Global Arena Holding, Inc. (GAHC)
Business Summary
Global Arena Holding, Inc. operates as a holding company with its primary operating subsidiary, Global Election Services, Inc., providing technology-enabled paper absentee and mail ballot election services to organizations including craft and trade organizations, labor unions, political parties, cooperatives, housing organizations, associations, professional societies, universities, and political organizations. The company has developed proprietary election software for data storage and retrieval registration systems to determine voter eligibility and prevent duplicate votes through in-person digital signature capture, as well as proprietary scanning and tabulation software utilizing advanced OMR, OCR, and barcode imaging with de-skewing, de-speckling, and image correction capabilities. The hardware includes high-speed optical scanners hard-lined to computers with all Wi-Fi disabled so the entire tabulation process occurs offline, eliminating the opportunity for hacking, and the system provides three types of audit capabilities. The company is also working with multiple vendors and has made investments in companies developing blockchain technology for data storage and retrieval registration systems, tabulation of paper absentee and mail ballots, and internet voting.
The company derives over 80% of its current business from Election Services Solutions, LLC, which it acquired through a second amended purchase agreement dated March 25, 2021. Management believes there are four significant opportunities to increase market share: the growth and expansion of GES's current business and expansion into paper absentee and mail ballot services for U.S. government and foreign elections, the additional development of interactive communication between elected individuals and their constituents, and the development of blockchain voting applications. The market for conducting paper and mail ballot elections has experienced significant growth starting in January 2017 when Presidents Barack Obama and Donald Trump each designated U.S. elections as critical infrastructure, refocusing the Department of Homeland Security and the Election Assistance Commission to reenergize compliance on U.S. government elections and make available resources such as intelligence, funding, training, and best practices in election software and hardware for all 50 states.
The company generates revenue through its wholly owned subsidiary Global Election Services, Inc., which provides comprehensive technology-enabled paper absentee and mail ballot and internet election services to organizations. The business model is transactional in nature, deriving revenue from conducting elections for clients. The company's platform includes proprietary election software for voter registration, eligibility determination, duplicate vote prevention, and scanning and tabulation, along with high-speed optical scanning hardware that operates offline to prevent hacking.
Global Election Services, Inc. is the company's primary operating segment, formed on February 25, 2015, and provides election services to craft and trade organizations, labor unions, political parties, cooperatives and housing organizations, associations and professional societies, universities, and political organizations. GES has developed proprietary election software for a data storage and retrieval registration system to determine voter eligibility and prevent duplicate votes with in-person digital signature capture, as well as proprietary election software for scanning and tabulation utilizing advanced OMR, OCR, and barcode imaging software featuring de-skewing, de-speckling, and image correction. The hardware includes high-speed optical scanners that are hard-lined to a computer with all Wi-Fi disabled so the entire tabulation process occurs offline, eliminating the opportunity for hacking, and the system provides three types of audit capabilities. GES is also working with multiple vendors and has made investments in companies who are developing blockchain technology for a data storage and retrieval registration system, tabulation of paper absentee and mail ballots, and internet voting.
The company's other subsidiaries include GAHI Acquisition Corp., formed on May 20, 2015, which discontinued all operations effective September 30, 2024; Fortis Industria, LLC, formed on January 26, 2023, in which the company owns 90% of the member interests and John S. Matthews, an officer and director, owns 5%, which has been dormant since 2025; and Tidewater Energy Group Inc., formed on November 19, 2019, as a 51% subsidiary to explore opportunities in the oil, gas, mineral, and energy business, which was closed on December 31, 2024.
On March 25, 2021, GES entered into a second amended purchase agreement with Election Services Solutions, LLC to purchase 100% of the assets of ESS for $650,000 1 (of which $511,150 2 was already paid) and the issuance of 40,000,000 3 shares of common stock. On August 2, 2024, GES entered into a convertible promissory note agreement with the former Managing Director of ESS to finalize the purchase of GES, with a principal amount of $138,850 4 due on October 15, 2025 with an annual interest rate of 12% 5. On February 27, 2023, GES and True Vote, Inc. entered into a Common Stock Purchase Agreement under which GES invested $50,000 6 into a 24-month debenture and issued a 3-year warrant exercisable at $0.01 7 for 4,500,000 8 common shares of the company, receiving 3,000,000 9 shares of common stock of True Vote representing 30% 10 of True Vote.
The aggregate market value of the registrant's voting and non-voting stock held by non-affiliates as of June 30, 2025 was approximately $169,535 11. As of August 11, 2026, the number of shares of the registrant's common stock outstanding was 1,695,351,226 12.
Business Outlook & Financial Sufficiency
Management believes there are four significant opportunities to increase market share: the growth and expansion of GES's current business and the expansion into paper absentee and mail ballot services for U.S. government and foreign elections, the additional development of interactive communication between elected individuals and their constituents, and the development of blockchain voting applications. Management believes there is an opportunity in conducting U.S. and foreign government elections, noting that GES's senior management team's primary business for over 40 years has been mail and absentee ballot elections. The market for conducting paper and mail ballot elections has experienced significant growth starting in January 2017 when Presidents Obama and Trump each designated U.S. elections as critical infrastructure, refocusing the Department of Homeland Security and the Election Assistance Commission to reenergize compliance on U.S. government elections and make available resources such as intelligence, funding, training, and best practices in election software and hardware for all 50 states. In the U.S. there are 3,007 13 counties, 64 14 parishes, 19 15 organized boroughs, 11 16 census areas, 41 17 independent cities, and the District of Columbia, all of whom are responsible for purchasing and updating election machines and software. The size and scope of the opportunity in U.S. government elections is reflected in recent federal funding legislation, including the Coronavirus Aid, Relief, and Economic Security Act signed into law on March 27, 2020, which included $400,000,000 18 in new Help America Vote Act emergency funds made available to states to prevent, prepare for, and respond to the challenges of the COVID-19 pandemic during the 2020 federal election cycle.
The company is working with multiple vendors and has made investments in companies who are developing blockchain technology for a data storage and retrieval registration system, tabulation of paper absentee and mail ballots, and internet voting. On February 27, 2023, GES and True Vote, Inc. entered into a Common Stock Purchase Agreement under which GES invested $50,000 19 into a 24-month debenture and issued a 3-year warrant exercisable at $0.01 20 for 4,500,000 21 common shares of the company, receiving 3,000,000 22 shares of common stock of True Vote representing 30% 23 of True Vote, positioning the company for potential growth in blockchain-based voting applications.
Management Sentiments & Priorities
Management's message emphasizes four significant opportunities to increase market share: the growth and expansion of GES's current business and expansion into paper absentee and mail ballot services for U.S. government and foreign elections, the additional development of interactive communication between elected individuals and their constituents, and the development of blockchain voting applications. Management highlights that the market for conducting paper and mail ballot elections has experienced significant growth starting in January 2017 when U.S. elections were designated as critical infrastructure, and notes the substantial federal funding opportunity reflected in the $400,000,000 30 in new Help America Vote Act emergency funds made available through the CARES Act. The strategic priorities for the period ahead center on expanding into U.S. government and foreign election markets, developing interactive communication tools, and advancing blockchain voting applications.
Financial Details
The aggregate market value of the registrant's voting and non-voting stock held by non-affiliates as of June 30, 2025 was approximately $169,535 31. As of August 11, 2026, the number of shares of the registrant's common stock outstanding was 1,695,351,226 32. The company's financial statements reflect a complex capital structure with multiple series of preferred stock, including Series B Preferred Stock and Series C Preferred Stock, and numerous convertible promissory notes with varying principal amounts, interest rates, and conversion terms. The company has outstanding convertible notes payable with principal amounts ranging from minimum to maximum values across three categories of convertible notes payable, with derivative financial instruments liabilities measured using inputs including risk-free interest rate, expected term, price volatility, and expected dividend rate. The company's balance sheet includes assets such as internal use software and election hardware, and liabilities include significant convertible debt and derivative liabilities. The company's operations have been impacted by the discontinuation of GAHI Acquisition Corp. effective September 30, 2024, the dormancy of Fortis Industria, LLC since 2025, and the closure of Tidewater Energy Group Inc. on December 31, 2024.
Risk Factors
The company faces material risks related to its dependence on a single acquired business, as it derives over 80% 24 of its current business from Election Services Solutions, LLC, and any disruption in that relationship or the loss of that business would have a material adverse effect on operations. The company's capital structure is highly complex and dilutive, with 1,695,351,226 25 shares of common stock outstanding as of August 11, 2026, and numerous convertible promissory notes and warrants outstanding that could result in further dilution, including a warrant exercisable at $0.01 26 for 4,500,000 27 shares and convertible notes with a 12% 28 annual interest rate. The company's market capitalization is extremely small, with an aggregate market value of non-affiliate held stock of approximately $169,535 29 as of June 30, 2025, indicating limited liquidity and potential difficulty in accessing capital markets. The company has a history of discontinued operations, having closed Tidewater Energy Group Inc. on December 31, 2024, discontinued GAHI Acquisition Corp. effective September 30, 2024, and with Fortis Industria, LLC dormant since 2025, suggesting challenges in executing on new business ventures.
References
- [1] Item 1, Business — Global Election Services
- [2] Item 1, Business — Global Election Services
- [3] Item 1, Business — Global Election Services
- [4] Item 1, Business — Global Election Services
- [5] Item 1, Business — Global Election Services
- [6] Item 1, Business — True Vote, Inc.
- [7] Item 1, Business — True Vote, Inc.
- [8] Item 1, Business — True Vote, Inc.
- [9] Item 1, Business — True Vote, Inc.
- [10] Item 1, Business — True Vote, Inc.
- [11] Part I, Facing Page — Market Value of Common Stock
- [12] Part I, Facing Page — Shares Outstanding
- [13] Item 1, Business — Growth Strategy for the Company
- [14] Item 1, Business — Growth Strategy for the Company
- [15] Item 1, Business — Growth Strategy for the Company
- [16] Item 1, Business — Growth Strategy for the Company
- [17] Item 1, Business — Growth Strategy for the Company
- [18] Item 1, Business — Growth Strategy for the Company
- [19] Item 1, Business — True Vote, Inc.
- [20] Item 1, Business — True Vote, Inc.
- [21] Item 1, Business — True Vote, Inc.
- [22] Item 1, Business — True Vote, Inc.
- [23] Item 1, Business — True Vote, Inc.
- [24] Item 1, Business — Global Election Services
- [25] Part I, Facing Page — Shares Outstanding
- [26] Item 1, Business — True Vote, Inc.
- [27] Item 1, Business — True Vote, Inc.
- [28] Item 1, Business — Global Election Services
- [29] Part I, Facing Page — Market Value of Common Stock
- [30] Item 1, Business — Growth Strategy for the Company
- [31] Part I, Facing Page — Market Value of Common Stock
- [32] Part I, Facing Page — Shares Outstanding
Analysis on 8/11/2026