FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Global Payout, Inc. (OTC: GOHE) Announces Multi-Million Dollar Financing Agreement at a 10x Valuation.”
Global Payout Inc. (OTC: GOHE) is pleased to announce that Global Payout has entered into a financing arrangement with a long-term private investor for ongoing financial support at a valuation of ten times the current share price. This investment group has already provided over $2,200,000 in investment capital to the company over the past two years and has committed to additional financing of more than $3,000,000 at a 10x valuation for a total investment of over $5,000,000. The Company anticipates using a large portion of these proceeds to retire a substantial percentage of the Company’s outstanding convertible debt, which will have tremendous value to the stock and its shareholders.
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.
Earlier in July, New York state decriminalized the recreational use of marijuana. Instead of jail time, offenders will now be punished with a fine. New York Governor Andrew Cuomo has been pushing to legalize marijuana for quite some time now but has fallen short each time. Nonetheless, despite the numerous attempts, Cuomo is still actively pushing to legalize the recreational use of cannabis. If New York were to legalize cannabis, it would become the 12th U.S. state to pass legislation for recreational use, following Illinois’ recent legalization. While cannabis is only legal for medicinal purposes in the state of New York, many companies have established operations in anticipation of recreational legalization. In New York City, there are already over a dozen legal medical dispensaries. Notably, several of these dispensaries even operate recreational channels in legal markets. Moreover, there are also several hemp farms operating in upstate New York. And despite New York’s legalization status, the state already has cannabis companies fluidly operating to serve thousands of consumers. Several other states are witnessing similar patterns to New York. For instance, states such as Arizona, Florida, and New Jersey were reporting over tens of millions of dollars in annual sales in 2018 despite having only legalized medical cannabis. Notably, these states were among the most likely candidates to legalize recreational use in the shortcoming years, according to industry experts. Overall, the legal cannabis market is permeating throughout the U.S. states and is creating a multi-billion dollar industry. Additionally, ongoing legalization efforts in the U.S. are beginning to further influence other nations as they explore opportunities within the legal market. And while medical cannabis still dominates that broad cannabis marketplace, increasing awareness and legalization efforts are expected to further propel the industry. As a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research.
Medical cannabis can already be found in many regions around the world such as parts of the U.S., Australia, Canada, France, Germany, Thailand, and South Korea. Yet, due to the lack of research and the plant’s potential for abuse, government regulators have explicitly outlined the requirements patients must meet in order to be eligible for medical use. Germany’s parliament allows patients to use medical cannabis for multiple sclerosis and chronic pain, but it heavily depends on the severity of their condition. The U.S. began adopting medical cannabis back in the 1990s when California became the first state to legalize medical use. Canada legalized medical cannabis use back in 2001, but only allowed it for two specific uses. Moreover, consumer preferences have changed and consumers are beginning to demand more premium and higher quality products. Specifically, in the U.S. and Canada, “craft cannabis” has become an emerging product that is quickly gaining popularity. Cultivators engaging in craft cannabis cultivation carefully nurture each individual plant to ensure its high quality and potency. Notably, craft cultivators also grow their cannabis organically, meaning they avoid the use of artificial products that may damage the strain and cannabinoid content. Overall, the meticulous care and distinct growing techniques create an eccentric strain that stands out from traditional products. “More and more consumers desire a tangible connection with the cannabis flower and care about small farm values such as sustainability, craftsmanship, organic principles and hands-on cultivation techniques,” said Rose Mattio, Founder of Rosie Mattio Public Relations.
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