     1,760,153  
     5,006,792 
  
    Net loss attributable to non-controlling interest 
     5,557,713  
     - 
  
    Net loss attributable to non-controlling interest (adjustment for NCI share of add backs to Adjusted EBITDA) 
     (1,586,728) 
     - 
  
    Adjusted EBITDA 
    $(16,009,077) 
    $(11,081,420)

Liquidity
and Capital Resources

Overview

The
financial statements have been prepared on a going-concern basis, which assumes the realization of assets and liquidation of liabilities
in the normal course of business. Continuing operations, as intended, are dependent on management’s ability to raise required funding
through future equity issuances, its ability to acquire business interests and develop profitable operations or a combination thereof,
which is not assured, given today’s volatile and uncertain financial markets. We may revise programs depending on our working capital
position.

Our
approach to managing liquidity risk is to ensure that