Mon, Mar 24, 11:47 AM (34 days ago)
### Summary of Golden Matrix Group, Inc. (GMGI) 10-K **Financial Performance:** - **Revenue:** $151,115,532 for the twelve months ended December 31, 2024, up 63% from $92,993,521 in 2023. - **Net Income:** A net loss of $1,480,249 for 2024, compared to a net income of $13,702,538 in 2023. - **Gross Profit:** $88,572,125 for 2024, a 30% increase from $68,243,228 in 2023. - **Operating Expenses:** General and administrative expenses increased by 58% to $85,828,421 in 2024. **Strategic Overview:** - **Acquisitions:** Significant acquisitions include MeridianBet Group and Classics Holdings Co. Pty Ltd., expanding the company's operations in online sports betting, online casino, and gaming. - **Market Position:** The company operates in over 15 jurisdictions across Europe, Africa, and Central and South America, with a focus on both online and retail segments. **Future Outlook:** - **Growth Strategy:** Plans include investing in technology, expanding global reach, and completing acquisitions to enhance competitive position. - **Risk Factors:** Key risks include economic downturns, regulatory changes, and dependence on key personnel. **Financial Condition:** - **Cash and Liquidity:** $30,125,944 in cash as of December 31, 2024, with a working capital deficit of $18,484,062. - **Debt:** Significant debts include loans from Unicredit Bank, Hipotekarna Bank, Igor Salindrija, and a Secured Convertible Note from Lind Global Asset Management VIII LLC. **Market Position Changes:** - **Expansion:** The company has expanded its operations through acquisitions and strategic investments, aiming to increase its market share and revenue streams. **Risk Factors:** - **Economic Risks:** Vulnerable to economic downturns, inflation, and changes in consumer spending. - **Regulatory Risks:** Subject to various regulations and licensing requirements, which could impact operations and financial performance. - **Operational Risks:** Dependence on key personnel and potential disruptions in technology and infrastructure. **Note:** The company's financial performance and strategic initiatives reflect a focus on growth through acquisitions and expansion, while navigating significant economic and regulatory challenges.