Thu, May 16, 10:16 AM (71 days ago)
Good Gaming, Inc. reported a significant decline in quarterly revenue, generating only $183 in Q1 2024 compared to $3,261 in Q1 2023, primarily due to halting Minecraft development. Operating expenses increased by 14.99% to $282,984, driven by higher advertising, promotion, and administrative costs. The net loss slightly improved to $355,165 from $371,150. The company's cash balance decreased to $158,316 from $600,433 YoY, reflecting operational expenses and intangible asset acquisitions. Total assets fell to $332,936, while liabilities rose to $716,217, resulting in a working capital deficit of $492,996. The company focuses on mobile gaming and blockchain integration, launching "Galactic Acres™," and aims to leverage strategic partnerships for player acquisition. The financial outlook remains uncertain, with a going concern warning due to minimal revenue and reliance on external financing.