Form 4: GMGI Director Converts $100K Post-Closing Cash to Stock

Aleksandar Milovanovic, a director and 10% owner of Golden Matrix Group, Inc., converted $100,000 of post-closing cash consideration into 85,470 shares of common stock at $1.17 per share.

Summary

• Aleksandar Milovanovic, a Director and 10% Owner of Golden Matrix Group, Inc. (GMGI), converted $100,000 of post-closing cash consideration into common stock.
• The conversion resulted in the acquisition of 85,470 shares of GMGI common stock.
• The conversion price was $1.17 per share, which was the closing sales price of the Issuer's common stock on September 26, 2025.
• The transaction occurred on September 26, 2025, pursuant to a Post-Closing Cash Conversion Agreement dated August 29, 2025, and entered into on September 9, 2025.
• Following this transaction, Aleksandar Milovanovic beneficially owns 85,328,294 shares of common stock, excluding shares related to a voting group.
• Milovanovic is part of a 'group' for Section 13(d) purposes, formed by an Amended and Restated Nominating and Voting Agreement dated January 29, 2025, which collectively owns more than 10% of outstanding common stock.

Sentiment

Score: 7

Explanation: The conversion of owed cash into equity by a director and significant owner is generally a positive signal, indicating continued confidence and alignment of interests with the company's performance, even if it's not a fresh cash investment.

Positives

• A director and significant owner converting owed cash into equity demonstrates continued alignment of interests with shareholders and confidence in the company's future.
• The conversion increases the insider's direct equity stake in the company.

Negatives

• The transaction represents a conversion of existing consideration rather than a fresh cash investment into the company.

Risks

• The reporting person is part of a 'group' under Section 13(d) of the Exchange Act, which collectively owns more than 10% of the outstanding shares, potentially influencing corporate control.
• While the reporting person disclaims beneficial ownership of securities owned by other signatories to the Voting Agreement, the existence of such a group could be perceived as a concentration of voting power.

Future Outlook

This filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction, beyond the execution of a pre-existing agreement.

Industry Context

This insider transaction is specific to Golden Matrix Group, Inc. and does not provide broader industry trends or competitive analysis. However, insider conversions of owed funds into equity are a common mechanism for settling obligations and aligning interests in various industries.

Related Party Transactions

• The conversion of $100,000 of post-closing cash consideration owed to Aleksandar Milovanovic (a director and 10% owner) by Golden Matrix Group, Inc. into common stock constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively, signaling management's confidence and aligning their interests with long-term shareholder value.
• Creditors: The conversion of a cash obligation into equity reduces the company's cash outflow for that specific obligation, potentially improving short-term liquidity.

Key Dates

Recommendation

The conversion of owed cash into equity by a director and 10% owner is a positive indicator of insider confidence and alignment. While not a fresh cash investment, it strengthens the insider's stake. This action supports a 'hold' recommendation, suggesting that existing investors maintain their positions based on this signal of internal commitment, but it does not present new fundamental information that would warrant a 'buy' without further analysis of the company's broader financial health and strategic outlook.

Keywords

Golden Matrix Group, GMGI, Insider Transaction, Form 4, Stock Conversion, Beneficial Ownership, Director, 10% Owner, Voting Agreement