RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| 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.
Articulate Pty Ltd, 50% owned by Marla Goodman (wife of the Company’s former Chief Executive Officer) and 50% owned by Mr. Goodman, the Company’s former Chief Executive Officer
On April 1, 2024, following the MeridianBet Acquisition, the Company assumed a March 1, 2018 License Agreement between Articulate and Golden Matrix, 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 March 31, 2026 and December 31, 2025, the amount receivable from Articulate was $132,072 and $132,072, respectively.
Elray Resources Inc., Mr. Goodman, the Company’s former 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 a December 7, 2022, Software License Agreement between Golden Matrix and 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 three months ended March 31, 2026, and 2025, revenues from Elray were $38,077 and $1,036, respectively. As of March 31, 2026 and December 31, 2025, the amount receivable from Elray was $79,758 and $40,508, respectively.
Top Level doo Serbia and Ino Network
The accounts receivable-related party from Top Level doo Serbia and Ino Network, amounts to $264,880 and $274,873 as of March 31, 2026, and December 31, 2025, respectively with the largest amount due from Top Level d.o.o. Serbia in the amount of $257,901 and $270,226, separately. MeridianBet Group has no ownership interest or control in Top Level d.o.o. Serbia, but it does have common individual shareholders. |