Core Viewpoint - Aleksandar Milovanović, founder and largest shareholder of Meridianbet, has converted $8 million of cash consideration into equity, reinforcing Golden Matrix's balance sheet and signaling confidence in its long-term growth trajectory [1][3]. Financial Impact - The conversion involved Mr. Milovanović exchanging $8 million of 18-Month Non-Contingent Post-Closing Cash Consideration for 8 million shares of Golden Matrix common stock at a price of $1.00 per share [2]. - This debt-to-equity conversion significantly improves Golden Matrix's financial position by eliminating $8 million in near-term cash obligations, preserving capital for growth initiatives and operational expansion [8]. Strategic Significance - Mr. Milovanović's decision to increase his equity stake rather than receive cash aligns his interests with public shareholders, indicating strong belief in the company's value creation potential [3][4]. - Following the transaction, Mr. Milovanović owns approximately 93.3 million shares of Golden Matrix, solidifying his role as a significant long-term stakeholder [4]. Company Overview - Meridianbet Group, established in 2001, operates in 18 jurisdictions across Europe, Africa, and South America, utilizing proprietary technology for its online sports betting and gaming operations [5]. - Golden Matrix Group, based in Las Vegas, NV, is a B2B and B2C gaming technology company, developing proprietary gaming platforms and operating an online casino in Mexico [6].