On the Rise: MTrac Demonstrates Revenue Growth in Q1 2019
April 15 2019 - 8:00AM
InvestorsHub NewsWire
On the Rise: MTrac Demonstrates Revenue Growth
in Q1 2019
San
Diego, CA -- April 15, 2019 -- InvestorsHub NewsWire -- Global
Payout Inc. (OTCPink:
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. (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
Cashless®.”
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.
Media
Contacts:
Global Payout,
Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com