Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 186

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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 and other non-cash
items, including, but not limited to (i) share based compensation expense, (ii) transaction costs related to merger and acquisition activities,
(iii) arbitration settlement reserves and other non-recurring legal settlement expenses, (iv) restructuring costs, primarily comprised
of employee severance resulting from integration of acquired businesses, (v) impairment of goodwill and intangible assets, (vi) gains
and losses on extinguishment of debt, (vii) change in fair value of assets and liabilities adjusted to fair value on a quarterly basis,
(viii) gains and losses from discontinued operations, and (ix) Net income (loss) attributable to non-controlling interest.

39

Reconciliation
of Non-GAAP Measures

A
reconciliation of Adjusted EBITDA to the most directly comparable measure determined under US GAAP is set out below.

    Three months ended September 30,  
    Nine months ended September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Net loss 
    $(808,443) 
    $(7,464,415) 
    $(11,000,525) 
    $(24,728,504)
  
    Interest expense 
     (166,831) 
     (178,008) 
     (309,733) 
     17,072 
  
    Income tax benefit 
     -  
     -  
     -  
     - 
  
    Amortization and depreciation 
     271,484  
     350,324  
     727,789  
     1,025,004 
  
    Share-based payments 
     1,871,720  
     267,117  
     1,906,334  
     1,288,484 
  
    (Gain) loss on digital assets 
     (8,060,149) 
     -  
     (8,060,149) 
     - 
  
    Transaction costs 
     1,095,258  
     1,287,223  
     2,387,823  
     3,417,687 
  
    Arbitration settlement reserve 
     (45,917) 
     (113,583) 
     (35,283) 
     (252,208)