MCOA has completed an investment of $250,000 into MoneyTrac Technology, Inc., 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.
On August 24, 2018, MCOA was issued 150,000,000 shares of GOHE’s common stock as a part of its reverse merger with MoneyTrac Technology. Based on the market price of GOHE’s stock on the date of the share issuance, MCOA has a contingent unrealized gain of approximately 700% on its $250,000 investment, subject to future price fluctuations in the market for GOHE’s stock.
MoneyTrac Technology, Inc. is a majority owned subsidiary of Global Payout, Inc. and is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions.
MoneyTrac 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.
With the legalization of cannabis sweeping the nation, financial compliance is a big factor toward obtaining licensing for various sectors of this industry.
“The electronic payment and compliance features available through the MTT technology platform are the solutions many sectors of our Cannabis industry have been looking for, and I look forward to providing the MTT Board with guidance and support to help move their objectives forward in the most effective way possible,” said Mr. Steinberg MCOA CEO.
MCOA intends to invest $250,000 in exchange for 15% of MTT, a subsidiary of Global Payout (OTC: GOHE).