Form 4: Golden Matrix Group Insider Buys Shares, Remains Part of Voting Group

Aleksandar Milovanovic, a member of a 10% reporting group, purchased 2,514 shares of Golden Matrix Group, Inc. at $1.97 per share.

Summary

• On March 4, 2025, Aleksandar Milovanovic purchased 2,514 shares of Golden Matrix Group, Inc. common stock at a price of $1.97 per share.
• Following the transaction, Milovanovic directly owns 79,164,552 shares of common stock.
• Milovanovic is part of a voting agreement with other parties, including Anthony Brian Goodman (CEO of Golden Matrix Group), Luxor Capital LLC, Zoran Milosevic, and Snezana Bozovic.
• This group collectively owns more than 10% of the outstanding shares of common stock of the Issuer.
• Milovanovic disclaims beneficial ownership of securities owned by other members of the voting agreement and states that the Form 4 filing should not be considered an admission of being part of a 'group' for Section 13(d) purposes.
• Milovanovic also states that he does not have any pecuniary interest in any of the securities beneficially owned by any of the other signatories to the Voting Agreement.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports a transaction and clarifies the reporting person's relationship to the company.

Risks

• The voting agreement could potentially lead to concentrated control and influence over the company's decisions.
• The disclaimer of beneficial ownership by Milovanovic regarding other members' shares could be subject to legal interpretation.

Industry Context

Insider trading activity and beneficial ownership disclosures are standard regulatory filings that provide transparency into the actions of company insiders and major shareholders. Voting agreements are common mechanisms for shareholders to coordinate their voting power.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for company insiders under Section 16(a) of the Securities Exchange Act of 1934.
• The disclosure of a voting agreement is consistent with best practices for transparency and corporate governance.
• Comparable companies in the gaming and entertainment industry also have similar insider trading and beneficial ownership reporting requirements.

Key Dates