New York, NY -- November 19, 2021 -- InvestorsHub NewsWire
-- Global Arena
Holding, Inc. (the “Company”) (OTC Markets: GAHC),
a growth oriented, acquisition minded company, with a focus on
specific niche markets offering exponential growth, announced that
the Company has filed
its 10-Q for the quarter ended September 30, 2021,
demonstrating consistent, disciplined and continuous
growth. Financial highlights include but are not limited
to:
- Revenues increased 39% to $189,728 for the third quarter,
as compared to $136,035 during the third quarter of 2020.
- Management reported that revenue for the nine months
ended September 30, 2021, reflected $774,989 as compared to
$476,701 during the same time period in 2020.
- Losses from operations decreased 26% to $231,381, as
compared to $313,574 during the corresponding quarter of 2020.
- Similarly, losses from operations for the nine months
ended September 30, 2021, reflected $466,890, more than a 50%
decrease from the $972,588 reflected during the same nine-month
period of 2020.
- Net losses reflected a total of $318,518 for the third
quarter. This is a significant increase from the ‘plus’
$61,801 reflected during the corresponding period of 2020. However,
the nine months ended September 30, 2021, reflect net losses of
$636,845. When compared to the same nine-month period during 2020,
which reflected a net loss of $1,736,726, a significant decrease
and overall improvement can be observed.
Global Election Services,
Inc (“GES”), the Company’s subsidiary, continues to be the
primary source of revenue, and is on track to meet its target of an
estimated $1M in annual revenue for 2021. Management also continues
to attribute the overall and substantial decline of the net losses
to a significant change in fair value of the derivative
liability—due to debt reduction arrangements
(mentioned here and here).
These debt reduction arrangements dramatically reduced ‘so-called’
toxic convertible debt obligations, freeing the Company of
excessive dilutive conversions which can have a negative impact on
the fundamentals of the Company.
John S. Matthews, the Company’s Chairman, stated, “We entered
2021 having had set a course we anticipated would lead towards
increased revenues, a decrease in convertible debt, reductions in
net losses, and visible growth opportunities at GES. I am very
happy with our current progress and can confidently say, I believe
we will meet and possibly exceed our expectations for 2021.
“We have made many strides to date and intend to aggressively
continue with the efforts that have helped us get to this point;
where we can lend more focus on closing those deals and
opportunities, which we discussed during our 2021 Annual
Stockholder’s Meeting. Thanks to the overwhelming and continued
support of our stockholders, we were granted the ability to
appropriately adjust the cap table to support our growth and value
proposition and get these deals done. To that end, we have made
considerable progress in consummating those deals and
opportunities, and anticipate being able to begin showing successes
there as well.”
As always, management recommends reading the 10Q in its entirety
and contact 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 over 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
www.globalarenaholding.com
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