NEW YORK, NY - (NewMediaWire) - September 03, 2015 - Global Arena Holding, Inc. (the "Company") (OTC PINK: GAHC), which recently released its quarterly report on Form 10-Q for the period ended June 30, 2015, announced today that the Company expects continued growth to be spurred by strong revenues from its Global Election Services, Inc. ("GES") business and its pending Blockchain Technologies Corporation ("BTC") acquisition.
"Our strong Q2 results reflect continued growth," said John Matthews, CEO of Global Arena Holding, Inc. "We are very focused on continually growing our current business as well as evaluating new opportunities."
Some highlights include:
- Sales revenue of $234,467, contributing to total sales of $486,122 over a 6 month period
- Operating expenses of $967,949 with an operating cost reduction of 35%
- Strong performance of GES
- Pending acquisition of BTC
- Potential asset purchase of Election Services Solutions LLC ("ESS")
Mr. Matthews offered more context on the Company's current revenue driver, and what it means for investors. "We are thrilled with the revenue growth from our GES subsidiary. We have moved beyond proving this component of our model and look forward to growing our network of clients -- covering organized labor, co-op, condominiums, trade organizations, universities, and expanding into mediation and arbitration claims."
"GES's consistent cash flow will contribute to our ability to acquire and grow some of our pending and potential acquisition candidates such as Blockchain Technologies Corporation and Election Services Solutions," concluded Mr. Matthews.
About Global Arena Holding
The Company 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 Global Arena Investment Management LLC.
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.