Mike Zoi - Jan 30, 2023 Form 4 Insider Report for Motorsport Games Inc. (MSGM)

Role: 10%+ Owner
Signature: /s/ Dmitry Kozko, attorney-in-fact for Mike Zoi
Stock symbol: MSGM
Transactions as of: Jan 30, 2023
Transactions value $: $1,000,000
Form type: 4
Date filed: 1/30/2023, 04:54 PM
Next filing: Feb 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MSGM	Class A Common Stock	Purchase	$1M	+339K	+48.43%	$2.95	1.04M	Jan 30, 2023	By Motorsport Network, LLC	F1, F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On January 30, 2023, Motorsport Network, LLC ("Motorsport Network") entered into a debt-for-equity exchange agreement with Motorsport Games Inc. (the "Company") pursuant to which the Company agreed to issue to Motorsport Network 338,983 shares of the Company's Class A common stock in exchange for an amount equal to $1,000,000, which represents a portion of the Company's outstanding balance (including the principal and accrued and not yet paid interests thereon) under the promissory note in favor of Motorsport Network dated April 1, 2020, as amended on November 23, 2020.
F2	The Nasdaq Official Closing Price as reported on January 27, 2023.
F3	On November 10, 2022, the Company effected a 1-for-10 reverse stock split of its outstanding shares of Class A common stock. The amount of securities reported as beneficially owned on this Form 4 has been adjusted to reflect the reverse stock split.
F4	These shares are owned directly by Motorsport Network and indirectly by Mike Zoi as Manager of Motorsport Network.

Remarks:

Exhibit List: 99.1 List of Other Reporting Person