via OTC PR WIRE — Global Payout Inc. (OTCPink:GOHE) (“Global”) is pleased to announce that, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”), of which Global is a significant shareholder (currently 18% ownership), announced today that they have structured a reverse triangular merger agreement (the “Agreement”) with Global whereby MTRAC will be the post-merger operating entity.
The last year and a half has proven to be both game changing and exceptionally productive for MoneyTrac Technology. Initially launched in 2015 as a subsidiary to Global, the goal of this subsidiary was to tackle the payment processing challenges faced by businesses operating in a variety of “high-cost” and “high-risk” industries, and with the appointment of Ms. Vanessa Luna in early 2017 as MTRAC’s COO, the Company began to gain significant traction by way of a number of strategic partnerships and acquisitions it executed.
The beginning of 2018 would see Ms. Luna elevate to the position of CEO of MoneyTrac, and shortly thereafter the Company achieved its most significant milestone to-date by securing an exclusive software licensing agreement with GreenBox Pos, LLC (OTCQB:GRBX). This technology would serve as the catalyst for the co-development of the revolutionary closed-loop blockchain technology-supported MTRAC payment solution, which the Company intends to be the “Key to Cashless(TM)” for a multitude of cash-burdened businesses. Now poised, in managements’ opinion, more effectively than ever before to emerge as the premier payment processing solution for “high-risk” and “high-cost” industries, the Company firmly believes that the opportunity to be placed on a public platform by way of this reverse triangular merger with Global could open the doors to a variety of new resources that can be leveraged to maximize the Company’s short and long-term growth strategies.
Said MTRAC CEO, Vanessa Luna: “The completion of this reverse triangular merger with Global Payout marks the culmination of the hard work and dedication my team and I have put forth on behalf of MoneyTrac in the past several months. We have come to a point where we are truly ready to take on the cash problem with our MTRAC payment solution. And while we have remained strategically meticulous in our launch and expansion efforts thus far, we recognize how important a public platform can be in helping MoneyTrac evolve into the financial technology powerhouse we believe it will become. We are grateful to the team at Global Payout for their ongoing and continued support throughout the years which has culminated in this merger. We fully intend to use this incredible opportunity to establish MTRAC as the premier cashless solution for the multi-billion-dollar cannabis industry and will remain motivated to create a cashless society for other high-cost and high-risk market sectors through our extraordinary blockchain technology solutions.”
Said Global Payout CEO, James Hancock: “Global Payout has always been a major supporter of MoneyTrac, so I am elated over the completion of this reverse triangular merger as I recognized the significant benefit it could have in facilitating their continued growth and expansion. Over the last several months, Global’s shareholders have witnessed the evolution of MTRAC, and I am excited for them to now be a part of this entirely new era of Global Payout that I believe will become the most compelling part of our success story.”
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 for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
About MoneyTrac Technology
MoneyTrac Technology, Inc. (MTRAC) is a “New Age Technology Holding Company” offering a full-service solution for alternative banking and electronic financial marketplace with technology offerings including Payment Platform, Blockchain, Crypto-Commodity Exchange, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions for businesses and companies in various “high-costs of banking” industries. MTRAC offers additional suites of services ranging from business development, sales and marketing, to digital and print advertisement. We are One Network disrupting the status quo. It is MTRAC’S creative vision to create a “The New Age of Currency(TM)” by bringing innovative technology solutions to various industries and providing the “Key to Cashless(TM).”
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 contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
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