DEFR14A: Golden Matrix Group Sets Date for 2024 Annual Stockholders Meeting, Outlines Key Proposals

Golden Matrix Group announces its 2024 annual meeting of stockholders to be held on October 7, 2024, to vote on director appointments and auditor ratification.

Summary

• Golden Matrix Group, Inc. will hold its 2024 annual meeting of stockholders on October 7, 2024, in Las Vegas.
• Stockholders of record as of August 23, 2024, are entitled to vote.
• The meeting will address the election of four members to the Board of Directors for all voting shares and one member for Class C Preferred Stock only, each to serve until the 2025 annual meeting.
• Stockholders will also vote on the ratification of M&K CPAS, PLLC as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
• The Board of Directors recommends voting FOR the election of each director nominee and FOR the ratification of the auditor appointment.
• The company is utilizing the Securities and Exchange Commission rules that allow issuers to furnish proxy materials to their stockholders on the Internet.
• The company completed the acquisition of 100% of MeridianBet Group on April 9, 2024, which was accounted for as a reverse merger and recapitalization.
• The company changed its fiscal year end from October 31st to December 31st, to align with MeridianBet Group.

Sentiment

Score: 6

Explanation: The document is neutral in tone, primarily providing factual information about the upcoming annual meeting and related proposals. The inclusion of both positive and negative financial results contributes to a balanced sentiment.

Positives

• The Board of Directors is recommending a vote FOR all director nominees.
• The Board of Directors is recommending a vote FOR the ratification of the appointment of M&K CPAS, PLLC as the company's independent auditors.
• The company has taken steps to enhance corporate governance, including declassifying the Board of Directors and increasing the authorized number of shares of common stock.

Negatives

• The company had a net loss attributable to the Company of $(1,040,162) for fiscal 2023.
• The company's Adjusted EBITDA for the twelve months ended October 31, 2023, was $2,397,276, which did not meet the required performance metrics for certain restricted stock units to vest.

Risks

• The company's business results are subject to a variety of risks, including those reflected in the Risk Factors, Special Note Regarding Forward-Looking Statements and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings.
• The company is a controlled company under Nasdaq Marketplace Rules, which could reduce independent oversight.

Future Outlook

The document includes forward-looking statements about future events and circumstances, which are subject to uncertainty and risk.

Industry Context

The document does not provide specific details on how this announcement relates to broader industry trends or competitors.

Stakeholder Impact

• Shareholders are being asked to vote on key proposals that will shape the direction and oversight of the company.
• Employees may be affected by changes in executive compensation and company performance.
• The company's performance and governance decisions can impact its relationships with customers, suppliers, and creditors.

Next Steps

• Stockholders are encouraged to vote via the Internet, by phone, or by returning a signed proxy card.
• The Company will publish the final voting results in a Current Report on Form 8-K within four business days following the Annual Meeting.

Key Dates

Keywords

Annual Meeting, Proxy Statement, Board of Directors, Stockholders, Director Election, Auditor Ratification, Golden Matrix Group, MeridianBet Group, Corporate Governance, Executive Compensation