Company: GMER
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023550
Chunk: 5

Company: GOOD GAMING, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 foreseeable future. As of June 30, 2025, the Company
had a working capital deficit of $1,006,299 and an accumulated deficit of $11,709,084.

The
continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to
raise equity or debt financing, and the attainment of profitable operations from the Company’s future business. These factors raise
substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the issuance of
these financial statements.

These
financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and the classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.

2.
Summary of Significant Accounting Policies

Basis
of Presentation

The
accompanying unaudited financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim
financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of
the information and footnotes required by U.S. generally accepted accounting principles for complete consolidated financial statements.
In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation
have been included.

Use
of Estimates

The
preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The
Company regularly evaluates estimates and assumptions related to the fair values of convertible preferred stock, stock-based compensation,
and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience
and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments
about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources.
The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there
are material differences between the estimates and the actual results, future results of operations will be affected.

    F-5

Cash
Equivalents

The
Company considers all highly liquid instruments with maturities of three months or less at the