MTrac Increases Revenue Growth By More Than 150% in Q2
19 August 2019 - 10:00PM
InvestorsHub NewsWire
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MTrac Increases Revenue Growth By More Than 150%
in Q2
SAN
DIEGO, CA -- August 19, 2019 -- InvestorsHub NewsWire -- Global
Payout Inc. (OTCPink:GOHE)
(“Global” or the “Company”) and its wholly-owned subsidiary MTrac
Tech Corporation (“MTrac”) are pleased to announce their Q2 2019
Disclosure has been filed with OTC Markets per the established
reporting requirements for Pink Sheet companies. Management would
like to take this opportunity to offer some insights and analysis
on the current state of the Company’s revenue, and their current
expectations for the remainder of the
year.
Fueled by MTrac’s ongoing foray into the retail
cannabis marketplace with its blockchain-powered payment platform,
the Company experienced its most productive and successful quarter
to-date in Q2 2019 and believes that, barring any unforeseen
challenges, the Company is well-positioned to continue to
demonstrate quarter over quarter (Q/Q) growth throughout the
remainder of 2019. The Company is continuing to onboard clients and
is working on several initiatives to further increase
revenue.
Q2 Revenue and Financial
Highlights
- Gross revenue in Q2 more than doubled from Q1
2019. Gross revenue in Q2 was roughly $345,000 doubling the gross
revenue of $123,219 in Q1.
- Processing volume in Q2 quadrupled the
processing volume of Q1.
- Gross revenue realized in July projects that Q3
gross revenue will follow a similar growth
pattern.
“We
are truly encouraged with the progress we have made through the
first half of the year and are even more encouraged with the
momentum we are gaining as we transition into the second half of
2019,” said Global Payout CEO, Vanessa Luna. “This momentum is a
result of our unrelenting commitment to strategically and
effectively foster the growth of our system in an industry with an
abundance of unique challenges. Seeing our revenue and
transactional volume take a significant leap forward in the second
quarter is, in my opinion, a very solid indication that we are
making meaningful progress with our growth initiatives and remain
on a very positive trajectory for the remainder of the
year.”
“Our focus in the second half of the year will
be to continue to push our growth initiatives forward in our
pursuit of capturing significant market share,” said COO David
Flores. “Furthermore, considerable time and dedication will be
devoted towards collaborating with our technology partners at
GreenBox POS to further optimize and enhance the MTrac ecosystem to
promote more seamless functionality for all users. Rest assured
that at the core of each of our objectives is a commitment to
delivering the highest value proposition for every one of our
stakeholders and I am truly excited to see us finish the second
half of 2019 on an incredibly successful
note.”
About Global Payout,
Inc. (OTC
Pink: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. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC
Markets.com website.
Media
Contacts:
Global Payout,
Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac
Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com
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