Business Context and Reporting Period
This Form 8-K is filed by Golden Matrix Group, Inc. (not Meridian Holdings Inc.) for the reporting date of December 31, 2025. The company is incorporated in Nevada and its common stock (Symbol: GMGI) trades on The NASDAQ Capital Market.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock listing standards.
Material Changes
On December 31, 2025, the Company received a Notification Letter from Nasdaq stating it is not in compliance with Nasdaq Listing Rule 5550(a)(2) regarding the minimum bid price requirement of $1.00 per share. This deficiency occurred because the closing bid price remained below $1.00 for 34 consecutive business days (November 11, 2025, to December 30, 2025).
Outlook, Risks, and Management Commentary
- Compliance Period: The Company has 180 calendar days, until June 30, 2026, to regain compliance.
- Remediation Requirement: To comply, the stock must maintain a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days.
- Secondary Compliance Period: If the Company fails to comply by June 30, 2026, it may be granted an additional 180 days if it meets initial listing criteria and notifies Nasdaq of its intent to cure the deficiency, potentially via a reverse stock split.
- Delisting Risk: Failure to regain compliance during the second period will result in delisting, subject to an appeal process.
- Management Action: Management intends to monitor the bid price and may consider available options, including a reverse stock split, to regain compliance.
Investor Verification Checklist
- Verify the current trading price of GMGI to assess the gap from the $1.00 threshold.
- Monitor upcoming announcements regarding a potential reverse stock split.
- Check for any subsequent 8-K filings confirming the 10-day compliance window or the initiation of a second compliance period.
- Confirm the company's status on the NASDAQ Capital Market to ensure no immediate suspension has occurred.