|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0193 - 0.0269|
|52 Week Range||0.0025 - 0.9200|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Having been in the cannabis sector, specifically in payment processing, we quickly became recognized by our industry peers as the go-to company for resources in banking, payments, software, insurance, POS, government relations, and more.
SAN DIEGO, Feb. 12, 2020 -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that, as part of a larger effort to restructure and diversify.
WIT is a manufacturer of Nutraceutical products that are ready to be deployed into the market and both companies have agreed they can benefit from Global’s experience with sales and marketing of new product launches. “This acquisition has been in the works for some time and represents the first step in our overall goal to diversify Global Payout’s holdings,” said Global Payout CEO, Vanessa Luna.
“We are exploring partnerships with several major players in payment processing, but also in other key market sectors,” Said Global Payout CEO, Vanessa Luna. Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation.
This move comes as part of the Company’s ongoing reorganization with the intent to promote diversification and new venture opportunities for its long-term profitability objectives. Mr. Flores’s resignation from Global Payout also extends to his role as Executive Vice President of the Company’s wholly-owned subsidiary, MTrac Tech Corporation and his current seat as a GOHE Board Member. Mr. Flores joined the Global Payout executive team in June 2018 following the Company’s reverse triangular merger with MoneyTrac Technology.
The MTrac team plans to have all existing clients converted to the new system within 60 days and new clients to be boarded starting February 1st, 2020. MTrac is proud to maintain its front-runner position as a fully compliant, closed-loop payment service company. With these updated compliance features, MTrac 2020 will allow more banks to join its network, which benefits MTrac clients by allowing them to use a wider variety of card types to load their wallet.
Much of that can be attributed to the progress we achieved in our wholly owned subsidiary, MTrac Tech Corporation, which we contend took the retail cannabis market sector by storm for most of the year. From a revenue perspective, Global Payout earned the most successful fiscal year in its history, which will be reflected in the financials of the annual filing that will be released in the coming months. While we have, in my opinion, done an amazing job overcoming many of these challenges, it has only increased my determination to diversify opportunities for our company, as we turn our focus to accelerating the growth of Global Payout in the year ahead.
Completing the audit marks the end of what has been an arduous and time-consuming project for the Company for the better part of the last year and a half and signals the beginning of an exciting new era for Global Payout. “After spending well over a year trying to complete this audit, I am extremely grateful to be sharing this news with our shareholders,” said Global Payout COO, David Flores. “The completion of this audit is a very significant milestone for our company and for our valued shareholders who have continued to demonstrate confidence in our vision,” said Global Payout CEO, Vanessa Luna.
The MTrac 2020 system, which is currently in its final stages of development and beta testing, will feature a more attractive user interface, improved reporting capabilities and key enhancements to the ledger and its recording and auditing proficiencies. Furthermore, the system will continue to provide users with the most robust and seamless cashless payment processing system available in an industry which remains extremely limited in viable payment processing solutions. While in attendance at MJBizCon, the MTrac team had the opportunity to meet and connect with a variety of individuals and business owners throughout the industry and discuss with them the challenges that remain present due, in large part, to the absence of a stable banking system.
The conference is recognized as the world’s largest cannabis industry B2B event and brings together thousands of attendees from all sectors of the emerging cannabis industry. At this year’s event MTrac will showcase a sneak peek at the MTrac 2020 payment processing platform that is intended for release to both new and existing merchants in early Q1 of 2020. Attendees will be able to view live demos of the new, and vastly improved, MTrac system that is being developed to meet all current compliance and regulatory requirements within the highly regulated and challenging sector of payment processing in cannabis.
As a handful of shops this past Sunday in the Ann Arbor region of Michigan opened their doors for recreational sales hundreds of residents withstood inclement weather conditions and waited patiently in long lines to become some of the state’s first residents to legally purchase cannabis for recreational use. Michigan’s first medical dispensaries opened last November and posted enormous sales, raking in over $42,000,000 in the first four months of operation and to date have exceeded $200,000,000 in sales. Currently, 22 communities have formally passed regulations to allow new dispensaries to be licensed, presenting a compelling business opportunity for MTrac and its growth initiatives heading into the new fiscal year.
Gross revenue nearly tripled and net revenue more than doubled over the previous quarter. The objective for 2019 has been to create a sustainable revenue stream for the Company which, in my opinion, we have achieved with MTrac.
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that their executive team attended the recent Money 2020 convention in Las Vegas, NV, and had the opportunity to discuss potential partnerships with a variety of disruptive payment technology providers to bring their various solutions to market. “Money is changing, and the cannabis sector is not the only sector in need of innovative financial services,” Said Global Payout CEO, Vanessa Luna. “While we have spent the last year focused on expanding into the cannabis sector, we have also realized a huge amount of value from this team in their ability to successfully bring a piece of technology to market.
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that, as part of an ongoing effort to restructure the Company, the Directors (with the written affirmation of the majority of shareholders) have reduced the total authorized common shares by a factor of ten, to 400,000,000. “Over the last year we have taken steps to restructure the Company with the intention to gain some real momentum in the market,” Said Global Payout CEO Vanessa Luna. Global Payout continues to work on completing its audit to prepare for filing the Form-10 and will continue to keep shareholders updated.
Global Payout Inc. (OTCPink: GOHE) (“Global” or the “Company”) is pleased to announce that Global Payout has entered into a financing arrangement with a long-term private investor for ongoing financial support at a valuation of ten times the current share price. This investment group has already provided over $2,200,000 in investment capital to the company over the past two years and has committed to additional financing of more than $3,000,000 at a 10x valuation for a total investment of over $5,000,000. The Company anticipates using a large portion of these proceeds to retire a substantial percentage of the Company’s outstanding convertible debt, which will have tremendous value to the stock and its shareholders.
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that Global Payout CEO Vanessa Luna has been invited to participate in a panel discussion at California’s 1st Annual Cannabis Policy Summit in Oakland, CA, on October 18 of this year. Joining her in attendance will be Jason LeBlanc, MTrac Chief Compliance Officer. Over the last week, MTrac had an opportunity to present to state officials the features and functionality of its SAAS solution to serve as a tool for banks and regulators to enhance the availability and transparency of financial services offered to the state’s legal cannabis industry.
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce the addition of Ms. Vivian Estrada as the new Chief Operating Officer of MTrac Tech. Ms. Estrada joins the Company following a highly successful seven-year tenure with LifeLine Ambulance in Montebello, CA where she served as the company’s Director of Human Resources managing an operation with over 250 employees day to day and directly contributed to the oversight of the company’s internal operational organization.
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - September 18, 2019) - Investorideas.com, a leading investor news resource covering tech and cannabis stocks releases a snapshot reporting on some of the key technology developments impacting the cannabis sector and how companies are deploying "disruptive" technologies to ensure early mover advantage.Read the full article on cannabis companies deploying tech at Investorideas.comhttps://www.investorideas.com/News/2019/cannabis/09180NewTechnologies.aspSince Federal legalization in Canada, and with new markets opening up every day ...
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that following the launch of their West Coast Government Relations initiative, the MTrac team has secured meetings with some of the top legislative stakeholders in California, Nevada, Washington and Arizona. Over the next several weeks representatives from MTrac’s legal and compliance teams and key company executives will attend upwards of 25 meetings with, among others, Legislative aids, directors, office of the state treasurer representatives, chiefs of staff, assembly committees, representatives of the tax policy bureaus, and other key offices within the state that play an integral role in implementing state cannabis regulatory policy objectives.
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - September 10, 2019) - Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot reporting on banking and payment issues in the cannabis industry in both the US and Canada, and some of the new payment solutions coming to market aiming to address these issues.Read the full article on Investorideas.comhttps://www.investorideas.com/News/2019/cannabis/09100PaymentSolutions.asp In recent news, Arizona began looking to FinTech and stablecoin to ...
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to advise shareholders and interested stakeholders alike that work and overall progress continues to be made with the Company’s ongoing two-year audit and that the Company remains intent on filing its Form-10 as soon as reasonably possible. For the better part of the past several months the Company has been fully engaged in a two-year audit as part of a key and necessary requirement to effectively complete its Form-10 filing and provide the Company with the fully reporting status that management has been eager to achieve since assuming control of the Company in June of 2018. Since April of this year, the Company has been working in collaboration with Albeck Financial Services, Inc. to review and reconcile the Company’s financial records from the last two years in preparation to be turned over for review and audit by M&K CPAS, PLLC, one of the final steps required prior to filing the Form-10.
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - September 9, 2019) - Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot reporting on the Nevada cannabis market and how specifically, Las Vegas is drawing in more consumers and driving more businesses. Read the full article on Investorideas.com discussing cannabis companies in Nevadahttps://www.investorideas.com/News/2019/cannabis/09063Nevada.asp In recent sector news it's been reported that Nevada's cannabis industry has given more ...
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - September 5, 2019) - Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot reporting on the continued development of the cannabis ancillary market as the sector matures; expanding into new states and countries.Read the full article on Investorideas.com looking at cannabis ancillary companieshttps://www.investorideas.com/News/2019/cannabis/09050AncillaryMarket.aspThe maturation of the Canadian and US markets, along with the rapid expansion of international cannabis markets ...
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that the Company has expanded its Las Vegas operations office by acquiring office space directly adjacent to the office MTrac has utilized as the hub for its operational team for more than a year. The significant growth surge the Company has experienced this year onboarding and servicing some of the largest retail and delivery service companies in the cannabis industry has led the Company to strategically add talented new members to its operations support team at a steady, yet effective, rate over the last several months.
Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that as the Company enters the last month of the third quarter of 2019 it has reached a point where it is effectively processing tens of millions of dollars in daily transaction volume across its growing base of clients in the multibillion-dollar cannabis industry. As demonstrated in the Company’s recent Q2 disclosure detailing Company financials, MTrac’s growth trajectory has remained positive and has continued to gain significant traction throughout the year. This feat has been accomplished in part through MTrac’s success in securing several strategic service agreements with some of the largest companies in the industry today.