Golden Matrix Group, Inc. 8-K

What Happened
Golden Matrix Group, Inc. (GMGI) filed an 8-K announcing a 1-for-12 reverse stock split of its common stock and a corporate name change to Meridian Holdings Inc. The company filed a Certificate of Change and a Certificate of Amendment with the Nevada Secretary of State on February 26, 2026; both actions became effective March 3, 2026 at 12:01 a.m. ET. The reverse split was taken to meet Nasdaq’s $1.00 minimum bid price requirement after a deficiency notice; the Nasdaq compliance deadline was June 30, 2026.

Key Details

• Reverse split ratio: 1-for-12, effective March 3, 2026 at 12:01 a.m. ET.
• Shares: authorized common shares reduced from 300,000,000 to 25,000,000; issued and outstanding shares reduced from ~151.7M to ~12.6M.
• Ticker and CUSIP: trading symbol expected to change to MRDN at market open on March 3, 2026; new CUSIP 381098409.
• Fractional shares: no fractional shares will be issued; holders entitled to fractions will receive cash in lieu based on the prior trading day’s Nasdaq closing price.
• Equity adjustments: stock options, warrants and preferred conversion ratios will be adjusted proportionately (exercise prices increased inversely) to preserve aggregate values. Transfer agent: VStock Transfer, LLC.

Why It Matters
The reverse split is intended to raise the per-share trading price to regain compliance with Nasdaq’s $1.00 minimum bid rule and avoid potential delisting — a material listing risk for investors. The name change to Meridian Holdings Inc. signals the company’s focus as a holding company for MeridianBet-related operations. For shareholders, percentage ownership and voting power remain essentially unchanged (aside from cash paid for fractional shares), but the share count, ticker and CUSIP have changed and all equity awards and convertible instruments have been adjusted to reflect the split. No stockholder approval was required for these actions under Nevada law.