Good Gaming, Inc. (formerly HDS International Corp.) reported significant financial changes in its 10-Q filing for the quarter ending September 30, 2024. The company’s total assets decreased to $125,391 from $484,394 as of December 31, 2023. Current assets also saw a substantial decline, falling to $31,139 from $397,850. In contrast, total current liabilities increased sharply to $917,704, up from $520,277, resulting in a total stockholders’ deficit of $(792,314), a notable drop from $(35,883) at the end of the previous fiscal year.

Revenue for the three months ended September 30, 2024, was reported at $174, a significant increase from $25 in the same period of 2023. Other income rose to $12,253 from $669 year-over-year. However, the company still recorded a net loss of $(178,269) for the quarter, an improvement compared to the $(275,547) loss reported in Q3 2023.

For the nine months ending September 30, 2024, total revenues were $506, down from $3,442 in the same period of 2023. The cost of revenues decreased to $167,702 from $249,695, while general and administrative expenses rose to $223,602 from $125,144. Total operating expenses for the nine-month period were $703,997, slightly lower than $736,936 in the previous year. The net loss for the nine months was $(853,317), an improvement from $(982,741) in 2023.

Cash and cash equivalents at the end of the nine-month period were $8,302, down from $223,277 a year earlier. The net cash used in operating activities improved to $(285,631) from $(714,067) in the prior year.

The company continues to focus on partnerships with telecommunications providers, device manufacturers, and game publishers as part of its strategic direction. Good Gaming reported a working capital deficit of $886,565 and an accumulated deficit of $11,465,156 as of September 30, 2024. The company expressed substantial doubt regarding its ability to continue as a going concern for the next year.

Advertising expenses increased to $114,524 for the nine months ended September 30, 2024, compared to $84,593 in the same period of 2023. The company has not recognized potential benefits from net operating losses due to uncertainty in their future utilization.

About GOOD GAMING, INC.

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