NEW YORK, NY -- March 06, 2023 -- 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 its operating subsidiary, Global Election
Services, Inc (GES) has completed its investment into TrueVote,
Inc.
TrueVote, Inc. is developing a comprehensive end-to-end,
decentralized, completely digital voting system. The TrueVote
Voting System will be based on traditional, proven database
methodologies and layered with a “checksum” that is posted on the
blockchain, proving all data is immutable and unalterable.
On February 27, 2023, GES entered into a First Amendment to a
Convertible Promissory Note originally dated December 20, 2019. The
related Stock Purchase Agreement signed December 19, 2019, wherein
GES received 3,000 common shares of the 10,000 common stock
outstanding of TrueVote remained unchanged.
Pursuant to the First Amendment to a Convertible Promissory
Note, the following material items were revised:
-
The issuance date of the Note was amended from December 20,
2019, to February 27, 2023, and all references to the date of the
Note therein shall be deemed to be February 27, 2023, and the new
Maturity Date” shall mean June 27, 2024.
-
Further, GES has forgiven the previous Fifty Thousand Dollar
($50,000) Note unless TrueVote has one of the following conditions
met prior to the Maturity Date:
-
An Event of Default described in Section 6(a)(i) and in Section
6(a)(ii) occurs; or
-
Borrower issues ownership interests of Borrower that result in
the ownership percentage of GES Borrower to be less than 15% of the
total ownership of Borrower.” GES would then be entitled to the
principal sum of Fifty Thousand Dollars ($50,000), together with
interest at the annual rate of 1.25% compounded annually, if, and
only if, one of the preceding conditions is met prior to the
Maturity Date.
As part of the First Amendment to a Convertible Promissory Note,
GES issued new GAHC warrants to the Principals of True Vote Inc.,
Brett Morrison and Ped Hasid. The warrants were issued on February
27, 2023, and each individual is entitled to exercise the warrants
to purchase a maximum of 2,250,000 (Two Million, Two Hundred Fifty
Thousand) fully-paid and non-assessable shares of the GAHC Common
Stock, par value $0.001 per share at an exercise price of $0.0012
per Share, replacing a previous conversion price of $0.01. The
warrants are exercisable for a period of two years from the
issuance date.
We are happy to share positive progress from one of our
strategic partners, TrueVote, Inc. TrueVote CEO Brett Morrison
reports: "We are passionate about adding open source, voting
transparency to the world with traceable, tamper-proof ballots.
It's time we vote on our phones. TrueVote plans on releasing an
alpha version of our complete voting platform in early summer."
GES would like to highlight that on June 1, 2021, CEO Brett
Morrison published a white paper, TrueVote: A Transparent
Electronic Voting System validated by the Bitcoin Blockchain.
Click here to read the white
paper.
TrueVote is co-founded and directed by Brett Morrison and Ped
Hasid. For more information on the company, visit their website
at truevote.org.
Brett Morrison has been programming since age 12, first on an
Atari 400. Today, he’s full-application development stack,
full-infrastructure stack, and full-executive stack. Self-made,
seasoned, C-level senior technology leader and serial entrepreneur.
“Innovate or die” and “Always be learning something new” are tenets
that guide personal growth.
Prior to TrueVote, recently, Brett has consulted, invested, and
advised for small and medium sized companies in mobile and
enterprise systems, as well as mentored young engineers. Brett also
spent some time as Director of Enterprise Information Systems at
SpaceX. His biggest professional achievement though was as an
e-commerce pioneer, getting brands online and creating a new
channel for sales at the beginning of the e-commerce boom.
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 served e-commerce brands
including Von Dutch, Lululemon, True Religion, 7 For All Mankind,
Rag & Bone, Frye Boots, and more as Onestop grew to over 250
employees.
Brett also spent some time in the Entertainment industry, and
produced two feature films, including THE COOLER, which garnered
critical praise and an Oscar nomination for best supporting
actor.
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 time of
graduation).
Ped Hasid’s fascination with technology began at a young age in
the era of x86 computing systems. Being fortunate enough to start
his technology career in his early teens, Ped worked at various
startups and was surrounded by successful entrepreneurs and
technologists while simultaneously attending school. Once
graduating from UCLA with Magna Cum Laude Honors in 2007, Ped
decided to continue working in the internet technology sector by
acquiring Artnet, a boutique webhosting & design firm. Ped
expanded Artnet to become a digital agency which provided
information technology and cloud services to a vast array of small
business clientele. This allowed Ped to leverage his knowledge and
expertise in information systems by designing custom turnkey
solutions for a wide array of businesses applications.
2011 was a pivotal year for Ped after reading the Bitcoin white
paper by Satoshi Nakamoto. He became convinced that blockchain and
cryptocurrency would become the next digital frontier following the
internet and a force for good. Ped dedicated the next few years to
studying Bitcoin and blockchain technology, which led his eventual
pivot into the world of Fintech.
Prior to TrueVote, Ped co-founded Block26 in 2014 as a
technology incubator and family office, investing in blockchain
startups and teams. As its managing partner, Ped placed Block26 on
the map by strategically working and supporting entrepreneurs
involved in the decentralization movement. Ped currently serves on
the executive boards of TrueVote, Block26, and Edge Wallet.
Management believes that this online system – based on proven
database methodologies, layered with a "checksum" posted on the
Blockchain – could potentially position GES as a major contributor
in the evolution of electronic online voting in the future.
GES President, Kathryn Weisbeck, said, “We are very excited to
be working with TrueVote to utilize advanced technology to securely
facilitate ease of voting in the future while maintaining
the one voter = one vote integrity that our
management team has been committed to for over 4 decades.”
For more information on these and other developments, please
visit the Company’s website at: 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 Election 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 has developed
proprietary election software for absentee/mail ballot and
in-person voter registration and paper ballot scanning/tabulation
utilizing OMR/OCR barcode system featuring de-speckling, de-skewing
and image correction. In 2020 GES developed, built and implemented
a proprietary online election voting solution that is compliant
with Title IV of the United States Department of Labor Office of
Labor Management Standards (OLMS). 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.
GES has begun undertaking the steps to qualify for the updated U.S.
Elections Assistance Commission (EAC) certification to conduct
Government Elections in the U.S. and worldwide. 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. For more information, visit our website at:
voteGES.com
ABOUT TrueVote
TrueVote’s goal is to improve the integrity, accessibility, and
security of elections worldwide through innovative software
solutions. Built using cutting-edge technology and secured by the
Bitcoin blockchain, TrueVote aims to make voting more accurate and
secure, while advocating the use of open-source technology. To
ensure a true democracy, what’s needed is an open, fully digital,
tamper-proof, verifiable system. TrueVote is designed to fill that
need and to make sure every vote counts. Visit TrueVote.org to read
our White Paper.
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.
Kathryn Weisbeck
646-801-5524
kathryn@globalarenaholding.com
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