SAN DIEGO, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to advise shareholders and interested stakeholders alike that work and overall progress continues to be made with the Company’s ongoing two-year audit and that the Company remains intent on filing its Form-10 as soon as reasonably possible.
For the better part of the past several months the Company has been fully engaged in a two-year audit as part of a key and necessary requirement to effectively complete its Form-10 filing and provide the Company with the fully reporting status that management has been eager to achieve since assuming control of the Company in June of 2018. Since April of this year, the Company has been working in collaboration with Albeck Financial Services, Inc. to review and reconcile the Company’s financial records from the last two years in preparation to be turned over for review and audit by M&K CPAS, PLLC, one of the final steps required prior to filing the Form-10. And while the Company admits that at times this process has been painstakingly intricate and complex, it is both pleased in the progress that has been made and recognizes the overall significance it will provide in helping Global Payout establish a strong financial foundation that it believes will be pivotal in fostering its anticipated growth and expansion over the next several years.
“We have approached this process of reconciling our financials with extreme care and prudence as we understand how important achieving fully reporting status is to the company,” said Global Payout COO, David Flores. Filing our Form-10 remains at the very top of our agenda given the credibility and transparency it will afford us. The filing is a vital component to establish Global Payout and MTrac Tech as legitimate powerhouses in the cannabis and fintech market sectors and we will continue to work diligently on its completion.”
The Company anticipates releasing additional updates as it relates to this ongoing audit and as it gets closer to filing its Form-10.
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. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.”
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 disclosed on the OTC Markets.com website.
Source: Company press release.