Golden Matrix Group, Inc., (PINK:GMGI) Has Gained 816.63%
For Our Platinum Members So Far. After A Record Revenue Quarter
And Ambitious Growth Plans, This May Only Be The Beginning.
Golden Matrix Group, Inc., (PINK:GMGI) has hit back-to-back new 52 week highs for our Platinum Members almost every month this year and just yesterday it happened once again, with a high of $4.41 and a close at $4.40. At the high of the day yesterday, GMGI gained a total 816.83% since it's initial release to our Platinum Members last year at just $.0024. As explained in our last public update on GMGI one and a half weeks ago, that percentage change at first glance should seem strange but the reason for that is that the company recently performed a 1 for 150 reverse split.
The original release price of GMGI to our Platinum Members at $.0024, when adjusted for the reverse split comes out to about $.4807634 which amounts to a total percentage gain of about 817.29%. To simplify this, we rounded the initial release price upward to $.481 which brings the total gain downward to just 816.83% for the sake of journalistic integrity and simplification. Regardless, it is clear that GMGI has continued to be yet another one of the very many successful picks that we have rolled out and it was been far from the last. So far in 2020 alone, our Platinum Members have seen their picks gain over 3,500% combined and we expect far more to come from here.
GMGI Is Almost No Longer A Penny Stock And Has Stated Intent To Up-List To NASDAQ:
At yesterday's closing price of $4.20, it may be odd to some, that we would say that GMGI is “almost” no longer a penny stock but that comes with good reason. What was once a penny stock when we released it at $.0024, thanks to the combined large gain and reverse split is now very close to $5. The literal definition of a penny stock classification is any stock trading at $5 and under, so GMGI has managed to come very close to shaking off the stigma of being a mere penny stock and for good reason.
The company has previously announced intent to up-list to a larger exchange such as the Nasdaq, a notion that was scoffed at by some traders that have become numb to the prospect of any penny stock that enacts a reverse split in order to move along the process of doing so. Their concern has to do with the long history of penny stocks that have utilized reverse splits just as a means of hastening dilution, thus selling their own companies into oblivion. While we previously detailed the increased risk of GMGI due to the reverse split, such a scenario has yet to become a concern with GMGI because the price has steadily increased since the completion of the reverse split, regularly hitting new 52 week highs. The company has also provided public statements pointing to their having no interest in selling, as the company has continued to report news of record growth.
GMGI Has Steadily Seen Quarter Over Quarter Record Revenue Growth And Is Heavily Profitable:
On August 11th 2020, GMGI released a news release showing that the company had achieved its first quarter of more than $1 million in revenue. To be more precise, Golden Matrix Group, Inc., announced total revenue for its second fiscal quarter ended on July 31st 2020, was $1,045,000. The full quarterly report is planned for release on or before the end of this month. This was the companies eighth consecutive quarter of profitability and a clear showcase of the fact that this company is growing rapidly. This growth, which we recognized very early on has managed to not only stay steady, but steadily increase at a remarkable rate, which suggests that there will likely be more back to back record revenue updates to come. Also mentioned within this recent news release, was the fact that GMGI's user base increased to 3.3 million registered users during that second fiscal quarter and as icing on the cake, there are another 20 new operators currently being added to its currently active list of 369 operator clients. Each new operator client yields revenue that can grow of its own accord. This means that every new operator client brings new revenue but even without adding any new operators, any current operator could potentially see massive growth within its own echo-system, yielding greater revenue. Every time that one new operator is added, this increases the potential for GMGI to have added a new operator that could see significant expansion. The cumulative effect of simultaneously adding new operators, while operators can independently see user expansion multiply within their own networks, is what has allowed GMGI to see such rapid revenue growth. This in itself is the often overlooked 'sauce' that has made many investors miss the true potential of GMGI.
The most telling commentary within this most recent press release from GMGI, was the companies CEO, Mr. Brian Goodman, saying this:
“Going forward, we expect the company’s market share in the APAC region to continue to grow; and the company is now positioned to expand operations globally and enter new gaming-related markets, which will significantly increase revenues and profitability later in 2020 and beyond.”
GMGI Recently Filed An Audited 10KT Report Showcasing Revenue Growth And Very Low Costs Of Operation. This Solidified The Companies Interest In Transparency, Swift Expansion, And The Fact That The Business Model Is A Hedge Within The Coronavirus Economy:
Prior to its recent news of a record quarter, GMGI had already recently set itself apart as one of the most transparent penny stocks on the OTC even though it currently still trades on the Pink Sheets Current tier. The company did this by filing a fully audited 10KT report that showed that in the six months ended on January 3rd 2020, the company achieved $1.7 million revenue with net profit of $966,000. This was made possible by the companies expenses within that time-frame only being $300,000. The low expenses were made possible by the company primarily operating online and this fact, especially amid the spreading coronavirus which has pushed greater need for businesses to operate online, has allowed for the overall growth to kick in at an accelerated rate.
We have also covered in extensive detail, the fact that GMGI's growth has also been particularly accelerated by the fact that GMGI had previously filed eight straight quarters of revenue growth with 51% of that revenue being recorded as net profit. This incredible balance sheet allowed GMGI to stockpile over $2 million in cash and have very little debt. The company has previously signified intent to utilize that stockpiled cash on hand to complete an acquisition that could add yet another arm of revenue to the company. The growing revenue is what has allowed this company to set itself apart as one of the strongest gainers among our prior penny stock picks that saw growth and it has continued to see that growth in price per share accelerate. Finally, the last thing that we will cover here, will be GMGI's plans to move into the E-Sports industry.
GMGI Seeks To Establish An E-Sports Gambling Platform. E-Sports Is A Rapidly Growing Industry That Has Taken On Increased Importance Amid The Coronavirus Pandemic:
In a recent update, we mentioned that GMGI has previously announced intent to use its cash reserves to acquire a revenue bearing company and also that GMGI has engaged multiple companies to work towards the launch of its own E-Sports betting platform.
A recent article in the NY Times went to show that GMGI's E-Sports betting interest is a move toward yet another powerful business model at the right time. The article showed that due to global changes that have come as a result of the widespread coronavirus pandemic, E-Sports is quickly expanding within the sports gambling industry. The article states that Marco Blume, trading director for Pinnacle, stated that since March 2020, E-Sports have become Pinnacle's top category with the largest amount of betting. It goes on to mention that e-sports gambling revenue globally, is expected to double this year to about $14 billion. If GMGI does indeed make good on its plan to up-list to Nasdaq, utilizes its cash reserves as planned in order to acquire a business that will immediately add a new wing of revenue to the company, launch its e-sports platform, and still continue to grow it's core business, the potential for its price per share to continue to grow exponentially is clear.
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