SAN DIEGO, Oct. 30, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (OTCPink:GOHE) (“Global”) and its wholly owned subsidiary MTrac Tech Corp. (“MTrac” or the “Company”) are pleased to announce that, after many months of diligence, they are in the final stages of the audit and have begun drafting the Form 10, which the Company anticipates will be filed within the next few weeks. The Form 10 represents a key mile marker for this Company as it moves to expand nationwide as a premier technology provider.
Over the last few weeks the team at MTrac has been dedicated to onboarding as many clients as possible and streamlining this process to allow for the fastest possible turn around from inquiry to implementation. The filing of the Form 10 combined with the first real round of revenue arising from the current business plan for this Company signifies the diligence and commitment the team has to making MTrac the industry standard. It is a signal to shareholders that we are serious about establishing ourselves as a major player in the multibillion-dollar cannabis facilitation market.
“The completion of this audit has been a long time coming,” said Vanessa Luna, Global Payout CEO. “There were a number of challenges associated with the preparing, restructuring, organizing, and meticulously reviewing Global’s financials. Our management team has been dedicated to working with our accounting group and providing financial statements to our independent auditor, Fruci and Associates, but I am pleased to report that we are in the process of wrapping up the audit and finalizing the financials in anticipation of filing the Form 10 during the month of November. Execution has been the key focus in our management where we wanted to smoothly transition the takeover in June, complete the audit, and more importantly, begin servicing clients with our subsidiary MTrac to showcase revenue potential for this Company. We have, in a very short amount of time, really hustled and brought about significant progress across all fronts, and I am very pleased to continue to announce our intent and executions to showcase our dedication to the Company and its shareholders.”
About Global Payout, Inc. (OTC Pink:GOHE)
From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation. a Nevada Corporation is a privately held wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution for alternative banking and electronic financial marketplace with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTRAC’S creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to CashlessTM”
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Public Relations and Media Contact:
MTrac Tech Corp.
(702) 790-2511 Ext. 101
New York, New York