Accounts Receivable and Payable Offset Memorandum between Golden Matrix Group, Inc. and Articulate Pty Ltd
Golden Matrix Group, Inc. and Articulate Pty Ltd have agreed to offset the amounts they owe each other as of September 30, 2022. Golden Matrix had an accounts receivable of $596,739.32 from Articulate and an accounts payable of $77,018.94 to Articulate. By offsetting these amounts, Golden Matrix no longer owes Articulate, and the remaining balance Articulate owes to Golden Matrix is $519,720.38. This agreement helps both parties avoid transaction expenses related to settling the accounts payable.
EXHIBIT 10.45
Memorandum
Friday October 14, 2022
Purpose
The purpose of this Memorandum is to clarify that both parties in this Memorandum agree to offset Accounts payable with Accounts receivable.
Background
As of September 30, 2022, Golden Matrix Group, Inc. has an accounts receivable of $596,739.32 from Articulate Pty Ltd and accounts payable of $77,018.94 to Articulate Pty Ltd.
To avoid the transaction expenses to settle the accounts payable, both parties agree that it is beneficial for both parties to offset the accounts payable with accounts receivable.
Therefore, after the offsetting, Golden Matrix Group, Inc. has no accounts payable to Articulate Pty Ltd., and the balance of accounts receivable due from Articulate amounts to $519,720.38 as of September 30, 2022.
| Golden Matrix Group, Inc. |
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| By: | /s/ Omar Jimenez |
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| Chief Financial Officer: Omar Jimenez |
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| Articulate Pty Ltd |
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| By: | /s/ Anthony Brian Goodman |
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| Director: Anthony Brian Goodman |
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