SAN DIEGO, Nov. 12, 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 their payments platform has gone live in Colorado, which represents its third active state in pursuit of its nationwide expansion plans, and boarded its newest San Diego client, which is one of the largest dispensaries in the county and represents MTrac’s fourth client in its home town.
MTrac’s first Colorado client is a company with two dispensaries, one in Denver and one in Boulder. The company is well-established and holds state licenses that comprise the full vertical from cultivation and manufacturing to retail. As with most cannabis businesses, cash heavy operations pose many challenges, and this Colorado company was in need of a secure, compliant, and customer-friendly cashless solution to streamline its business expenditures processes.
“The launch in Colorado offers shareholders a firm example of MTrac following up on its promise to expand.” Said Global Payout COO, David Flores. “We are now live in 3 states and we expect that number to grow as we continue to streamline our onboarding processes. Colorado was the first to offer recreational cannabis, and many companies have attempted to solve the cash problem for those businesses. To date, many have tried but none have fully succeeded, and I believe MTrac to be the solution that this market has been waiting for.”
MTrac also went live this week with its newest San Diego client, which is one of the largest dispensaries in the county, where (7) processing terminals were deployed, and MTrac experienced its largest revenue numbers since its relaunch at the beginning of October. The MTrac team anticipates having another two San Diego locations live before month’s end. Because of its San Diego origin and executive headquarters, the MTrac team is committed to making San Diego the safest, most compliant, cannabis community in the nation. MTrac’s executive team recently sat down with the San Diego Mayor’s office to introduce the platform and the many government oversight benefits of ledger technology to facilitate regulatory compliance. MTrac aims to make San Diego the first cashless and compliant cannabis city as a model for others to follow.
“Now let’s consider the true potential of this company.” Said Global Payout CEO, Vanessa Luna. “Many of our shareholders have been wondering what this all means, and how we plan to increase shareholder value and clean up the company’s stock to showcase what I consider to be a hidden gem in the OTC market. With our technology partners and MTrac’s exclusive software licensing rights within the industry, our goal is focused on mass market adoption. We have an extensive pipeline of dispensary, CBD, other high-risk, and low risk sector accounts coming on board and would estimate our existing pipeline at around 50 merchants looking to be fully transacting before the end of the year. Our transactional revenue is steadily increasing with each new merchant that goes live on the system and takes advantage of the increased sales that accompany the ability to offer their customers secure and compliant card payments at the register. After several months of hard work and dedication, MTrac has arrived at a point where we are creating value for our clients and, in my opinion, positioned perfectly to continue crushing revenue expectations over the coming months. To the loyal shareholders who have stuck with us throughout this entire process, we thank you and we offer you our continued assurance that we remain diligent in our intent of taking MTrac nationwide and turning this into a truly remarkable success story for you and for everyone who has contributed to our journey along the way. I expect to have a lot of exciting announcements in the near future as we continue to execute our business objectives and cultivate larger relationships. I am always saying, “this is only the beginning” and by that, I mean there is no stopping our drive to successfully offer our service in the highest caliber possible. Stay tuned!”
In addition to MTrac’s ongoing expansion within the industry, the Company is also pleased to announce that it remains on track in its intention of completing and filing the Form-10 in the next few weeks and looks forward to the opportunity it will provide the Company to transparently showcase its growth and financial progress.
As a reminder, the MTrac Tech team will be represented in full-force at this week’s MJBizCon in Las Vegas. Those who are able to make the trip to the convention are encouraged to visit the MTrac Tech team at booth #1754 where the MTrac payment platform will be displayed proudly for all attendees.
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