SAN DIEGO, Aug. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Global Payout Inc. (OTCPink: GOHE ) (“Global”) is pleased to announce that as a part of an initiative to restructure the Company, they have reached agreements with Secur Capital Corp. and ISBC Holdings for the return of a total of 149,447,870 shares of common stock. The Company has determined that is in the best interests of the shareholders to detach these two entities from Global Payout Inc., going forward. The only surviving subsidiary of the Company will be the newly incorporated and wholly owned subsidiary, MTrac Tech Corp.
With the onboarding of the new management team, one of the ultimate goals has been to restructure the Company in the best interest of the shareholders. As part of that initiative, the contracts with the aforementioned companies have been terminated and the Company has reached an amicable agreement in the return of the common stock to treasury. Additionally, the Company is also working with shareholders in the conversion of their Promissory Notes to help reduce the outstanding debt on the books and improve the Company’s financial outlook. The Company is continuing to work with the auditing firm, Fruci & Associates, to complete the two-year audit and expects the Form10 to be filed in the coming weeks. "When I agreed to take over Global as a part of the Merger with MoneyTrac one of my first goals was to clean up the books for this Company,” said CEO Vanessa Luna. “There is a lot of history there and we have investors that have been supportive of Global over the years during the many ups and downs. I really wanted to make every effort possible to make sure those people were taken care of. Part of that goal has involved reevaluating existing relationships with the Company to ensure they make sense in the big picture, and the management team and I agree that these relationships do not fit into the long term plan. I personally handled the returns from both Secur and ISBC and decisions to separate were not only amicable but all the way around we wish each other much success in our future endeavors. We will continue to evaluate all aspects of company operations as we continue to build a solid foundation for what I plan to be successful company that benefits all shareholders.” About Global Payout, Inc. (OTC Pink:GOHE) 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 owns 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 for alternative banking and electronic financial marketplace 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 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 disclosed on the OTC Markets.com website. Public Relations and Media Contact: Global Payout www.GlobalPayout.com 619.930.5522 Office Information@GlobalPayout.com Communications Contact: NetworkNewsWire (NNW) New York, New York www.NetworkNewsWire.com 212.418.1217 Office Editor@NetworkNewsWire.com
