Company: GMER
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001868
Chunk: 9

Company: GOOD GAMING, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 9
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 the Company
services related to the Company’s human resources, payroll, marketing, advertising, accounting, and financial services for a period
of one year beginning on the Effective Date and automatically renewing for successive terms of one year each unless either party provides
90 days’ notice. ViaOne has the right to convert part or all of the Monthly Management Fee into shares of the Company’s common
stock, par value $0.001 per share at a Conversion Rate equal to 125% of the Conversion Amount, divided by the Conversion Price. The Conversion
Price means, with respect to the Management Fee, 85% of the volume weighted average price (“VWAP”) for the 5 trading days
immediately prior to the date of the notice of conversion.

On
September 30, 2021, the Company and ViaOne entered into a revolving convertible promissory note (the “Revolving Note”). The
Company agrees to pay ViaOne the principal sum of $1,000,000 or such a smaller amount as ViaOne may advance to the Company from time
to time under the Revolving Note, which is subject to a simple interest rate of 8% per annum and will expire earlier on demand or the
third anniversary of the Original Issue Date. The Company granted ViaOne warrants to purchase the 1,000,000 shares of Common Stocks at
an exercise price of $0.42, a premium of 20% to the closing bid price of the Common Stock the trading day prior to the execution of the
Revolving Note. Payment of all obligations under the Revolving Note is secured by a security interest granted to ViaOne by the Company
in all of the right, title and interest of the Company in all assets of the Company currently owned or acquired hereafter. The Revolving
Note (and any unpaid interest or liquidated damages amount) may be converted into shares of Common Stock at a conversion price of eighty-five
percent (85%) of the VWAP for the five (5) trading days immediately prior to the date of the notice of conversion. The Revolving Note
contains customary events of default, including, among others, the failure by the Company to make a payment of principal or interest
when due. Following an event of default, ViaOne is entitled to accelerate the entire indebtedness under the Revolving Note. The restrictions
are also subject to certain additional qualifications and carve-outs, as set forth in the Revolving Note.

On
December 31,