SAN DIEGO, Calif., April 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to provide our valued shareholders with an update on MTrac’s ongoing expansion in 2019. The legal cannabis industry is experiencing very fast growth, and since the launch of the current iteration of the MTrac system in October, 2018, the Company has directly participated in this growth.
Just as important has been the ability of MTrac to deliver a payment solution that is playing a critical role in establishing compliance, safety, and security in a nascent industry that has experienced a multitude of challenges which derive from limited access to standard banking and payment processing solutions. As a result, MTrac, through its unique blockchain technology powered system, has become a trusted partner to a growing number of merchants, in an ever-evolving industry, who are looking for solutions to help them streamline and more effectively manage their businesses.
In a review of performance figures for Q1 2019, the Company is encouraged by continued expansion evidenced by an estimated increase of more than 5x in processing volume since October 2018. Additionally, the Company is pleased to report that at the present they have more than 50 merchants within the MTrac ecosystem. This progress has resulted in increases of more than triple in gross revenue figures from Q4 2018 to Q1 2019. Mtrac has increased business significantly in the last several months and anticipates that the revenue growth trend will continue for the remainder of 2019.
“MTrac continues to make significant progress in addressing the needs of present and future cannabis industry customers,” said Global Payout COO and MTrac Executive Vice President, David Flores. “The proof that we are trending in the right direction and are pushing forward with our objective of capturing as much of this diverse and rapidly expanding industry as possible, is positively in the numbers. We have always recognized and understood the inherent challenges we would face to bring our system to market, particularly due to the fact that industry protocols and standards are being developed and established right before our eyes. However, rather than shy away from these challenges, we have embraced them and are identifying opportunities to leverage the unique compliance, safety and security features the MTrac system provides to help lay the groundwork for creating a safer and more efficient industry. So long as we continue to maintain this as our primary objective, I truly believe our success and achievements will continue to be reflected in our quarter-by-quarter figures through 2019.”
About Global Payout, Inc. (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 Cashless®.”
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Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101