New York, NY, Aug. 11, 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 the Company has filed the 10-Q for the quarter ended June 30, 2021; reminding stockholders to attend the webinar:
When: Aug 12, 2021, 4:30 PM Eastern Time (US and Canada)
Topic: GAHC Shareholder Update Discussion
Please click the link below to join the webinar:
https://us06web.zoom.us/j/87316475143
Or One tap mobile:
US: +19292056099, 87316475143# or +13126266799, 87316475143#
Or Telephone:
Dial (for higher quality, dial a number based on your current location):
US: +1 929 205 6099 or +1 312 626 6799 or +1 301 715 8592 or +1 669 900 6833 or
+1 253 215 8782 or +1 346 248 7799
Webinar ID: 873 1647 5143
International numbers available: https://us06web.zoom.us/u/kqQQqFyZn
The 10-Q for the quarter ended June 30, 2021 reflects management’s continued effort to grow the Company at a steady and disciplined pace. Financial highlights include but are not limited to:
- Revenue increased 51% to $350,676 for the second quarter as compared to $232,237 in the second quarter of 2020.
- Losses from operations decreased 41% to $193,016 as compared to $329,901 in the corresponding quarter last year.
- Net loss was $102,388, a decrease of 92% from a net loss of $1,323,178 in the second quarter of 2020.
Management reported that revenues for the six months ended June 30, 2021, reflected $585,261 as compared to $340,666 for the same six-month period in 2020. Management also attributes the substantial decline in net losses to a significant reduction in the change in fair value of the derivative liability. This is partly due to the Company having entered into debt reduction arrangements (mentioned here and here). These debt reduction arrangements dramatically reduced the ‘so-called’ toxic convertible debt obligations meaning that excessive dilutive conversions no longer weigh down the Company’s financials.
It is management’s intention to, amongst other topics, touch on the Company’s financials and speak to its current trajectory during the upcoming webinar that stockholders can access on Thursday, August 12, 2021, at 4:30 p.m. (EDT), using the following link:
https://us06web.zoom.us/j/87316475143
Or One tap mobile:
US: +19292056099, 87316475143# or +13126266799, 87316475143#
Or Telephone:
Dial (for higher quality, dial a number based on your current location):
US: +1 929 205 6099 or +1 312 626 6799 or +1 301 715 8592 or +1 669 900 6833 or
+1 253 215 8782 or +1 346 248 7799
Webinar ID: 873 1647 5143
International numbers available: https://us06web.zoom.us/u/kqQQqFyZn
As previously announced, this webinar is primarily meant to provide stockholders with clarity on those discussion points to be voted on at the Company’s upcoming Annual Stockholders’ Meeting (September 7, 2021). These discussion points are:
· 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., previously 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 stockholders are reminded 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 re-affirm 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) — accessible here: https://us06web.zoom.us/j/87316475143 — 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 look forward to having this very important webinar and request that all stockholders, along with anyone interested in our Company’s future, please attend.”
As always, management recommends reading the Company’s financials in their entirety and contact 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.
GAHC ZOOM WEBINAR
When: Aug 12, 2021, 04:30 PM Eastern Time (US and Canada)
Topic: GAHC Shareholder Update Discussion
Please click the link below to join the webinar:
https://us06web.zoom.us/j/87316475143
Or One tap mobile:
US: +19292056099, 87316475143# or +13126266799, 87316475143#
Or Telephone:
Dial (for higher quality, dial a number based on your current location):
US: +1 929 205 6099 or +1 312 626 6799 or +1 301 715 8592 or +1 669 900 6833 or
+1 253 215 8782 or +1 346 248 7799
Webinar ID: 873 1647 5143
International numbers available: https://us06web.zoom.us/u/kqQQqFyZn
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
