Global Arena Holding Moves Forward With Shareholder Approved Proposal
New York, NY, Nov. 04, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Global Arena Holding, Inc. (“the Company” or “GAHC”) (OTC PINK: GAHC ), announced today, that the Company’s Board of Directors has authorized its subsidiary, Global Election Services, Inc. (“GES”), to move forward with completing the asset purchase of Election Services Solutions, LLC.
On May 10, 2019, the Company entered into an Amended Asset Purchase Agreement (“APA”) with Election Services Solutions. Election Services Solutions, LLC, is an international operator of elections, providing complete member management solutions for unions and offering election services to municipalities and private organizations using various modes of operations including; mail ballots, in-person and Online voting. Under the amended APA, the Company will purchase 100% of the assets of Election Services Solutions for $550,000 – paid in a combination of GAHC stock and/or cash.
The Company’s shareholders approved this action, along with a number of other proposals, at the October 11, 2019 Shareholder Meeting, causing the Board of Directors to authorize management to complete the acquisition of Election Services Solutions under the terms of the APA. To date, $501,150 of the $550,000 purchase price has been paid to Election Services Solutions, with the remainder to be paid in the Company’s common stock. GAHC will issue 20,000,000 common shares to complete the purchase of Election Services Solutions’ assets.
John S Matthews, Chairman of the Board of GAHC, stated, “With the acquisition of the assets of Election Services Solutions, along with the proprietary software developed by GES, I believe that as GES furthers its growth in 2020, the Company will be able to continue nurturing nearly four decades of trusted client relationships established by GES’ CEO, Ms. Maralin Falik.”
Since 1981, Maralin Falik, formally of Election Services Solutions, has been supervising elections and certifying Labor elections with the U.S. Dept. of Labor, Office of Labor Management Standards. As noted by Mr. Matthews, Ms. Falik’s impeccable tenure has afforded her the ability to work with many locals representing The International Brotherhood of Teamsters, The Communication Workers of America, LiUNA, Utility Workers Union of America, International Union of Operating Engineers, UNITE-HERE and Transport Workers Union of America – to name a few. With Ms. Falik at the helm, GES administers elections by supervising mail ballot, walk in registration and balloting, and elections over the Internet, or a combination of the three. All of GES’ election technology and systems, including its Internet platform, is Title IV compliant under the U.S. Dept. of Labor of Office of Labor Management Standards.
Mr. Matthews concluded, “With that, I am pleased to announce that GES has been retained to supervise a number of organized labor elections in 2020, as well as the mail balloting and in-person elections for a State Democratic 2020 Primary. I believe that if we continue to secure opportunities like this, especially while continuing with the development and implementation of our proprietary election systems and software, our value proposition to both local and State organizations will speak for itself – making our long-term growth potential immeasurable.”
GAHC will continue to update its shareholders on the remaining proposals over the next 2 weeks.
GES’ proprietary election software is a data storage and retrieval registration system that determines voter eligibility and prevents duplicate votes. Capabilities also include in-person digital signature capture, along with scanning / tabulation software which utilizes advanced OMR/OCR/Barcode imaging, featuring de-skewing, de-speckling and image correction. The system provides 3 types of audit capabilities and is bundled with complementing hardware. Hardware includes high-speed optical scanners hard lined to computers (disabled Wi-Fi) to ensure that the offline tabulation process is not compromised and is resistant to hacking.
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.
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.
Global Arena Holding, Inc.
208 East 51stStreet
New York, NY 10022