Global Payout, Inc. Significantly Reduces Authorized Shares
SAN DIEGO, CA -- October 28, 2019 -- InvestorsHub NewsWire -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that, as part of an ongoing effort to restructure the Company, the Directors (with the written affirmation of the majority of shareholders) have reduced the total authorized common shares by a factor of ten, to 400,000,000.
“Over the last year we have taken steps to restructure the Company with the intention to gain some real momentum in the market,” Said Global Payout CEO Vanessa Luna. “The real restructuring began as soon as I took over and changed drastically the method by which this company is funded, and as a result we have significantly reduced the future debt burden associated with raising capital. Further, we significantly reduced the number of outstanding shares by way of a 100-1 reverse split in July, and this reduction in the authorized represents another step in moving the Company to a reasonable Capitalization structure that is attractive to both new private investors and free-market shareholders.”
Global Payout continues to work on completing its audit to prepare for filing the Form-10 and will continue to keep shareholders updated.
About Global Payout, Inc. (OTC Pink:GOHE)
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.”
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101