Global Arena Holding Inc. (GAHC), Files First Quarter 10Q, and
Updates Shareholders on Subsidiaries
June 24, 2019 -- InvestorsHub NewsWire -- Global Arena
Holding, Inc. (the “GAHC”) (OTC PINK: GAHC), announced
today, that the Company has filed its first quarter financials.
GAHC’s subsidiary, Global Election Services Inc. (GES), provides
comprehensive technology-enabled election services to organizations
such as labor unions, credit unions, colleges and universities,
residential organizations and trade associations. GES’ senior staff
has been supervising elections since 1981, certifying its Labor
elections with the U.S. Dept. of Labor. The Primary method of
elections that GES administers is by Mail Ballot, however GES is
also capable of administering elections over the Internet and
complies with the Title IV rule of the U.S. Dept. of Labor of
Office of Labor Management Standards.
GES has continued to develop a proprietary registration system
to authenticate voter eligibility, and develop a proprietary
tabulation software system utilizing advanced OMR/OCR/Barcode
software featuring de-skewing, de-speckling and image correction.
As reported in the GAHC 1st Quarter filing, GAHC announced the
following amendments to existing relationships, and announced the
following new relationships;
On May 10, 2019, the GAHC entered into an Amended asset purchase
agreement with Election Services Solutions, LLC (the “APA”).
Under the APA, the GAHC will purchase 100% of the assets of
Election Services Solutions, LLC. GAHC will pay $550,000, of which
$501,150 has already been paid, and issue 20,000,000 common shares
to purchase these assets under this APA. The Election Services
Solutions customer list and senior management are responsible for
much of GES core business. The closing of this transaction will
occur upon the approval of certain corporate actions at the 2019
annual meeting.
On May 13, 2019, the GAHC entered into an Amended Master
Services Agreement with HCAS Technologies (the “MSA”). Under the
terms of the MSA GAHC will issue a total of 30,000,000 warrants to
purchase the GAHC common shares at a price of $0.005 as
consideration for the services of HCAS and Mr. Magdiel Rodriguez.
Under the terms of the MSA, Mr. Rodriguez will become the Chief
Information Officer of GAHC. Mr. Rodriguez has over 25 years’
experience in the areas of Information Security, Enterprise Risk
Management and Compliance, Information Technology and Operations
including 21 years with Visa Inc. where he performed as Senior
Business Leader of Information Security. The closing of this
transaction will occur upon the approval of certain corporate
actions at the 2019 annual meeting.
On May 13, 2019, GAHC entered into a joint venture agreement
with Voting Portals, LLC (VP), a Florida limited liability company.
Pursuant to this agreement, the joint venture will be making
use of the VP online e-voting web portal solutions and proprietary
e-voting software programs to service and fulfill GES’s clients’
online elections and other e-voting events pursuant to the terms of
the agreement, as well as any other ventures and relationships
agreed to pursuant to the goals of the agreement. The Agreement was
amended and as part of this agreement, the GAHC will be issuing
10,000,000 common shares to VP for services rendered, upon approval
of the corporate actions at the 2019 annual meeting.
GAHC made its first investment into Distributed Ledger
Technology commonly known as Blockchain, almost four years ago on
October 20, 2015 with an investment into Blockchain Technologies
Corp.(BTC). On March 28, 2017 the United States Patent Office
issued patents to Blockchain Technologies Corporation covering
Election Intellectual Property;
US Patent #9,608,829, Issued March 28, 2017: System and Method
for Creating a Multi-Branched Blockchain with Configurable Protocol
Rules. GAHC is only an equity investor in BTC.
On June 19, 2019 GAHC announced the GAHC’s subsidiary Global
Election Services Inc., (GES) has signed an engagement letter with
Blockchain Valley Ventures (BVV) of Zug Switzerland. Under the
terms of the agreement GES will pay BVV CHF 50,000 and BVV will
serve as an advisor in connection with the development of a Voter
Registration, Voter Authentication, and Voter Eligibility software
platform using Distributed Ledger Technology. BVV will also
chair an extended workshop to develop a high-level technology
solution architecture and its requirements for the Distributed
Ledger Technology based voting registration platform with inputs
from third party Distributed Ledger Technology companies; provide
documentation of the results in order to provide a Working Paper
discussing an envisaged Distributed Ledger Technology platform
including a foundational flowchart, and implementation
recommendation. BVV will also provide legal facilitation with
respect to outside tax and legal advisors in connection with
compliance with local and international regulation. BVV is a Crypto
Valley, Switzerland based venture capital firm consisting of
finance experts, Distributed Ledger Technology experts with Utility
Coin, and Initial Coin Offering experienced analysts and
consultants. The documents created will be used by GES, to create a
Minimum Viable Product. This Product, along with GES licensing
rights on GES existing Registration and Tabulation Software will be
owned by GES, GAHC’s subsidiary.
The Company further announced on June 19, 2019 Global Election
Services Inc., (GES) entered into a Term Sheet to create a joint
venture with TrueVote, Inc. Under the terms of the agreement GES
will invest $50,000 by July 31, 2019 into a 24 Month Debenture and
issue a 3 year warrant exercisable at $0.01 for 4,500,000 common
shares of GAHC. Global Election Services Inc. will receive 3
million common shares of TrueVote, representing 30% of TrueVote
Inc. TrueVote, Inc. is building a comprehensive end-to-end,
decentralized, completely digital voting system. This will be based
on traditional, proven database methodologies, and layered with a
"checksum" that's posted on the Distributed Ledger Technology,
proving all data is immutable and unalterable. This design will
ensure that every vote is transparently counted and verifiable.
TrueVote's approach is to first write and publish an extensive
White Paper for peer review and start building the software based
on the design laid out in the white paper. TrueVote's code will be
completely open source, and TrueVote, Inc. will provide value-added
services. TrueVote is led by Brett Morrison and Ped Hasid. The
closing of this transaction will occur upon the approval of certain
corporate actions at the 2019 annual meeting.
Brett spent his time as Director of Enterprise Information
Systems at SpaceX. Brett co-founded Onestop Internet in 2003 out of
his garage and built the original e-commerce and warehouse
management software that started the company. Throughout his time
as Chief Technology Officer and Chief Innovation Officer at Onestop
he oversaw and managed its growth and architected and helped build
the new Onestop 2.0 platform. Prior to Onestop, Brett co-founded
one of the first photo sharing companies on the Internet,
ememories.com, which was sold to PhotoWorks, one of the largest
photo processing companies in the U.S. During ememories.comandmade
the move from Silicon Valley to Silicon Beach. Prior to that
success, Brett held executive technology positions with several
high-profile software companies. As an early employee and Chief
Architect at Scopus Technology (acquired by Siebel Systems, then
Oracle), Mr. Morrison was instrumental in designing
state-of-the-art call center and Customer Relationship Management
(CRM) software applications. Brett received a bachelor's degree in
interdisciplinary studies consisting of Computer Science,
Management Information Systems, and Communication from the
University of Arizona (Top 10 at the time of graduation).
Ped Hasid's career started in his early teens interning at tech
startups, while simultaneously attending school. Graduating UCLA
with Magna Cum Laude Honors in 2007 he launched multiple successful
IT service companies that leveraged his knowledge and expertise in
information systems and custom turnkey solutions for a wide array
of businesses applications. Ped was introduced to Bitcoin in 2011
reading the Satoshi Nakamoto whitepaper, igniting a force within
him to be more involved in the field of distributed ledger
technology & crypto-currency. Ped's passion led him to host
what would turn out to be one of the first Bitcoin meetups in
Silicon Beach, successfully introducing many individuals to the
world of crypto-currency and Distributed Ledger Technology. Ped
later went on to cofound Block26, a venture vehicle for the
Distributed Ledger Technology space established in 2014, leading
the technology and investment strategy for the firm. Block26 to
date has financed and incubated innovative projects that aim to
enhance consumer adoption of Distributed Ledger Technology.
On June 7, 2019, GAHC's second subsidiary, GAHI Acquisition
Corp. (GAHI) was authorized by the Board of Directors of GAHC to
infuse an initial deposit of $50,000 into the subsidiary for
general capital and administrative expenses. GAHI will be
repurposed in order to explore potential new business ventures in
an effort to increase shareholder value. GAHC will cause GAHI to
explore opportunities in the energy and minerals business, which
may provide investment opportunities, including the possibility of
providing blockchain technology software to energy and mineral
companies. GAHC added Mr. Jason N. Old to the GAHI Acquisition
Board as a Director.
John Matthews, the Chairman of GAHC stated, “The Board is
pleased with the progress of the proprietary election software
developed and implemented at GES. We believe Distributed Ledger
Technology will transform the election business and we are happy to
be at the forefront of this development.” Mr.Matthews further
stated,“ As events warrant, the Company will update shareholders on
each of the aforementioned individual relationships.”
About Global Arena Holding
Global Arena Holding, Inc. trades on the OTC Pink Sheets under
the ticker symbol GAHC. The Company has been publicly
traded since 2011 and holds a number of interests, including Global
Elections Services, Inc. and GAHI Acquisition Corp. The Company
focuses on developing Election technologies, patents and companies
having the ability to leverage the Distributed Ledger Technology.
For more information visit: http://globalarenaholding.com
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 StreetSuite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524
www.globalarenaholding.com
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