10-K/A: Golden Matrix Group Files Amendment to 10-K, Addressing Omitted Disclosures and Executive Certifications

Golden Matrix Group, Inc. files an amendment to its annual report on Form 10-K to include previously omitted disclosures related to directors, executive compensation, security ownership, related transactions, and principal accountant fees.

Summary

• Golden Matrix Group, Inc. filed Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
• The amendment addresses omissions in Part III, Items 10, 11, 12, 13, and 14 of the original filing, concerning directors, executive compensation, security ownership, related transactions, and principal accountant fees and services.
• The company is filing new certifications of the principal executive officer and principal financial officer as exhibits to the amendment.
• The original Form 10-K omitted certain disclosures under Part III, Items 10, 11, 12, 13 and 14 of Form 10-K in reliance on General Instruction G(3) to Form 10-K.
• As of March 24, 2025, the registrant had 132,087,080 shares of its Common Stock, $0.00001 par value, outstanding (not including 918,375 shares of common stock that were issued upon settlement of Restricted Stock Units which vested upon the filing of the Annual Report on Form 10-K).

Sentiment

Score: 7

Explanation: The sentiment is neutral. The document is a regulatory filing addressing previous omissions, indicating a focus on compliance and transparency. There are no explicit positive or negative statements about the company's performance or future prospects.

Positives

• The company is addressing previous omissions in its annual report, providing more complete information to investors.
• The inclusion of executive certifications reinforces accountability.
• The company has taken steps to comply with SEC regulations by filing the amendment.

Negatives

• The original 10-K filing was incomplete, requiring an amendment.
• The company did not expect to file its definitive proxy statement for the 2025 annual meeting of its stockholders within 120 days of December 31, 2024.

Risks

• Failure to maintain compliance with SEC regulations could result in penalties or other adverse actions.
• Related party transactions, while disclosed, may present potential conflicts of interest.

Future Outlook

The document does not contain specific forward-looking statements beyond the intention to hold the next say-on-pay vote at the Company's 2025 annual meeting.

Management Comments

• 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.
• 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.

Industry Context

This filing is a routine compliance measure for publicly traded companies, ensuring transparency and adherence to regulatory requirements.

Comparison to Industry Standards

• The company's corporate governance practices, including the establishment of independent committees, align with Nasdaq listing requirements for smaller reporting companies.
• The company's compensation recovery and clawback policies are in line with the Sarbanes-Oxley Act and SEC rules.

Stakeholder Impact

• Shareholders benefit from the increased transparency and completeness of the company's financial reporting.
• Employees and executive officers are subject to the company's Code of Business Conduct and Ethics, promoting ethical behavior and compliance.

Key Dates

Keywords

Form 10-K/A, amendment, executive compensation, directors, security ownership, related transactions, corporate governance, financial reporting, Golden Matrix Group