Global Payout (OTC: GOHE) this morning provided an update on the status of its Form 10 filing and the progress it has made in a long sought-after objective of becoming a fully reporting company under the Securities Exchange Act of 1934. The company has been engaged in a full two-year audit of its financials in preparation for the filing of its Form 10 and its submission to the Securities and Exchange Commission (“SEC”) for review. The company has elected to include its fully audited 2018 financial report, along with the fiscal 2017 fully audited financial reports, with anticipated filing of its Form 10. Global Payout understands the decision to incorporate the 2018 financial report will extend the amount of time needed to successfully complete its financials for the Form 10, but is optimistic in its ability to submit the filing in a reasonable amount of time.
“We understand how eager and anxious many of our shareholders and those who have been following our story are to see this Form 10 officially filed,” Global Payout COO David Flores stated in the news release. “Over the past several months my team and I have been presented with the grueling task of not just getting the company through a full two-year audit, but also successfully launching and taking our flagship brand, MTrac, to market, another challenging feat in its own right. While we continue to do everything we can to file the Form 10 as expeditiously as possible, it is important to understand that we are not here to cut corners or skip steps in the interest of carelessly rushing this filing to the finish line. By nature, this is a very meticulous process, requiring full and fair disclosure, and we recognize how important it is to the future of our company, as well as everyone who has put their faith and trust in us, such as our valued shareholders and our hardworking and dedicated employees. While I will candidly admit that this process has far-exceeded the timeline we had initially established, I remain incredibly encouraged by the progress we continue to make every single day across all fronts of our company. From realizing revenue and seeing our MTrac brand spread across the Country, to the restructuring and fortification of our internal operations, I truly believe Global Payout is on the best path the company has ever been on, and I can only hope that those who believe in our story recognize this process and continue to hold tight.”
To view the full press release, visit http://ibn.fm/uvnhQ
About Global Payout, Inc.
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. For more information, visit the company’s website at www.GlobalPayout.com.
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