NEW YORK, NY -- January 25, 2024 -- 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 the 10-Q for the
quarter ended September 30, 2023.
The 10-Q for the quarter ended September 30, 2023 reflects
management’s continued effort to grow the Company at a steady and
disciplined pace. Financial highlights include but are not
limited to:
- Revenue increased 66% to $268,304 for the third quarter as
compared to $162,067 in the third quarter of 2022.
- Losses from operations decreased 69% to $ 78,540 as compared to
$253,429 in the third quarter of 2022.
- Net loss was $169,458, a decrease of 22% from a net loss of
$216,385 in the third quarter of 2022.
Management reported that revenues for the nine months ended
September 30, 2023 reflected $612,468 as compared to $559,911 for
the same nine month period in 2022.
Management reported that loss from operations for the nine
months ended September 30, 2023 reflected $375,887 as compared to
$710,464 for the same nine month period in 2022.
Management is currently attempting to renegoiate certain
convertible debt instruments in the first quarter of 2024, and to
set an example of Management’s commitment, salaries and benefits
totaled $281,825 for the nine months ended September 30, 2023
compared to $587,335 for the nine months ended September 30,
2022. This decrease was due to agreed upon changes in GAHC
employment compensation for employees including John Matthews, an
officer and director of GAHC and Kathryn Weisbeck who have
specfically reduced their GAHC compensation to $2.00 a quarter.
Global Election Services Inc. (GES), the company’s operating
subsidiary, continues to administer private elections nationwide
and develop election software. GES has issued Request for Proposals
to certain technology companies, so that it may file an application
to the United States Election Assistance Commission to apply
for a Voluntary 2.0 certification.
John S. Matthews, the Chairman and CEO of Global Arena Holding,
Inc., stated, “Management is committed to continue growing Global
Election Services Inc., and will seek to increase shareholder value
through potential acquisitions, the reorganization of the Company’s
balance sheet, and potentially the sale of assets.”
As always, management recommends reading the Company’s
financials in their entirety and contacting the Company at any time
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 Pink Market, 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 thousands of 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 over 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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