NEW YORK, NY, June 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Global Arena Holding, Inc. (the "GAHC") GAHC, announced today, that the Company has filed its first quarter financials.
GAHC's subsidiary, Global Election Services Inc. (GES), provides comprehensive technology-enabled election services to organizations such as labor unions, credit unions, colleges and universities, residential organizations and trade associations. GES' senior staff has been supervising elections since 1981, certifying its Labor elections with the U.S. Dept. of Labor. The Primary method of elections that GES administers is by Mail Ballot, however GES is also capable of administering elections over the Internet and complies with the Title IV rule of the U.S. Dept. of Labor of Office of Labor Management Standards.
GES has continued to develop a proprietary registration system to authenticate voter eligibility, and develop a proprietary tabulation software system utilizing advanced OMR/OCR/Barcode software featuring de-skewing, de-speckling and image correction.
As reported in the GAHC 1st Quarter filing, GAHC announced the following amendments to existing relationships, and announced the following new relationships;
On May 10, 2019, the GAHC entered into an Amended asset purchase agreement with Election Services Solutions, LLC (the "APA"). Under the APA, the GAHC will purchase 100% of the assets of Election Services Solutions, LLC. GAHC will pay $550,000, of which $501,150 has already been paid, and issue 20,000,000 common shares to purchase these assets under this APA. The Election Services Solutions customer list and senior management are responsible for much of GES core business. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
On May 13, 2019, the GAHC entered into an Amended Master Services Agreement with HCAS Technologies (the "MSA"). Under the terms of the MSA GAHC will issue a total of 30,000,000 warrants to purchase the GAHC common shares at a price of $0.005 as consideration for the services of HCAS and Mr. Magdiel Rodriguez. Under the terms of the MSA, Mr. Rodriguez will become the Chief Information Officer of GAHC. Mr. Rodriguez has over 25 years' experience in the areas of Information Security, Enterprise Risk Management and Compliance, Information Technology and Operations including 21 years with Visa Inc. where he performed as Senior Business Leader of Information Security. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
On May 13, 2019, GAHC entered into a joint venture agreement with Voting Portals, LLC (VP), a Florida limited liability company. Pursuant to this agreement, the joint venture will be making use of the VP online e-voting web portal solutions and proprietary e-voting software programs to service and fulfill GES's clients' online elections and other e-voting events pursuant to the terms of the agreement, as well as any other ventures and relationships agreed to pursuant to the goals of the agreement. The Agreement was amended and as part of this agreement, the GAHC will be issuing 10,000,000 common shares to VP for services rendered, upon approval of the corporate actions at the 2019 annual meeting.
GAHC made its first investment into Distributed Ledger Technology commonly known as Blockchain, almost four years ago on October 20, 2015 with an investment into Blockchain Technologies Corp.(BTC). On March 28, 2017 the United States Patent Office issued patents to Blockchain Technologies Corporation covering Election Intellectual Property;
US Patent #9,608,829, Issued March 28, 2017: System and Method for Creating a Multi-Branched Blockchain with Configurable Protocol Rules. GAHC is only an equity investor in BTC.
On June 19, 2019 GAHC announced the GAHC's subsidiary Global Election Services Inc., (GES) has signed an engagement letter with Blockchain Valley Ventures (BVV) of Zug Switzerland. Under the terms of the agreement GES will pay BVV CHF 50,000 and BVV will serve as an advisor in connection with the development of a Voter Registration, Voter Authentication, and Voter Eligibility software platform using Distributed Ledger Technology. BVV will also chair an extended workshop to develop a high-level technology solution architecture and its requirements for the Distributed Ledger Technology based voting registration platform with inputs from third party Distributed Ledger Technology companies; provide documentation of the results in order to provide a Working Paper discussing an envisaged Distributed Ledger Technology platform including a foundational flowchart, and implementation recommendation. BVV will also provide legal facilitation with respect to outside tax and legal advisors in connection with compliance with local and international regulation. BVV is a Crypto Valley, Switzerland based venture capital firm consisting of finance experts, Distributed Ledger Technology experts with Utility Coin, and Initial Coin Offering experienced analysts and consultants. The documents created will be used by GES, to create a Minimum Viable Product. This Product, along with GES licensing rights on GES existing Registration and Tabulation Software will be owned by GES, GAHC's subsidiary.
The Company further announced on June 19, 2019 Global Election Services Inc., (GES) entered into a Term Sheet to create a joint venture with TrueVote, Inc. Under the terms of the agreement GES will invest $50,000 by July 31, 2019 into a 24 Month Debenture and issue a 3 year warrant exercisable at $0.01 for 4,500,000 common shares of GAHC. Global Election Services Inc. will receive 3 million common shares of TrueVote, representing 30% of TrueVote Inc. TrueVote, Inc. is building a comprehensive end-to-end, decentralized, completely digital voting system. This will be based on traditional, proven database methodologies, and layered with a "checksum" that's posted on the Distributed Ledger Technology, proving all data is immutable and unalterable. This design will ensure that every vote is transparently counted and verifiable. TrueVote's approach is to first write and publish an extensive White Paper for peer review and start building the software based on the design laid out in the white paper. TrueVote's code will be completely open source, and TrueVote, Inc. will provide value-added services. TrueVote is led by Brett Morrison and Ped Hasid. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
Brett spent his time as Director of Enterprise Information Systems at SpaceX. Brett co-founded Onestop Internet in 2003 out of his garage and built the original e-commerce and warehouse management software that started the company. Throughout his time as Chief Technology Officer and Chief Innovation Officer at Onestop he oversaw and managed its growth and architected and helped build the new Onestop 2.0 platform. Prior to Onestop, Brett co-founded one of the first photo sharing companies on the Internet, ememories.com, which was sold to PhotoWorks, one of the largest photo processing companies in the U.S. During ememories.comandmade the move from Silicon Valley to Silicon Beach. Prior to that success, Brett held executive technology positions with several high-profile software companies. As an early employee and Chief Architect at Scopus Technology (acquired by Siebel Systems, then Oracle), Mr. Morrison was instrumental in designing state-of-the-art call center and Customer Relationship Management (CRM) software applications. Brett received a bachelor's degree in interdisciplinary studies consisting of Computer Science, Management Information Systems, and Communication from the University of Arizona (Top 10 at the time of graduation).
Ped Hasid's career started in his early teens interning at tech startups, while simultaneously attending school. Graduating UCLA with Magna Cum Laude Honors in 2007 he launched multiple successful IT service companies that leveraged his knowledge and expertise in information systems and custom turnkey solutions for a wide array of businesses applications. Ped was introduced to Bitcoin in 2011 reading the Satoshi Nakamoto whitepaper, igniting a force within him to be more involved in the field of distributed ledger technology & crypto-currency. Ped's passion led him to host what would turn out to be one of the first Bitcoin meetups in Silicon Beach, successfully introducing many individuals to the world of crypto-currency and Distributed Ledger Technology. Ped later went on to cofound Block26, a venture vehicle for the Distributed Ledger Technology space established in 2014, leading the technology and investment strategy for the firm. Block26 to date has financed and incubated innovative projects that aim to enhance consumer adoption of Distributed Ledger Technology.
On June 7, 2019, GAHC's second subsidiary, GAHI Acquisition Corp. (GAHI) was authorized by the Board of Directors of GAHC to infuse an initial deposit of $50,000 into the subsidiary for general capital and administrative expenses. GAHI will be repurposed in order to explore potential new business ventures in an effort to increase shareholder value. GAHC will cause GAHI to explore opportunities in the energy and minerals business, which may provide investment opportunities, including the possibility of providing blockchain technology software to energy and mineral companies. GAHC added Mr. Jason N. Old to the GAHI Acquisition Board as a Director.
John Matthews, the Chairman of GAHC stated, "The Board is pleased with the progress of the proprietary election software developed and implemented at GES. We believe Distributed Ledger Technology will transform the election business and we are happy to be at the forefront of this development." Mr.Matthews further stated," As events warrant, the Company will update shareholders on each of the aforementioned individual relationships."
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. The Company focuses on developing Election technologies, patents and companies having the ability to leverage the Distributed Ledger Technology. 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.
CONTACT: Global Arena Holding, Inc. 208 East 51st Street Suite 112 New York, NY 10022 kathryn@globalarenaholding.com Tel: 646-801-5524 www.globalarenaholding.com
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