After a year of almost stagnant pricing, Global Payout Inc’s (OTCMKTS:GOHE) value shot up by 400% (0.02 to 0.1) within a day leaving market participants wondering what the cause of the sudden volatility was. In this piece we give you gist on the company and a summary of its announcement that prompted its price movement.
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Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. It offers payment system consulting and merchant processing services, customized payment and mobile banking solutions, foreign exchange and overall network management and global remittance network.
In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs.
Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments. The company was founded on July 24, 2009 and is headquartered in San Diego, California.
In November, GOHE announced that it had begun to been focus its efforts on ramping-up sales, marketing, and networking efforts to facilitate the acquisition of new clients and strategic partnerships in the fast-growing logistics industry.
The technology available in Global Payout’s Global Reserve Platform (GRP) offers many companies the ability to break free of traditional banking chains that offer little transparency or security. With its fully compliant “banking-in-a-box” software that can be customized (white labeled), the GRP offers the ability to move money internationally in a more swift and cost-effective manner than traditional banks.
According to Medici Research Group, global mobile payments reached $780.0 Billion in 2017, and are expected to surpass $1.0 Trillion by 2019. Final Mile e-commerce companies are uniquely challenged in their ability to capture proof of delivery, fast and accurate billing information. These challenges create cash flow problems for smaller companies that can sometimes be catastrophic. The GRP provides an effective solution in a market that is moving away from traditional global payment processes.
Jim Hancock, CEO of Global Payout, Inc. commented that the Global Reserve platform is an extremely valuable technology for companies to process payments for business operations and GOHE management would be looking forward to exploring any news to further support industries.
Global Payout, Inc. continues to work diligently to provide long-term value for the Company and its shareholders alike. By increasing revenue and executing the Company’s clearly defined expansion plan GOHE may bepoised to be the number one source for online payments solutions.
On the back of this, Global Payout, Inc reported that its majority owned subsidiary, MoneyTrac Technology, Inc. continued to make significant progress with Pegasus Fintech, Inc. in the joint collaboration for the development of a cryptocurrency token that is being developed for the cannabis industry.
Last month, MTRAC announced the establishment of a strategic partnership with Pegasus Fintech, Inc., an innovative Blockchain and Token Accelerator company that is focused on delivering solutions in the financial services, technology blockchain and emerging cryptocurrency market sectors. In recent weeks, each of the companies’ technology teams have devoted much of their time and resources to the development of the cryptocurrency token they intend to introduce to the cannabis industry, an industry that remains underserved from a financial technology perspective.
The anticipated development of the token will allow for a Public Initial Blockchain Offering (“PIBCO”) to be launched and should provide MoneyTrac with an effective avenue for raising the funds necessary to bring their digital currency to market. It will also provide investors and venture capitalists with a unique opportunity, through a regulatory compliant program, to capitalize on one of the fastest growing market sectors in the U.S. today.
“We are truly excited about the progress our tech and business development teams have made in recent weeks with the collaborative work they have been engaged in with Pegasus Fintech,” said MTRAC CEO James Hancock.
He explained that MoneyTrac’s entry into the digital currency market would be a huge step forward for the firm in attaining its objective of becoming the most recognized brand for financial technology solutions in the cannabis industry, and company intends continue laying the groundwork for the launch of what is expected to be a very successful ICO.
The companies intend to remain focused on completing all the necessary due diligence required to bring the development of their token to fruition so that it meets the requirements for the launch of the ICO.
The firm continued on its trend of of net losses, recording a net loss $2.9 million up by 6% from 2015.
GOHE was however able to increase its asset base to $7.2 million , up by over 300% from 2015. This was largely due to the acquisition of $5.5 million worth of long term investments.
It balance sheet is also lowly geared with account payable the only expected source of outflow for the firm.
With its ICO and Consolidated Payment Gateway, it is clear that GOHE intends to stay ahead in the fintech markets.
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Disclosure: We have no position in GOHE and have not been compensated for this article.