New York, NY, Aug. 06, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Global Arena Holding, Inc. (the “Company”) (OTC Markets:GAHC), a growth oriented, acquisition minded company focused on specific niche markets offering exponential growth, is pleased to announce that on Thursday, August 12, 2021 at 4:30 p.m. (EDT), the Company will host a webinar to provide shareholders with clarity on discussion points to be voted on at the Company’s upcoming Annual Stockholders’ Meeting scheduled for September 7, 2021.
The Company will provide stockholders with the pertinent information to access this webinar within 48 hours of the scheduled event.
As previously announced, the Company mailed out a Proxy Packet to all of its Stockholders of record (as of July 8, 2021), giving notice of the Annual Stockholders’ Meeting scheduled for September 7, 2021. This Meeting will cover the following discussion points to be voted on:
- Re-election of members to the Board of Directors;
- Authorization of an increase in the Company’s authorized capital stock;
- Authorization of a reverse stock split of the outstanding common shares; and
- Ratification of the appointment of the Company’s independent registered public accounting firm
John S. Matthews, the Chairman and CEO of Global Arena Holding, Inc., stated, “We understand that sometimes subject matters such as those we’ll be voting on come September 7th, may tend to appear daunting. This is particularly the case when we’re discussing very important and rather sensitive matters such as a possible increase to the Company’s authorized capital stock and/or the possible reverse stock split of the outstanding common shares. These topics are the primary reason for the August 12th webinar.
“It is important that all of our voting and non-voting stockholders appreciate why we consider these actions as both necessary, and beneficial to the Company’s overall growth potential. We believe that after the August 12th webinar, stockholders may come to fully understand our interest in, and enthusiasm for, pursuing these options (possible increase to the Company’s authorized capital stock and/or the possible reverse stock split of the outstanding common shares).”
Management has indicated that in order for the Company to continue on its current trajectory, there are a number of pending deals and imminent opportunities that need to be consummated. These would include (but are not limited to) :
1. Amended asset purchase agreement with Election Services Solutions, LLC.
2. Management believes there is a unique opportunity in conducting United States and Foreign Government Elections. GES’ senior Management team’s primary business for 40 years has been mail/absentee ballot elections. In the U.S., there are 3,007 counties, 64 parishes, 19 organized boroughs, 11 census areas, 41 independent cities, and the District of Columbia, all of whom purchase updated Election Machines and Software. Each municipal county individually purchases election voting machines under the guidance of their own State’s Secretary of State. The United States Government, through the Elections Assistance Commission, certifies election software and hardware for use in U.S. Government Elections. The certification process usually takes approximately 6 months and companies applying for certification can spend up to $750,000.
The Company has engaged software and hardware developers, with whom GES is working to begin the qualification process for U.S. and various U.S. State certifications. This will require the hiring of additional technical software employees, and additional outside vendors who in initial discussions are interested in stock-based compensation.
3. Joint venture with TrueVote, Inc.— currently building a comprehensive end-to-end, de-centralized, completely digital voting system.
4. In 2020, the Company’s subsidiary, Global Election Services, Inc. (“GES”), developed, built and implemented a propriety online election voting solution that is compliant with Title IV of the United States Department of Labor Office of Labor-Management Standards. The platform enables GES to protect individual client data, including the ability to encrypt it, move it, and manage retention (if required).
5. GES is working to provide our current and future clients with the ability to create instant communication and feedback with their members, using any social media device available today. The company is building an interface for communication and connection to:
- Communicate a Message – An organization can get their message out clearly in the form required, without any unwanted media spin, bias, filtering, or comment.
- Fine Tune Policies – Test-drive policies and projects with immediate response, allowing for responsive adjustments to be made to make a message more acceptable to the community.
- Build a Positive Image – Enhancing the concept of ‘open communication’ and ‘democratic politics’, which leads to an enhanced positive perception of leaders by their constituents.
- Learn More About a Group – Learning more about a group’s preferences and opinions on an infinite number of topics can help the Organization, Institution or League and leaders better serve the community and meet their needs in a variety of ways.
Management understands the complexity of stockholders voting for the Authorization of an increase in the Company’s authorized capital stock as well as the Authorization of a reverse stock split of the outstanding common shares. However, opportunities such as these act as the key driver of management’s proposals; only to be used if needed. Furthermore, considering that the Company has entered into debt reduction arrangements (mentioned here and here), management believes that the ‘so-called’ toxic convertible debt obligations have been dramatically reduced and close to being eliminated — meaning, excessive dilutive conversions are not a driving factor in management’s contemplation of adjusting the capitalization table.
The fact is, there is just an unbelievable amount of distrust in voting companies by U.S. citizens due to the 2020 Presidential election. Management firmly believes this unfortunate reality may create a unique opportunity for the Company, whereby these proposals will be very helpful in ensuring the future growth of the Company.
Management would also like to take this opportunity to remind its stockholders that they previously voted for, and authorized the use of a reverse stock split, which management decided against using as the deals presented at the time were not believed to benefit the Company’s stockholders. To that end, management would like to reaffirm that the proposals sought for authorization would only be used if management and its outside legal and financial advisors agreed that any action, such as a reverse stock split, would be accretive and/or hold some other benefit to its stockholders.
Management is confident that the August 12th webinar (Thursday at 4:30 pm EDT) will provide stockholders with the insight they need to grasp the importance of the upcoming Annual Stockholders’ Meeting and the support that is needed from both voting and non-voting stockholders to help keep the Company on track for an exceptional 2022.
John Matthews concluded, “I’m looking forward to this webinar. Not only do I believe it is the right thing to do for our stockholders, but it will set the tone for the type of professionalism, commitment to stockholder inclusion and continued growth that can be expected from this management. I ask that all stockholders, along with anyone interested in our Company’s future, please attend our webinar on Thursday, August 12th at 4:30pm EDT.”
As always, management recommends reading the Company’s financials in their entirety and contacting the Company at any time with any questions.
For more information on these and other developments, please visit the Company’s website at: http://GlobalArenaHolding.com, where you can also access all SEC filings, as the Company continues to pursue a more effective investor relations initiative.
ABOUT GAHC
Global Arena Holding, Inc. trades on the OTC Markets, under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc., Tidewater Energy Group Inc., and GAHI Acquisition Corp. Please find the Company’s filings at SEC.gov
ABOUT Global Election Services, Inc. (GES)
Owned by Global Arena Holding Inc., GES provides comprehensive technology-enabled election services to organizations such as craft and trade organizations, labor unions, political parties, co-operatives and housing organizations, associations and professional societies, universities, pension funds and credit unions, and entertainment organizations. GES senior management has been supervising elections since 1981, having managed more than Eight Thousand Six Hundred (8,600) election projects involving over Forty Million (40,000,000) voters, certifying each labor election with the U.S. Department of Labor. The primary method of voting for GES elections is Paper Mail Ballots. No election supervised by GES or its senior management has ever been overturned by the U.S. Department of Labor. Management has an extremely strong reputation in the market and a very extensive, longtime customer list. Our mission is to help our clients conduct efficient, accurate, secure and less costly elections with greater participation. As a viable independent third party managing each election, we work to increase methods and rates of participation while maintaining the One Voter = One Vote Integrity that our management team has been committed to for nearly 4 decades.
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 St.
Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524
