Replies to post #73057 on Good Gaming Inc (GMER)

[cbrad10480]

The company knowing the game isn't going to produce significant revenue is why they did the offering also

They wanted to have a cleaner balance sheet going into 2022, so
time became "of the essence" since they launched their game an
entire quarter later than originally planned.

That's my opinion.

cbrad

[Ronin]

This is total "spin" making it sound like CEO did a good think for GMER shareholders.

Dirt bag!!!


Good Gaming, Inc. Restructures Debt into Equity, Eliminating Outstanding Debt and Potential Derivative Liability Losses

7:31 am ET December 16, 2021 (Globe Newswire) Print
Good Gaming, Inc. (OTCQB: GMER) (the "Company") is pleased to announce the restructuring of all current debt held by its parent company ViaOne Services, into equity in the form of preferred shares of Good Gaming Inc.

Good Gaming Inc.'s Board of Directors voted to significantly reduce most of the Company's current and outstanding debt held by ViaOne Services by converting $2,682,337 worth of debt into convertible preferred shares. By converting its debt into preferred shares, the Company will eliminate any immediate dilution to the float and outstanding shares. In addition to removing most debt off its balance sheet, while also satisfying the outstanding convertible notes held by ViaOne Services, the Company expects over $16,508,750 of derivative liabilities, which were shown as a loss on its financial statements as of the end of the third quarter, to be removed off its balance sheet in the fourth quarter of 2021, or as soon as applicable. Combined with the recently closed PIPE (Private Investment in Public Entity) transaction, this strategic move by the Company will give it a much more robust and healthier balance sheet going into 2022.