Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024

NEW YORK, NY, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Global Arena Holding, Inc. (the “Company”) (OTC Markets: GAHC), a growth oriented, acquisition minded company currently focused on the Election Administration segment of the US Private Markets, is pleased to announce that the Company has filed the 10-K for 2023 and its 10-Q for the quarter ended March 31, 2024. 

Both the 10-K for 2023 and the 10-Q for the quarter ended March 31, 2024 reflect management’s continued effort to grow the Company at a steady and disciplined pace. 
Financial highlights for the 10-K 2023 include but are not limited to: 

•  Revenue increased 19% to $826,700 in 2023 as compared to $697,060 as reported in the 10-K for 2022.
•  Salaries and Benefits decreased 67% to $264,909 in 2023 as compared to $809,048 as reported in the 10-K for 2022.
•  Losses from operations decreased 63% to $382,182 as compared to $1,025,427 as reported in the 10-K for 2022.
•  Net loss was $1,192,260, a decrease of 30% from a net loss of $1,711,197 as reported in the 10-K for 2022.

Financial highlights for the 10-Q, quarter ended March 31, 2024 include but are not limited to: 

•  Revenue increased 54% to $232,123 for the first quarter as compared to $106,192 in the first quarter of 2023.
•  Salaries and Benefits decreased 276% to $43,967 in the first quarter as compared to $165,378 in the first quarter 2023.
•  Losses from operations decreased 78% to $179,245 as compared to $319,933 in the first quarter of 2023.
•  Net loss was $131,018, a decrease of 302% from a net loss of $526,395 in the first quarter of 2023.

John S. Matthews, the Chairman and CEO of Global Arena Holding, Inc., stated, “We are pleased with the continued growth of our operating subsidiary Global Election Services, and its development of unique proprietary Election Software and Hardware.”  Mr. Matthews further commented, “Management is committed to growing Global Election Services Inc., and will seek to increase shareholder value through potential acquisitions, the reorganization of the Company’s balance sheet, and potential sale of assets.”