Global Payout, Inc. Significantly Reduces Authorized Shares
October 28 2019 - 7:00AM
InvestorsHub NewsWire
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.
Media
Contacts:
Global Payout,
Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac
Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com
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