[144] Bullfrog AI Holdings, Inc. Warrants SEC Filing

Rhea-AI Filing Summary

Golden Matrix Group, Inc. (GMGI) Form 4 filing discloses that Chief Executive Officer, Director, and 10% owner Anthony Brian Goodman sold 50,000 shares of common stock on 30 June 2025 at prices ranging from $1.71-$1.80 (footnote indicates a volume-weighted average price of ≈$1.75). The transaction was reported on 2 July 2025.

Following the disposition, Goodman still controls a substantial stake: 8,854,079 shares held directly and 7,470,483 shares held indirectly through his wholly-owned entity, Luxor Capital LLC, for a combined beneficial ownership of roughly 16.32 million shares. The sale represents ≈0.3 % of his total position, suggesting portfolio management rather than a major reduction in commitment.

No derivative securities activity was reported, and the filing does not reference any Rule 10b5-1 trading plan. Luxor Capital LLC is listed as a joint filer because of its indirect ownership.

• Key take-away: A modest insider sale by the CEO; insider retains a dominant ownership position.

Positive

• CEO retains approximately 16.3 million shares, indicating continued long-term alignment with shareholders despite the small sale.

Negative

• Insider sale by the CEO could be interpreted by some investors as a bearish signal, even though the volume is minimal.

Insights

Securities Analyst

TL;DR: 0.3 % CEO share sale is immaterial; ownership remains large.

The 50 k-share sale generates roughly $87.5 k in proceeds and trims Goodman’s stake by only a few tenths of a percent. His continued 16 M-share holding keeps his economic interests strongly aligned with shareholders. Because no guidance, earnings, or strategic changes accompany the transaction, I view the filing as neutral for the stock. Insider selling often raises eyebrows, but magnitude, timing, and retained ownership suggest routine liquidity.

Corporate Governance Expert

TL;DR: Governance risk low; sale within normal insider-trading patterns.

There is no evidence of a 10b5-1 plan, yet the sale volume is modest and fully disclosed within two days, satisfying Section 16 timeliness. The CEO’s large residual stake limits potential misalignment. Absent larger or repeated disposals, I classify governance impact as non-material.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Raymond James & Associates, Inc. 880 Carillon Parkway St. Petersburg, FL 33716	50000	76500.00	9415525	07/01/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/02/2020	Founder Stock	From Issuer			50000	06/02/2020	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Vininder Singh 4 Black Kettle Ct Boyds, MD 20841	Common	04/01/2025	7245	11634.75
Vininder Singh 4 Black Kettle Ct Boyds, MD 20841	Common	04/02/2025	8902	14600.17
Vininder Singh 4 Black Kettle Ct Boyds, MD 20841	Common	04/03/2025	27958	40172.85
Vininder Singh 4 Black Kettle Ct Boyds, MD 20841	Common	04/04/2025	5895	7686.49

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Golden Matrix (GMGI) shares did CEO Anthony Goodman sell?

50,000 shares of common stock were sold on 30 June 2025.

What was the average price of the GMGI shares sold?

The weighted average sale price was approximately $1.75, with transactions between $1.71 and $1.80.

How many GMGI shares does the CEO still own after the sale?

Goodman beneficially owns 8,854,079 direct shares and 7,470,483 indirect shares via Luxor Capital LLC—about 16.3 million total.

Does the filing mention a Rule 10b5-1 trading plan?

No. The form does not indicate the transaction was executed under a pre-arranged Rule 10b5-1 plan.

Is the insider sale material to Golden Matrix investors?

Given the sale represents roughly 0.3 % of the CEO’s holdings, analysts generally consider it immaterial to the investment thesis.