10-Q/A: Golden Matrix Group Files Amended Quarterly Report Due to XBRL Tagging Omission

Golden Matrix Group files an amendment to its Q3 2024 quarterly report to include required XBRL tagging, with certifications from the CEO and CFO.

Summary

• Golden Matrix Group, Inc. filed an amendment (No. 1) to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.
• The original filing on November 12, 2024, lacked certain required XBRL tagging.
• This amendment solely addresses the inclusion of the missing XBRL tagging under Item 5.
• The amendment includes restated Item 5 and new certifications from the principal executive officer and principal financial officer.
• As of November 12, 2024, there were 128,902,717 shares of the registrant's $0.00001 par value common stock issued and outstanding.

Sentiment

Score: 7

Explanation: The sentiment is neutral. The document is a correction of a technical error, and the certifications indicate confidence in the accuracy of the report.

Positives

• The company promptly addressed the omission of XBRL tagging by filing an amendment to the original 10-Q report.

Negatives

• The original quarterly report (Form 10-Q) filed on November 12, 2024, was deficient due to the omission of required XBRL tagging.

Risks

• Failure to comply with SEC reporting requirements, such as XBRL tagging, can lead to regulatory scrutiny and potential penalties.

Management Comments

• Anthony Brian Goodman, Chief Executive Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
• Rich Christensen, Chief Financial Officer, certified that the report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

Industry Context

The filing of amended reports to correct XBRL tagging errors is a relatively common occurrence, reflecting the complexities of financial reporting and the importance of adhering to SEC guidelines.

Comparison to Industry Standards

• It's difficult to compare this specific XBRL amendment to industry standards as it is a corrective action.
• However, companies like DraftKings, Flutter Entertainment, and Entain PLC are expected to have accurate and timely financial reporting, including XBRL tagging, as a baseline expectation.

Stakeholder Impact

• The amendment ensures that stakeholders have access to fully compliant financial information.

Key Dates

Keywords

XBRL, 10-Q/A, Amendment, Golden Matrix Group, Financial Reporting, SEC Filing