Company: GAME
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023589
Chunk: 156

Company: GameSquare Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 156
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of $84 thousand, and operating expenses of $6.9 million. The pretax net loss of $0.8 million during the three months ended September
30, 2024, includes revenue of $12.5 million, cost of revenue of $12.0 million, and operating expenses of $1.3 million.

Frankly
had amortization and depreciation of $0.1 million and $0.6 million for the nine months ended September 30, 2025 and 2024. Frankly did
not have significant capital expenditures or significant noncash activity during the periods presented outside of the following: In connection
with the discontinued operations of Frankly, the Company recorded a non-cash impairment charge to goodwill and intangible assets of $8.6
million during the three and nine months ended September 30, 2025 (Note 7).

20.
Subsequent events

Share Buyback

On October 1 and 2, 2025, GameSquare repurchased 833,124 shares of its
common stock for $599,148, representing an average price of approximately $0.7192. Following this transaction, the Company has $4.4 million
remaining under its current authorization. Consistent with its capital allocation priorities, GameSquare intends to continue using funds
generated by its treasury strategy to opportunistically repurchase its common stock.

Nasdaq
bid price requirement 

On September 10, 2025, GameSquare received a letter (the “Minimum
Bid Price Notice”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying
GameSquare that for the last 30 consecutive business days, the closing bid price for GameSquare’s common stock (the “Common
Stock”) has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq
Listing Rule 5550(a)(2) (the “Nasdaq Minimum Bid Price Requirement”). The Minimum Bid Price Notice has no immediate effect
on the listing of the Common Stock, and the Common Stock will continue to trade The Nasdaq Capital Market.

In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), GameSquare has been provided an initial compliance period of 180 calendar days, or
until March 9, 2026, to regain compliance with the Nasdaq Minimum Bid Price Requirement, which requires that the closing bid price of
the