secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Holdings Inc./NV (MRDN)
CIK:        0001437925
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001477932-24-003781
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Golden Matrix restructures $7M deferred consideration via stock & convertible note; raises exec pay
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- Restructured $7M deferred consideration: $4M into 1,333,333 shares at $3.00/share; $3M convertible note due Dec 2025.
- Convertible note: 15% discount to 30-day VWAP or $3.00 (floor $2.00); $2M callable before Jan 1, 2025; 12% default interest.
- Milovanović stake increases to ~58.9% after share issuance; note could add up to 1.5M more shares if converted.
- CEO salary raised to $396K; COO to $216K; Meridian CEO Milosevic $396K + quarterly stock option; 18-month severance.
- Non-executive board monthly comp increased from $5K to $7.5K, effective June 1, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437925/000147793224003781/0001477932-24-003781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437925/000147793224003781/gmgi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-003781

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer