Milovanovic Aleksandar 4
4 · Golden Matrix Group, Inc. · Filed Aug 28, 2024
Insider Transaction Report
Form 4
Milovanovic Aleksandar
10% OwnerOther
Transactions
- Purchase
Deferred Cash Convertible Promissory Note
2024-06-17$3000000.00/shFrom: 2024-06-17Exp: 2025-12-17→ Common Stock - Other
Common Stock
2024-06-17$3.00/sh+1,333,333$3,999,999→ 71,153,911 total
Footnotes (6)
- [F1]On June 17, 2024, the Issuer entered into a Debt Conversion Agreement with the Reporting Person pursuant to which the Reporting Person agreed to convert an aggregate of $4,000,000 owed by the Issuer to the Reporting Person into an aggregate of 1,333,333 shares of restricted common stock of the Company, based on a conversion price of $3.00 per share.
- [F2]Excludes shares of common stock relating to the voting group described below under "Remarks".
- [F3]The Deferred Cash Convertible Promissory Note ("Convertible Note"), is convertible into shares of common stock of the Issuer, at any time, from time to time, at the option of the Reporting Person, based on a conversion price, determined at the option of the Reporting Person of either (A) (i) the average closing sales price of the Issuer's common stock on the Nasdaq market over the thirty trading day period ending on the trading day immediately preceding the date of the conversion notice; (ii) minus a discount of 15%; or (B) $3.00, subject to a floor of $2.00 per share (the "Conversion Price").
- [F4]On June 17, 2024, the Reporting Person agreed to exchange $3 million owed to the Reporting Person by the Issuer into the $3,000,000 Convertible Note
- [F5]The maturity date of the Convertible Note is December 17, 2025.
- [F6]Represents the maximum number of shares of common stock of the Issuer issuable upon conversion of the Convertible Note, based on the Conversion Price.