New York, NY -- May 18, 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-Q, 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 were $234,585 for the 3 months
ending March 31, 2021, compared to $108,429 for the first 3 months
ending 2020, an increase of 116.3% for the period. Management also
reported loss from operations of $42,493 for the 3 months ended
March 31, 2021, compared to $329,113 for the first 3 months ending
2020, a decrease of 87.1% for the period. In addition, management
also reported net loss attributed to the Company of $215,939 for
the three months ended March 31, 2021, compared to $452,307 for the
3 months ending 2020, a decrease of 52.3% for the period.
In a continued effort to reduce the convertible debt on the
balance sheet, Management reported that on March 15, 2021, the
Company entered into a note settlement agreement with an investor
whereby the investor agreed to settle certain convertible notes and
accrued interest for the payment of $25,000 and 75,000,000 shares
of the Company’s common stock. The Company recognized a gain of
$509,080 as a result of this transaction.
Management will continue to update its shareholders on its
continued election software and hardware development to certify for
the opportunity to bid on US Government and certain State elections
as new guidelines, rules and regulations are currently being
released.
John S. Matthews, the Chairman, stated, “We are happy with the
continued progress and growth of the Company and our operating
subsidiary, Global Election Services Inc. Management is now
preparing additional software and hardware updates following recent
new guidelines issued at both the Federal and State level. We will
be providing all of our shareholders with additional information as
the Company prepares for our 2021 shareholders meeting, where we
look forward to speaking with our shareholders. We thank all of our
shareholders for their continued support.”
As always, management recommends reading the full 10-Q 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 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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