SAN DIEGO, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Global Payout, Inc. (OTCPink:GOHE) ("Global") is pleased to announce that through a variety of key strategic partnerships its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company"), has established over the past several months, the Company has effectively positioned itself to move forward with the co-launch of its regulatory compliant Token Offering. This Token will be aimed at offering businesses in the accelerating cannabis industry an effective decentralized payment system in an industry with limited payment options outside of cash. The Token Offering is on schedule and anticipated to launch in the first quarter of 2018.
With the current Administration's recent move to rescind an Obama-era memo that shielded legal cannabis users, growers, and distributors from federal prosecution, many business owners across the industry continue to find themselves in a situation where they must run their businesses on a cash-only basis leaving them extremely vulnerable to theft. This problem is growing exponentially, as the number of states where cannabis is now recreationally available has increased to eight and sales continue to exceed expectations.
MTRAC has been working diligently with a variety of partners in the financial technology and compliance sectors, such as Pegasus Fintech Inc., to develop the M-Token. The M-Token will aim to fill a massive gap that exists in a rapidly expanding multibillion dollar industry, where thousands of profitable businesses are denied access to banking systems and the multitude of basic, yet critical, solutions financial institutions provide businesses with.
Said MTRAC CEO, Vanessa Luna: "MoneyTrac's primary objective has been, and will continue to be, to serve the legitimate and profitable businesses of the cannabis industry by effectively addressing the financial technology and banking challenges they are faced with. Right now, one of the biggest and most daunting challenges they face is having to run their businesses strictly on cash. This is not only dangerous from a theft perspective, but not practical in terms of basic financial management solutions. Our regulatory compliant Token Offering will revolutionize how these businesses operate and help MTRAC further its objectives for identifying various partnerships and cultivating the relationships necessary to pave the way for alternative banking solutions."
MTRAC continues to dedicate significant time and resources towards the multi-faceted due diligence process that is required to ensure the Token Offering meets all regulatory compliance requirements prior to its official launch, and anticipates releasing more detailed information regarding the M-Token in the coming weeks.
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 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.
About MoneyTrac Technology
MoneyTrac Technology, Inc. is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions and provides all aspects of financial technology including E-Wallet and mobile apps services for businesses and companies in various "high-risk" industries. MoneyTrac's technology platform allows for its clients to access their financial information from anywhere in the world, in addition to providing tracking and compliance to help them manage and control the flow of all revenue through their business.
About Pegasus Fintech, Inc. www.pegasusfintech.com
Pegasus Fintech, Inc. is a Blockchain and Token Accelerator that focuses on supporting innovative solutions in the Financial Services, Technology, Blockchain and Cryptocurrency communities. Pegasus' Accelerator program deploys a team of highly skilled industry, marketing, legal and financial specialists that provide evaluation, management, marketing programs, resources and tools to affect the growth of the business and create and execute the Blockchain and regulatory compliant, security-based Token programs for its clients. Pegasus also provides support services for client initiatives with investment banking, private equity and the democratized investment community.
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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