Business
MTrac Increases Revenue Growth By More Than 150% in Q2
MTrac Increases Revenue Growth By More Than 150% in Q2.
About this update from Psyc Corporation
[{"type":"text","content":"\n SAN DIEGO, Aug. 19, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce their Q2 2019 Disclosure has been filed with OTC Markets per the established reporting requirements for Pink Sheet companies. Management would like to take this opportunity to offer some insights and analysis on the current state of the Company’s revenue, and their current expectations for the remainder of the year. Fueled by MTrac’s ongoing foray into the retail cannabis marketplace with its blockchain-powered payment platform, the Company experienced its most productive and successful quarter to-date in Q2 2019 and believes that, barring any unforeseen challenges, the Company is well-positioned to continue to demonstrate quarter over quarter (Q/Q) growth throughout the remainder of 2019. The Company is continuing to onboard clients and is working on several initiatives to further increase revenue. Q2 Revenue and Financial Highlights Gross revenue in Q2 more than doubled from Q1 2019. Gross revenue in Q2 was roughly $345,000 doubling the gross revenue of $123,219 in Q1.Processing volume in Q2 quadrupled the processing volume of Q1.Gross revenue realized in July projects that Q3 gross revenue will follow a similar growth pattern. “We are truly encouraged with the progress we have made through the first half of the year and are even more encouraged with the momentum we are gaining as we transition into the second half of 2019,” said Global Payout CEO, Vanessa Luna. “This momentum is a result of our unrelenting commitment to strategically and effectively foster the growth of our system in an industry with an abundance of unique challenges. Seeing our revenue and transactional volume take a significant leap forward in the second quarter is, in my opinion, a very solid indication that we are making meaningful progress with our growth initiatives and remain on a very positive trajectory for the remainder of the year.” “Our focus in the second half of the year will be to continue to push our growth initiatives forward in our pursuit of capturing significant market share,” said COO David Flores. “Furthermore, considerable time and dedication will ...