NEW YORK, NY, Oct. 22, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Global Arena Holding, Inc. (the “Company”) (OTC PINK: GAHC), announced today, that the company has launched an initiative to further review and educate its 11,046 shareholders on the current position of the Company and the growth opportunities that could potentially emerge from the upcoming Annual Meeting of Stockholders (“Annual Shareholders Meeting”); November 16th, 2018 at 9:00 a.m. (EST), at the Hilton Garden Inn/Manhattan East, located at 206 East 52ndStreet, New York, New York 10022.
Management suggested that the first subject matter needing immediate review and understanding by shareholders is the Company’s core business; Global Election Services Inc. and the necessity to complete the acquisition of Elections Services Solutions LLC.
Global Election Services, Inc. (“GES”), a subsidiary of GAHC, operates as the Company’s only revenue source. GES has accessed the majority of its current business through Election Services Solutions Inc. and has produced gross sales of $1,986,748 since its inception as a result of the relationship. GES has entered into an Asset Purchase Agreement (“APA”) to purchase 100% of the assets of Election Services Solutions. In order to complete this acquisition, the Company must pay, $500,000 – of which $466,150 has already been paid – and issue 12,500,000 restricted common shares to ESS, post-split.
The Board of GAHC believes that the GES APA with Election Services Solutions is not only about the referral of business, but the acquisition of critical management experience, knowledge and knowhow, and software development. John S. Matthews, Chairman of GES stated, “Marlin Falik, our current CEO of GES, comes to us from Election Services Solutions and has more than thirty-five years experience in election administration, helping to manage and conduct over eight thousand five hundred elections, the majority being mail ballot elections involving over 40,000,000 voters. Maralin’s expertise in elections is second to none having worked from 1981-1999 at the Honest Ballet Association, a not-for-profit organization founded by Theodore Roosevelt, where she was Executive Director.”
Mr. Matthews further commented, “The current discussion on voter eligibility and the use of paper ballots in US elections, as recommended by the United States Senate on Select Intelligence Committee, opens up numerous possibilities for GES’ growth in 2019 once it completes the full acquisition of Election Services Solutions, LLC.”
Mr. Matthews continued, “The Board believes the completion of this acquisition is vital to the future growth of the Company. The venture between GES and Election Services Solutions affords the Company consistent and scalable revenue. It also positions GAHC to develop and deploy a number of growth strategies that are highly impactful to shareholder confidence.
“Without the core business of GES firmly in place, it will be a challenge for GAHC to continue growing at the pace we envision.”
Given this, management firmly believes that the adjusted 1 for 4 reverse split of the Company’s outstanding common shares, is necessary. Without this action, it will be nearly impossible to complete the acquisition of Election Services Solutions in conjunction with a view to deploy the Company’s growth model. The Company needs to remain in good standing with the APA in order to retain GES’ revenue.
With this new ‘review and educate’ initiative, management intends to list and detail over the next three weeks, all of its pending transactions – such as the aforementioned APA. Management will communicate this through an updated marketing campaign. Management also encourages shareholders to contact the Company by calling or email.
Mr. Matthews concluded, “This Annual Shareholder’s meeting is an important one. The confidence of the marketplace hangs in the balance of how well shareholders understand the Company’s current position. Therefore, no question is too big or small for our team to address.”
The Company will speak to its amazing software development project with Synectic Advisors in the next review of GAHC’s growth opportunities project review.
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. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
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.