NEW YORK, NY -- April 5, 2022 -- InvestorsHub NewsWire -- 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
Form 10-K with the Securities and Exchange Commission, and
is excited to share a few highlights.
2021 Year End Financial Summary:
-
Gross revenue for the year was $1,223,116; an increase of
roughly 91% from the same period in 2020.
-
Net Losses for the year reflected ($877,612), which is an
approximate 50% improvement over the same period in 2020, which
reflected a Net Loss of ($1,746,125).
-
Costs and expenses increased 9% to $1.89M for the year, as
compared to $1.75M during the corresponding reporting period in
2020.
-
Cash on the balance sheet had decreased from roughly $0.06M as
of December 31, 2020, to approximately $0.01M at the close of
2021.
Additionally, it is important to highlight the Company’s
capitalization table as management greatly endeavored to stave off
dilution by improving its convertible debt balance sheet. As a
result, the total number of common shares outstanding in 2021 was
2,044,502,156, a 19.36% increase over the 1,712,958,504 common
shares outstanding ending the year of 2020 — a difference of
331,543,652 common shares. Yet, this increase was more than 50%
less than the increase that occurred between the end-of-year 2019
(985,539,957 common shares) and the end-of-year 2020 (1,712,958,504
common shares); an increase of 727,418,547 common shares
(395,874,895 shares more than the end-of-year 2021).
Management attributed this to the Company entering note
settlement agreements [as
reported] with investors to settle certain convertible notes
and accrued interest for a payment of $25,000 and 75,000,000 shares
of the Company’s common stock. At that time, the Company also
recognized a gain of $509,080 on the settlement of its debt.
Management continues to be enthusiastic about the growth
opportunities at the Company’s subsidiary, Global Election
Services, Inc. (GES), which operates on a three-year business cycle
as most clients have officer elections every three years. In
further support of GES’ growth, on February 10, 2021, the U.S.
Election Assistance Commission (EAC) announced the adoption of the
Voluntary Voting System Guidelines (VVSG) 2.0. These guidelines
were formulated to improve cyber security, accessibility, and
usability requirements in the U.S. voting process. During 2021, GES
engaged software and hardware developers to assist with working
toward the qualification process of applying for U.S.
certification.
Further, as it regards GES, the Company aligned with TrueVote,
Inc. (a comprehensive end-to-end, de-centralized, digital voting
system) to develop a proprietary election software for the Company.
Management believes that an online system, based on proven database
methodologies, and layered with a "checksum" posted on the
Blockchain, will potentially break new ground for the future of
voting for elections in both the U.S. and abroad.
Lastly, with the recent additions of E.M. “Kiki
VanDeWeghe, III, and Magdiel Rodriguez to the GES Advisory
Board, the Company is positioning itself to potentially expand its
operational capabilities, at both the parent and subsidiary
levels.
John S. Matthews, the Chairman of the Company, stated, “We are
pleased with the continued progress and growth of the Company, and
our operating subsidiary, GES. Management is now preparing
additional software and hardware updates following recent new
guidelines issued at both the Federal and State levels. We will
soon be providing shareholders with additional information as the
Company prepares for our 2022 shareholders meeting.”
Mr. Matthews continued, “Although 2020 created enormous
challenges due to the Covid-19 pandemic, I can confidently say that
based on our 2021 accomplishments, both financially and
operationally, I believe that Global Arena Holdings, Inc., has the
ability to weather many socioeconomic storms. This is because at
our core, we assist with the management of open and fair elections
at every level; private or public. And this is something that has
always been fundamental to a free and law-abiding society, making
this a necessary service and somewhat recession proof.”
“I would like to thank our shareholders for all their continued
support in 2021. I’d also really like to thank the management,
staff, and outside vendors, who believed in what we are doing, so
much so, that they continued administering elections under the most
difficult of environments in the past couple years; ultimately
giving us the ability to have such a visibly positive performance
in 2021. We continued to develop and improve our proprietary
registration and tabulation software, expanded our management team,
and negotiated what we believe will be valuable business
opportunities. We are all looking forward to what we will
accomplish in 2022 and beyond.”
As always, management recommends reading the Form 10-K in its
entirety and contacting the Company with any questions.
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.
ABOUT GAHC
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.
ABOUT Global
Election Services, Inc. (GES)
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 Six Hundred (8,600) 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.
CONTACT:
Global Arena Holding, Inc.
208 East 51st St.
Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524
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