Golden Matrix Group Inc
For the period ended Oct 31, 2023. Filed Jan 17, 2024.
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FY2023 · Filed Jan 17, 2024
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K (this “Report”) contains forward-looking statements, including within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our industry, our beliefs and our assumptions. Words such as “anticipate,” “expects,” “intends,” “plans,” “believes,” “seeks” and “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to:
| · | our need for significant additional financing to grow and expand our operations, the availability and the terms of such financing, and potential dilution which may be caused by the availability of such financing, if obtained through the sale of equity or convertible securities; |
| · | dilution caused by the conversion of outstanding preferred stock, and/or acquisitions; |
| · | the Company’s ability to complete acquisitions, including the pending acquisition of the Meridian Companies (as defined below), and the available funding for such acquisitions; and disruptions caused by acquisitions, including the pending Meridian Acquisition, changes of control in connection with the Meridian Acquisition and other risks associated therewith; |
| · | the reliance on suppliers of third-party gaming content and the cost of such content; |
| · | the ability of the Company to obtain additional gaming licenses; |
| · | the Company’s ability to maintain the listing of its common stock on the Nasdaq Capital Market; |
| · | the ability of the Company to manage growth; |
| · | the Company’s expectations for future growth, revenues, and profitability; |
| · | the Company’s expectations regarding future plans and timing thereof; |
| · | the Company’s reliance on its management; |
| · | the fact that the Company’s Chief Executive Officer has voting control over the Company; |
| · | related party relationships as well as conflicts of interest related thereto; |
| · | the potential effect of economic downturns, recessions, changes in interest rates and inflation, and market conditions, including recessions, decreases in discretionary spending and therefore demand for our products, and increases in the cost of capital, related thereto, among other affects thereof, on the Company’s operations and prospects as a result of increased inflation, increasing interest rates, global conflicts and other events; |
| · | the Company’s ability to protect proprietary information; |
| · | the ability of the Company to compete in its market; |
| · | the effect of current and future regulation, the Company’s ability to comply with regulations (both current and future) and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; |
| · | the risks associated with gaming fraud, user cheating and cyber-attacks; |
| · | risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely, as well as cybersecurity and hacking risks; |
| · | risks relating to inventory management; |
| · | foreign exchange and currency risks; |
| · | the outcome of contingencies, including legal proceedings in the normal course of business; |
| · | the ability to compete against existing and new competitors; |
| · | the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and |
| · | general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. |
These statements are not guarantees of future performance or results. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Report. These factors include those set forth below under “Item 1A. Risk Factors”, below.
You should read the matters described in “Item 1A. Risk Factors” and the other cautionary statements made in this Report, and incorporated by reference herein, as being applicable to all related forward-looking statements wherever they appear in this Report. We cannot assure you that the forward-looking statements in this Report will prove to be accurate and therefore prospective investors are encouraged not to place undue reliance on forward-looking statements. Other than as required by law, we undertake no obligation to update or revise these forward-looking statements, even though our situation may change in the future.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.