Highest Grossing Quarter: Global Payout More than Doubles Revenue
SAN DIEGO, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink: GOHE ) (“Global” or the “Company”) is very pleased to announce that their Third Quarter Disclosure has been published on OTC Markets and shows a significant increase in revenue over Q2 of this year. Gross revenue nearly tripled and net revenue more than doubled over the previous quarter.
“We are extremely pleased with the revenue figures we have posted for the third quarter. The objective for 2019 has been to create a sustainable revenue stream for the Company which, in my opinion, we have achieved with MTrac. I am regularly encouraged by the resiliency my team continues to demonstrate in navigating the many different challenges of providing sustainable financial services within the Cannabis industry,” said Global Payout CEO, Vanessa Luna. “With 2020 on the horizon we are focused on diversification opportunities for Global Payout that will translate, we believe, into more revenue streams for our Company and keep us on our path to profitability. We have dedicated extensive resources to rebuilding the foundational structure of Global Payout and truly believe that these efforts will culminate when we complete the audit and file our Form 10 Registration statement.”
The Company plans to focus the remainder of the year on continued efforts in banking, software developments, and system enhancements, in addition to guiding its ongoing two-year audit to completion. We intend to continue to keep the public apprised of our progress as these develop.
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. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.” 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 disclosed on the OTC Markets.com website. Media Contacts: