New York, NY -- April 11, 2021 -- InvestorsHub NewsWire
-- Global Arena Holding,
Inc. (the “Company”) (OTC
Markets: GAHC), a growth oriented, acquisition minded
company, focused on specific niche markets offering exponential
growth — is pleased to announce that the Company has filed its
10-K, and is excited to share a few highlights which will support
management efforts at assisting its subsidiary, Global Election
Services, Inc. (“GES”), further its expansion into government
elections.
Management reported that revenues for the 12 months ended
December 31, 2020 were $641,629, compared to $477,773 for the 12
months ending 2019 – a roughly 34% increase for the period.
Management also reported $308,223 in ‘Deferred Revenue’ for the
year ending December 31, 2020; expected to be earned during
2021. For the 12 months ending 2019, the Company had
reported 'Deferred Revenue' of just $40,500. This increase
speaks largely to the growing demand for GES’s election services,
even during the Covid-19 pandemic.
Management also reported an important, but easily overlooked
item, in that the Company extinguished $622,767 of convertible
notes and $199,189 of accrued interest in Q1 of 2021. As
reflected in the Subsequent Events footnote to the financial
statements, the Company entered into a note settlement agreement,
paying $25,000 in cash, and issuing 75,000,000 shares of common
stock to the noteholder. Given the conversion features
on the extinguished notes, along with the accrued interest, this
settlement is potentially accretive to the balance sheet and should
lend to further building shareholder confidence.
“There are several successes that can be gleamed from our 10-K,
including GES expanding its track record by entering the
private government election space, where GES successfully
completed the Statewide Presidential Primary for North Dakota
Democratic-NPL. I believe it was important to highlight
revenue growth and debt reduction as the key points to be aware
of,” stated John S. Matthews, Chairman of
GAHC. “Coverage of these two items helps establish a
narrative around the sincere attention we place on our fiscal
health, as well as our absolute intention to build a fundamentally
sound company.”
“There is a lot to be proud of, particularly those events born
from our 2020 successes and we look forward to taking full
advantage of all the opportunities they may bring us in
2021. I would like to thank our shareholders for their
support, and I especially want to thank our staff, and outside
vendors who continued administering elections under the most
difficult of environments caused by the Covid-19 pandemic, and
continued working, and improving the reputation of GES.”
As always, management recommends reading the full 10K in its
entirety and contact the Company with any questions.
For more information on these and other developments, please
visit the Company’s website at: http://GlobalArenaHolding.com,where you can
also access all SEC filings, as the Company continues to pursue a
more effective investor relations initiative.
ABOUT GAHC
Global Arena Holding, Inc. trades on the OTC Markets, under the
ticker symbol
GAHC. The Company has been publicly traded since 2011 and holds
a number of interests, including Global Elections Services, Inc.,
Tidewater Energy Group Inc., and GAHI Acquisition Corp. Please find
the Company’s filings at SEC.gov
ABOUT
Global Election Services, Inc. (GES)
Owned by Global Arena Holding Inc., GES
provides comprehensive technology-enabled election services to
organizations such as craft and trade organizations, labor unions,
political parties, co-operatives and housing organizations,
associations and professional societies, universities, pension
funds and credit unions, and entertainment organizations. GES
senior management has been supervising elections since 1981, having
managed more than Eight Thousand Six Hundred (8,600) election
projects involving over Forty Million (40,000,000) voters,
certifying each labor election with the U.S. Department of Labor.
The primary method of voting for GES elections is Paper Mail
Ballots. No election supervised by GES or its senior management has
ever been overturned by the U.S. Department of Labor. Management
has an extremely strong reputation in the market and a very
extensive, longtime customer list. Our mission is to help our
clients conduct efficient, accurate, secure and less costly
elections with greater participation. As a viable independent third
party managing each election, we work to increase methods and rates
of participation while maintaining the One Voter = One Vote
Integrity that our management team has been committed to for nearly
4 decades.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information
included in this press release contains statements that are
forward-looking, such as statements related to the future
anticipated direction of the industry, plans for future expansion,
various business development activities, planned or required
capital expenditures, future funding sources, anticipated sales
growth, and potential contracts. Such forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such
results may differ from those expressed in any forward-looking
statements made by, or on behalf of, the company. These risks and
uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing
management, financing activities, domestic and global economic
conditions, and other risks and uncertainties described in the
Company's periodic filings with the Securities and Exchange
Commission.
CONTACT:
Global Arena Holding, Inc.
208 East 51st St.
Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524
www.globalarenaholding.com
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