2024 Q1 Form 10-K Financial Statement

#000147793224000230 Filed on January 17, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $11.84M $11.78M $44.17M
YoY Change 9.89% 23.06% 22.59%
Cost Of Revenue $8.469M $8.550M $34.31M
YoY Change 1.61% 14.67% 27.66%
Gross Profit $3.375M $3.231M $9.869M
YoY Change 38.16% 52.61% 7.71%
Gross Profit Margin 28.5% 27.42% 22.34%
Selling, General & Admin $3.096M $2.045M $10.40M
YoY Change 11.69% -46.39% 16.19%
% of Gross Profit 91.73% 63.3% 105.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $121.4K $121.3K $41.38K
YoY Change 1127.04% 12.55% 81.12%
% of Gross Profit 3.6% 3.75% 0.42%
Operating Expenses $3.096M $2.045M $10.40M
YoY Change 11.69% -46.41% 15.89%
Operating Profit $279.2K $1.186M -$526.2K
YoY Change -184.87% -169.77% -373.39%
Interest Expense $57.48K -$31.16K $12.40K
YoY Change 5659.52% -175.1%
% of Operating Profit 20.59% -2.63%
Other Income/Expense, Net $57.48K $36.80K
YoY Change 84.71% -86.4%
Pretax Income $336.7K $1.154M -$489.4K
YoY Change -213.05% -169.63% -205.69%
Income Tax $262.2K $384.2K $683.3K
% Of Pretax Income 77.87% 33.29%
Net Earnings $74.51K $770.2K -$1.173M
YoY Change -116.8% -142.44% 369.03%
Net Earnings / Revenue 0.63% 6.54% -2.65%
Basic Earnings Per Share $0.00 -$0.03
Diluted Earnings Per Share $0.00 $0.02 -$0.03
COMMON SHARES
Basic Shares Outstanding 36.25M shares 35.42M shares
Diluted Shares Outstanding 38.78M shares 35.42M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.29M $17.10M $17.10M
YoY Change 12.12% 14.39% 14.39%
Cash & Equivalents $17.29M $17.10M $17.10M
Short-Term Investments
Other Short-Term Assets $196.8K $155.2K $155.2K
YoY Change -40.77% 13.36% 13.36%
Inventory $2.377M $1.715M $1.715M
Prepaid Expenses $143.0K $103.3K
Receivables $4.328M $3.551M $3.883M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $24.19M $22.85M $22.85M
YoY Change 14.05% 18.48% 18.48%
LONG-TERM ASSETS
Property, Plant & Equipment $375.8K $46.45K $103.1K
YoY Change 378.87% -35.86% -53.78%
Goodwill $10.38M $10.38M
YoY Change 0.0% -0.68%
Intangibles $2.145M $2.245M
YoY Change -16.48% -13.88%
Long-Term Investments
YoY Change
Other Assets $17.86K
YoY Change
Total Long-Term Assets $12.90M $12.73M $12.73M
YoY Change -2.02% -4.16% -4.16%
TOTAL ASSETS
Total Short-Term Assets $24.19M $22.85M $22.85M
Total Long-Term Assets $12.90M $12.73M $12.73M
Total Assets $37.10M $35.58M $35.58M
YoY Change 7.89% 9.25% 9.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.866M $2.848M $2.848M
YoY Change 36.58% 105.59% 105.59%
Accrued Expenses $745.7K $535.7K $535.7K
YoY Change 23.76% 27.74% 27.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $4.693M $4.479M $4.479M
YoY Change 22.57% 64.98% 64.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $257.1K $0.00 $0.00
YoY Change 581.37% -100.0% -100.0%
Total Long-Term Liabilities $257.1K $0.00 $0.00
YoY Change 581.31% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.693M $4.479M $4.479M
Total Long-Term Liabilities $257.1K $0.00 $0.00
Total Liabilities $4.950M $4.479M $4.479M
YoY Change 28.03% 61.42% -22.42%
SHAREHOLDERS EQUITY
Retained Earnings -$25.77M -$25.85M
YoY Change 2.61% 4.75%
Common Stock $366.00 $362.00
YoY Change 1.39% 28.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $32.32K $32.32K
YoY Change
Treasury Stock Shares
Shareholders Equity $32.15M $31.10M $31.10M
YoY Change
Total Liabilities & Shareholders Equity $37.10M $35.58M $35.58M
YoY Change 7.89% 9.25% 9.25%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $74.51K $770.2K -$1.173M
YoY Change -116.8% -142.44% 369.03%
Depreciation, Depletion And Amortization $121.4K $121.3K $41.38K
YoY Change 1127.04% 12.55% 81.12%
Cash From Operating Activities $8.180K $1.146M $2.206M
YoY Change -97.96% 931.93% -20.39%
INVESTING ACTIVITIES
Capital Expenditures $1.510K -$4.040K $12.47K
YoY Change -97.52% -101.83% -96.7%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.510K $4.040K -$95.96K
YoY Change -97.52% -100.45% -97.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.32K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.320K -$32.32K
YoY Change -201.01%
NET CHANGE
Cash From Operating Activities 8.180K 1.146M $2.206M
Cash From Investing Activities -1.510K 4.040K -$95.96K
Cash From Financing Activities -2.320K -$32.32K
Net Change In Cash 6.670K 1.148M $2.151M
YoY Change -98.59% -244.36% -216.38%
FREE CASH FLOW
Cash From Operating Activities $8.180K $1.146M $2.206M
Capital Expenditures $1.510K -$4.040K $12.47K
Free Cash Flow $6.670K $1.150M $2.194M
YoY Change -98.04% -1149.55% -8.32%

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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 gmgi Stock Issued During Period Value Stock Option Exercised
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CY2022 gmgi Acquisition Of Shares Of Rkings
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CY2022 gmgi Intangible Asset Written Down
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CY2023 gmgi Adjustment To Non Controlling Interest
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CY2022 gmgi Adjustment To Non Controlling Interest
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CY2023 gmgi Scheduleofprinciplesofconsolidation
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<table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Name</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:20%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Place of Organization</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:15%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Ownership</strong></p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Global Technology Group Pty Ltd</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Sydney, New South Wales, Australia</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">100% Owned</p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">RKingsCompetitions Ltd</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Northern Ireland</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">100% Owned</p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Golden Matrix MX, S.A. DE C.V.  </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Mexico</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">99.99% Owned</p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">GMG Assets Limited</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Northern Ireland</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">100% Owned</p></td></tr></tbody></table>
CY2023 us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 33.75pt; text-align:justify;">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include contingent liability, stock-based compensation, warrant valuation, accrued expenses and collectability of accounts receivable. The Company evaluates its estimates on an on-going basis and bases its estimates on historical experience and on various other assumptions the Company believes to be reasonable. Due to inherent uncertainties, actual results could differ from those estimates.</p>
CY2022 gmgi Cost Of Goods Sold Percentage
CostOfGoodsSoldPercentage
1 pure
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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132588 usd
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-204027 usd
CY2023 us-gaap Foreign Currency Transaction Gain Before Tax
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CY2022 us-gaap Foreign Currency Transaction Gain Before Tax
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261395 usd
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023 us-gaap Development Costs
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CY2022 us-gaap Development Costs
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CY2023 gmgi Rkings Trademarks And Non Compete Agreementspolicy
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; TEXT-INDENT: 0.5in; text-align:justify;">In connection with the acquisition of RKingsCompetition, Ltd, the Company recognized the definite-lived intangible assets consisting of $2,000,000 of trademarks and $600,000 of non-compete agreements. The trademark for RKings is amortized over 10 years and the non-compete agreements are amortized over 5 years. </p>
CY2023 gmgi Amortization Expense
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439933 usd
CY2022 gmgi Amortization Expense
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384588 usd
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1714525 usd
CY2022Q4 us-gaap Inventory Net
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1147591 usd
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46447 usd
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CY2023Q4 us-gaap Deferred Tax Liabilities
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18819 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
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476485 usd
CY2022Q4 us-gaap Accrued Income Taxes
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324147 usd
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28042001 shares
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35420696 shares
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331246 usd
CY2022Q4 gmgi Related Party Transaction Amounts Of Transaction Accounts Receivable
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413714 usd
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CY2022Q4 us-gaap Prepaid Expense Current
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CY2022Q4 gmgi Prepayment For The Gaming License Fee
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8744 usd
CY2023Q4 gmgi Prepaid Payroll Expense
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4414 usd
CY2022Q4 gmgi Prepaid Payroll Expense
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5472 usd
CY2023Q4 us-gaap Prepaid Expense Current
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103271 usd
CY2022Q4 us-gaap Prepaid Expense Current
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84372 usd
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CY2023Q4 us-gaap Operating Lease Liability Current
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59089 usd
CY2022Q4 us-gaap Operating Lease Liability Current
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95085 usd
CY2023Q4 gmgi Cash Payment
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4099500 usd
CY2023Q4 gmgi Restricted Shares Stock Issued
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666250 shares
CY2023Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
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0.20 pure
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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2634386 usd
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661773 usd
CY2022Q4 gmgi Restricted Shares Stock Issued
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82722 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
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8.00
CY2022Q4 gmgi Aggregate Shares Of Common Stock
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165444 shares
CY2022Q4 us-gaap Variable Interest Entity Ownership Percentage
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1 pure
CY2023Q4 us-gaap Property Plant And Equipment Gross
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120119 usd
CY2023 us-gaap Capitalized Computer Software Additions
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0 usd
CY2022 us-gaap Capitalized Computer Software Additions
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83938 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
439933 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
384588 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-863758 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-422479 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3109099 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2245341 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2607075 usd
CY2023Q4 gmgi Related Party Transaction Amounts Of Transaction Accounts Payable
RelatedPartyTransactionAmountsOfTransactionAccountsPayable
12921 usd
CY2022Q4 gmgi Related Party Transaction Amounts Of Transaction Accounts Payable
RelatedPartyTransactionAmountsOfTransactionAccountsPayable
10637 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
348620 usd
CY2022Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
109328 usd
CY2020Q4 gmgi Accounts Payable To Articulate
AccountsPayableToArticulate
410045 usd
CY2020Q4 gmgi Accounts Receivable From Articulate
AccountsReceivableFromArticulate
1456326 usd
CY2020Q4 gmgi Accounts Receivable From Articulate
AccountsReceivableFromArticulate
1046280 usd
CY2020Q4 gmgi Company And Articulate Agreement Description
CompanyAndArticulateAgreementDescription
agreed to reduce $500,000 of amounts owed by the Company to Hopestar, Articulate agreed to offer Hopestar $500,000 of gaming credits for alternative content (i.e., games distributed by companies other than Playtech), and Articulate agreed to reduce $500,000 of amounts owed by the Company to Articulate
CY2021Q1 gmgi Prepaid Deposit
PrepaidDeposit
43569 usd
CY2021Q1 gmgi Accounts Payable To Articulate
AccountsPayableToArticulate
43569 usd
CY2021Q3 gmgi Accounts Payable To Articulate
AccountsPayableToArticulate
42464 usd
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36162932 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28182575 shares
CY2021Q4 gmgi Common Stock Shares Amendment Description
CommonStockSharesAmendmentDescription
the Company filed a Certificate of Amendment to the Company’s Articles of Incorporation, with the Secretary of State of Nevada, to increase the Company’s authorized number of shares of Common Stock from forty million (40,000,000) shares to two hundred and fifty million (250,000,000) shares and to restate Article 3, Capital Stock thereof, to reflect such amendment, and clarify the Board of Director’s ability to designate and issue ‘blank check’ preferred stock
CY2023Q2 gmgi Restricted Shares Of Common Stock Vested
RestrictedSharesOfCommonStockVested
100000 shares
CY2023Q2 gmgi Exercise Prices
ExercisePrices
1.74
CY2023Q2 us-gaap Officers Compensation
OfficersCompensation
90230 usd
CY2023 gmgi Stock Granted During Period Value Sharebased Compensations Gross
StockGrantedDuringPeriodValueSharebasedCompensationsGross
83334 usd
CY2023 us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
571311 usd
us-gaap Stock Granted During Period Value Sharebased Compensation Gross
StockGrantedDuringPeriodValueSharebasedCompensationGross
568957 usd
CY2022Q4 gmgi Outstanding Options Beginning Balance
OutstandingOptionsBeginningBalance
8426666 shares
CY2022Q4 gmgi Weighted Average Exercise Price Beginning Balance
WeightedAverageExercisePriceBeginningBalance
0.50
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
83334 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
6.64
CY2023 gmgi Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriod
-7333332 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.07
CY2023Q4 gmgi Outstanding Options Ending Balance
OutstandingOptionsEndingBalance
1010000 shares
CY2023Q4 gmgi Weighted Average Exercise Price Ending Balance
WeightedAverageExercisePriceEndingBalance
3.14
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
920000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.93
CY2022Q3 gmgi Aggregate Restricted Units
AggregateRestrictedUnits
1575000 shares
CY2023 gmgi Schedule Of Grant Of Restricted Stock Units To Management And The Independent Directors Related Parties
ScheduleOfGrantOfRestrictedStockUnitsToManagementAndTheIndependentDirectorsRelatedParties
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Recipient</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Position with Company</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Number of RSUs</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="width:20%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Anthony Brian Goodman</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">President, Chief Executive Officer (Principal Executive Officer), Secretary, Treasurer, and Chairman of the Board of Directors</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">750,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Weiting ‘Cathy’ Feng </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Chief Operating Officer and Director of the Company</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">375,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Murray G. Smith </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Independent Director</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">150,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Aaron Richard Johnston</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Former Independent Director</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;">150,000</td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Thomas E. McChesney</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">Independent Director</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;text-align:right;">150,000</td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="vertical-align:bottom;text-align:right;"><strong>1,575,000</strong></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2023 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1575000 shares
CY2023 gmgi Schedule Of Performance Metrics Scheduletabletextblock
ScheduleOfPerformanceMetricsScheduletabletextblock
<table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="5" style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Revenue Targets</strong></p></td><td colspan="6" style="BORDER-BOTTOM: #000000 1px solid;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Adjusted EBITDA Targets</strong></p></td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;width:32%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Performance Period</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:15%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Target Goal</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:15%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>RSUs Vested</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:15%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Target Goal</strong></p></td><td style="width:2%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:15%;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>RSUs Vested</strong></p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Year ended October 31, 2022</p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"> $</p></td><td colspan="2" style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"> 21,875,000</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">*</p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"> $</p></td><td colspan="2" style="vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">3,250,000</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Year ended October 31, 2023</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">$39,638,342 (which equals FY 2022 revenue x 1.1)</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">*</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">$3,879,197(which equals FY 2022 Adjusted EBITDA x 1.1)</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">*</p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Year ended October 31, 2024</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">FY 2023 x 1.1</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">*</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td colspan="2"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">FY 2023 x 1.1</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">*</p></td></tr></tbody></table>
CY2022Q4 gmgi Restricted Shares Of Common Stock Vested
RestrictedSharesOfCommonStockVested
100000 shares
CY2023Q4 gmgi Restricted Stock Outstanding
RestrictedStockOutstanding
2082000 shares
CY2022Q4 gmgi Restricted Stock Outstanding
RestrictedStockOutstanding
1581000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1581000 shares
CY2023 gmgi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsIssuedInPeriod
1218400 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
114400 shares
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
603000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2082000 shares
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2000000 shares
CY2023 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
14594 shares
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
32322 usd
CY2023 us-gaap Revenues
Revenues
44174052 usd
CY2023 gmgi Revenue Percentage Of Total Revenue
RevenuePercentageOfTotalRevenue
1 pure
CY2022 us-gaap Revenues
Revenues
36034856 usd
CY2022 gmgi Revenue Percentage Of Total Revenue
RevenuePercentageOfTotalRevenue
1 pure
CY2023 us-gaap Revenues
Revenues
44174052 usd
CY2023 gmgi Revenue Percentage Of Total Revenue
RevenuePercentageOfTotalRevenue
1 pure
CY2022 us-gaap Revenues
Revenues
36034856 usd
CY2022 gmgi Revenue Percentage Of Total Revenue
RevenuePercentageOfTotalRevenue
1 pure
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
34305181 usd
CY2023 gmgi Cost Of Goods Sold Percentage
CostOfGoodsSoldPercentage
1 pure
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26872229 usd
CY2022 gmgi Cost Of Goods Sold Percentage
CostOfGoodsSoldPercentage
1 pure
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
34305181 usd
CY2023 gmgi Cost Of Goods Sold Percentage
CostOfGoodsSoldPercentage
1 pure
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26872229 usd
CY2023 gmgi Operating Profit Loss
OperatingProfitLoss
489444 usd
CY2022 gmgi Operating Profit Loss
OperatingProfitLoss
-463077 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 gmgi Deferred Tax Liability Attributable To Net Operating Loss Carry Forwards
DeferredTaxLiabilityAttributableToNetOperatingLossCarryForwards
102783 usd
CY2022 gmgi Deferred Tax Liability Attributable To Net Operating Loss Carry Forwards
DeferredTaxLiabilityAttributableToNetOperatingLossCarryForwards
-97246 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
102783 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
97246 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1108302 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1205548 usd
CY2023Q4 gmgi Tax Benefit
TaxBenefit
1211085 usd
CY2022Q4 gmgi Tax Benefit
TaxBenefit
1108302 usd
CY2023Q4 gmgi Deferred Tax Assets Valuation Allowances
DeferredTaxAssetsValuationAllowances
-1211085 usd
CY2022Q4 gmgi Deferred Tax Assets Valuation Allowances
DeferredTaxAssetsValuationAllowances
-1108302 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023Q4 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
683306 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
602628 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
602628 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
419049 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
549697 usd
CY2022 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
-147833 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
324147 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
683306 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
531746 usd
CY2023 us-gaap Income Tax Credits And Adjustments
IncomeTaxCreditsAndAdjustments
778 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
476485 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
476485 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
324147 usd

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
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