Global Arena Holding Moves Forward With Shareholder Approved Proposal
November 04 2019 - 8:55AM
InvestorsHub NewsWire
Global Arena Holding Moves Forward With Shareholder Approved
Proposal
New York, NY -- November 4, 2019 -- InvestorsHub
NewsWire -- Global Arena Holding,
Inc.(“the Company” or “GAHC”) (OTC PINK: GAHC), announced today, that the Company’s
Board of Directors has authorized its subsidiary, Global Election
Services, Inc. (“GES”), to move forward with completing
the asset purchase of Election Services Solutions,
LLC.
On May 10, 2019, the Company entered
into an Amended Asset Purchase Agreement (“APA”) with Election
Services Solutions. Election Services Solutions, LLC, is
an international operator of elections, providing complete member
management solutions for unions and offering election services to
municipalities and private organizations using various modes of
operations including; mail ballots, in-person and Online voting.
Under the amended APA, the Company will purchase 100% of the
assets of Election Services Solutions for $550,000 – paid in a
combination of GAHC stock and/or
cash.
The Company’s shareholders approved
this action, along with a number of other proposals, at the October
11, 2019 Shareholder Meeting, causing the Board of Directors to
authorize management to complete the acquisition of Election
Services Solutions under the terms of the APA. To
date, $501,150 of the $550,000 purchase price has been paid
to Election Services Solutions, with the remainder to be
paid in the Company’s common stock. GAHC will issue
20,000,000 common shares to complete the purchase of Election
Services Solutions’
assets.
John S Matthews, Chairman of the
Board of GAHC, stated, “With the acquisition of the assets of
Election Services Solutions, along with the proprietary software
developed by GES, I believe that as GES furthers its growth in
2020, the Company will be able to continue nurturing nearly four
decades of trusted client relationships established by GES’ CEO,
Ms. Maralin Falik.”
Since 1981, Maralin Falik, formally
of Election Services Solutions, has been supervising
elections and certifying Labor elections with the U.S. Dept. of
Labor, Office of Labor Management Standards. As noted by
Mr. Matthews, Ms. Falik’s impeccable tenure has afforded her the
ability to work with many locals representing The International
Brotherhood of Teamsters, The Communication Workers of America,
LiUNA, Utility Workers Union of America, International Union of
Operating Engineers, UNITE-HERE and Transport Workers Union of
America – to name a few. With Ms. Falik at the helm, GES
administers elections by supervising mail ballot, walk in
registration and balloting, and elections over the Internet, or a
combination of the three. All of GES’ election technology and
systems, including its Internet platform, is Title IV compliant
under the U.S. Dept. of Labor of Office of Labor Management
Standards.
Mr. Matthews concluded, “With that,
I am pleased to announce that GES has been retained to supervise a
number of organized labor elections in 2020, as well as the mail
balloting and in-person elections for a State Democratic 2020
Primary. I believe that if we continue to secure opportunities like
this, especially while continuing with the development and
implementation of our proprietary election systems
and software, our value proposition to both local and State
organizations will speak for itself – making our long-term growth
potential
immeasurable.”
GAHC will continue to update its
shareholders on the remaining proposals over the next 2
weeks.
Proprietary
Software
GES’ proprietary election software
is a data storage and retrieval registration system that determines
voter eligibility and prevents duplicate
votes. Capabilities also include in-person digital
signature capture, along with scanning / tabulation software which
utilizes advanced OMR/OCR/Barcode imaging, featuring de-skewing,
de-speckling and image correction. The system provides 3
types of audit capabilities and is bundled with complementing
hardware. Hardware includes high-speed optical scanners
hard lined to computers (disabled Wi-Fi) to ensure that the offline
tabulation process is not compromised and is resistant to
hacking.
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.
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
51stStreet
Suite
112
New York, NY
10022
kathryn@globalarenaholding.com
Tel:
646-801-5524
www.globalarenaholding.com
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