ESCONDIDO, CA–(Marketwired – Jul 27, 2017) – MARIJUANA COMPANY OF AMERICA, INC. (“MCOA” or the “Company“) (OTC PINK: MCOA), an innovative cannabis and hemp corporation, is pleased to announce that it has completed an investment of $250,000 into MoneyTrac Technology, Inc. (“MTT”), a subsidiary of Global Payout, Inc. (OTC PINK: GOHE), in exchange for a 15% ownership interest.
MCOA made this investment to help establish and market MTT as an alternative banking solution for the cannabis industry. MoneyTrac’s software has the ability to integrate and streamline electronic payment processing, such as E-Wallet and mobile applications, as well as manage and process prepaid cards, debit cards, and credit card payments.
As part of the terms of the investment, Donald Steinberg, CEO and President of MCOA, was appointed to the board of MTT this year where he is lending the invaluable experience he has acquired throughout his career in building alternative financial solution companies to the MTT executive management team.
“We are excited to help guide MTT through its developmental stages and are optimistic about the potential of MCOA’s investment into this new project. This is another example of MCOA’s strong strategic partnerships with emerging companies in our industry,” Donald Steinberg said.
About Global Payout, Inc.
Since the Company’s inception in 2009, Global Payout, Inc., www.globalpayout.com, has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
About MoneyTrac Technology
MoneyTrac Technology, Inc. is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions and provides all aspects of financial technology including E-Wallet and mobile apps services for businesses and companies in various “high-risk” industries. MoneyTrac’s technology platform allows for its clients to access their financial information from anywhere in the world, in addition to providing tracking and compliance to help them manage and control the flow of all revenue through their business.
SAFE HARBOR STATEMENT
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
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