SAN DIEGO, June 13, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Global Payout, Inc. (GOHE) (“Global”, the “Company”) is very pleased to announce that as part of the reverse triangular merger the Company is completing with MoneyTrac Technology, Inc. (“MTRAC”) announced publicly on June 5, 2018, MTRAC will be integrating its existing Executive Management Team into Global as part of MTRAC’s transition into the public entity. As part of this integration and transition, longtime Executives and Board Members of Global, Mr. Joseph Sebo “CFO” and Mr. Bill Rochfort, “President” have submitted their resignations from both their respective positions and their seats on Global’s Board of Directors. Additionally, Mr. James Hancock has submitted his notice of resignation as Global’s Chief Executive Officer and Chairman of the Board of Directors effective June 12, 2018 and he will be simultaneously appointing Ms. Vanessa Luna, who has served as MTRAC’s CEO and Chairman since the beginning of the year, to take on the position of CEO and Chairman of Global Payout, Inc. Accompanying Ms. Luna will be Mr. David Flores as Chief Operating Officer / Interim CFO and Board Member, and Mr. Aaron Adler as Chief Revenue Officer and Board Member. The Company intends to fill the positions of CFO and Chief Compliance Officer in the coming weeks.
As MTRAC transitions onto a public platform to strengthen its intended position as a financial technology powerhouse within a number of growing industries, the Company recognizes the importance of ensuring it has the most effective executive management team in place to support and facilitate its ongoing growth. Mr. Hancock, Mr. Sebo, and Mr. Rochfort have each provided Global with invaluable service over the past several years and have helped to position Global for this reverse triangular merger with MTRAC. Going forward, however, the Company believes that Ms. Luna is the leader the Company needs to drive the introduction of its revolutionary blockchain technology-supported MTRAC payment solution that is “The Key to Cashless™.”
“The moment Ms. Luna joined the Global Payout team in 2016 as a Business Development Consultant it became apparent that her business savvy, vision, and leadership would be a tremendous asset to our Company,” said former CEO of Global Payout, James Hancock. “For nearly two years I have had the pleasure to work alongside her and it is absolutely impressive the phenomenal job she has done in such a short amount of time to move MoneyTrac into the position it is in today. She has successfully cultivated several working relationships and has been the driving force behind MTRAC over the last two years. For this reason, I truly believe there is no one more qualified for me to pass the baton to, and follow Global Payout now as a Shareholder, and original Founder. I believe she will help lead this Company into its most exciting journey yet, and she and her team will always have my full support and unwavering confidence in their abilities. It has truly been my pleasure to serve on the Board and as Global’s CEO. I want to thank the shareholders for their support and it is with my greatest pleasure that I now resign,” stated Mr. James Hancock.
“I am extremely grateful and honored to be given the opportunity to carry MTRAC into the public eye and am thankful to Mr. Hancock for his steady guidance during this transition period,” said Global CEO Vanessa Luna. “I am committed to building value for both current and future Global Payout shareholders who continue to embark on this journey with us. I am excited for the opportunity to continue to lead a seasoned and highly talented team of professionals who strive to deliver quality solutions to market. Our clients are our priority and together we are working to understand the challenges they face and identify how we can best integrate to make MTRAC the best available solution out there. With advances in financial technology the possibilities are limitless, and I intend to explore each and every one of them. I plan to keep our shareholders informed along the way with news surrounding our continued progress and successes and look forward to the challenges and milestones to be met. I am convinced that both myself and my team will strive to be an agent of change by empowering people, businesses, and new industries to move the world forward through cashless alternative solutions and advanced technology offered through MTRAC and its partners.”
Additionally, the Company would like to update shareholders on the status of the 506c PPM raise launched on March 6, 2018 known as the MTRAC-Token. The raise has been closed due to the merger, which was not expected at the time of the launch. Given that the Company will effectively be going public, it has elected to internally close the existing PPM and complete the merger with fair market value to existing MoneyTrac Shareholders and Investors.
Any questions regarding current Global Payout holdings can be sent to information@globalpayout.com.
About MoneyTrac Technology
MoneyTrac Technology, Inc. (MTRAC) is a “New Age Technology Holding Company” offering a full-service solution for alternative banking and electronic financial marketplace with technology offerings including Payment Platform, Blockchain, Crypto-Commodity Exchange, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions for businesses and companies in various “high-costs of banking” industries. MTRAC offers additional suites of services ranging from business development, sales and marketing, to digital and print advertisement. We are One Network disrupting the status quo. It is MTRAC’S creative vision to create a “The New Age of Currency™” by bringing innovative technology solutions to various industries and providing the “Key to Cashless™."
About Global Payout, Inc.
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
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 contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
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