Golden Matrix Group (NASDAQ: GMGI) has announced the restart of its previously announced share repurchase program, with approximately $4.958 million available for buybacks. This decision comes as the company's stock has declined 20.63% over the past month.

The Las Vegas-based gaming platform developer, currently trading at around $2 per share, could potentially reduce its outstanding shares by nearly 2.5 million through this buyback program. Company insiders hold 85% of the total 129,242,993 outstanding shares.

Financial Strength and Market Position:

• Market capitalization: $255.23 million
• Cash reserves: $38.4 million
• Long-term debt: $17.5 million
• Strong balance sheet with cash more than double the debt

CEO Brian Goodman reported that all operating units are performing at or above expectations, with strong growth projected for the current quarter. The company operates through:

• B2B division: Developing and licensing proprietary gaming platforms
• Meridianbet unit: Providing sports wagering services in 18 jurisdictions

Expansion Plans:

• Pursuing licenses in Brazil and Ontario, Canada
• Brazilian market entry identified as potentially transformative
• Q3 performance showed 85% profit growth and 39% sales increase

The company maintains flexibility in its buyback program, with the board having discretion to modify or suspend the plan as needed. Management's decision to restart the program suggests confidence in the company's value following recent stock weakness.

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