Golden Matrix Group Inc. (GMGI)

[nbketz4]

Various revenues sources-not just dependent on 1 or 2 major customers-shows very good diversity, imo:


The increase of the revenue was primarily due to two factors:


On July 1, 2018, Red Label Technology Pty Ltd and the Company entered into a License Agreement. Red Label wished to license the use of the GMR System to support its B2B business. During the year ended July 31, 2019, Red Label Technology Pty Ltd contributed to 16% of the total revenue.


On July 1, 2018, Articulate Pty Ltd and the Company entered into an Addendum to License Agreement ( “Addendum”). Articulate requested that the Company provide system for usage in Malaysian Currency. The new market also contributed to 26% of the total revenue of this year.