Meridian Holdings Inc./NV
For the period ended Dec 31, 2024. Filed Mar 24, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 24, 2025
MRDN$6.24-23.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Golden Matrix Group, Inc. and Subsidiary | |||
|---|---|---|---|
| Consolidated Statements of Cash Flow | |||
| Twelve Months Ended | |||
| December 31, | |||
| 2024 · 2023 | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $(1,409,849) | $13,894,886 | |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Fair value of stock-based compensation | 4,707,313 | - | |
| Non-cash interest expense related to debt discount amortization | 2,157,607 | - | |
| Amortization of intangible assets | 6,373,696 | 1,898,027 | |
| Depreciation of property, plant and equipment | 4,416,495 | 3,519,083 | |
| Loss on valuation / impairment | - | (25,350) | |
| Bad debt expense | 1,358,147 | 304,358 | |
| Changes in operating assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (748,278) | (597,457) | |
| (Increase) decrease in accounts receivable – related party | 59,257 | 67,969 | |
| (Increase) decrease in taxes receivable | 263,148 | (17,347) | |
| (Increase) decrease in prepaid expenses | (349,387) | 171,854 | |
| (Increase) decrease in other current assets | (591,982) | (587,313) | |
| (Increase) decrease in inventories | (958,112) | (11,667) | |
| (Increase) decrease in deposits | (119,824) | (653,769) | |
| (Increase) decrease in other non-current assets | 95,705 | 31,901 | |
| Increase (decrease) in accounts payable and accrued liabilities | 4,337,364 | 3,617,968 | |
| Increase (decrease) in accounts payable – related party | (2,943) | 9,405 | |
| Increase (decrease) in taxes payable | (766,413) | 843,595 | |
| Increase (decrease) in deferred revenues | 33,585 | - | |
| Increase (decrease) in customer deposit | 1,564 | - | |
| Increase (decrease) in other current liabilities | 264,039 | 76,980 | |
| Increase (decrease) in due to shareholders | - | (137,114) | |
| Increase (decrease) in other liabilities | (823,607) | (556,447) | |
| Increase (decrease) in operating lease liabilities | 5,618,901 | 1,839,949 | |
| Net cash provided by operating activities | $23,916,426 | $23,689,511 | |
| Cash flows from investing activities: | |||
| Cash paid for intangible assets | (14,827,206) | (7,345,778) | |
| Cash paid for investments | 19,681 | 24,169 | |
| Cash paid for property, plant and equipment | (7,164,733) | (5,744,202) | |
| Cash paid for purchase of subsidiaries | (8,964,188) | - | |
| Cash distribution to former owners of MeridianBet Group in connection with the Purchase | (23,852,949) | - | |
| Cash assumed from acquisition with Golden Matrix | 17,355,360 | - | |
| Net cash used in investing activities | $(37,434,035) | $(13,065,811) | |
| Cash flows from financing activities: | |||
| Repayment on debt | (3,675,091) | - | |
| Proceeds from loans and borrowings | 25,972,500 | - | |
| Proceeds from sale of note and warrant | 8,747,556 | - | |
| Repayment of lease | (2,474,864) | (2,354,666) | |
| Payments of dividends | (769,534) | (1,798,959) | |
| Share repurchase | (123,101) | - | |
| Proceeds from option exercise | 34,800 | - | |
| Net cash provided by (used in) financing activities | $27,712,266 | $(4,153,625) | |
| Effect of exchange rate changes on cash | (4,474,009) | 825,774 | |
| Net increase in cash and cash equivalents | 9,720,648 | 7,295,849 | |
| Cash and cash equivalents at beginning of the year | 20,405,296 | 13,109,447 | |
| Cash and cash equivalents at end of the year | 30,125,944 | 20,405,296 | |
| Supplemental cash flows disclosures | |||
| Interest paid | $1,350,751 | $36,163 | |
| Tax paid | $3,918,277 | $1,994,470 | |
| Non-cash financing activities | |||
| Debt conversion | $4,425,000 | $ | - |
| Acquisition of minority interest | $7,172,504 | $ | - |
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