RELATED PARTY TRANSACTIONS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS | NOTE 17 – RELATED PARTY TRANSACTIONS
All related-party transactions have been recorded at the amount of consideration established and agreed to by the related parties.
Dividends Paid to the Meridian Sellers
For the three months ended June 30, 2025, and 2024, dividends paid to the former owners of MeridianBet Group are as follows:
For the six months ended June 30, 2025, and 2024, dividends paid to the owners are as follows:
Articulate Pty Ltd, 50% owned by Marla Goodman (wife of the Company’s Chief Executive Officer) and 50% owned by Mr. Goodman, the Company’s Chief Executive Officer
On April 1, 2024, following the Meridian Purchase, the Company assumed the License Agreement with Articulate, in which Articulate received a license from the Company to use the GM2 Asset technology and agreed to pay Golden Matrix a usage fee calculated as a certain percentage of the monthly content and software usage within the GM2 Asset system.
The License Agreement was mutually terminated, effective January 1, 2025.As of June 30, 2025, the amount receivable from Articulate was $132,072. Elray Resources Inc., Mr. Goodman, the Company’s CEO, serves as CEO & Director of Elray, and Ms. Feng, the Company’s COO, serves as Treasurer and Director of Elray.
On April 1, 2024, the Company assumed the Software License Agreement with Elray Resources, Inc. (“Elray”), in which the Company granted Elray a license for the use and further distribution of certain of Golden Matrix’s online games. The license provides Elray the right to use the online games solely for the purpose of running an online blockchain casino enterprise.
During the six months ended June 30, 2025, revenues from Elray were $13,907. As of June 30, 2025, the amount receivable from Elray was $13,648. There were no revenues received from Elray before April 1, 2024.
Top Level doo Serbia and Network System Development GMBH
The accounts receivable-related party from Top Level doo Serbia and Network System Development GMBH, amount to $298,979 and $317,125 as of June 30, 2025, and December 31, 2024, respectively with the largest amount due from Top Level d.o.o. Serbia in the amount of $294,341 and $288,157, separately. MeridianBet Group has no ownership interest or control in Top Level d.o.o. Serbia, but it does have common individual shareholders. |
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