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.
GES is on track with its election software programmers to file applications with the Election Assistance Commission in 2021. Upon obtaining a successful certification, GES will be permitted to market its products to United States municipal governments. GES has been intently focused on deploying capital to the development of its proprietary Voter Registration and Voter Tabulation software. While this software and process was successfully deployed in the North Dakota Democratic-NPL Presidential Primary election, current events have encouraged GES to further tweak its software and process to ensure better preparedness for future opportunities.
The Company’s Management anticipates continued growth and opportunity from GES, seeing the value potential in its proprietary software and the future in its online operations.
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.
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
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 Five Hundred (8,500) 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.
Global Arena Holding, Inc.
208 East 51st St.
New York, NY 10022
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