Business Booming for Golden Matrix Group Inc. (NASDAQ: GMGI) as Online Gambling Continues Growth in Popularity

 

• Data Bridge Market Research forecasts a 13.7% CAGR for the casino online gambling market to reach $144.74 billion in 2028
• Golden Matrix Group is demonstrating growth in both its B2B and B2C businesses, as it prepares to enter the Mexican markets
• GMGI revenue for the first nine months of fiscal 2022 was $26.46 million, up 237% from a year earlier, while the company notched its 16th consecutive profitable quarter

For decades, there was little substantial innovation in the gambling industry and then along came the miracle of the internet and changed everything with the emergence on online gaming. Still, most traditional casino operators were slow to embrace the digital opportunity until the COVID-19 pandemic and subsequent lockdowns limited travel and shuttered their doors. That sparked a renaissance and provided a growth opportunity for companies like Golden Matrix Group (NASDAQ: GMGI), a provider of turnkey and white label gaming platforms, Esports technology and gaming content.

Even with casinos opened again, the trend towards digital gaming is accelerating with no indications it will slow. Data Bridge Market Research this month forecast 13.7% compound annual growth for the casino online gambling market to reach $144.74 billion in 2028. Drivers abound, including increasingly realistic graphics where the lines between video games and online gaming are becoming blurred.

Toss in the emergence of virtual and augmented reality to create the sensation of being in a casino and suddenly people have more money for gambling by saving on travel costs in favor of putting on a headset.

Golden Matrix’s GM-AG System is the industry standard for gaming platforms, including leading graphics and over 10,000 games to give casino operators a copious number of options and management software to keep customers happy and loyal to their brand. As a rule, casinos can’t have enough online table games, which is right in GMGI’s wheelhouse. According to Gaming.com, cons of Caesars online casino, the company with the highest payout rate in the U.S., include a need for more online games.

Golden Matrix is only scratching the surface of the bounds of its potential domain. Most of its business has historically been business-to-business with operators focused in Asia-Pacific. Last year, the company bought 80 percent of RKings Competitions Ltd., marking its entrance in the European markets, as well as business-to-consumer segment. The company is amid its next expansion move, which will bring RKings’ competitions to the Mexican markets.

Through July, RKings has over 229,000 registered users.

The growth is translating directly to quarterly results. In fact, the efficiently run company holds a streak of 16 consecutive profitable quarters. It is also flush with cash, having $15.87 million in cash and cash equivalents heading into its August-October quarter.

During its third fiscal quarter ended July 31, 2022, Golden Matrix reported revenue of $9.1 million, up 180% from $3.25 million in the year prior quarter. Sales were nearly even between B2B and B2C segments at $4.26 million and $4.85 million, respectively. Net income for the quarter was $628,332, topping $484,613 in profits in Q3 fiscal 2021.

For the first 9 months of the fiscal year, the company logged revenue of $26.46 million, up 237% from $7.84 million a year earlier. Net income was $1.56 million compared to $664,757 last year.

“Because of the highly competitive nature of our industry, we are continually upgrading our systems and gaming content offerings to support the needs of our millions of participants,” said Golden Matrix CEO Anthony Brian Goodman in a news release on the recent quarter.

For more information, visit the company’s website at www.GoldenMatrix.com.

NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://nnw.fm/GMGI

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Reklaim Ltd. (TSX.V: MYID) (OTCQB: MYIDF) the Premier Partner Amid Winds of Change to Protect Consumer Data

 

• California’s Consumer Privacy Act, Privacy Rights Act, and Europe’s General Data Protection Regulation represent a changing data market
• Reklaim is a leader in compliant data with a comprehensive platform that allows consumers to re-take control of their data and be compensated should they decide, it can be bought and sold
• Reklaim’s revenue jumped 277% year-over-year to $645,008 in Q2 as the company grows organically and explores accretive M&A opportunities

In years gone by, not long ago, companies were quietly hoarding as much data as possible from consumers, then promptly selling it for the maximum amount with little to no concern if the consumer liked it or not. Thankfully, a paradigm shift is happening with new privacy laws in North America, namely the California Consumer Privacy Act (“CCPA”) and the California Privacy Rights Act (“CPRA”), and Europe with its General Data Protection Regulation (“GDPR”), paving the way for litigation against data companies if they don’t comply. That has created an opportunity for companies like Reklaim (TSX.V: MYID) (OTCQB: MYIDF) to burst on the scene with an innovative privacy-compliant identity ecosystem.

Unable to secretly swipe consumer data, many companies in the data space find themselves in unfamiliar territory with little infrastructure to communicate with consumers. There is no skirting the laws, which undergirds why Reklaim believes many of these firms coping with the changing regulatory climate “will suffer significant revenue declines, and those without a compliance partner will likely cease to exist.”

The implications are tremendous. Consider that Facebook parent Meta said it expects a $10 billion write-down on revenue in 2022 because of changes Apple made to halt user tracking on external applications. To be clear, Apple’s App Tracking Transparency feature doesn’t stop all data collection, but it did upend the $200 billion US data market and caused data users to scramble to rethink strategies, just like they have to do with the shifting regulatory landscape.

For enterprise software juggernaut Oracle, a massive class-action lawsuit has been filed alleging privacy violations for collecting, profiling, and selling data on five billion users worldwide. Further evidence of the trend is shown in the Federal Trade Commission filing a lawsuit against data broker Kochava Inc. for selling geolocation data from mobile devices that identified people at places of worship, addiction clinics, domestic violence shelters, and other highly sensitive locations.

Reklaim is an eye-opener, allowing consumers to log in to their platform and confirm their identity, unlocking data collected on them, bought, and sold for years without their explicit consent. At that point, consumers can take control of their data and, if they choose, receive compensation for its use. With consent secured, Reklaim offers the data to Fortune 500 brands, platforms, and data companies. The company also has a subscription service for consumers that shrinks the amount of data leaking from their devices and delivers alerts on password and third-party data breaches.

As described by Sophic Capital, the supply of data is dramatically shrinking owing to new laws and actions of Apple and Google, which are planning on banning third-party cookies in Chrome, which will remove 65% of tracking from 1.8 billion websites on the open web today; further complicating companies trying to monetize data. Compliant data is not going to be the gold standard; it will be the only standard for brands to walk confidently within the parameters of the law. Reklaim also provides the ability to scale compliant targeting marketing initiatives with its database of compliant data for 350+ million profiles in the U.S. alone.

With the CCPA and CPRA going into effect shortly, business is picking up at Reklaim. During the second quarter, total revenue increased 277% to $645,008 from Q2 0221 and 65% from the first quarter of 2022. Recurring revenue accounted for 85% of the total revenue in Q2 2022 and was up 87% during the year’s first half compared to a year earlier.

According to Reklaim CEO Neil Sweeney, the company is focused on driving costs out of operations and exploring strategic acquisitions that can be immediately accretive to bolster the top and bottom line at a time when the compliant data market is about to go through a growth spurt. Realizing a “strike when the iron is hot” opportunity, Reklaim intends to increase its sales force to meet demand and foster further organic growth.

The addressable market in the U.S. is transformational on its own. However, this is global. Market research firm Gartner forecast in May called for a regulatory evolution that will result in 75% of the worldwide population having its personal data covered under privacy regulations by the end of 2024.

For more information, visit the company’s website at www.ReklaimYours.com.

NOTE TO INVESTORS: The latest news and updates relating to MYIDF are available in the company’s newsroom at https://nnw.fm/MYIDF

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Flora Growth Corp. (NASDAQ: FLGC) Strategic Acquisitions, Expanding Cannabis Exports Give Significant Boost to Company’s Revenue Streams

 

• Flora Growth is a global cannabis cultivator, product builder, and supplier, experiencing continued growth thanks to strategic acquisitions and an expanding supply chain for marketing its brands in various countries
• Flora announced its most recent acquisition in September — a deal to acquire the assets of the No Cap Hemp Co. brand in exchange for payment of 10 percent of the No Cap brand revenues up to a maximum of $2 million 
• The deal grants Flora an immediate revenue stream free of closing cost considerations
• Flora has seen revenues skyrocket over the past year, with a 604 percent YOY increase in the H1 reporting period

Global cannabis cultivator, product manufacturer and distributor Flora Growth (NASDAQ: FLGC) is measuring its success in rapidly rising revenues brought on by strategic acquisitions and the expanding international movement of its brands.

The company recently reported a 604 percent increase YOY in its H1 revenues to about $15 million, which was also a 117 percent increase over the previous half-year financial report, and is anticipating new momentum from the recent acquisition of the No Cap Hemp Co. brand by Flora’s wholly owned subsidiary Just Brands LLC.

The No Cap acquisition is expected to add some 75 SKUs to Flora’s product portfolio plus the “No Cap” and “Moonblunt” trademarks, according to a Sept. 7 company news release.

“This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business,” Flora Growth Chairman and CEO Luis Merchan stated (https://nnw.fm/ujlKx). “We look forward to increasing our product offering through this transaction while broadening our sales team in the process.”

Flora is headquartered in Canada where cannabis legalization has been pioneered, but the heart of the company’s operation is in northern Colombia, where its Cosechemos cultivation, extraction, and isolation facility, draws on an experienced workforce in the country’s fertile greenbelt to produce its brands.

Colombia is itself undergoing a cannabis transformation as it enacts progressive drug policy changes, establishing a regulatory framework to govern cannabis cultivation and exports. In August, Flora announced a distribution agreement with the Misak indigenous tribe’s pharmaceutical arm, which became the first native community business to receive a license from the national Ministry of Justice for legal cannabis production for medicinal and scientific use two years ago (https://nnw.fm/bkRbx).

The deal allows Flora to take advantage of the tribe’s “unique regulatory positioning” to rapidly advance the fulfillment of cannabis exports.

Merchan anticipates that the acquisition of No Cap’s brands will ultimately position Flora as the leader in the alternative cannabinoid market segment and that No Cap’s infusion technology will boost Flora Labs’ manufacturing capabilities.

“We continue to prudently manage our overhead and working capital as we expect to improve profitability going forward. With all three of our core pillars generating revenue in the second half of 2022 … we believe we have a path to profitability that few global cannabis companies can achieve in this difficult environment,” Merchan stated in August (https://nnw.fm/lZH0w).

For more information, visit the company’s website at www.FloraGrowth.com.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://nnw.fm/FLGC

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Correlate Infrastructure Partners Inc. (CIPI) – A Company with the Discipline of a Large Publicly Traded Corporation and the Innovative Mindset of a Start-up

 

• Todd Michaels, Correlate’s President and CEO, shared some insights into the company’s operations, how it came to be, and its plan for the future. He also shared his journey into the clean energy space
• He emphasized that the company is committed to helping corporations and companies to generate clean energy on-site and set up better technology that guarantees an instant increase in NOI
• Todd mentioned that Correlate looks to make it increasingly simple for people to find the company and take advantage of its offerings. This, he noted, would be facilitated by the company’s ever-growing team of experts, as well as its technology
• Correlate has two or three more acquisitions in the queue, which will be integral in expanding the company’s overall footprint and capabilities. These acquisitions will also aid in the company’s efforts to create new product packaging and delivery while also exploring other markets, mainly Hawaii

Correlate Infrastructure Partners (OTCQB: CIPI), a portfolio-scale real estate platform focused on eliminating barriers for large-scale property owners looking to improve their Net Operating Income (“NOI”), has achieved tremendous growth over the past couple of years. This growth has been primarily attributed to the company’s understanding of the renewable energy market and the competence of its leadership, starting with Todd Michaels, Correlate’s President and Chief Executive Officer (“CEO”).

While appearing in an interview published on the company’s website, Todd shared incredible insights into the company’s operations, how it came to be, and its plan for the future. In addition, he shared his journey into the clean energy space, along with what it took for him to grow the company into what it is today.

“From hiking and camping to fishing, I’ve always enjoyed the outdoors, and my love of nature led me to getting into sustainability at an early age,” Todd noted (https://nnw.fm/jNnOI).

With a background in emerging technology in communication and seven years of experience in Silicon Valley, Todd recognized an opportunity within the clean energy space and opted to jump in. Today, he notes, Correlate is committed to solving two main problems that corporations and companies, including the government, face regarding clean energy generation- how to generate clean energy on-site and how to set up better technology, including new infrastructure that runs off of renewable energy sources. 

To this end, the company has embarked on an ambitious project to improve buildings upfront while maintaining them over time, ultimately simplifying energy upgrades and making renewable energy solutions more accessible.

Todd lauded his team, describing them as “a group of serial entrepreneurs in the clean energy space.” He also mentioned that the company looks for people who have forward-thinking mentalities and the ability to adapt, mainly since the industry Correlate is in changes and evolves quickly.

While asked to share what sets Correlate apart, Todd reiterated that the company has the discipline of a large publicly traded company and the innovative mindset of a start-up. He further noted that while the company has made significant strides so far, it is still working towards being the first profitable, rapidly-growing, publicly-traded clean energy company with over a billion dollars in market capitalization, all in under two years.

“[I am most excited about] building a profitable, savvy, and nimble billion dollar business that can also innovate- and doing it quickly. I want the best people to work here because we are so different and progressive, yet we’re also stable and admired,” Todd stated.

Going forward, Correlate looks to make it increasingly simple for people to find the company and take advantage of its offerings that instantly enable them to increase NOI and meet their sustainability goals. This, according to Todd, will be achieved through the company’s ever-growing team of experts and its technologies. He also noted that the company has two or three more acquisitions in the queue geared towards expanding the company’s overall footprint and capabilities.

The acquisitions will complement Correlate’s list of subsidiaries comprising Correlate and Solar Site Design. They will, similarly, aid in the company’s creation of new product packaging and delivery while exploring other markets, mainly Hawaii.

Throughout the interview, Todd noted how pleased he was about the company’s current trajectory and expressed his optimism for the company’s future. Most notably, he cited the approval of the $369 billion Inflation Reduction Act, which has so far transformed his team from being investors freaked out about the solar market’s future to “seeing a clear ten years of stability.”

To read the full interview, visit https://nnw.fm/jNnOI

For company information, visit the company’s website at www.CorrelateInfra.com, including the following:

• Breaking Down Barriers To Your ESG Goals While Generating Additional Net Operating Income: www.CorrelateInfra.com/our-process
• Platform Generates New Rent And Operating Income, Allowing You To Meet Your ESG Goals: www.CorrelateInfra.com/program

NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://nnw.fm/CIPI

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Sugarmade Inc. (SGMD) Makes Strategic Advancements in Plan to Grow Presence in California Cannabis Space

 

• SGMD inks MSA with California cannabis micro license holder
• Agreement “lays a foundation for a significantly expanded manufacturing and distribution infrastructure,” says CEO
• Key partnerships are essential pieces of Sugarmade’s focus on California cannabis space

With the recent signing of a management services agreement (“MSA”) (https://nnw.fm/48aY5), Sugarmade (OTC: SGMD) is making key progress toward the goal of strengthening its position in the California cannabis space. SGMD signed the MSA through its subsidiary, SugarRush, which entered into the agreement with Canndis Inc., a California cannabis micro license holder.

Canndis holds a license that covers delivery, manufacturing, distribution and cultivation rights, and the agreement will enable Sugarmade to expand its manufacturing and distribution footprint.

“This deal will provide us with a new income stream as we apply our expertise and experience to mobilize Canndis’ assets and market positioning,” said Sugarmade CEO Jimmy Chan. “But it also has substantial strategic value because it lays a foundation for a significantly expanded manufacturing and distribution infrastructure under our control when we harvest our first crop.”

Sugarmade is anticipating harvesting that crop in the coming weeks, an accomplishment made possible through the company’s acquisition of a minority stake in RMI Ventures (d/b/a Jerusalem Grade Farm) (https://nnw.fm/A2toG); the property is licensed for 43,560 square feet of outdoor canopy area and is currently growing at full capacity this season. Sugarmade and RMI Ventures signed an LOI earlier this year.

These strategic agreements are essential pieces of Sugarmade’s focus on growing its presence in the cannabis space. The MSA calls for Sugarmade to assume management responsibilities and operational control over manufacturing and distribution of cultivated cannabis produced Jerusalem Grade Farm. The agreement also expands Sugarmade’s manufacturing and distribution footprint and will provide for the establishment of a new strategically located manufacturing and distribution hub near Palm Springs, California, as Sugarmade brings that harvest to market.

Sugarmade is a product and branding marketing company investing in operations and technologies with disruptive potential. The company’s brand portfolio includes CarryOutsupplies.com, SugarRush, NUG Avenue, J Grade Farm, Lemon Glow and Budcars.

For more information, visit the company’s website at www.Sugarmade.com. 

NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://nnw.fm/SGMD

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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