NEW YORK, NY –
The 10-Q for the quarter ended September 30, 2023 reflects management’s continued effort to grow the Company at a steady and disciplined pace. Financial highlights include but are not limited to:
- Revenue increased 66% to $268,304 for the third quarter as compared to $162,067 in the third quarter of 2022.
- Losses from operations decreased 69% to $ 78,540 as compared to $253,429 in the third quarter of 2022.
- Net loss was $169,458, a decrease of 22% from a net loss of $216,385 in the third quarter of 2022.
Management reported that revenues for the nine months ended September 30, 2023 reflected $612,468 as compared to $559,911 for the same nine month period in 2022.
Management reported that loss from operations for the nine months ended September 30, 2023 reflected $375,887 as compared to $710,464 for the same nine month period in 2022.
Management is currently attempting to renegoiate certain convertible debt instruments in the first quarter of 2024, and to set an example of Management’s commitment, salaries and benefits totaled $281,825 for the nine months ended September 30, 2023 compared to $587,335 for the nine months ended September 30, 2022. This decrease was due to agreed upon changes in GAHC employment compensation for employees including John Matthews, an officer and director of GAHC and Kathryn Weisbeck who have specfically reduced their GAHC compensation to $2.00 a quarter.
Global Election Services Inc. (GES), the company’s operating subsidiary, continues to administer private elections nationwide and develop election software. GES has issued Request for Proposals to certain technology companies, so that it may file an application to the United States Election Assistance Commission to apply for a Voluntary 2.0 certification.
John S. Matthews, the Chairman and CEO of Global Arena Holding, Inc., stated, “Management is committed to continue growing Global Election Services Inc., and will seek to increase shareholder value through potential acquisitions, the reorganization of the Company’s balance sheet, and potentially the sale of assets.”
As always, management recommends reading the Company’s financials in their entirety and contacting the Company at any time with any questions. For more information on these and other developments, please visit the Company’s website at: http://GlobalArenaHolding.com, where you can also access all SEC filings, as the Company continues to pursue a more effective investor relations initiative.
Global Arena Holding, Inc. trades on the OTC Pink Market, under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc., Tidewater Energy Group Inc., and GAHI Acquisition Corp. Please find the Company’s filings at
Owned by Global Arena Holding Inc., GES provides comprehensive technology-enabled election services to organizations such as craft and trade organizations, labor unions, political parties, co-operatives and housing organizations, associations and professional societies, universities, pension funds and credit unions, and entertainment organizations. GES senior management has been supervising elections since 1981, having managed thousands of election projects involving over Forty Million (40,000,000) voters, certifying each labor election with the U.S. Department of Labor. The primary method of voting for GES elections is Paper Mail Ballots. No election supervised by GES or its senior management has ever been overturned by the U.S. Department of Labor. Management has an extremely strong reputation in the market and a very extensive, longtime customer list. Our mission is to help our clients conduct efficient, accurate, secure and less costly elections with greater participation. As a viable independent third party managing each election, we work to increase methods and rates of participation while maintaining the One Voter = One Vote Integrity that our management team has been committed to for over 4 decades.
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 St.
New York, NY 10022