Global Arena Holding Files 10-Q as Subsidiary Global Election Services Highlights Growth Opportunity
New York, NY, Nov. 19, 2020 (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 its 3rd
Quarter 10-Q as management prepares to assist its subsidiary, Global Election Services, Inc. (“GES”), with further expansion into government elections.
Management is excited about the growth opportunities GES represents, as:
First, revenues for the three months ended September 30, 2020 were $136,035, contributing to the $476,438 already generated year-to-date. This is a 26% increase from the same period in 2019. Equally inspiring, as noted on the balance sheet, is $270,265 that is expected to be received from the ‘Deferred Revenue’ for the three months ended September 30, 2020. This is more than a roughly 2,000% increase from the same period in 2019. Also, the annual revenue for 2019 totaled $477,773. This is only $1,335 more than the $476,438 already generated as of the 3rd quarter 2020, year-to-date.
Second, GES continues to leverage the expertise of its senior management and its Proprietary Election Registration and Tabulation Software to administer election services to organizations such as labor unions and trade associations throughout the United States and abroad. GES will continue to bid on additional contracts in these areas.
Third, through the Company’s financial investment in TrueVote, Inc., a comprehensive end-to-end, de-centralized, digital voting system is being developed. Management believes that this online system – based on proven database methodologies, layered with a "checksum" posted on the Blockchain – could potentially position GES as a major contributor in the evolution of electronic online voting in the future.
Lastly, management believes the approximately 3,080 local municipal Boards of Elections located throughout the United States, who are responsible for managing the election process under State laws, will re-enter the marketplace for absentee/Mail ballot registration and tabulation software systems. As more states increase the adoption of absentee and/or mail-in ballots as an effective option, the likelihood that GES may be retained by municipal jurisdictions grows larger. Management believes that this could afford GES the ability to increase its absentee, mail-in ballot and in-person election services with a broader expansion into government elections.