Good Gaming, Inc. reported a significant decline in financial performance for the fiscal year ending December 31, 2024, with total revenues of $433, a decrease of 87.72% from $3,443 in 2023. The company attributed this drop primarily to a strategic shift towards developing a new game, "Galactic Acres," and reduced customer engagement with its previous game, "MicroBuddies." In a move to streamline operations, Good Gaming sold all assets related to MicroBuddies, including its Minecraft servers and Roblox assets, which had not generated revenue and were not actively maintained.
Operating expenses for the year were reported at $949,434, a slight decrease from $987,597 in the previous year. The net loss for 2024 was $962,963, compared to a net loss of $864,979 in 2023, marking an increase in losses attributed to a decrease in other income and an impairment charge related to intangible assets. The company's working capital deficit also widened to $885,682 from $122,427 in the prior year, reflecting increased liabilities primarily due to amounts owed to related parties.
In terms of operational developments, Good Gaming's total assets decreased to $91,857 from $484,394 in 2023, largely due to a reduction in cash reserves and the write-off of intangible assets. The company reported a cash balance of $14,499 at year-end, down from $304,225 in 2023. As of March 28, 2025, Good Gaming had 129,119,274 shares of common stock outstanding, held by 102 stockholders of record, and had not declared or paid any cash dividends, opting instead to retain earnings for business expansion.
Looking ahead, Good Gaming plans to focus on establishing partnerships with game developers to pre-install games on mobile devices, leveraging its relationship with ViaOne Services. The company aims to measure the effectiveness of these pre-installations through controlled tests and seeks to attract additional game developers for future collaborations. However, the company faces substantial doubt regarding its ability to continue as a going concern without securing additional capital, as indicated by its auditors. The management's strategy will heavily rely on raising funds through equity sales and potentially increasing its operational capabilities to achieve profitability.
About GOOD GAMING, INC.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.