Form 4: GMGI Insider Converts Cash Consideration to Stock

Aleksandar Milovanovic, a 10% owner of Golden Matrix Group, Inc., converted post-closing cash consideration into common stock and holds significant future conversion rights.

Summary

• Aleksandar Milovanovic, a Director and 10% owner of Golden Matrix Group, Inc. (GMGI), reported several transactions involving the conversion of post-closing cash consideration into common stock.
• On September 9, 2025, $100,000 of cash consideration was converted into 81,300 shares of common stock at a price of $1.23 per share.
• Also on September 9, 2025, another $100,000 of cash consideration was converted into 98,039 shares of common stock at a price of $1.02 per share.
• On September 12, 2025, $10,000 of cash consideration was converted into 99,009 shares of common stock at a price of $1.01 per share, based on the closing sales price.
• Following these transactions, Milovanovic directly beneficially owns 85,142,049 shares of common stock.
• The reporting person also holds Post-Closing Cash Consideration Conversion Rights for an additional $200,000, with automatic conversions scheduled for September 19, 2025, and September 26, 2025, each for $100,000.
• Milovanovic is part of a 'group' for Section 13(d) purposes due to an Amended and Restated Nominating and Voting Agreement dated January 29, 2025, but disclaims beneficial ownership of securities held by other group members.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive. While the transactions involve dilution, they represent an insider's conversion of a pre-existing obligation into equity, indicating continued alignment of interests. It's not a new capital raise but a settlement.

Positives

• The conversion of post-closing cash consideration into common stock demonstrates the reporting person's continued equity interest in Golden Matrix Group, Inc.
• The transactions settle a pre-existing obligation with equity, potentially reducing the company's cash outflow or future liability.

Negatives

• The issuance of new shares, even through conversion, results in a slight dilution for existing shareholders.
• The conversion prices varied, with some shares issued at $1.01 and $1.02, which could be perceived as a lower valuation compared to the $1.23 conversion.

Risks

• Future automatic conversions of an additional $200,000 of cash consideration into common stock on September 19, 2025, and September 26, 2025, will lead to further dilution for existing shareholders.
• The conversion price for future transactions is based on the closing sales price on the conversion date, exposing the value of the conversion to market volatility.

Future Outlook

The company has scheduled two additional automatic conversions of $100,000 each of post-closing cash consideration into common stock for September 19, 2025, and September 26, 2025. The conversion prices for these future transactions will be based on the closing sales price of the Issuer's common stock on those respective dates.

Industry Context

This filing primarily details an insider's equity transactions and does not provide information directly related to broader industry trends or competitive landscape. It reflects a pre-arranged settlement of an obligation rather than a strategic industry move.

Corporate Governance

Related Party Transactions

• The conversions of post-closing cash consideration into common stock involve Aleksandar Milovanovic, a Director and 10% owner, making these related-party transactions.

Stakeholder Impact

• Shareholders will experience minor dilution as new shares are issued to settle the post-closing cash consideration.
• The transactions formalize a significant insider's equity stake, potentially aligning management and shareholder interests.

Next Steps

• Automatic conversion of $100,000 of post-closing cash consideration into common stock on September 19, 2025.
• Automatic conversion of $100,000 of post-closing cash consideration into common stock on September 26, 2025.

Key Dates

Recommendation

The filing details an insider's conversion of post-closing cash consideration into common stock, which is a routine compliance disclosure. While insider share acquisition can be seen as a positive signal, these conversions are pre-arranged and do not reflect new capital injection or a change in fundamental business operations. The impact on the company's valuation or strategic direction is minimal, thus a 'hold' recommendation is appropriate as it doesn't present a strong buy or sell signal based solely on this filing.

Keywords

Golden Matrix Group, GMGI, Insider Transaction, Form 4, Stock Conversion, Beneficial Ownership, Aleksandar Milovanovic, Post-Closing Consideration, Equity, Voting Agreement