Golden matrix reports record revenues for first fiscal quarter ended april 30, 2021

Company achieves 11th consecutive quarter of profitability • record revenues (q1 '22) of $2,639,402, an increase of 259% compared to revenues of $734,764 in the year-ago quarter, and a 35% improvement on revenues of $1,951,406 in the prior (q4 '21) quarter • net income of $127,872 versus net income of $52,158 in q4 '21 • adjusted ebitda of $663,311, when excluding interest expense, interest income, amortization expense and stock-based compensation expense* • cash and cash equivalents of $11,750,489, and total assets of $15,162,029, as of april 30, 2021 • total current liabilities of $1,241,070, and no long-term liabilities as of april 30, 2021 • company acquires fully functional seamless aggregation platform, which positions gmgi for entry into multiple new markets with gaming operators worldwide las vegas, nv / accesswire / june 9, 2021 / golden matrix group inc. (otc pink:gmgi), a developer and licensor of online gaming platforms, systems and gaming content, today reported that it achieved record revenues exceeding $2.6 million and its eleventh consecutive quarter of profitability in the first fiscal quarter ended april 30, 2021. the company said acceleration in total q1 revenues was a result of strong revenue contributions from non-related-party distributors, which also accounted for an increase in cost of goods sold and a decrease in gross profit margin.
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