Global Payout Announces Buy-Back of Common Stock

SAN DIEGO, Oct. 12, 2012 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE) announced today that periodically it intends to purchase up to 1,000,000 shares of its common stock in the open market. Jim Hancock, President of the Company, stated that "In my opinion, and the opinion of the Board of Directors, the common stock of Global Payout continues to be undervalued, and, to serve the best interests of the Company, will continue to exercise our stock buy-back program".

The last four months have been extremely productive as evidenced by the successful launch of our MoneyTrac prepaid debit card and our international debit card program. Both debit card programs are currently being deployed for our business clients with additional business clients in our pipeline.  Additionally, our licensed international consolidated payment gateway will be market ready within the next 30-60 days and will be integrated with our debit card programs to provide an extremely robust payment system.

About Global Payout, Inc.:

Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a payment solutions provider offering U.S. and International companies electronic payment and prepaid debit card solutions. Through Global Payout's processors and solution providers the company offers an international payment platform allowing accountholders to move money to personal bank accounts in over 200 countries. In addition, the company provides for U.S. and International debit cards, allowing accountholders without bank accounts to access funds worldwide. As a program manager and reseller, Global, is a provider of prepaid debit cards in the U.S. for payroll and general spend programs.

Forward-Looking Statements Disclosure:

This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, award looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will" and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.

CONTACT:
Joe Sebo, Chief Financial Officer
[email protected]
Global Payout, Inc.
T.760.433.3399
F.215.294.4626
www.globalpayout.com

For further investor information please contact:

Stephen D. Axelrod, CFA
[email protected]
Adam Lowensteiner
[email protected]
Wolfe Axelrod Weinberger Associates LLC.
T. 212.370.4500

SOURCE Global Payout, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED