New York, NY, Nov. 02, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Global Arena Holding, Inc. (the “Company”) (OTC PINK: GAHC), announced today, that management will detail the software development project headed by Synectic Advisors (“Synectic”), to integrate the Company’s election software with the blockchain.
This announcement furthers an initiative to review and educate more than 11,000 GAHC shareholders on the Company’s current position 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 52nd Street, New York, New York 10022.
The Board has entered into an Application Development and Services Agreement (“Agreement”) with Synectic Advisors, a software company with 25+ years’ experience in executive management and corporate enterprise-quality software solutions development. Synectic has been at the forefront of blockchain and virtual currency development since 2009. The software company boasts an impressive in-house blockchain research and development team whom have an extensive working knowledge of developing blockchain interoperability solutions, enterprise applications utilizing virtual currencies, crypto security solutions, customized side-chain, and blockchain products.
Synectic is led by senior partners, Dennis Nadeau and Jon Dessel; both having excellent and highly distinguished careers encompassing advanced security technology, CIO leadership for a Fortune 500 sized company, and development of large-scale business applications. Through their leadership, Synectic will provide GAHC with both technological development services and innovative strategy design and guidance.
Under the terms of the Agreement, Synectic Advisors will review Global Election Services’ (“GES”) existing software, increase the ease to which systems can be operated, and assist in the planning and development of election registration software programs to be utilized with the Blockchain. The objective is to integrate the following election software programs with the Blockchain: Ballot Creation, Registration System, Scanning of Ballots, and Private Secure Cloud / Data Warehouse.
Under the terms of the Agreement, the Company will pay $85,000 in cash, 4.99% of the Company’s common stock and a 6% net revenue participation. Naturally, the Company will have the ability to complete this transaction more effectively post 1 for 4 reverse split of the Company’s outstanding common shares. This deal could greatly increase the overall value proposition of the Company and GES’ service offerings.
“As with the acquisition of GES, the Board believes the completion of this Synectic software development project for election integration with the blockchain is quintessential to the growth and expansion of GES, as well as its positioning as an industry leader in both the online voting and paper ballot voting segments of the marketplace,” said Mr. Matthews, CEO of Global Arena Holding. “This project affords GES the ability to expand its customer base, which could even include city municipalities and local government.”
Given the growth potential and increased value proposition created by this Synectic deal, as previously mentioned, the Board believes the adjusted 1 for 4 reverse split of the Company’s outstanding common shares is necessary to optimally propel the Company forward with this and other deals pending the outcome of the Annual Shareholder’s Meeting.
Mr. Matthews concluded, “I cannot reiterate this enough. The upcoming Annual Shareholder’s Meeting is an important one. The confidence of the marketplace hangs in the balance of our being able to complete deals like the Synectic software development project and the GES Acquisition. It is therefore important that shareholders are fully informed on all of the amazing opportunities pending the outcome of this Annual Shareholder’s Meeting and should feel free to contact GAHC to discuss and address any questions they may have.”
About Synectic
Synectic is a problem-solving technique that seeks to promote creative thinking among small groups of people. This term effectively describes the recognized success of the company to competitively position its clients to scalable growth. The Synectic Advisors team has built an undisputable stellar reputation in providing global advisory services bridging the gap between strategy design and execution of cutting-edge technology. The alignment between business strategy and operations automated through the use of technology is what distinguishes Synectic as a leading business advisory firm. Synectic Advisors consists of the best and brightest business leaders from numerous industries with best-in-class, advanced enterprise quality technology solutions that deliver the business of tomorrow today. Their practical approach allows businesses to achieve early wins while continuing to innovate for the future. They are proud to offer client services based on specific business requirements to position their clients for growth. Contact: Jon@SynecticAdvisors.com; http://synecticadvisors.com
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.
CONTACT:
Global Arena Holding, Inc.
208 East 51st Street
Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524