[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_99":100},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":-5,"_23":24,"_25":26,"_27":28,"_29":30,"_31":30,"_32":33,"_34":35,"_36":37,"_38":39,"_40":41,"_42":43,"_44":45,"_46":-5,"_47":48,"_49":-5,"_50":-5,"_51":52,"_53":54,"_55":56,"_57":41,"_58":41,"_59":60,"_61":41,"_62":63},"id","zmbokcgyj2tzrzn6yyn8yii46","revision",2,"title","Mobile Global Esports 公布2026年半年财报，净亏损扩大至130万美元","originalTitle","Mobile Global Esports, Inc. (0001886362) (Filer)","summary","Mobile Global Esports 公布2026年半年财报，净亏损扩大至130万美元，较2025年同期增长56%。公司现金余额从57.3万美元降至2万美元，需额外融资以维持运营。公司已停止印度子公司运营，SG&A费用增至138.9万美元。","reason","source",{"_12":90,"_91":92,"_9":93,"_94":41,"_95":96,"_97":98},"links",{"_87":88,"_77":89},"publishedAt","2026-10-14T16:50:07.000Z","discoveredAt","2026-10-14T17:14:51.291Z","timelineAt","category","ai-products","tags",[82,83,84,85,86],"stockSymbols",[],"score",35,"selected",true,"channel","news","story",{"_72":73,"_16":74},"x","readingMode","full","author","language","body",{"_63":76,"_77":-5,"_78":79,"_80":81},"outline",[],"relatedStories",[75],"indexable","markdownAvailable","group",{"_64":65,"_44":66,"_67":68,"_69":70,"_71":70},"hasTranslation","bodyLanguage","zh","factId","fxV7jFAF6e4s",{"_72":73,"_16":74},"reportCount",1,"additionalSourceCount",0,"developmentCount","publicId","accb9ee2-1edf-4603-a47b-84e6f4872c9a","Mobile Global Esports 半年报披露亏损扩大",{"_72":73,"_16":74},"

美国

证券交易委员会

华盛顿特区 20549

10-Q 表

(选择一个)

☒ 根据《1934 年证券交易法》第 13 或 15(d) 条的季度报告

截至 2026 年 6 月 30 日的财季

或

☐ 根据《1934 年证券交易法》第 13 或 15(d) 条的过渡报告

从至

证监会文件编号：001-41458

MOBILE GLOBAL ESPORTS INC.

(注册人章程中规定的准确名称)

\n\n\n

特拉华州		86-2684455
(州或其他司法管辖区的成立或组织)		(联邦税务局雇主识别号码)

\n\n\n

500 Post Road East, 2nd Floor Westport, Connecticut		06880
(主要执行办公室地址)		(邮政编码)

注册人的电话号码，包括区号： (312) 241-2550

N/A

(如自上次报告以来名称、地址或财年有所更改，请提供原名称、原地址和原财年)

根据《法案》第 12(b) 条注册的证券：

\n\n\n\n\n

每类证券的名称		交易符号		每类证券注册的交易所名称
每股面值 0.0001 美元的普通股		MGAM		场外交易粉单

通过勾选方框表明注册人（1）是否已提交了根据《1934 年证券交易法》第 13 或 15(d) 条在前 12 个月（或注册人需要提交此类报告的较短期间）内应提交的所有报告，以及（2）是否在过去 90 天内受到此类提交要求的约束。是 ☒ 否 ☐

通过勾选方框表明注册人是否已通过电子方式提交了根据规章 S-T 第 405 条（本章第 232.405 条）在前 12 个月（或注册人需要提交此类文件的较短期间）内应提交的每个交互式数据文件。是 ☒ 否 ☐

通过勾选方框表明注册人是大型加速申报者、加速申报者、非加速申报者、较小报告公司或新兴成长公司。请参见《交易所法》第 12b-2 条中对“大型加速申报者”、“加速申报者”、“较小报告公司”和“新兴成长公司”的定义。

大型加速申报者 ☐	加速申报者 ☐	非加速申报者 ☒	较小报告公司 ☒
			新兴成长公司 ☒

如果是新兴成长公司，请通过勾选方框表明注册人是否已选择不使用根据《交易所法》第 13(a) 条提供的任何新修订的财务会计标准的延长过渡期 ☒

通过勾选方框表明注册人是否为壳公司（根据《法案》第 12b-2 条的定义）。是 ☐ 否 ☒

截至 2026 年 10 月 14 日，注册人普通股的流通股为 183,819,535 股。

MOBILE GLOBAL ESPORTS INC.

		页码
第一部分。财务信息

第 1 项。	简要财务报表（未经审计）		1
	截至2026年6月30日和2025年12月31日的合并资产负债表		1
	截至2026年6月30日和2025年6月30日的三个月和六个月的合并损益表		2
	截至2026年6月30日和2025年6月30日的三个月和六个月的股东权益变动表		3
	截至2026年6月30日和2025年6月30日的六个月合并现金流量表		4

项目2。	管理层讨论与分析财务状况和经营成果		20

项目3。	关于市场风险的定量和定性披露		24

项目4。	控制和程序		24

第二部分。其他信息

项目1。	法律诉讼		25

项目1A。	风险因素		25

项目2。	未注册的股权证券销售和资金使用		26

项目3。	高级证券违约		26

项目4。	矿井安全披露		27

项目5。	其他信息		27

项目6。	附录		27

	签名		28

SMRH:4912-0131-9128.1

-i-

关于前瞻性声明的警示说明

本季度报告10-Q包含前瞻性声明。本季度报告中除历史事实陈述以外的所有陈述可能均为前瞻性声明。前瞻性声明主要包含在题为“风险因素”和“管理层讨论与分析财务状况和经营成果”的部分中，但也包含在本季度报告的其他部分中。在某些情况下，您可以通过诸如“可能”、“或许”、“将”、“应该”、“预期”、“计划”、“预期”、“可能”、“会”、“打算”、“目标”、“计划”、“考虑”、“相信”、“估计”、“预测”、“潜在”或“继续”或这些术语的否定形式或其他类似表达来识别前瞻性声明。前瞻性声明涉及已知和未知的风险、不确定性和其他重要因素，可能导致我们的实际结果、表现或成就与前瞻性声明中明示或暗示的任何未来结果、表现或成就有重大差异。前瞻性声明包括但不限于以下声明：

●

我们移动电子竞技产品和服务未来市场接受度的失败；

●

竞争程度的增加；

●

一般政治、经济或监管状况以及我们运营市场的变化；

●

我们留住和吸引高级管理人员和其他关键员工的能力；

●

我们保护商业秘密或其他专有权利的能力，以及在不侵犯他人专有权利的情况下运营并防止他人侵犯公司专有权利；以及

●

其他风险，包括在“风险因素”部分中描述的风险。

您应仔细审阅和考虑有关可能对我们的业务、财务状况或未来结果产生重大影响的因素的信息，这些信息列示在我们的年度报告10-K表第I部分第1A项下的标题“风险因素”下。自此前披露的风险因素以来，除在本季度报告10-Q的“风险因素”部分中所述外，没有发生重大变化，该部分讨论了可能使我们的实际结果与我们前瞻性声明中表达或暗示的内容有重大差异的重要因素。本季度报告中的前瞻性声明仅为预测，我们可能无法实现前瞻性声明中包含的计划、意图或期望。我们主要基于当前对未来事件和财务趋势的预期和预测来制定这些前瞻性声明，我们认为这些趋势可能会影响我们的业务、财务状况和运营结果。由于前瞻性声明本质上受风险和不确定性的制约，其中一些风险和不确定性无法预测或量化，因此您不应将这些前瞻性声明视为对未来事件的预测。我们前瞻性声明中反映的事件和情况可能无法实现或发生，实际结果可能与前瞻性声明中预测的结果有重大差异。

这些前瞻性声明仅反映本季度报告的日期。尽管我们可能在将来选择更新这些前瞻性声明，但目前我们没有这样做，除非适用法律要求。因此，您不应将这些前瞻性声明视为反映本季度报告10-Q发布日期之后我们的观点。

SMRH:4912-0131-9128.1

-ii-

第一部分：财务信息

第1项：简要财务报表

移动全球电子竞技公司

简要资产负债表

截至2026年6月30日和2025年12月31日

		2026年6月30日			2025年12月 31日
		2026			2025
	注释	(未经审计)			(经审计)

资产
流动资产：
现金	2	$	19,936			$	573,305
预付费用和其他流动资产			19,309				11,275
递延发行费用	2, 12		67,507				50,000
流动资产合计			106,752				634,580
资本化软件，净额	4		869,635				1,019,362

总资产		$	976,387			$	1,653,942


负债
流动负债：
应付账款和应计费用	8		281,696				173,887
递延收入	2		57,974				-
可转换票据应付款	7		513,731				779,960
应付票据，净额	6		184,439				114,951
短期团队奖金支付	2		1,845				1,845
其他流动负债	3, 7		1,050				751,640
流动负债合计			1,040,735				1,822,283

应付票据，扣除流动部分			8,147				-
长期团队奖金支付			9,795				9,795
总负债			1,058,677				1,832,078


承诺和或有事项	12

股东权益赤字	10, 11
优先股；面值0.0001美元；授权10,000,000股；零股已发行和流通			-				-
普通股，面值0.0001美元，授权发行3亿股和1亿股，已发行和流通1.3206762亿股和54440074股			13,207				5,444
额外 paid-in 资本			14,108,335				12,744,970
累计亏损			(14,203,832	)			(12,903,470	)
累计其他综合损失			-				(8,621	)

股东权益赤字 - Mobile Global Esports Inc.			(82,290	)			(161,677	)
非控制性权益			-				(16,459	)
股东权益赤字			(82,290	)			(178,136	)
总负债和股东权益赤字		$	976,387			$	1,653,942

附注是这些未经审计财务报表的组成部分。

SMRH:4912-0131-9128.1

-1-

MOBILE GLOBAL ESPORTS INC.

简明利润表和综合损失（未经审计）

截至2026年6月30日的三个月和六个月以及2025年6月30日的三个月和六个月

		六个月			六个月			三个月		三个月
		结束于			结束于			结束于		结束于
	注释	2026年6月30日（未经审计）			2025年6月30日（未经审计）			2026年6月30日（未经审计）		2025年6月30日（未经审计）

收入	2	$	21,877			$	-		$	15,557		$	-

销售成本	2		207,005				-			103,537			-

毛损失			(185,128	)			-			(87,980	)		-

运营费用：
销售、一般及行政费用	13		1,388,947				772,594			760,508			380,043
总运营费用			1,388,947				772,594			760,508			380,043

运营损失			(1,574,075	)			(772,594	)		(848,488	)		(380,043	)

利息收入			-				27			-			6
利息支出	6		(19,394	)			(1,826	)		(9,470	)		(1,826	)
MOGO Pvt Ltd 解散损失	1		(8,621	)			-			-			-
其他收入	2		137,840				-			-			-
可转换应付票据公允价值变动	7		163,888				-			331,947			-
持续经营前的运营损失			(1,300,362	)			(774,393	)		(526,011	)		(381,863	)
所得税			-				-			-			-

持续经营损失			(1,300,362	)			(774,393	)		(526,011	)		(381,863	)

终止经营（注释15）

终止的MOGO Pvt Ltd 运营损失	15		-				(71,367	)		-			(67,335	)
作为待售分类的收益	15		-				12,866			-			-
所得税收益			-				-			-			-
终止经营损失			-				(58,501	)		-			(67,335	)
净损失		$	(1,300,362	)		$	(832,894	)	$	(526,011	)	$	(449,198	)

非控制性权益的终止经营净收益		$	-			$	(703	)	$	-		$	(809	)
归属于Mobile Global Esports Inc.的净损失		$	(1,300,362	)		$	(832,191	)	$	(526,011	)	$	(448,389	)
归属于普通股东的基本和摊薄每股持续经营损失		$	(0.02	)		$	(0.02	)	$	(0.01	)	$	(0.01	)

归属于普通股东的基本和摊薄每股终止经营损失		$	(0.00	)		$	(0.00	)	$	(0.00	)	$	(0.00	)

归属于普通股东的基本和摊薄每股净损失		$	(0.02	)		$	(0.02	)	$	(0.01	)	$	(0.01	)

加权平均普通股发行在外数量，基本和摊薄			73,074,094				41,793,575			85,208,270			45,459,085

综合损失：
净损失			(1,300,362	)			(832,894	)		(526,011	)		(449,198	)
外币兑换未实现损失			-				(441	)		-			(803	)

总综合损失		$	(1,300,362	)		$	(833,335	)	$	(526,011	)	$	(450,001	)
归属于非控制性权益的综合收益			-				(703	)		-			(809	)
Mobile Global Esports Inc.的综合损失			(1,300,362	)			(832,632	)		(526,011	)		(449,192	)

附注是这些未经审计财务报表的组成部分。

SMRH:4912-0131-9128.1

-2-

MOBILE GLOBAL ESPORTS INC.

简明股东权益表（未经审计）

截至2026年6月30日的三个月和六个月以及2025年6月30日的三个月和六个月

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

										累计						总计
						额外				其他						股东的
	普通股		实收资本			累计		综合		非控制性			权益
	股数		金额			资本		亏损		收益（损失）			利息			（亏损）

2024年12月31日余额		27,936,503		$	2,793		$	11,660,365		$	(10,642,727	)		$	(6,322	)	$	(14,868	)	$	999,241

以服务换取普通股发行		16,225,000			1,623			114,427			-				-			-			116,050

其他综合收益		-			-			-			-				362			-			362

净损失		-			-			-			(383,802	)			-			106			(383,696	)

2025年3月31日余额		44,161,503		$	4,416		$	11,774,792		$	(11,026,529	)		$	(5,960	)	$	(14,762	)	$	731,957

以服务换取普通股发行		1,500,000			150			80,350			-				-			-			80,500

附带认股权证的普通股发行		420,000			42			104,958			-				-			-			105,000

以应付票据换取普通股发行		460,000			46			29,214			-				-			-			29,260

其他综合损失		-			-			-			-				(803	)		-			(803	)

净损失		-			-			-			(448,389	)			-			(809	)		(449,198	)

2025年6月30日余额		46,541,503		$	4,654		$	11,989,314		$	(11,474,918	)		$	(6,763	)	$	(15,571	)	$	496,716

2025年12月31日余额		54,440,074		$	5,444		$	12,744,970		$	(12,903,470	)		$	(8,621	)	$	(16,459	)	$	(178,136	)

以结算其他流动负债换取普通股发行		6,600,000			660			613,140			-				-			-			613,800

以服务换取普通股发行		1,213,268			122			117,708			-				-			-			117,830

可转换债券转换为普通股		2,103,049			210			42,309			-				-			-			42,519

以可转换应付票据换取普通股		100,000			10			10,490			-				-			-			10,500

股权激励费用		-			-			164,800			-				-			-			164,800

非控制性权益和累计其他综合损失的重新分类		-			-			(16,459	)		-				8,621			16,459			8,621

净损失		-			-			-			(774,351	)			-			-			(774,351	)

2026年3月31日余额		64,456,391		$	6,446		$	13,676,958		$	(13,677,821	)		$	-		$	-		$	5,583

以服务换取普通股发行		11,437,120			1,144			37,732			-				-			-			38,876

可转换债券转换为普通股		53,674,109			5,367			115,955			-				-			-			121,322

净发行普通股（扣除发行成本1500美元）		2,500,000			250			23,250			-				-			-			23,500

股权激励费用		-			-			254,440			-				-			-			254,440

净损失		-			-			-			(526,011	)			-			-			(526,011	)

2026年6月30日余额		132,067,620		$	13,207		$	14,108,335		$	(14,203,832	)		$	-		$	-		$	(82,290	)

随附的脚注是这些未经审计财务报表的组成部分。

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简明现金流量表（未经审计）

截至2026年6月30日和2025年的六个月

	六个月结束于
	June 30, 2026 (unaudited)			June 30, 2025 (unaudited)

经营活动产生的现金流量
净亏损	$	(1,300,362	)		$	(832,894	)
将净亏损调节为经营活动使用的净现金的调整项目：
因服务发行的普通股		156,706				196,550
折旧和摊销		180,977				-
基于股份的薪酬费用		419,240				-
其他流动负债公允价值变动		(137,840	)			-
可转换应付票据公允价值变动		(163,888	)			-
重分类至收益的外币折算调整		8,621				-
债务折价的摊销		14,355				1,826
经营资产和负债的变动：
预付费用和其他流动资产		(8,034	)			35,994
其他资产		-				15,516
递延收入		57,974				-
应付账款和应计费用		91,369				70,388

经营活动使用的净现金		(680,882	)			(512,620	)

投资活动产生的现金流量
预付给供应商的软件款项		-				(40,000	)
资本化软件的付款		(26,750	)			-

投资活动使用的净现金		(26,750	)			(40,000	)

筹资活动产生的现金流量
普通股发行		23,500				-
附带认股权证的普通股发行		-				105,000
应付票据发行		21,000				115,000
偿还应付票据		(637	)			-
附带普通股的应付票据发行		40,000				-
附带普通股的可转换应付票据发行		25,000				-
可转换应付票据发行		117,000				-
偿还可转换应付票据		(70,000	)			-
支付递延发行费用		(1,600	)			-

经营活动提供的净现金		154,263				220,000

汇率变动对现金的影响		-				(523	)

现金净减少额		(553,369	)			(333,143	)

年初现金余额		573,305				928,619

年末现金余额	$	19,936			$	595,476

现金流量补充披露
支付的利息	$	1,063			$	-

非现金投资和融资活动的补充披露
资本化软件应付金额	$	4,500			$	-

可转换应付票据转换为权益	$	163,841			$	-

其他流动负债通过发行普通股结清	$	613,800			$	-

递延发行费用	$	15,907			$	-

随应付票据发行的认股权证	$	-			$	29,260

附注是这些未审计财务报表的不可分割的组成部分。

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财务报表附注

截至2026年及2025年6月30日止三个月及六个月（未审计）

附注1 – 组织与列报基础

组织架构

Mobile Global Esports Inc. (“MOGO Inc” or “MGAM”) 于 2021 年 3 月 11 日根据特拉华州法律成立。该公司最初名为 Elite Esports, Inc.，并于 2021 年 4 月 21 日更名为 Mobile Global Esports Inc.。2022 年 7 月，MOGO Esports Private Limited (“MOGO Pvt Ltd”) 在印度成立并注册。2025 年 6 月，MOGO Pvt LTD 被认定无价值并从 MOGO Inc. 的记录中移除；参见注 15。此外，2025 年 6 月，MGAM 宣布其旗舰产品 Dominus Sports 的 beta 版本上线，该产品与 MGAM 的专有人工智能平台 PUHZL 集成。Dominus Baseball 是 MGAM 开发的第一个产品。Dominus 通过使用 MGAM 的专有算法将实时体育数据转化为完整的 9 局比分，从而引入了逼真的模拟游戏玩法。该平台支持协作的、基于角色的团队所有权，允许用户组作为所有者、球探、协调员和总经理在一个动态、战略的环境中管理团队。PUHZL 使用确定性建模和预测建模的组合来推动应用内转化，提供个性化建议、自适应聊天体验和随着每个用户行为演变的智能警报。2025 年 11 月，MGAM 收购了 Reality Sports Online, Inc. (“RSO” or “Seller”)，这是一款围绕现实世界合同谈判、薪资帽管理和多赛季特许经营权控制构建的顶级王朝式橄榄球幻想体育平台。此次收购将 RSO 的长期团队管理经验与 Dominus Baseball 的实时预测游戏玩法相结合，创造了一个完全集成的幻想体育生态系统，连接了即时竞技和战略所有权。

列报基础

附带的财务报表是按照美国公认会计原则（“U.S. GAAP”）编制的。财务报表包括 MOGO Inc 及其多数控股子公司 MOGO Pvt Ltd（统称“Company”）的账户。MOGO Inc 拥有 MOGO Pvt Ltd 99% 的控制性权益（“Dissolved Entity”）。MOGO Pvt Ltd 的非控制性权益价值不重大。为了战略性地专注于其旗舰产品 Dominus Sports，公司决定停止 MOGO Pvt Ltd 的运营；参见注 15。在截至 2026 年 3 月 31 日的三个月内，公司根据 ASC Topic 810, Consolidation. 完成了 MOGO Pvt Ltd 的解散和清算。在解散时，Dissolved Entity 未持有任何资产，也未有任何未偿债务。因此，该子公司被终止确认，非控制性权益的账面金额重新分类至母公司的额外实收资本。此外，根据财务会计准则委员会（“FASB”）会计准则汇编（“ASC”）Topic 830, Foreign Currency Matters，累计折算调整从累计其他综合收益重新分类至收益。此次解散对公司财务报表没有重大影响。

MOGO Pvt Ltd 的功能货币是印度卢比（“INR”）。MOGO Pvt Ltd 的资产和负债按期末汇率折算为美元（“USD”），而经营账户按该期间的平均汇率折算。外汇折算调整的影响计入其他综合损失，这是股东权益亏空中累计其他综合损失的一个组成部分。所有重要的关联方账户和交易在合并报表中均已抵销。

中期财务报表

未经审计的简明财务报表由公司根据证券交易委员会（“SEC”）的规则和法规编制。此处提供的信息反映了所有调整，仅包括正常 recurring 调整，管理层认为这些调整对于公允列报公司的财务状况、经营成果以及所列报期间的现金流是必要的。根据此类规则和法规，通常在按照美国公认会计原则编制的年度财务报表中出现的某些信息和附注披露被省略了。截至2026年6月30日的三个月和六个月的经营成果并不一定预示着截至2026年12月31日的年度预期成果。

流动性与持续经营能力

公司的运营受某些风险和不确定性影响，包括但不限于公司对额外融资的需求、吸引公司产品用户的能力、来自其他公司的竞争以及对管理团队关键成员的依赖。

随附的财务报表是按照假设公司将继续作为持续经营主体编制的，这设想了在正常经营过程中实现资产和清偿负债及承诺。公司拥有有限的经营历史，迄今为止已产生经营亏损，并预计在可预见的未来将继续产生经营亏损。此外，公司已关闭其在印度的运营活动，并推出了一种不同的商业模式，这可能对公司的战略方向实现能力产生负面影响。此外，公司可能无法在未来一年内产生重大收入，或产生足够的现金流以维持其运营。公司管理层正与其他顾问及其董事会合作以运营公司。管理层认为，目前的团队拥有实现其目标所需的必要经验。

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财务报表附注

截至2026年和2025年6月30日的三个月及六个月（未经审计）

附注1 – 组织与列报基础（续）

截至 2026 年 6 月 30 日，该公司拥有约 $20,000 的现金和约 $14,204,000 的累计亏损。管理层认为，该公司需要筹集额外资金，以在财务报表出具之日起的 12 个月内继续运营。该公司未能筹集额外资金并实现其业务目标，可能会对其经营成果产生重大不利影响。这些情况以及其他因素，使人们对该公司持续经营的能力产生了重大怀疑。随附的财务报表不包括任何在该公司无法持续经营时可能需要的调整。

附注 2 – 重要会计政策摘要

会计估计的使用

按照美国通用会计准则编制财务报表，要求管理层做出影响资产和负债报告金额以及财务报表日或有资产和负债披露，以及报告期内收入和费用报告金额的估计和假设。该公司定期评估估计和假设。该公司基于当前事实、历史经验以及其认为在特定情况下合理的各种其他因素，做出其估计和假设，其结果构成了判断资产和负债账面价值以及从其他来源不易察觉的成本和费用应计的基础。该公司实际经历的结果可能与该公司的估计存在重大且不利差异。就估计与实际结果之间存在重大差异而言，未来的经营成果将受到影响。随附财务报表中的重要估计包括递延税资产的估值准备，以及为服务、可转换债务和其他流动负债发行的认股权证的估计公允价值。

现金及现金等价物

为了编制现金流量表，现金等价物包括定期存款、存款证、托管账户中持有的金额以及原始期限为三个月或更短的任何高流动性债务工具。截至 2026 年 6 月 30 日和 2025 年 12 月 31 日，该公司没有现金等价物。截至 2026 年 6 月 30 日和 2025 年 12 月 31 日，该公司分别拥有约 $20,000 和 $573,000 的现金。

递延发行费用

根据 ASC 主题 340其他资产和递延费用，该公司将与其拟发行的股权或债务证券相关的某些法律、会计、承销、印刷及其他直接和增量成本资本化为递延发行费用。递延发行费用在相关发行完成前记录为资产。在股权发行完成后，递延发行费用从发行的总收益中扣除，并记录为额外实收资本的减少。如果计划中的发行被放弃或被显著推迟，以至于完成发行不再可能，递延发行费用在发生时费用化。无法直接归属于特定且可能发行的递延发行费用在发生时费用化。

Capitalized Software

公司根据 ASC 350-40，Intangibles-Goodwill and Other-Internal-Use Software 中的指导原则对内部使用软件进行资本化。公司在初步项目阶段将费用化，并将应用开发阶段发生的成本资本化，直至软件基本完成并准备好投入使用。一旦内部使用软件准备好投入使用，与培训和常规维护相关的成本将按发生时费用化。只要这些支出很可能带来额外功能，公司就会对软件的重大增强和升级进行资本化。

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NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 2 – Summary of Significant Accounting Policies (continued)

Long-Lived Assets

公司持续对长期资产的可实现性进行复核。折旧和摊销的变化，通常采用加速折旧和可变摊销，是在长期资产剩余使用寿命或残值的估计发生变化时确定并记录的。当存在表明资产账面金额可能无法完全收回的条件时，公司也会进行减值测试。在这些情况下，公司进行未折现的经营现金流分析以确定是否存在减值。在进行资产减值测试时，公司按现金流量可单独识别的最低层级对资产和负债进行分组。任何减值损失均计算为资产账面价值超过其估计公允价值的差额。公允价值是根据资产组剩余使用寿命的折现现金流估计，或根据资产减去处置成本后的预期现金流入估计。任何减值损失都将记录在经营业绩和综合损失表中。在截至 2026 年和 2025 年 6 月 30 日的三个月和六个月期间，未记录减值损失。

Fair Value of Financial Instruments

公司被要求披露所有按公允价值报告的资产和负债的信息，以便评估确定报告公允价值所使用的投入。ASC Topic 820，Fair Value Measurements and Disclosures（“ASC 820”）建立了可用的投入层级。公允价值是指资产在计量日的有序交易中，在资产或负债的主要或最有利市场上，为资产或负债所收到的交换价格，或为转移负债而支付的退出价格。用于计量公允价值的估值技术必须最大限度地使用可观察到的投入，并最大限度地减少使用不可观察到的投入。

公允价值层级将用于计量公允价值的投入按以下方式分为三个层级：

●

Level 1 – Inputs are based on quoted prices in active markets for identical assets or liabilities.

●

Level 2 – 输入基于除 Level 1 价格以外的可观察输入，例如类似资产或负债的报价价格、成交量不足或交易不频繁的市场中的报价价格，或模型衍生估值，其中所有重大输入均为可观察的，或主要可从相关资产或负债绝大部分期限的可观察市场数据中推导或得到佐证的。

●

Level 3 – 输入基于对资产或负债公允价值计量具有重大意义的估值方法中的不可观察输入，通常反映市场参与者用于对资产或负债进行定价的估计或假设。

Convertible Notes Payable

Fair Value Option (“FVO”) Election. 公司选择按照 ASC Topic 825, Financial Instruments (“ASC 825”) 下关于公允价值选择权的选举，对如 Note 7 中所述的可转换票据进行会计处理，如下所述。做出该选举是为了通过避免将嵌入的转换特征单独作为衍生工具进行核算，或根据 ASC 470-20, Debt with Conversion and Other Options 将工具拆分为债务和权益组成部分，从而简化对该工具的会计处理。根据 FVO 选举核算的可转换票据是债务主金融工具。ASC 825 规定了“公允价值选择权”选举，适用于范围内的金融工具，其中无需对嵌入衍生工具进行拆分，并且该金融工具在发行日按公允价值初始计量，随后在每个报告期日按公允价值进行后续重新计量。根据 ASC 825 要求的公允价值调整，就归属于工具特定信用风险变化的那部分公允价值调整，确认为其他综合收益（“OCI”）的一部分，而公允价值调整的剩余金额则在随附的经营及综合损失表中确认为非经营收入或费用。关于 Note 7 中描述的票据，根据 ASC 825 的规定，估计的公允价值调整在随附的经营及综合损失表中列报，因为可转换应付票据的公允价值变化不归属于工具特定信用风险。

Other Current Liabilities

公司根据 ASC Topic 480，《区分负债与权益》（“ASC 480”）的指引评估未来拟发行的权益股份。对于公司没有足够法定授权股份可发行的未来拟发行权益股份，这些股份被记录为一项负债，并在每个报告期进行重新计量，直到发行股份的义务满足权益分类，此时负债被重新分类为权益。2025 年，公司因 RSO 的资产收购（见注 3）产生了发行 5,300,000 股限制性普通股的义务，并因可转换桥接票据（见注 7）产生了另外 1,300,000 股限制性普通股的义务。这些发行股份的义务于 2026 年 1 月满足权益分类，此时公司将负债重新分类为权益，并通过收益确认公允价值的任何变动。

在截至 2026 年 6 月 30 日的三个月内，公司因 2026 年 5 月发行的应付票据（见注 6）产生了发行 750,000 股限制性普通股的义务。由于截至 2026 年 6 月 30 日，公司没有足够的法定授权股份来发行这些限制性普通股，公司在收到票据持有人的本金余额时记录了一项负债，并于 2026 年 6 月 30 日重新计量了这项负债。

SMRH:4912-0131-9128.1

-7-

MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至 2026 年和 2025 年 6 月 30 日止的三个月和六个月（未经审计）

注 2 – 重要会计政策摘要（续）

信用风险集中度

潜在使公司面临信用风险集中的金融工具包括现金。公司将现金存放在高质量的金融机构，有时可能超过联邦存款保险公司 250,000 美元的保险限额。公司没有也预计不会因这种信用风险而产生任何损失。

收入

公司根据 ASC Topic 606，《来自客户的合同收入》（“ASC 606”）记录收入。ASC 606 的核心原则是，公司应确认收入，以反映向客户转让承诺的商品或服务的对价，该对价金额应反映公司因转让这些商品或服务而预期有权获得的对价。应用以下五个步骤来实现这一核心原则：

	●	步骤 1：识别与客户的合同

	●	步骤 2：识别合同中的履约义务

	●	步骤 3：确定交易价格

	●	步骤 4：将交易价格分摊至合同中的履约义务

	●	步骤 5：当公司满足履约义务时确认收入

为了识别与客户的合同中的履约义务，公司评估合同中承诺的商品或服务，并识别每一项独特的承诺商品或服务。

如果商品或服务不是独特的，则将该商品或服务与其他承诺的商品或服务合并，直到识别出一组独特的商品或服务。

交易价格是指实体预期因向客户转让承诺的商品或服务而应收取的对价金额。与客户合同中承诺的对价可能包括固定金额、可变金额或两者兼有。

只有在可变对价相关的后续不确定性得到解决时，可变对价才被包含在交易价格中，且包含的程度以不会发生累计已确认收入金额的重大转回为限。公司会评估任何非现金对价、应付给客户的对价、潜在退货和退款，以及在确定交易价格时对价是否包含重大融资成分。

收入根据与客户合同中约定的对价进行计量。当公司通过向客户转让服务的控制权来履行履约义务时，确认收入。

Dominus Sports： 2025年，公司利用其 Dominus Sports 产品建立了一个梦幻棒球测试联赛，为客户提供创建并拥有球队的机会，拥有三种不同的分层定价选项。支付的拥有费用使客户在五年期间拥有所有权；这些拥有费用记录为负债，并在五年拥有期内作为奖金支付（“Team Prize Payout”）。客户还可以购买额外的微交易，为其球队提供各种额外的权利或改进。微交易通常在计费时确认为收入。

RSO：2025年，公司收购了 RSO，这是一个围绕现实世界合同谈判、薪资帽管理和多赛季特许经营权控制构建的顶级王朝风格足球梦幻体育平台。公司通过向客户提供访问其 RSO 平台技术的权限来赚取订阅和支持收入，客户借此能够管理一支足球梦幻球队。订阅和支持收入主要包括从访问公司 RSO 平台（“RSO Platform Services”）的客户处收取的订阅费。

订阅和支持收入包括在安排期限内提供客户访问 RSO 平台服务及相关支持和更新的费用。RSO 平台服务允许客户在不取得软件所有权的情况下使用公司的软件。收入通常在合同期内按比例确认。公司绝大部分的订阅服务安排都是不可撤销的，且不包含退款类型的条款。

公司通常每年向客户开具发票，付款条款规定客户需在发票开具后30天内付款。已开具发票的金额根据是否已向客户转移控制权，记录在应收账款或递延收入或收入中。

SMRH:4912-0131-9128.1

-8-

MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至2026年及2025年6月30日止三个月及六个月（未经审计）

附注2 – 重要会计政策摘要（续）

截至2026年6月30日的三个月和六个月，RSO Platform Services 和 Dominus Sports 的收入分别约为 16,000 美元和 22,000 美元。截至2025年6月30日的三个月和六个月，公司分别从其赞助的某些电子竞技比赛的奖金中获得了约 nil 美元和 1,600 美元的收入（包含在已终止经营项目中；参见附注 15）。

收入成本

收入成本主要由直接归属于向客户提供公司梦幻联赛平台（包括 Dominus Sports 和 RSO Platform Services）访问权的成本构成，包括托管和云基础设施成本、第三方数据和内容费用、支付处理费用、平台相关的客户支持成本以及与平台相关的资本化软件成本的摊销。为销售和营销以及一般和管理活动发生的成本不包括在收入成本中，并在发生时予以费用化。

基于股票的薪酬

公司根据授予日期（通常是授予日）的公允价值在经营业绩表中确认股票期权的薪酬。与授予相关的费用在每个奖励的服务期内按直线法确认。公司确认已放弃的股份，并在发生时进行确认。

所得税

公司按照 ASC Topic 740，Income Taxes（“ASC 740”）核算所得税。ASC 740 要求公司使用资产和负债法核算所得税，即对可抵扣暂时性差异确认递延所得税资产，对应纳税暂时性差异确认递延所得税负债。暂时性差异是指资产和负债的账面金额与其计税基础之间的差异。当管理层认为递延所得税资产的一部分或全部很可能无法实现时，递延所得税资产会减记估值准备。递延所得税资产和负债会根据法律和税率变更生效日的影响进行调整。

根据 ASC 740，只有当税务立场在税务检查中被维持的可能性“很可能”时，才将其确认为一项利益，税务检查被假定为会发生。确认的金额是在检查中更有可能实现且超过 50% 可能性的最大税收利益金额。对于未通过“很可能”测试的税务立场，不记录任何税收利益。对于所列报的任何报告期，公司均无重要的不确定税务立场。

基本和稀释每股收益

每股收益按照 ASC Topic 260，Earnings Per Share（“ASC 260”）计算。基本每股收益（“EPS”）基于流通在外普通股的加权平均数量。稀释的 EPS 假设所有具有稀释性的证券均已转换。稀释程度通过应用库藏股法计算。根据此方法，期权和认股权证被假设在期初（或较晚的发行时间）行使，并假设由此获得的资金在期间内按平均市场价格购买普通股。

分部

该公司有一个报告分部，即幻想体育的开发。截至2026年6月30日和2025年12月31日，公司总资产的100%位于美国。

近期会计公告

2023年，财务会计准则委员会（“FASB”）发布了会计准则更新（“ASU”）第2023-09号，所得税。ASU第2023-09号修订了所得税披露内容，以提供信息，以便更好地评估实体的运营及其相关的税务风险和税务筹划及运营机会如何影响其税率及未来现金流前景。新准则要求实体在税率调节表中披露特定类别，并为满足定量阈值的调节项目提供额外信息。ASU 2023-09自2024年12月15日之后的年度期间起生效。该公司在截至2025年12月31日的年度采用了ASU 2023-09，并追溯应用了新的披露要求。

SMRH:4912-0131-9128.1

-9-

MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至2026年及2025年6月30日止三个月及六个月（未审计）

附注2 – 重要会计政策摘要（续）

2024年11月，FASB发布了ASU 2024-03，利润表——综合收益列报——费用分拆披露（主题220-40）：利润表费用分拆（“ASU 2024-03”）。该准则要求上市公司在财务报表附注中披露每个中期和年度报告期间关于某些成本和费用的指定信息。该准则适用于自2026年12月15日之后的年度报告期间开始，以及自2027年12月15日之后开始的中期报告期间。该公司预计将在其2027年1月1日开始财年中采用该准则。该公司正在评估该准则对其财务报表披露的潜在影响。

2025年9月，FASB发布了ASU 2025-06，无形资产——商誉和其他——内部使用软件（主题350-40）：内部使用软件会计核算的针对性改进（“ASU 2025-06”）。新准则取消了此前按项目阶段跟踪软件开发成本的要求，转而要求在（1）管理层批准并承诺为项目提供资金，且（2）项目很可能完成且软件将按预期使用时，对符合条件的成本进行资本化。该准则还引入了重大开发不确定性的概念，在成本可以资本化之前必须解决该概念。该ASU自2027年12月15日之后的年度报告期间（包括这些财政年度内的中期期间）起生效。该公司正在评估该准则对其财务报表的潜在影响。

附注3 – 收购

2025年10月，该公司与Reality Sports Online, Inc.签署了一项资产购买协议（“APA”）。根据APA，卖方同意出售，公司同意购买与卖方业务相关的技术平台、知识产权及其他相关资产（“已收购资产”）。

2025年11月14日交易结束时，公司同意向卖方支付205,000美元，并向卖方发行5,300,000股普通股，合计公允价值为646,600美元。5,300,000股普通股于2026年1月14日发行。对RSO的收购按资产收购进行会计处理。

RSO的全部购买价格，加上约24,000美元的直接交易成本，分配给了技术平台，导致账面价值约为876,000美元，使用寿命为三年。该资产于收购日投入使用，并包含在资本化的软件中。在截至2026年6月30日的三个月和六个月期间，公司没有资本化任何额外的RSO软件开发成本。公司记录了截至2026年6月30日的三个月和六个月的RSO摊销费用，分别约为74,000美元和147,000美元。

附注4 – 资本化软件

截至以下日期的资本化软件包括：

	2026年6月30日			2025年12月31日
资本化软件	$	1,096,048			$	1,064,798
累计摊销		(226,413	)			(45,436	)
资本化软件，净额	$	869,635			$	1,019,362

2025年11月，公司收购了RSO，所收购的技术平台包含在资本化软件中；参见附注3。包括RSO在内，公司截至2026年6月30日的三个月和六个月期间分别资本化了5,000美元和31,000美元的软件开发成本，其中约零美元和25,000美元分别投入使用。截至2026年6月30日的三个月和六个月的摊销费用分别约为89,000美元和181,000美元。

截至2025年6月30日的三个月和六个月期间，公司资本化了约40,000美元的软件成本，截至2025年6月30日零美元投入使用。

SMRH:4912-0131-9128.1

-10-

MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至2026年及2025年6月30日的三个月和六个月（未经审计）

附注5 – 公允价值计量

下表列示了公司按公允价值计量的金融负债的公允价值，基于三层公允价值层级：

	2026年6月30日
	第一层级		第二层级			第三层级		合计
负债
可转换应付票据	$	-		$	-		$	513,731	$	513,731
其他流动负债		1,050			-			-		1,050
	$	1,050		$	-		$	513,731	$	514,781

	2025年12月31日
	第一层级		第二层级			第三层级		合计
负债
可转换应付票据	$	-		$	-		$	779,960	$	779,960
其他流动负债		646,600			-			105,040		751,640
	$	646,600		$	-		$	885,000	$	1,531,600

如附注7所述，公司选择使用公允价值选项记录可转换应付票据。公司使用情景基础模型（“SBM”）将这些可转换应付票据计量为公允价值，因此将这些负债分类为第三层级。估值的关键输入包括底层利率、股价、折现率、期限（以年为单位）、持有至转换的概率、违约概率以及持有至到期的概率。这些重大不可观察输入的变化可能导致报告日的公允价值计量显著偏高或偏低。这些工具公允价值的变化记录在损益表和综合损失的可转换应付票据公允价值变动中。

如注释3所述，2025年11月，公司因RSO资产收购而产生义务，需发行5,300,000股限制性普通股。公司使用普通股的未调整报价来估计该流动负债的公允价值。这些股份在2026年3月31日之前已发行。

在截至2026年6月30日的三个月内，公司因2026年5月发行的应付票据（参见注释6）而产生义务，需发行750,000股限制性普通股。由于截至2026年6月30日公司没有足够的法定授权股份来发行这些限制性普通股，因此在收到应付票据持有人的本金余额时确认了负债，并在2026年6月30日对这项负债进行了重新计量。截至2026年6月30日，公司使用普通股的未调整报价来估计流动负债的公允价值，且在截至2026年6月30日的三个月内未记录任何收益或损失。

如注释7所述，作为可转换桥式票据的一部分，公司产生义务向可转换桥式票据的持有人发行1,300,000股限制性普通股。公司使用期权定价模型来衡量发行限制性普通股的义务。估值的关键输入包括基础股票价格，该价格在授予日为0.10美元，以及用于调整股票价格以反映缺乏流动性（“DLOM”）的20%折扣。这些股份在2026年3月31日之前已发行。

以下是在可转换应付票据的公允价值计量中使用的重大不可观察输入：

	2026年6月30日
Level 3工具的重大不可观察输入	加权平均值
违约概率		66	%
持有到期概率		34	%
期限（年）		1.0
利率		12	%

SMRH:4912-0131-9128.1

-11-

MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至2026年6月30日的三个月和六个月（未经审计）

注释5 – 公允价值计量（续）

	2025年12月31日
Level 3工具的重大不可观察输入	加权平均值
转换概率		50	%
违约概率		50	%
持有到期概率		0	%
期限（年）		1.0
折现率		25.8	%
利率		12	%

下表提供了截至2026年6月30日的六个月期间内，可转换应付票据和其他流动负债在Level 3中的估计公允价值的调节情况：

2025年12月31日余额	$	885,000
可转换应付票据的发行		131,500
可转换应付票据的偿还		(70,000	)
其他流动负债的公允价值调整		15,860
发行普通股以满足其他流动负债		(120,900	)
可转换应付票据转换为股权		(163,841	)
可转换应付票据的公允价值调整		(163,888	)
2026年6月30日余额	$	513,731

注释6 – 应付票据

2026年5月29日，公司签订了一份总额为40,000美元的应付票据协议。该票据按20%的约定利率计息，本金和利息应在以下较早日期全额支付：(i) 合格融资的完成，或(ii) 发行日起十二个月，即2026年5月29日。该票据为无担保票据，不包含任何财务契约。未经公司事先书面同意，该票据不可转让。在发行该票据的同时，公司授予持有人750,000股公司普通股，该股票在公司收到本金金额后可发行。由于公司没有足够的合法授权股份在收到本金金额后发行限制性普通股，公司为此义务记录了负债；截至2026年6月30日，该流动其他负债估值约为1,000美元。

2026年5月28日，公司签订了一份为期十八个月、总额为21,000美元的应付票据协议，年利率为20.65%。根据协议，公司将在票据到期日之前每周支付约427美元。截至2026年6月30日，该票据的余额约为20,000美元。

在2025年，公司签订了若干总额为125,000美元的应付票据协议。本金和利息（年利率6%）应于2026年6月支付。每份应付票据的持有人在各自票据发行时还获得了相当于应付票据本金金额除以0.25美元的普通股股份数。在截至2025年12月31日的年度内，公司发行了500,000股普通股，与应付票据一起，价值约为32,000美元。发行的普通股价值作为应付票据的债务折扣记录，并在应付票据期限内按直线法摊销至利息费用，这与有效利息法没有重大差异。发行的普通股包含某些时间限制，规定持有人何时可以出售这些股份。截至2026年6月30日和2025年6月30日的三个月内，分别约有6,000美元和2,000美元的摊销计入利息费用；截至2026年6月30日和2025年6月30日的六个月期间，分别约有14,000美元和2,000美元的摊销计入利息费用。

截至2026年6月30日和2025年12月31日，应付票据的净余额分别为约193,000美元和115,000美元，其中分别包含约8,000美元和4,000美元的应计利息。截至2026年6月30日和2025年6月30日的三个月内，公司分别约有9,000美元和2,000美元的利息费用，包括债务折扣的摊销。截至2026年6月30日和2025年6月30日的六个月期间，公司分别约有19,000美元和2,000美元的利息费用，包括债务折扣的摊销。

SMRH:4912-0131-9128.1

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MOBILE GLOBAL ESPORTS INC.

财务报表附注

截至2026年6月30日及2025年6月30日的三个月及六个月（未经审计）

第7号附注 – 可转换应付票据

2025年8月期间，公司发行了总额为283,000美元的可转换票据（“2025年8月可转换票据”），总现金收入为275,000美元。2025年8月可转换票据年利率为10%，到期日为2026年5月30日（“到期日”）。任何未按时支付的本金或利息将按年利率22%计息。此外，2025年8月可转换票据可在发行后六个月开始转换为公司的普通股，转换价格等于65%乘以市场价格。市场价格是指在转换日前最近的完整交易日结束的十五（15）个交易日中普通股的三个（3）最低交易价格的平均值。2025年8月可转换票据可在发行日起至发行日后九十（90）天内以120%的价格提前偿还，以及在发行日后第九十一（91^st）天至发行日后一百八十（180）天内以125%的价格提前偿还。

2025年8月可转换票据的持有人有权在2025年8月可转换票据发行日后一百八十（180）天开始的期间内，直至以下两者中较晚者结束：(i) 到期日，或(ii) 违约金额（如票据协议第三章所述）支付日，就剩余未偿还金额而言，随时将2025年8月可转换票据的全部或部分未偿还金额转换为完全支付且不可追索的普通股，该普通股在发行日时的状态，或此后该普通股将被更改或重新分类为公司的任何普通股、资本股票或其他证券，按转换价格（“转换价格”）进行转换。

在转换权存在的期间，公司应从其已授权且未发行的普通股中预留足够数量的股份，无优先认购权，以满足2025年8月可转换票据全额转换时的普通股发行需求。公司必须始终授权并预留四倍于全额转换2025年8月可转换票据实际可发行股份数量的股份（基于不同时期的转换价格）（“预留金额”）。预留金额应根据公司的相关义务及当时的转换价格不时进行增加（和/或减少）。截至2026年6月30日，公司已为2025年8月可转换票据转换预留了37,027,748股普通股。

在截至2026年6月30日的三个月内，公司向2025年8月可转换票据的一位持有人支付了70,000美元。

During September 2025, the Company issued convertible promissory notes (“September Convertible Note A”) in the principal amount of $150,000, for total cash proceeds of $130,000. The September Convertible Note A bears interest at 6% per annum and had a maturity date of September 15, 2026. In addition, the Notes are convertible into the Company’s common stock beginning six (6) months after issuance at a conversion price equal to 65% multiplied by the Market Price. Market Price means the average of the three (3) lowest trading prices of the common stock during the fifteen (15) trading day period ending on the latest complete trading day prior to the conversion date. The September Convertible Note A may be prepaid by the Company at 110% beginning on the date of issuance until 29 days following the issuance date; at 115% from 30 to 59 days following the issuance date; at 125% from 60-89 days following the issuance date; 130% from 90-119 days following the issuance date; 135% from 120-149 days from the issuance date; and 140% from 150-180 days following the issuance date. The Company has reserved 69,897,047 shares of common stock of the Company for issuance upon conversion of the September 2025 Convertible Note A as of June 30, 2026.

During September 2025, the Company issued a convertible promissory note (“September Convertible Note B”) in the principal amount of $165,000, for total cash proceeds of $146,500. The September Convertible Note B bears interest at 10% per annum and had a maturity date of September 8, 2026. Any principal or interest which is not paid when due shall bear interest at the rate of the lesser of (i) 22% per annum and (ii) the maximum amount permitted by law from the due date thereof until the same is paid. In addition, the September Convertible Note B is convertible into the Company’s common stock beginning six (6) months after issuance at a conversion price equal to 65% multiplied by the Market Price. Market Price means the average of the three (3) lowest trading prices of the common stock during the fifteen (15) trading day period ending on the latest complete trading day prior to the conversion date. The September Convertible Note B may be prepaid by the Company at 97% beginning on the date of issuance until ninety (90) days following the issuance date; 98% from 91-150 days following the issuance date; and 99% from 151-180 days following the issuance date. The Company has reserved 167,538,462 shares of common stock of the Company for issuance upon conversion of the September 2025 Convertible Note B as of June 30, 2026.

During November and December 2025, the Company entered into several convertible promissory bridge notes (“Convertible Bridge Notes”) totaling $325,000. The principal and interest (at 17% per annum) will be due and payable in full on the close of a qualified financing event or twelve months from the date of execution, whichever comes first; a qualified financing event shall mean a registered public offering of the Company’s common stock resulting in an uplisting of such stock to the NASDAQ, NYSE, or another national securities exchange at a per-share offering price of not less than $4.00. Each holder of a Convertible Bridge Note also received shares of common stock equal to the principal amount of the note payable divided by $0.25 upon issuance of the respective Convertible Bridge Note. During the year ended December 31, 2025, there were 1,300,000 shares of common stock issued with the Convertible Bridge Notes at a value of approximately $105,000.

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 7 – Convertible Notes Payable (continued)

The common shares issued contain certain time restrictions on when they can be sold by the recipient, thus requiring the share price to be discounted in the fair value calculation (See Note 5). The common stock issued and issuable is subject to resale restrictions under Rule 144 of the Securities Act of 1933. At the time the convertible notes were issued, the Company did not have a sufficient number of authorized shares of common stock to settle the obligation to issue certain shares. Accordingly, the obligation to issue common stock was classified as a liability and measured at fair value. There was no material change in fair value between the issuance date and December 31, 2025. The Company amended its certificate of incorporation to authorize additional shares in January 2026. Upon effectiveness of the amendment, the obligation was reclassified to equity at fair value in January 2026, with a fair value of approximately $121,000. The 1,300,000 shares of common stock were issued in January 2026.

During March 2026, the holder of September Convertible Note A converted approximately $30,000 of principal and approximately $1,000 of accrued interest into 1,653,447 shares of common stock. The Company also issued 160,439 shares of common stock for approximately $8,000 of fees incurred.

During March 2026, the holder of September Convertible Note B converted approximately $12,000 of accrued interest into 449,602 shares of common stock. The Company also issued 135,398 shares of common stock to the holder of September Convertible Note B for approximately $4,000 of fees incurred.

During the three months ended June 30, 2026, the holder of September Convertible Note A converted approximately $85,000 of principal and approximately $3,000 of accrued interest into 40,659,249 shares of common stock. The Company also issued 9,559,980 shares of common stock for approximately $30,000 of fees incurred.

During the three months ended June 30, 2026, the holder of September Convertible Note B converted approximately $10,000 of principal and approximately $5,000 of accrued interest into 4,514,860 shares of common stock. The Company also issued 1,877,140 shares of common stock for approximately $9,000 of fees incurred.

On December 1, 2025, the Company entered into a Securities Purchase Agreement (the “Promissory Note Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company sold the Investor an unsecured original issue discount promissory note in the principal amount of $75,000 (the “2025 Promissory Note”) for which the Company received net proceeds of $59,000, as a $6,000 interest prepayment was deducted from the initial cash receipt. The 2025 Promissory Note carries an interest rate of 10%, which shall be applied to the principal on the issuance date of the 2025 Promissory Note, and is payable on the maturity date of December 1, 2026. The 2025 Promissory Note is convertible into common stock of the Company at any time after the 180^th daily anniversary of the 2025 Promissory Note or at any time following an event of default. The conversion price shall be $0.06 per share (the “Fixed Price”), however, if six months after the date of issuance the Company’s common stock trades below $0.06 for more than 5 consecutive trading days, then the Fixed Price shall be lowered to the lowest traded price during the default period. In the event that the Company’s common stock trades below such adjusted price per share for more than five consecutive trading days, then the Fixed Price shall be eliminated and the conversion price shall reset to the lowest traded price throughout the period of default and shall be re-adjusted every 21 days that the 2025 Promissory Note remains in default.

The 2025 Promissory Note provides for standard and customary events of default such as failing to timely make payments under the 2025 Promissory Note when due, the failure of the Company to timely comply with the Securities Exchange Act of 1934 reporting requirements and the failure to maintain a listing on the Over-the-Counter (“OTC”) Markets. The 2025 Promissory Note also contains customary covenants. At no time may the 2025 Promissory Note be converted into shares of the Company’s common stock if such conversion would result in the Investor, or its affiliates owning an aggregate of more than 9.99% of the then outstanding shares of the Company’s common stock.

The Promissory Note Purchase Agreement requires that during the period while any outstanding balance is owed, the Company will reserve from its authorized and unissued common stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of common stock upon the full conversion of the 2025 Promissory Note. The Company is required at all times to have authorized and reserved two times the number of shares that is actually issuable upon full conversion of the Note (based on the conversion price of the 2025 Promissory Note in effect from time to time) initially 5,000,000 shares (the “Reserved Amount”). The Reserved Amount shall be increased from time to time in accordance with the Company’s obligations pursuant to the Promissory Note Purchase Agreement. The Company has reserved 5,000,000 shares of common stock of the Company for issuance upon conversion of the 2025 Promissory Note.

On February 2, 2026, the Company entered into a convertible promissory bridge note (“Q1 2026 Convertible Bridge Note”) totaling $25,000. The principal and interest (at 17% per annum) will be due and payable in full on the close of a qualified financing event or twelve months from the date of execution, whichever comes first; a qualified financing event shall mean a registered public offering of the Company’s common stock resulting in an uplisting of such stock to the NASDAQ, NYSE, or another national securities exchange at a per-share offering price of not less than $4.00. The holder of a Convertible Bridge Note also received 100,000 shares of common stock, which was equal to the principal amount of the note payable divided by $0.25 upon issuance of the respective Q1 2026 Convertible Bridge Note. At the issuance of the convertible promissory bridge note, the 100,000 shares of common stock had a fair value of approximately $10,500 and the convertible note had a fair value of approximately $14,500.

SMRH:4912-0131-9128.1

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 7 – Convertible Notes Payable (continued)

On April 28 2026, the Company issued a convertible promissory note (“Q2 2026 Convertible Note”) in the principal amount of $130,000, for total cash proceeds of $117,000. This promissory note bears interest at 6% per annum and has a maturity date of April 28, 2027. In addition, this note is convertible into the Company’s common stock beginning six (6) months after issuance at a conversion price equal to 65% of the lowest trading price of the common stock as reported on the OTC Markets on which the Company’s shares are then traded or any exchange upon which the Common Stock may be traded in the future, for the fifteen prior trading days including the day upon which a Notice of Conversion is received by the Company. This promissory note may be prepaid by the Company at 110% beginning on the date of issuance until 29 days following the issuance date; at 115% from 30 to 59 days following the issuance date; at 125% from 60-89 days following the issuance date; 130% from 90-119 days following the issuance date; 135% from 120-149 days from the issuance date; and 140% from 150-180 days following the issuance date. As of the date of issuance, the Company has reserved 70,921,986 shares of common stock of the Company for issuance upon conversion of this promissory note.

During the three months ended June 30, 2026, the holder of Q2 2026 Convertible Note converted approximately $18,000 of principal into 8,500,000 shares of common stock.

On December 1, 2025 the Investor also entered into the Standby Equity Purchase Agreement (“SEPA”) with the Company; see Note 12.

The Company elected to utilize the FVO to account for the convertible notes payable. The change in fair value of the convertible notes payable at each balance sheet date, if any, is recorded in the accompanying statement of operations and comprehensive loss. See Note 5 for the fair value methodology used to fair value the convertible notes payable.

At June 30, 2026 and December 31, 2025, the fair value of the convertible promissory notes was approximately $514,000 and $780,000, respectively, which reflects a decrease of approximately $332,000 and $164,000 in fair value for the three and six months ended June 30, 2026, respectively. This change in fair value is included in earnings.

The convertible notes do not contain any embedded derivatives that require separate accounting, as these notes are measured at fair value under the FVO.

Note 8 – Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following as of:

	June 30, 2026		December 31, 2025
Accounts payable	$	223,665		$	93,387
Other accrued expenses		58,031			80,500
Total	$	281,696		$	173,887

Note 9 – Related Party Transactions

During the three and six months ended June 30, 2026, the Company paid payments of approximately $87,000 and $142,000, respectively, for product development and maintenance services provided by a third-party firm owned by the Company’s Director of Engineering. The Director of Engineering entered into an employment agreement with the Company in November 2025. The services provided by the related-party firm were rendered under terms the Company believes to be no less favorable than those that could have been obtained from an unrelated third party.

During the three and six months ended June 30, 2026, the Company incurred a total of approximately $57,000 and $103,000 expense, respectively, to certain stockholders for consulting services provided to the Company, which included payments to the Chief Executive Officer, Chief Operating Officer, a Financial Consultant, and a board member. During the three and six months ended June 30, 2026, the Company incurred a total of $7,500 and $15,000 for the quarterly board stipend payable to the Board of Directors for services provided.

During the three and six months ended June 30, 2026, the Company made payments of approximately $72,000 and $227,000 to certain stockholders for consulting services provided to the Company, which included payments to the Chief Executive Officer, Chief Operating Officer and a board member. In addition, during the three and six months ended June 30, 2025, the Company issued 1,500,000 and 16,125,000 shares of common stock valued at approximately $81,000 and $184,000, respectively, to various consultants for services provided. During the three and six months ended June 30, 2025, the Company incurred a total of nil and $13,000 for the quarterly board stipend payable to the Board of Directors for services provided. During the six months ended June 30, 2025, the Company issued 1,600,000 shares of common stock valued at approximately $13,000 for payment of the board stipend.

SMRH:4912-0131-9128.1

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 10 – Stockholders’ Deficit

Preferred Stock

The Company has authorized the issuance of 10,000,000 shares of $0.0001 par value preferred stock. At June 30, 2026 and December 31, 2025, there were nil shares issued and outstanding.

Common Stock

On January 12, 2026, the Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware to the Company’s Certificate of Incorporation (the “Certificate of Amendment”) to increase the number of authorized shares of the Company’s common stock from 100,000,000 to 300,000,000. As of June 30, 2026, the Company had authorized the issuance of 300,000,000 shares of $0.0001 par value common stock. At June 30, 2026 and December 31, 2025, there were 132,067,620 and 54,440,074 shares issued and outstanding, respectively.

Warrants

At June 30, 2026, the Company had the following warrants outstanding:

	Outstanding		Ex Price			Exercisable	Ex Price
2021 Consultant Warrants		1,000,000		$	1.00		1,000,000	$	1.00
IPO Warrants		172,500		$	6.60		172,500	$	6.60
PIPE Warrants		1,886,793		$	2.90		1,886,793	$	2.90
Placement Agent Warrants		339,623		$	2.92		339,623	$	2.92
2023 Consultant Warrants		170,000		$	3.00		170,000	$	3.00
2025 Warrants		500,000		$	0.26		500,000	$	0.26
Total Warrants		4,068,916					4,068,916

Note 11 – 2025 Incentive Plan

2025 Omnibus Equity Incentive Plan

On January 12, 2026, the Company filed a Certificate of Amendment to approve the Company’s 2025 Omnibus Equity Incentive Plan (“2025 Incentive Plan”) and reserved an aggregate of 13,422,000 shares of common stock for the issuance of awards thereunder. The plan administrator may grant incentive stock options, non-statutory stock options, share appreciation rights, restricted shares, restricted share units and other share-based awards to participants to acquire shares of the Company’s common stock under the 2025 Incentive Plan.

As of June 30, 2026, the total amount of shares authorized by the Board of Directors under the 2025 Incentive Plan was 13,422,000 with a total of 5,097,000 available for issuance. During the three and six months ended June 30, 2026, the Company granted 2,000,000 and 8,325,000 options, respectively, with a contractual term of ten years and a weighted average vesting term of nil and 2.4 months, respectively.

Determining the appropriate fair value model and the related assumptions requires judgment. The fair value of each option granted is estimated using a Black-Scholes option-pricing model on the date of grant as follows:

	Six Months Ended
	June 30, 2026
Estimated dividend yield		0.0	%
Expected stock price volatility		102.9	%
Risk-free interest rate		3.9	%
Expected life option (in years)		5.1
Weighted-average fair value per share	$	0.05

The expected volatility rates are estimated based on the actual volatility of MGAM over the expected term. The expected term represents the average time that options that vest are expected to be outstanding. Due to limited historical data, the Company calculates the expected life based on the midpoint between the vesting date and the contractual term, which is in accordance with the simplified method. The risk-free rate is based on the United States Treasury yield curve during the expected life of the option.

SMRH:4912-0131-9128.1

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 11 – 2025 Incentive Plan (continued)

The following summarizes the stock option activity for the six months ended June 30, 2026:

						Weighted Average
			Weighted Average			Remaining Contractual	Aggregate
	Number of Shares		Exercise Price			Term (in years)	Intrinsic Value
Outstanding as of December 31, 2025		-		$	-		-	$	-
Granted		8,325,000			0.06		-		-
Exercised		-			-		-		-
Forfeited		-			-		-		-
Outstanding as of June 30, 2026		8,325,000		$	0.06		9.74	$	-

Exercisable as of June 30, 2026		5,575,000		$	0.06		9.76	$	-

Vested and expected to vest as of June 30, 2026		8,325,000		$	0.06		9.74	$	-

The following table summarizes certain information about the stock options outstanding and exercisable as of June 30, 2026:

		Number of		Weighted-Average	Number of
Exercise Price		Options Outstanding		Remaining Life	Options Exercisable

$	0.100		850,000		9.63	350,000
$	0.095		50,000		9.67	50,000
$	0.080		3,175,000		9.71	3,175,000
$	0.070		2,250,000		9.71	-
$	0.006		500,000		9.86	500,000
$	0.004		1,500,000		9.88	1,500,000
			8,325,000			5,575,000

During the three and six months ended June 30, 2026, the Company granted 2,000,000 and 8,325,000 options with a total fair value of approximately $13,000 and $429,000, respectively. The company recorded approximately $254,000 and $419,000 of stock-based compensation expense during the three and six months ended June 30, 2026, respectively. At June 30, 2026, there was approximately $10,000 of total unrecognized compensation cost related to non-vested stock option compensation expense, which is expected to be recognized over a weighted-average period of 1.6 months.

Note 12 – Commitments and Contingencies

Legal

From time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently no litigation that management believes will have a material impact on the financial position of the Company.

Investment Bank

During September 2025, the Company signed an agreement (“Investment Bank Agreement”) with a brokerage firm and investment bank (“Investment Bank”); in the event that the Investment Bank introduces the Company to one or more persons or entities which results in the completion of a (i) non-financing transactions, including without limitation, licensing agreement(s), joint venture(s), merger(s) and acquisition(s) (collectively referred to as a “non-financing transaction”) and/or (ii) financing transactions, including equity, debt or any combination thereof and a financing transaction to complete a non-financing transaction, the Company will be entitled to pay a success fee (the “Placement Success Fee”) equal to 8% on a S-3 retail takedown, an equity placement, a private investment in public equity (“PIPE”), or a convertible note, and 6% on each draw down of an Equity Line of Credit (“ELOC”) along with 1% upfront commitment shares registered in the S-1 for the ELOC, and 4% for a debt deal/placement. The Placement Success Fee is due and payable to the Investment Bank immediately upon the closing of the placement and shall be disbursed directly to the Investment Bank simultaneously with the delivery of the proceeds of the placement to the Company.

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 12 – Commitments and Contingencies (continued)

The Investment Bank shall be entitled to receive from the Company a Placement Success Fee on any monies received from an Introduced Party (as defined in the Investment Bank Agreement) subsequent to the final closing of the placement (the “Tail Fee”). The Tail Fee shall be payable in cash and shall be based upon whether the transaction was completed as an equity or debt financing. In the event that a placement is a combination equity/debt deal, then the placement shall be appropriately pro-rated between the two transactions. The tail is activated, and in effect for 12 months from the date of termination or expiration of this Investment Bank Agreement, or from the last funding tranche; whichever is the latter.

At the time of closing of a financing transaction during the term or the tail period, the Company also shall pay the Investment Bank equity in the form of common stock equal to 7% of the gross proceeds received.

The Company issued 917,431 shares of common stock to the Investment Bank, with an approximate fair value of $106,000, during the six months ended June 30, 2026. The Investment Bank earned this Placement Success fee for helping to originate the Standby Equity Purchase Agreement that was signed on December 1, 2025.

During November 2025, the Company signed an agreement (“Underwriting Agreement”) with the Investment Bank to act as the Company’s exclusive financial advisor, sole book-runner, sole underwriter and sole investment banker in connection with a proposed Initial Public Offering (“IPO”) or any other financing; the term of this engagement is six months. The Underwriting Agreement will provide that in an IPO, the Company will grant to Craft Capital an option, exercisable within 45 days after the closing of the IPO (“Closing”), to acquire up to an additional 15% of the total number of Shares to be offered by the Company in the IPO, solely for the purpose of covering over-allotments (the “Over-allotment Shares”).

The Company will pay the Investment Bank an underwriting discount or spread of 7.0% of the IPO price. The Investment Bank will also be entitled to a non-accountable expense allowance of 1% payable at the Closing (the “Non-Accountable Expense Allowance”). As additional compensation for the Investment Bank’s services, the Company shall issue to the Investment Bank or its designees at the Closing; warrants (the “Underwriter’s Warrants”) to purchase that number of Shares equal to 5.0% percent of the aggregate number of Shares sold in the IPO (including Overallotment Shares, if applicable). The Underwriter’s Warrants will be exercisable at any time and from time to time, in whole or in part, during the 5-year period commencing at the time of the IPO, at a price per share equal to 125.0% of the IPO price per Share at the IPO (and shall provide for adjustments to the exercise price and number of shares of ordinary shares for which the warrant is exercisable in the event of stock dividends, splits and recapitalizations). The Underwriter’s Warrant shall not be redeemable. The Underwriter’s Warrants may not be sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the securities for a period of six months following the commencement of sales of the IPO, except that they may be assigned, in whole or in part, to any successor, officer, manager, member or partner of the Investment Bank (or to officers, managers or members for any such successor, member or partner), if all securities so transferred remain subject to the lock-up restriction for the remainder of the time period. The Underwriter’s Warrant will provide for registration rights (including a one-time demand registration right and unlimited piggyback rights) and customary anti-dilution provisions (for stock dividends and splits and recapitalizations) consistent with Financial Industry Regulatory Authority (“FINRA”) Rule 5110, and further, the number of shares underlying the Underwriter’s Warrants and any of the other compensation and expense payments/reimbursements shall be reduced if necessary to comply with FINRA rules or regulations.

At June 30, 2026 and December 31, 2025, the Company has incurred approximately $68,000 and $50,000, respectively, in deferred offering costs.

Standy Equity Purchase Agreement (“SEPA”)

On December 1, 2025, the Company entered into a SEPA with the Investor, pursuant to which the Company may sell up to $10 million of its common stock, par value $0.0001 per share, over a period ending on the Maturity Date, defined as the first day of the month following the 24-month anniversary of the Commencement Date.

Under the SEPA, the Company issued 500,000 restricted shares of common stock as a Commitment Fee valued at approximately $79,000, which were deemed earned upon execution. The Investor is obligated to purchase, and the Company has the right (but not the obligation) to direct the Investor to purchase, additional shares (“Purchase Shares”) through written Request Notices, subject to specified Request Limits. These limits cap any single request to the lesser of $1,000,000 or 400% of the average trading volume over the 10 preceding trading days, with a minimum request of $25,000 and at least 10 business days between requests.

The purchase price for each draw equals 85% of the lowest daily closing price during the 10-day valuation period preceding the purchase date. All shares issued must be DWAC-eligible and freely tradable under an effective registration statement. Additionally, the SEPA includes a 9.99% beneficial ownership cap, preventing the Investor from acquiring shares that would put its beneficial ownership above that threshold.

The Company must maintain an effective resale registration statement, ensure continued listing on its Principal Market, and comply with restrictions preventing integration of this financing with other securities offerings. The Investor is prohibited from engaging in short sales or hedging transactions during the term of the SEPA. The SEPA also includes customary representations, warranties, and covenants by both parties, as well as indemnification provisions in favor of the Investor.

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MOBILE GLOBAL ESPORTS INC.

NOTES TO FINANCIAL STATEMENTS

For the Three and Six Months Ended June 30, 2026 and 2025 (unaudited)

Note 12 – Commitments and Contingencies (continued)

The SEPA may be terminated under several conditions, including failure of the Commencement to occur by December 31, 2025, the Company’s completion of the full $10,000,000 commitment amount, or the arrival of the Maturity Date. Certain obligations, including indemnification, survive termination.

On December 1, 2025, the Company entered into the Promissory Note Purchase Agreement with this same Investor, pursuant to which the Company sold the Investor an unsecured original issue discount promissory note in the principal amount of $75,000; see Note 7.

Under the SEPA during April 2026, the Company issued 2,500,000 restricted shares of common stock for total cash proceeds of $25,000 and stock issuance costs of $1,500.

Note 13 – Selling, General and Administrative Expense

Selling, general and administrative costs are expensed as incurred and primarily include personnel costs in the U.S., public filing fees, travel expenses, contractor fees, and professional fees. Advertising expense was immaterial for the three and six months ended June 30, 2026 and 2025.

Note 14 – Net Loss Per Share

Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the periods. Fully diluted net loss per common share is computed using the weighted-average number of common and dilutive common equivalent shares outstanding during the periods. Common equivalent shares consist of warrants that are computed using the treasury stock method.

At June 30, 2026 and December 31, 2025, there were 4,068,916 warrants outstanding. Due to the net loss incurred potentially dilutive instruments would be anti-dilutive. Accordingly, diluted net loss per share is the same as basic net loss per share for all periods presented.

Note 15 – Discontinued Operations

In a strategic shift to focus on its flagship product, Dominus Sports, the Company decided to discontinue operations at its India subsidiary, MOGO Pvt Ltd. Because the Company will no longer work with universities to promote and establish sports leagues on college campuses, the Company has determined that the disposal of this subsidiary qualifies for reporting as a discontinued operation.

During the three and six months ended June 30, 2025, there was approximately nil and $1,600 of revenue from discontinued operations, respectively. During the three and six months ended June 30, 2025 there was approximately $67,000 and $73,000 of selling, general and administrative expenses from discontinued operations, respectively. Additionally, during the three and six months ended June 30, 2025, there was an approximate nil and $13,000 gain on sale of property and equipment, respectively, resulting from the discontinuing of operations.

During the six months ended June 30, 2025, there was approximately $91,000 of net cash provided by operating activities for discontinued operations.

Note 16 – Subsequent Events

During July and August 2026, the holder of September Convertible Note A converted approximately $14,000 of principal and approximately $1,000 of accrued interest into 27,279,987 shares of common stock. The Company also issued 9,181,928 shares of common stock for approximately $11,000 of fees incurred.

During July 2026 and August 2026, the holder of September Convertible Note B converted approximately $5,000 of principal and approximately nil of accrued interest into 8,556,122 shares of common stock. The Company also issued 6,733,878 shares of common stock to the holder of September Convertible Note B for approximately $6,000 of fees incurred.

Management has evaluated the subsequent events for disclosure in these financial statements through October 14, 2026, the date these financial statements were available for issuance and determined that no other events have occurred that would require adjustment to or disclosure in these financial statements.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

You should read the following discussion and analysis of our financial condition and results of operations together with our condensed financial statements and related notes appearing in this Quarterly Report on Form 10-Q. This discussion and other parts of this Quarterly Report contain forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. As a result of many factors, including those factors set forth in the “Risk Factors” section of this Quarterly Report, our actual results could differ materially from the results described in, or implied by, the forward-looking statements contained in the following discussion and analysis.

Overview

We are a technology and intellectual-property-driven gaming and digital entertainment company developing proprietary platforms that deliver skill-based, data-supported, and highly personalized interactive experiences. The Company’s focus is on creating curated engagement products that blend fantasy sports frameworks, predictive modeling, gamification mechanics, and behavioral personalization to drive user participation through direct team ownership across underserved and emerging segments of the sports entertainment marketplace.

MGAM’s current strategy emphasizes the development and commercialization of technology assets, data-driven scoring engines, mobile-first user interfaces, and proprietary behavioral-logic systems designed to support next-generation fantasy formats. These products are intended to offer users deeper strategic optionality and more immersive experiences than conventional fantasy sports models, which often rely on simplified scoring systems and limited personalization.

Components of Statements of Operations

Revenue and Cost of Revenue

Dominus Sports: During 2025, the Company established a beta league for fantasy baseball utilizing its Dominus Sports product, which provides customers the opportunity to create and own a team with three different tier pricing options. Ownership fees paid provide the customer with ownership rights over a five-year period; these ownership fees are recorded as a liability and paid out as prize money (“Team Prize Payout”) over the five-year ownership period. Customers also have the ability to buy additional micro transactions, which provide various additional rights or improvements to their teams. Micro transactions are generally recognized as revenue when billed.

RSO: During 2025, the Company acquired RSO, which is a premier dynasty-style Football fantasy sports platform built around real-world contract negotiations, salary-cap management, and multi-season franchise control. The Company earns subscription and support revenue by granting customers access to its RSO platform technology, whereby customers are able to manage a football fantasy team. Subscription and support revenue primarily includes subscription fees from customers accessing the Company’s RSO platform (“RSO Platform Services”).

Subscription and support revenues are comprised of fees that provide customers with access to the RSO Platform Services and related support and updates during the term of the arrangement. RSO Platform Services allow customers to use the Company’s software without taking possession of the software. Revenue is generally recognized ratably over the contract term. Substantially all of the Company’s subscription service arrangements are noncancellable and do not contain refund-type provisions.

The Company typically invoices its customers annually and its payment terms provide that customers pay within 30 days of invoice. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether transfer of control to the customer has occurred.

Revenue for the three and six months ended June 30, 2026 from RSO Platform Services and Dominus Sports was approximately $16,000 and $22,000, respectively. During the six months ended June 30, 2025, the Company received approximately $1,600 of revenue (included as part of discontinued operations) from prize money earned from teams that it sponsored for certain Esports competitions.

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Cost of Revenue

Cost of revenue consists primarily of costs directly attributable to providing customers access to the Company’s fantasy league platforms (both Dominus Sports and RSO Platform Services), including hosting and cloud infrastructure costs, third-party data and content fees, payment processing fees, platform-related customer support costs, and amortization of capitalized software costs related to the platform. Costs incurred for sales and marketing, and general and administrative activities are excluded from cost of revenue and expensed as incurred.

Selling, General and Administrative Expenses

Selling, general and administrative costs are expensed as incurred and primarily include personnel costs in the U.S., public filing fees, travel expenses, contractor fees, and professional fees.

Critical Accounting Policies and Estimates

We discussed our accounting policies and significant assumptions used in our estimates in Note 2 of our audited financial statements included in our Annual Report on Form 10K for the year ended December 31, 2025, and that disclosure should be read in conjunction with the Quarterly Report on Form 10-Q. There have been no material changes during the six months ended June 30, 2026 to our critical accounting policies, significant judgments and estimates disclosed in our Annual Report on Form 10K for the year ended December 31, 2025.

Results of Operations

Three and six months Ended June 30, 2026 compared with the Three and six months Ended June 30, 2025

The following table summarizes the results of our operations for the three and six months ended June 30, 2026 and 2025, together with the changes in those items in dollars and as a percentage:

	Three Months Ended June 30,			$			%		Six Months Ended June 30,		$			%
	2026			2025			Change		Change		2026			2025			Change		Change

Revenue	$	15,557			$	-		$	15,557			*			$	21,877		$	-		$	21,877		*
Costs and expenses:
Cost of revenue		103,537				-			103,537			*				207,005			-			207,005		*
Selling, general and administrative expenses		760,508				380,043			380,465			100	%			1,388,947			772,594			616,353		80	%
Total costs and expenses		864,045				380,043			484,002			127	%			1,595,952			772,594			823,358		107	%
Loss from operations		(848,488	)			(380,043	)		(468,445	)		123	%			(1,574,075	)		(772,594	)		(801,481	)	104	%
Interest income (expense), net		(9,470	)			(1,820	)		(7,650	)		420	%			(19,394	)		(1,799	)		(17,595	)	**
Other income (expense)		-				-			-			*				137,840			-			137,840		*
Loss on dissolution of MOGO Pvt Ltd		-				-			-			-				(8,621	)		-			(8,621	)	*
Change in fair value of convertible notes payable		331,947				-			331,947			*				163,888			-			163,888		*
Loss from continuing operations, before income taxes		(526,011	)			(381,863	)		(144,148	)		38	%			(1,300,362	)		(774,393	)		(525,969	)	68	%
Loss from operation of discontinued MOGO Pvt Ltd		-				(67,335	)		67,335			(100	)%			-			(71,367	)		71,367		(100	)%
Gain on classification as held for sale		-				-			-			*				-			12,866			(12,866	)	(100	)%
Net loss	$	(526,011	)		$	(449,198	)	$	(76,813	)		17	%		$	(1,300,362	)	$	(832,894	)	$	(467,468	)	56	%

Not meaningful

Significantly more than 500%

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Revenue

Revenue for the three and six months ended June 30, 2026 from RSO Platform Services and Dominus Sports was approximately $16,000 and $22,000 compared to nil for the three and six months ended June 30, 2025.

Cost of Revenue

Cost of revenue for the three and six months ended June 30, 2026 was approximately $104,000 and $207,000, respectively, compared to nil for the three and six months ended June 30, 2025. The increase in cost of revenue for the three months ended June 30, 2026 was primarily driven by increases of approximately $2,000 in payment processing fees; $7,000 in software subscription expense; $5,000 in hosting expense and licensing fees; and $89,000 in software development expense and amortization of capitalized software.

The increase in cost of revenue for the six months ended June 30, 2026 was primarily driven by increases of approximately $4,000 in payment processing fees; $14,000 in software subscription expense; $8,000 in hosting expense and licensing fees; and $181,000 in software development expense and amortization of capitalized software.

Selling, General and Administrative Expenses

Selling, general and administrative expenses were approximately $761,000 and $1,389,000 for the three and six months ended June 30, 2026, respectively, compared with approximately $380,000 and $773,000 for the three and six months ended June 30, 2025, respectively. The increase in general and administrative expenses for the three months ended June 30, 2026 was primarily driven by increases of approximately $254,000 in stock-based compensation expense; $28,000 in payroll expense; $103,000 in legal, accounting and professional expense; and $131,000 in software maintenance expense. This increase was offset by decreases of approximately $68,000 in consulting expense and board fees; $15,000 in insurance expense; $29,000 in marketing, travel and entertainment expense; and $29,000 in other tax expense.

The increase in general and administrative expenses for the six months ended June 30, 2026 was primarily driven by increases of approximately $419,000 in stock-based compensation expense; $86,000 in payroll expense; and $208,000 in legal, accounting and professional expense; and $131,000 in software maintenance expense. This increase was offset by decreases of approximately $153,000 in consulting expense and board fees; $21,000 in insurance expense; $29,000 in marketing, travel and entertainment expense; and $31,000 in other tax expense.

Discontinued Operations

As a result of this strategic shift, the India subsidiary’s revenue decreased by approximately $1,600 for the six months ended June 30, 2026 compared to June 30, 2025. Additionally, selling, general and administrative expenses also decreased by approximately $67,000 and $73,000 for the three and six months ended June 30, 2026 compared to June 30, 2025. Additionally, during the six months ended June 30, 2025, the India subsidiary recorded a $13,000 gain on classification as held for sale.

Liquidity and Capital Resources

As of June 30, 2026 and December 31, 2025, we had cash of approximately $20,000 and $573,000, respectively.

We have financed operations through the issuance of common stock with warrants; notes payable; and convertible notes payable; and convertible notes payable with restricted common stock. In 2025 the Company issued 500,000 shares of common stock with warrants to purchase up to 500,000 shares of common stock (“2025 Warrants”) at an exercise price of $0.26 per share through a private stock offering. The total purchase price was $0.25 per share and warrant for total gross proceeds of $125,000. In 2025, we also issued several note payable agreements totaling $125,000 and issued several convertible promissory notes for total gross proceeds of $610,500. We also issued $325,000 in convertible notes payable, whereby the holders of these notes were entitled to receive 1,300,000 shares of restricted common stock. During the six months ended June 30, 2026, we issued $155,000 in convertible notes payable with 100,000 shares of restricted common stock. During the six months ended June 30, 2026, we also issued $61,000 in notes payable with an obligation to issue 750,000 shares of restricted common stock. During April 2026, the Company issued 2,500,000 restricted shares of common stock for total cash proceeds of $25,000 and stock issuance costs of $1,500.

Funding Requirements

We believe we will need to raise additional funding to meet our cash, operational and liquidity requirements for at least 12 months after the date of this quarterly report.

See “Risk Factors” for additional risks associated with our substantial capital requirements.

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Cash Flows

The following table summarizes our sources and uses of cash:

	Six months Ended
	June 30,
	2026			2025
Net cash provided by (used in):
Operating activities	$	(680,882	)		$	(512,620	)
Investing activities		(26,750	)			(40,000	)
Financing activities		154,263				220,000
Effect of exchange rate changes on cash		-				(523	)
Net decrease in cash	$	(553,369	)		$	(333,143	)

Operating Activities

Net cash used in operating activities increased by approximately $168,000 for the six months ended June 30, 2026 compared with the six months ended June 30, 2025. The increase was primarily due to a $138,000 gain on the change in fair value of other current liabilities; and a $467,000 increase in net loss, a $40,000 decrease in common stock issued for services; and a $164,000 decrease in the fair value of convertible note payable; offset by a $181,000 increase in depreciation expense and amortization of capitalized software; a $419,000 increase in non-cash expense for stock-based compensation; a $9,000 foreign currency translation adjustment to retained earnings; a $13,000 increase in amortization of debt discount; and a $19,000 increase in operating assets and liabilities.

Investing Activities

Net cash used in investing activities decreased by approximately $13,000 for the six months ended June 30, 2026 compared with the six months ended June 30, 2025. This decrease was primarily due to a $13,000 decrease in software costs.

Financing activities

Net cash provided by financing activities decreased by approximately $66,000 for the six months ended June 30, 2026 compared with the six months ended June 30, 2025. The change was due to an increase of financing raised from the issuance of convertible notes payable, notes payable and common stock, totaling approximately $7,000, offset by payment of deferred offering costs of approximately $2,000 and repayment of convertible notes payable and notes payable of approximately $71,000.

As an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), we can take advantage of an extended transition period for complying with new or revised accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have irrevocably elected to “opt out” of this provision and, as a result, we will comply with new or revised accounting standards when they are required to be adopted by public companies that are not emerging growth companies.

Subject to certain conditions, as an emerging growth company, we rely on certain of these exemptions, including without limitation:

●

reduced disclosure about our executive compensation arrangements;

●

no advisory votes on executive compensation or golden parachute arrangements; and

●

exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting.

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We may take advantage of these exemptions for up to five years or such earlier time that we are no longer an emerging growth company. We would cease to be an emerging growth company on the date that is the earliest of (i) the last day of the fiscal year in which we have total annual gross revenues of $1.235 billion or more; (ii) the last day of 2027; (iii) the date on which we have issued more than $1.0 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the SEC. We may choose to take advantage of some but not all of these exemptions. Accordingly, the information contained herein may be different from the information you receive from other public companies in which you hold stock.

Smaller Reporting Company

As a “smaller reporting company,” as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in addition to providing reduced disclosure about our executive compensation arrangements and business developments, among other reduced disclosure requirements available to smaller reporting companies, we present only two years of audited financial statements in addition to any required unaudited interim financial statements with correspondingly reduced “Management’s Discussion and Analysis of Financial Condition and Results of Operations” disclosure. Accordingly, the information contained herein may be different from the information you receive from other public companies in which you hold stock.

Off-Balance Sheet Arrangements

We did not have during the periods presented, and we do not currently have, any off-balance sheet arrangements, as defined in the rules and regulations of the SEC.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of June 30, 2026, management has not completed an effective assessment of the Company’s internal controls over financial reporting based on the 2013 Committee of Sponsoring Organizations (COSO) framework. Management has concluded that, during the period covered by this quarterly report, our internal controls and procedures were not effective to detect the inappropriate application of U.S. GAAP. Management identified the following material weaknesses set forth below in our internal control over financial reporting.

We lack the necessary corporate accounting resources to maintain adequate segregation of duties.

We did not perform an effective risk assessment or monitor internal controls over financial reporting or our cyber security environment.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION.

Item 1. Legal Proceedings.

We are not currently subject to any legal proceedings or claims, however, we may become subject to legal proceedings and claims arising in connection with the normal course of our business.

Item 1A. Risk Factors.

RISK FACTORS

You should carefully review and consider the information regarding certain factors which could materially affect our business, financial condition or future results set forth under the heading “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. There have been no material changes from the risk factors previously disclosed therein, except as set forth below;

We will require additional financing in order to implement and execute our business plan, and we cannot be certain that such additional financing will be available on reasonable terms when required, or at all.

As of June 30, 2026, we had a cash balance of approximately $20,000. We believe we will need to raise additional funding to meet our cash, operational and liquidity requirements to continue operating for at least 12 months after the date of this quarterly report.

We have obtained some additional financing during the six months ended June 30, 2026. However, we continue to seek additional financing and there can be no assurance that such additional capital will be available on a timely basis, or on terms acceptable to the Company. If adequate funds are not available or are not available on acceptable terms when needed, the Company may not be able to fund its business or its expansion, take advantage of strategic acquisitions or investment opportunities or respond to competitive pressures. Such inability to obtain additional financing when needed could have a material adverse effect on the Company’s business, results of operations, cash flow, financial condition and prospects. Any future equity financing may involve substantial dilution to existing shareholders.

If we raise additional funds by issuing equity or convertible debt securities, we will reduce the percentage ownership of our then-existing stockholders, and the holders of those newly-issued equity or convertible debt securities may have rights, preferences, or privileges senior to those possessed by our then-existing stockholders and/or note holders. Additionally, future sales of a substantial number of shares of our Common Stock or other equity-related securities could depress the market price of our Common Stock in the public market, and could impair our current or future ability to raise capital through the sale of additional equity or equity-linked securities or the sale of debt. We cannot predict the effect that future sales of our Common Stock or other equity-related securities would have on the market price of our Common Stock.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

During the three months ended June 30, 2026, the holder of Q2 2026 Convertible Note converted approximately $18,000 of principal into 8,500,000 shares of common stock.

During May 2026, the Company issued a $40,000 note payable; when the principal was received by the investor in June 2026, the Company became obliged to issue 750,000 shares of restricted common stock, once the Company has a sufficient number of legally authorized shares.

Under the SEPA during April 2026, the Company issued 2,500,000 restricted shares of common stock for total cash proceeds of $25,000 and stock issuance costs of $1,500.

During January 2026, the Company issued 5,300,000 shares of common stock in connection with the asset purchase agreement with Reality Sports Online, Inc. in exchange for a technology platform, intellectual property, and other related assets.

During January 2026, the Company issued 1,300,000 shares of common stock in connection with convertible promissory notes that were issued during the three months ended December 31, 2025, in the total principal amount of $325,000. The holders of the notes payable also received shares of common stock equal to the principal amount of the note payable divided by $0.25 upon issuance of the respective notes payable.

During February 2026, the Company issued a convertible promissory note in the total principal amount of $25,000. The holder of the note payable also received shares of common stock equal to the principal amount of the note payable divided by $0.25 upon issuance of the respective note payable. There were 100,000 shares of common stock issued with the notes payable.

As part of the Company’s Investment Bank Agreement, the Company issued 917,431 shares of common stock to the Investment Bank, with an approximate fair value of $106,000, during the six months ended June 30, 2026. The Investment Bank earned this Placement Success fee for helping to originate the Standby Equity Purchase Agreement that was signed on December 1, 2025.

The foregoing issuances were made in reliance upon the exemption from registration under Section 4(a)(2) of the Securities Act.

Item 3. Defaults Upon Senior Securities

None.

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Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Rule 10b5-1 Trading Plans

During the fiscal quarter ended June 30, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Item 6. Exhibits

The exhibits listed on the Exhibit Index hereto are filed or furnished (as stated therein) as part of this Quarterly Report on Form 10-Q.

EXHIBIT INDEX

Exhibit No.		Document
31.1*		Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act.
31.2*		Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act.
32.1**		Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act.
32.2**		Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act.
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File - the cover page from the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 is formatted in Inline XBRL

Filed herewith.

Furnished herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MOBILE GLOBAL ESPORTS INC.

DATE: October 14, 2026	By:	/s/ Brett Rosin
		Brett Rosin
		Chief Executive Officer
		(Principal Executive Officer)

	MOBILE GLOBAL ESPORTS INC.

DATE: October 14, 2026	By:	/s/ Rodney Lewis
		Rodney Lewis
		Chief Financial Officer
		(Principal Financial and Accounting Officer)

SMRH:4912-0131-9128.1

-28-

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