移动全球电竞有限公司 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal quarter endedSeptember 30,2025 or Commission File Number:001-41458 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☐Accelerated Filer☐Non-accelerated Filer☒Smaller Reporting Company☒Emerging Growth Company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act☒ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ As of November 12, 2025, there were53,690,074shares of the registrant’s common stock outstanding. MOBILE GLOBAL ESPORTS INC. Table of Contents PagePART I. FINANCIAL INFORMATIONItem 1.Condensed Financial Statements (unaudited)1Condensed Balance Sheets as of September 30, 2025 and December 31, 20241Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2025 and 20242Condensed Statements of Stockholders’ Equity for the Three and Nine Months Ended September 30, 2025 and 20243Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 20244Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations14Item 3.Quantitative and Qualitative Disclosures About Market Risk18Item 4.Controls and Procedures18Part II. Other InformationItem 1.Legal Proceedings19Item 1A.Risk Factors19Item 6.Exhibits20Signatures21i Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical factscontained in this Quarterly Report may be forward-looking statements. The forward-looking statements are contained principally inthe sections entitled “Risk Factors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”but are also contained elsewhere in this Quarterly Report. In some cases, you can identify forward-looking statements by terms such as“may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “intends,” “targets,” “projects,” “contemplates,”“believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results,performance or achievements to be materially different from any future results, performance or achievements expressed or implied bythe forward-looking statements. Forward-looking statements include, but are not limited to, statements about: ●Failure of future market acceptance of our mobile esports products and services;●Increased levels of competition;●Changes in political, economic or regulatory conditions generally and in the markets in which we operate;●Our ability to retain and attract senior management and other key employees;●Our ability to protect our trade secrets or other proprietary rights, operate without infringing upon the proprietary rights ofothers and prevent others from infringing on the proprietary rights of the Company; and●Other risks, including those described in the “Risk Factors” discussion. 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-Kfor the fiscal year ended December 31, 2024. There have been no material changes from the risk factors previously disclosed therein,except as set in the“Risk Factors” section of this Quarterly Report on Form 10-Q for a discussion of important factors that may causeour actual results to differ materially from those expressed or implied by our forward-looki