Golden Matrix on Track to Record Fifth Consecutive Quarter of Rising Revenues
24 April 2019 - 11:38PM
InvestorsHub NewsWire
Golden Matrix on Track to Record Fifth
Consecutive Quarter of Rising Revenues Company Now Reviewing Strategic
Opportunities to Accelerate Growth
LAS VEGAS, NV -- April 24, 2019 -- InvestorsHub NewsWire --
Golden Matrix Group Inc. (OTCPK: GMGI), a technology-driven company
that designs and develops social gaming platforms, systems and
gaming content, today announced it expects revenues for the third
fiscal quarter ending April 30, 2019 to surpass revenues of
$713,542 reported in its second fiscal quarter ended January 31,
2019. This would make it the company’s fifth consecutive quarter of
rising revenues.
Golden Matrix also said it expects to report “solid
profitability” in the third fiscal quarter, with operating margins
similar to those achieved in the previous quarter. The company’s Q2
net income of $421,791 was 59% of revenues.
In addition, the company announced that management is now
reviewing certain strategic opportunities to expand its operating
base and enhance shareholder value. According to Golden Matrix CEO
Anthony Goodman, “This could result in a potential merger or
acquisition of new business lines that immediately generate added
revenues and higher earnings.”
Currently, Golden Matrix revenues are derived primarily from
licensing fees received from gaming operators located in the Asia
Pacific (APAC) region and integrated with the company’s
state-of-the-art GM-X platform.
“With steady growth in quarterly revenues and profits and a
healthy cash position, complemented by our GM-X platform and strong
relationships with some of the gaming industry’s key players,” said
Mr. Goodman, “Golden Matrix is now in an excellent position to
consider a program of corporate expansion. We are pleased with the
opportunities under consideration, and we will keep our
shareholders advised of developments as they occur.”
About Golden Matrix
Golden Matrix Group, based in Las Vegas NV, is an established
gaming technology company that develops and owns online gaming IP
and builds configurable and scalable white-label social gaming
platforms for its international customers, located primarily in the
Asia Pacific region. The gaming IP includes tools for marketing,
acquisition, retention and monetization of users. The company's
platform can be accessed through both desktop and mobile
applications.
Our sophisticated software automatically declines any gaming or
redemption requests from within the United States, in strict
compliance with current US law.
Forward-Looking Statements
This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, such as statements relating to financial results and plans
for future development activities and are thus prospective.
Forward-looking statements include all statements that are not
statements of historical fact regarding intent, belief or current
expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with the Company's business and finances in general,
including the ability to continue and manage its growth,
competition, global economic conditions and other factors discussed
in detail in the Company's periodic filings with the Security and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.
Connect with us:
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Golden Matrix Group Inc.
Tracy Wang
info@goldenmatrix.com
Tel: (702) 318-7548
www.goldenmatrix.com