NATURE OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
Oct. 31, 2021
NATURE OF BUSINESS AND BASIS OF PRESENTATION
NOTE 1 - NATURE OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION Golden Matrix Group, Inc. (“GMGI” or “Company”) was incorporated in the State of Nevada on June 4, 2008, under the name Ibex Resources Corp. The Company’s business at the time was mining and exploration of mineral properties. On September 15, 2009, the Company changed its name to Source Gold Corp. in order to reflect the focus of the Company. In April 2016, the Company changed its name to Golden Matrix Group, Inc., reflecting the changing direction of the Company’s business to software technology. GMGI has a global presence with offices in Las Vegas, Nevada and Sydney, Australia. GMGI’s sophisticated social gaming software supports multiple languages including English and Chinese. On May 12, 2020, the Board of Directors approved a change in the Company’s fiscal year from July 31 to January 31, effective as of the same date. On October 29, 2021, the Board of Directors approved a change in the Company’s fiscal year from January 31 to October 31, effective as of the same date. Accordingly, in addition to financial statements as of and for the transitional nine-months ended October 31, 2021, these financial statements contain information for the year ended January 31, 2021, the six-month transitional financial statements as of and for the period ending January 31, 2020 and the year ended July 31, 2019. Acquisition of GTG On December 22, 2020, the Company entered into a Share Purchase Agreement with Anthony Brian Goodman, the Company’s Chief Executive Officer and director, and the sole director and owner of Global Technology Group Pty Ltd, a company incorporated in Australia (“GTG”). Under the terms of the Share Purchase Agreement, Mr. Goodman agreed to sell 100% of the shares in GTG to the Company for a total of 85,000 Pounds Sterling (GBP or £). The assets and liabilities of GTG have been recorded at their historical cost basis at the acquisition date and are included in the Company’s consolidated financial statements. The acquisition of GTG closed on January 19, 2021, and on March 22, 2021, the Company paid Mr. Goodman $115,314 USD (equivalent to 85,000 GBP), for the acquisition of GTG. Henceforth, all references to the “Company” shall mean and include Golden Matrix Group, Inc. and its subsidiary, GTG, following the closing of the Share Purchase Agreement. The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (the “SEC”).

NATURE OF BUSINESS AND BASIS OF PRESENTATION

9 Months Ended

Oct. 31, 2021

NATURE OF BUSINESS AND BASIS OF PRESENTATION

NOTE 1 - NATURE OF BUSINESS AND BASIS OF PRESENTATION

NOTE 1 – NATURE OF BUSINESS AND BASIS OF PRESENTATION

Golden Matrix Group, Inc. (“GMGI” or “Company”) was incorporated in the State of Nevada on June 4, 2008, under the name Ibex Resources Corp. The Company’s business at the time was mining and exploration of mineral properties. On September 15, 2009, the Company changed its name to Source Gold Corp. in order to reflect the focus of the Company. In April 2016, the Company changed its name to Golden Matrix Group, Inc., reflecting the changing direction of the Company’s business to software technology. GMGI has a global presence with offices in Las Vegas, Nevada and Sydney, Australia. GMGI’s sophisticated social gaming software supports multiple languages including English and Chinese.

On May 12, 2020, the Board of Directors approved a change in the Company’s fiscal year from July 31 to January 31, effective as of the same date.

On October 29, 2021, the Board of Directors approved a change in the Company’s fiscal year from January 31 to October 31, effective as of the same date. Accordingly, in addition to financial statements as of and for the transitional nine-months ended October 31, 2021, these financial statements contain information for the year ended January 31, 2021, the six-month transitional financial statements as of and for the period ending January 31, 2020 and the year ended July 31, 2019.

Acquisition of GTG

On December 22, 2020, the Company entered into a Share Purchase Agreement with Anthony Brian Goodman, the Company’s Chief Executive Officer and director, and the sole director and owner of Global Technology Group Pty Ltd, a company incorporated in Australia (“GTG”). Under the terms of the Share Purchase Agreement, Mr. Goodman agreed to sell 100% of the shares in GTG to the Company for a total of 85,000 Pounds Sterling (GBP or £). The assets and liabilities of GTG have been recorded at their historical cost basis at the acquisition date and are included in the Company’s consolidated financial statements. The acquisition of GTG closed on January 19, 2021, and on March 22, 2021, the Company paid Mr. Goodman $115,314 USD (equivalent to 85,000 GBP), for the acquisition of GTG.

Henceforth, all references to the “Company” shall mean and include Golden Matrix Group, Inc. and its subsidiary, GTG, following the closing of the Share Purchase Agreement.

The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (the “SEC”).