New York, NY , Aug. 21, 2018 (GLOBE NEWSWIRE) -- - via NEWMEDIAWIRE – Global Arena Holding, Inc. (the “Company”) (OTC PINK: GAHC), announced today that the Company has filed its second quarter financials. Due to a reduction in derivative liability, the Company’s basic and diluted earnings per share were $0.01.
The Company has continued to fund the acquisition of certain election assets, specifically the asset purchase of Election Services Solutions, by Global Election Services, the Company’s subsidiary (GES). The asset purchase provides new clients, additional election expertise and a management team with an over 30-year track record conducting elections under the Department of Labor rules and regulations.
The Company continued to fund development of certain election software, for GES, specifically focusing on proprietary voter registration systems, using the resources of our joint venture partner, HCAS Technologies and Imaging 101. GES is deploying election software which protects potential voter’s information, as well as updating and determining individual voter eligibility. GES is also deploying proprietary ballot scanning and tabulation software which uses advanced OMR/OCR/Barcode scanning and tabulation software featuring de-skewing, de-speckling and image correction. The computer hardware, and software has been designed to run without Internet or Wi-Fi access and is hard wired, ensuring complete security in the mail ballot process.
Included in the Company’s earnings to date is the completion of two online elections completed by GES and Voting Portals. Together, GES and Voting Portals have successfully completed a contract vote, and an organized labor officer election with 15,500 members; both elections were completed under the recent guidelines issued by the US Department Labor for Online labor elections.
The Company’s chairman, Mr. Matthews, stated, “I am very pleased with the progress of GES election technology development to date and look forward to the new relationship with Synectic Advisors, a joint venture announced in the Company’s last 8K to develop Blockchain related solutions for Ballot Creation, Registration Systems, Scanning of Ballots and Private Secure Cloud / Data Warehouse.”
About Global Arena Holding
Global Arena Holding, Inc. trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc. and GAHI Acquisition Corp. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit: http://globalarenaholding.com
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.
Global Arena Holding, Inc.
208 East 51st Street
New York, NY 10022