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SAN DIEGO, May 20, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (OTC: GOHE) ("Global" or the "Company") is pleased to announce that the Company has recently developed a new, second revenue source derived from the multi-billion-dollar CBD industry. This stems from a recently executed Independent Sales Organization ("ISO") agreement Global entered into with its existing technology partner, GreenBox POS (OTC: GRBX) ("GRBX"). This new agreement will result in Global receiving this revenue directly in addition to the revenue already being received from the Company's wholly-owned subsidiary, MTrac Tech Corporation ("Mtrac"). While there can be no assurances of the amount of revenue or profitability, Global has successfully on-boarded a number of new clients resulting in revenue now being derived from the parent company.
With projections of its potential to evolve into a 22-billion-dollar industry by 2022, the CBD marketplace has quickly emerged into one of the fastest growing segments in this expanding high-risk market. (Rolling Stone).
“We have had our eye on this market for some time and are elated to have this opportunity to establish an entirely new revenue source for Global Payout,” said Global Payout COO David Flores. “As encouraged as we are with the continued growth of MTrac from a revenue perspective, we recognize the importance in strategically developing revenue streams exclusive to Global for its long-term success and profitability. Expanding into CBD is, in my opinion, a very strategic and logical move on our part to begin capturing a portion of what is becoming a highly lucrative industry. From medical relief benefits, health and beauty products to pet supplements, CBD and the vast array of commodities it is now available in make this market an ideal fit.”
“Global Payout will diversify. We will be implementing the utilization of the technology we have available to us in several business endeavors through a diverse sector of businesses and trades including healthcare, legal, wellness, retail and much more. As we evolve, we will identify potential market sectors and continue to build up our portfolio of clients. It is my strong opinion that the future is Blockchain in this FinTech space, it is the creation of new ways to undertake businesses’ financial objectives for consumer and privacy protection, transparency, cybersecurity, and reasonable fees for services. We are witnessing an evolution of technology and fully intend to be a key participant in its expansion,” said CEO Vanessa Luna.
About Global Payout, Inc. (OTC: GOHE)
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.
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 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®.”
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. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.