PSYC Corporation (PSYC)

[adijas]

Nice news today.

Global Payout Announces Planned Buy-Back of Common Stock
Oct 10, 2014

OTC Disclosure & News Service

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San Diego, Oct. 10, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in payment solutions, announced today that from time to time the Company intends to purchase up to 1 million (1,000,000) shares of its common stock in this round in the open market. The buyback is being initiated due to management's belief that the stock is currently undervalued.

CEO Jim Hancock commented, "Never have the market opportunities for Global Payout been so great, and the Board of Directors strongly believes that the Company's common stock is undervalued at this time. As a result, we feel that now is the time to initiate a stock buyback program."

This buyback program is a continuation of a stock repurchase program implemented by the Company in 2011.

Global Payout recently closed its acquisition of Maxie Mobile, Inc., a mobile financial services technology provider focused on underserved markets in the United States and globally. The Maxie Mobile app is a universal financial solution on a mobile platform and has existing customers in the telecommunications and hotel and gaming industries. The financial services delivered by the Maxie Mobile app includes bill payment, payroll deposits, check cashing, prepaid phone top up, and cross border remittances. According to the World Bank, global remittances alone are expected to total $581 billion in 2014 and rise to $681 billion for 2016.