Golden Matrix Group, a developer of online gaming platforms, has announced the restart of its share repurchase program with approximately $4.958 million available for buybacks. This decision comes as the stock has declined 20.63% over the past month.

With shares trading around $2, the company could potentially reduce its outstanding shares by nearly 2.5 million through the buyback program. Company insiders currently hold 85% of the 129,242,993 outstanding shares.

The company maintains a strong financial position with $38.4 million in cash and $17.5 million in long-term debt. CEO Brian Goodman reports that all operating units are performing at or above expectations, with strong growth projected for the current quarter.

Golden Matrix operates through two main segments:

• Business-to-business: Developing and licensing proprietary gaming platforms
• Meridianbet: Providing sports wagering services across 18 jurisdictions

The company is actively pursuing expansion opportunities, including:

• License applications in Brazil and Ontario, Canada
• Third-quarter results showing 85% profit growth and 39% sales growth
• Enhanced liquidity measures

CEO Goodman emphasized the potential impact of the Brazilian market, describing it as a "transformative opportunity" in one of the world's fastest-growing gaming markets.

The buyback program will be executed through open market purchases, with the board maintaining discretion to modify or suspend the plan as needed.

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