We make our best effort to come back to stocks we’ve previously discussed here on Street Register as often as we can, and today we’ve got a pair of occurrences which have transpired in the past few days for GLOBAL PAYOUT INC COM USD0.01(OTCMKTS:GOHE).
We were just mentioning the company a few weeks ago, discussing its majority owned subsidiary, MoneyTrac Technology, Inc. (MTRAC)’s plans with Pegasus Fintech to release a crypto-coin for the cannabis industry.
GLOBAL PAYOUT INC COM USD0.01(OTCMKTS:GOHE) has effectively positioned itself to move forward with the co-launch of its regulatory compliant Token Offering. This Token will be aimed at offering businesses in the accelerating cannabis industry an effective decentralized payment system in an industry with limited payment options outside of cash. The Token Offering is on schedule and anticipated to launch in the first quarter of 2018.
With the current Administration’s recent move to rescind an Obama-era memo that shielded legal cannabis users, growers, and distributors from federal prosecution, many business owners across the industry continue to find themselves in a situation where they must run their businesses on a cash-only basis leaving them extremely vulnerable to theft. This problem is growing exponentially, as the number of states where cannabis is now recreationally available has increased to eight and sales continue to exceed expectations.
MTRAC has been working with a variety of partners in the financial technology and compliance sectors to develop the M-Token. The M-Token will aim to fill a massive gap that exists in a rapidly expanding multibillion dollar industry, where thousands of profitable businesses are denied access to banking systems and the multitude of basic, yet critical, solutions financial institutions provide businesses with.
Said MTRAC CEO, Vanessa Luna: “MoneyTrac’s primary objective has been, and will continue to be, to serve the legitimate and profitable businesses of the cannabis industry by effectively addressing the financial technology and banking challenges they are faced with. Right now, one of the biggest and most daunting challenges they face is having to run their businesses strictly on cash. This is not only dangerous from a theft perspective, but not practical in terms of basic financial management solutions. Our regulatory compliant Token Offering will revolutionize how these businesses operate…” (Source: Globe Newswire)
In other news, MTRAC executed a Sales and Marketing Management Agreement with High Grade Management Group, Inc. to guide the development and implementation of a sales and marketing campaign to support the successful launch of its Apple Vapes products.Aiming to capture a significant share of the multi-million-dollar vape market space, HGMG has introduced Apple Vapes. This new line of products delivers high-quality vape pens, chargers, and oils to consumers and retailers in one of the fastest growing market spaces.
In addition to providing MTRAC with a direct source of revenue through the retainer they will receive for sales and marketing services, the agreement also serves as reinforcement of MTRAC’s expanding business development service arm which is directed towards the growing number of businesses in the underserved cannabis industry. (Source: Globe Newswire)
In acting as a support system for cannabis industry companies, not only is GOHE making the industry safer for proprietors, but it’s doing so at a time when it’s more crtitical than ever. We’ve said time and again that the cannabis business is an unstoppable force, and it’s companies doing things like GOHE that are helping to pave the way. Stay locked to Street Register for updates, and we’ll deliver important developments on GOHE as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in GOHE stock, short or long.