NOTE 10– SUBSEQUENT EVENTS
On May 10, 2019, the Company entered into an Amended asset purchase agreement with Election Services Solutions, LLC (the “APA”). Under the APA, the Company will purchase 100% of the assets of Election Services Solutions, LLC. The Company will pay $550,000, of which $501,150 has already been paid, and issue 20,000,000 common shares to purchase these assets under this APA. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
On May 13, 2019, the Company entered into an Amended a master services agreement with HCAS Technologies (the “MSA”). Under the terms of the MSA the Company will issue a total of 30,000,000 warrants to purchase the Company’s common shares at a price of $0.005 as consideration for the services of HCAS and Mr. Magdiel Rodriguez. Under the terms of the MSA Mr. Rodriguez will become the Chief Information Officer. Mr. Rodriguez has over 25 years’ experience in the areas of Information Security, Enterprise Risk Management and Compliance, Information Technology and Operations including 21 years with Visa Inc. where he performed as Senior Business Leader of Information Security. Magdiel has extensive experience in a broad
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range of areas related to Information Security, Network Engineering, and Enterprise Governance, Risk and Compliance and Payment networks within the financial industry.
On May 13, 2019, the Company entered into a joint venture agreement with Voting Portals, LLC (VP), a Florida limited liability company. Pursuant to this agreement, the joint venture will be making use of the VP online e-voting web portal solutions and proprietary e-voting software programs to service and fulfill GES’s clients’ online elections and other e-voting events pursuant to the terms of the agreement, as well as any other ventures and relationships agreed to pursuant to the goals of the agreement. The Agreement was amended and as part of this agreement, the Company will be issuing 10,000,000 common shares to VP for services rendered, upon approval of the corporate actions at the 2019 annual meeting. VP will own 100% of the rights to the software, while GES will be responsible for all administrative and other election procedures. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
On June 7th, 2019 Board of Directors of GAHC decided to infuse an initial deposit of $ 50,000 into its subsidiary GAHI Acquisition Corp (GAHI) for General Capital and Administrative expenses. GAHI will be repurposed in order to explore potential new business ventures in an effort to increase shareholder value. GAHC will cause GAHI to explore opportunities in the energy and minerals business, which may provide investment opportunities, including possibly providing blockchain technology software to energy and mineral companies. The Company added Mr. Jason N. Old to the GAHI Acquisition Board as a Director.
The Company’s subsidiary Global Election Services Inc., (GES) signed an engagement letter on June 19, 2019 with Blockchain Valley Ventures (BVV) of Zug Switzerland. Under the terms of the agreement GES will pay BVV CHF 50,000 and BVV will serve as an advisor in connection with the development of a Voter Registration, Voter Authentication, and Voter Eligibility software platform using a Blockchain Platform. BVV will also Chair an extended workshop to develop a high-level technology solution architecture and its requirements for the blockchain based voting registration platform with inputs from third party blockchain technology companies; provide documentation of the results in order to provide a Working Paper discussing a envisaged Blockchain platform including a foundational flowchart, and implementation recommendation. BVV will also provide legal facilitation with respect to outside tax and legal advisors in connection with compliance with local and international regulation. BVV is a Crypto Valley, Switzerland based venture capital firm consisting of finance experts, blockchain technology experts and ICO experienced analysts and consultants. The documents created will be used by GES, to create a Minimum Viable Product. This Product, along with GES licensing rights on GES existing Registration and Tabulation Software will be owned by GES.
On June 19, 2019 Global Election Services Inc., (GES) entered into a Term Sheet to create a joint venture with TrueVote, Inc. Under the terms of the agreement GES will invest $50,000 by July 31, 2019, into a 24 Month Debenture and GAHC will issue a 3 year warrant exercisable at $0.01 for 4,500,000 common shares of Global Arena Holding Inc., Global Election Services Inc., will receive 3 million common shares of TrueVote, representing 30% of TrueVote Inc. TrueVote, Inc. is building a comprehensive end-to-end, de-centralized, completely digital voting system. This will be based on traditional, proven database methodologies, and layered with a "checksum" that's posted on the Blockchain, proving all data is immutable and unalterable. This design will ensure that every vote is transparently counted and verifiable. TrueVote's approach is to first write and publish an extensive White Paper for peer review and start building the software based on the design laid out in the white paper. TrueVote's code will be completely open source, and
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TrueVote, Inc. will provide value-added services. This is similar to how Red Hat grew to be a leader in the enterprise operating systems segment. TrueVote is led by Brett Morrison and Ped Hasid. The closing of this transaction will occur upon the approval of certain corporate actions at the 2019 annual meeting.
Brett spent his time as Director of Enterprise Information Systems at SpaceX. His biggest professional achievement though was as an e-commerce pioneer, getting brands online and creating a new channel for sales at the beginning of the e-commerce boom. Brett co-founded Onestop Internet in 2003 out of his garage and built the original e-commerce and warehouse management software that started the company. Throughout his time as Chief Technology Officer and Chief Innovation Officer at Onestop he oversaw and managed its growth and architected and helped build the new Onestop 2.0 platform. Prior to Onestop, Brett co-founded one of the first photo sharing companies on the Internet, ememories.com, which was sold to PhotoWorks, one of the largest photo processing companies in the U.S. During ememories.com, he made the move from Silicon Valley to Silicon Beach. Prior to that success, Brett held executive technology positions with several high-profile software companies. As an early employee and Chief Architect at Scopus Technology (acquired by Siebel Systems, then Oracle), Mr. Morrison was instrumental in designing state-of-the-art call center and Customer Relationship Management (CRM) software applications. Brett also spent some time in the Entertainment industry, and produced two feature films, including THE COOLER, which garnered critical praise and an Oscar nomination for best supporting actor. Brett received a bachelor's degree in interdisciplinary studies consisting of Computer Science, Management Information Systems, and Communication from the University of Arizona (Top 10 at time of graduation).
Ped Hasid's career started in his early teens interning at tech startups, while simultaneously attending school. Graduating UCLA with Magna Cum Laude Honors in 2007 he launched multiple successful IT service companies that leveraged his knowledge and expertise in information systems and custom turnkey solutions for a wide array of businesses applications. Ped was introduced to Bitcoin in 2011 reading the Satoshi Nakamoto whitepaper, igniting a force within him to be more involved in the field of distributed ledger technology & crypto-currency. Ped's passion led him to host what would turn out to be one of the first Bitcoin meetups in Silicon Beach, successfully introducing many individuals to the world of crypto-currency and (DLT) distributed ledger technology. Ped later went on to cofound Block26, a venture vehicle for the DLT space established in 2014, leading the technology and investment strategy for the firm. Block26 to date has financed and incubated innovative projects that aim to enhance consumer adoption of DLT technology. Ped is an avid outdoorsman and loves spending time in nature with his family and friends and relishes the opportunity to manifest and create ideas that would help those in need and believes crypto-currency and blockchain technologies are integral for that. He is passionate about decentralization and is dedicated to advancing distributed ledger technology, the underlying protocol powering Bitcoin, Ethereum, and other world-class technology platforms.
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