SAN DIEGO, Dec. 31, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce an update from our Chief Executive Officer, Ms. Vanessa Luna:
As 2018 comes to an end, I’d like to take this opportunity, on behalf of myself and the Company to provide our valued shareholders with clarity on a number of business endeavors and aspirations for the new year. My involvement with Global Payout since 2016 has always been, and continues to be, that of persistence, innovation, recognition of opportunities, and the cultivation of key partnerships. In my opinion, the time leading up to this moment was well spent on laying the ground work and building the infrastructure necessary to sustain what we can now expect to be prospective rapid growth and universal adoption of our payment system across a multitude of sectors.
Early on I saw the potential in MoneyTrac Technology and began to focus my efforts on developing it as the core business initiative in a closed loop environment while focusing on the technology to create a sustainable payment platform. The true value of the Company came into focus at the beginning of this year when we signed an exclusive license with GreenBox POS (GRBX) to offer a truly unique payment solution to the mass market. In the midst of the progresses made at MTrac, and in the best interests of all the shareholders, MoneyTrac Technology completed a reverse triangular merger to create MTrac Tech Corporation, the surviving entity, with Global Payout now holding all the issued and outstanding shares of MTrac Tech Corporation (making it a wholly owned operating subsidiary and MoneyTrac Technology shareholders receiving Company shares).
While focusing our efforts on generating revenue for MTrac Tech Corp., the Company has also been focused heavily on meeting several goals for the parent company, Global Payout. Since the merger and change in management, the focus has been to complete the necessary two-year financial audit in conjunction with our independent auditing firm Frucci and Associates which we accomplished late this year. We have retained Nicolas Cosia to complete our Form 10, which is in its final draft stages, and we have every intention of filing the Form-10 in the next few weeks. The filing of the Form-10 is a meticulous process that requires full and fair disclosure and for which there is no margin for error. We understand how anxious our shareholders are to see this filed, and our team has been working diligently through the audit to get us to this point, but I want to assure all of our shareholders that this is a process that we have handled with extreme care and precision and have not been able to properly estimate the time it would take, however, with the help of our counsel and strategic advisors, we are very close and anticipate the filing to occur within the first few weeks of the new year.
Fully reporting status will be a major milestone for Global shareholders and we plan to showcase Global as a revenue generating entity with the potential that will be reflected in a fair market valuation, one which I personally believe is significantly undervalued today. We are looking to restructure the stock by addressing all outstanding shares to increase value for those true believers in what we are building here. This was never intended on being a short journey, as the real and successful ones take time, persistence, and hard work, and I’m so proud of our team for meeting the challenge and succeeding in the process of cleaning up our company structure, a thankless job that requires constant reassessment of issues that arise each step of the way through the comprehensive audit process. We have also worked with note holders on conversion of debt and look forward to the continued restructuring of Global Payout Inc. In 2019 we plan to utilize a license from our technology partner GreenBox POS, LLC (OTCQB: GRBX) for low-risk and high-risk payment processing with a number of merchants ready to go live in Q1. Global will continue to identify new industries and new business opportunities to bring this tech to market. Accompanying me and serving Global Payout will be COO/Interim CFO Mr. David Flores and Ms. Stormy Simon, a Director of the Board.
The Company has seen several major business developments take place for MTrac Tech Corp.; we currently have a new 5yr “Exclusive” Licensing agreement with GreenBox POS, LLC (OTCQB: GRBX) and Cultivate Technologies. Since we set the new MTrac system live on October 2nd we have successfully onboarded and currently have over 30 Merchants utilizing MTrac. We have successfully produced revenue from our existing clients and although the numbers seem small as we ramp up our revenue has increased by about 1000% in Q4 in comparison to all of Q3. While we recognize that past performance does not predict future results, in management’s opinion, we are well on our path to showcasing the true revenue potential of MTrac. Just this year we have met with city municipalities, state representatives, government relations teams, local state Banks, City Police Departments, merchants, and consumers, all of whom have agreed that the system provides a comprehensive value proposition for many peripheral stakeholders with various benefits in the areas of compliance, public safety, reporting, convenience, and adaptability.
As a strategic endeavor, we planned our initial roll out and proof of concept of MTrac in what is currently the most underserved industry in this market, the Cannabis industry. One of our core strategies thus far has been to include the valuable feedback of our clients for continued development into updating the system for our mutual benefit. We intend to offer the most adoptive and premier service to every aspect of this market including retail merchants, and vendors in the supply chain. Our ecosystem is a unique and now proven platform that is in our estimation being adopted by the largest companies in this industry. The potential for this system reaches into every sector of this market from sales, to regulation, to banking. We are in talks with some of the industry’s leading POS companies for the purpose of integrating MTrac into their existing software, which would give us instant access to a wide swath of market share. Our government relations team, MGR2, LLC, has worked continuously in several east coast states at high legislative levels speaking with state representatives and local municipalities for consideration to approve and vouch for our system for the benefit of their licensed businesses, digital tax revenue, and regulatory controls. We will continue into 2019 to onboard merchants, complete direct integrations, work with state Banks, and States who are looking to adopt our system. For MTrac we intend to be moving forward with Mr. Jason LeBlanc, who was promoted to COO, and Mr. Aaron Adler as CRO, along with a team of dedicated employees, and our growing Las Vegas call center. We are proud and fortunate to have assembled an incredible team at MTrac who have spearheaded all of our expansion initiatives and delivering value to Global shareholders.
As I look ahead to 2019, it is no secret that our primary focus is on continuing to drive revenue and on working to increase our market valuation in a very competitive and challenging marketplace. The excitement and overall optimism I have for the year ahead is palpable to say the least. My confidence for success is driven and reinforced in recognizing that both Global Payout and MTrac are led by a collective group of extremely talented and motivated professionals who will simply not rest until each and every objective we have set forth is achieved. So much of what we accomplished in 2018 has positioned us for an extraordinary 2019 and as such, I cannot help but to believe that Global Payout is truly a “hidden gem” in the OTC Markets, and is one that, in my opinion, has a very unique opportunity to become one of the most talked about breakthroughs of 2019. So please, hang in there and stay tuned for a remarkable year ahead!
Vanessa Luna, CEO Global Payout, Inc.
About Global Payout, Inc. (OTC Pink:GOHE)
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. 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 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.
Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101
New York, New York