Global Arena Holding Reports 30% Revenue Increase but Continues to Face Operational Losses in Q3 2025

Global Arena Holding, Inc. (GAHI) reported its financial results for the third quarter of 2025, revealing a significant increase in revenue but continued operational losses. For the three months ended September 30, 2025, the company generated revenues of $454,279, a 30% increase from $350,041 in the same period last year. For the nine months ending September 30, 2025, revenues reached $1,618,689, up 74% from $930,354 in the prior year. This growth is attributed to a higher number of elections held during the reporting period, as many clients operate on a three-year election cycle.

Despite the revenue growth, GAHI's operating expenses also surged, totaling $644,401 for the third quarter, a 41% increase from $456,458 in the previous year. The nine-month operating expenses doubled to $1,986,372 from $983,914, primarily due to a substantial rise in salaries and benefits, which increased from $20,618 to $247,403 in the third quarter alone. The company reported a loss from operations of $190,122 for the third quarter and a net loss of $463,704, compared to a loss of $106,417 and $422,167, respectively, in the same quarter of 2024.

Operationally, GAHI has made strategic moves, including the acquisition of TrueVote Inc. in February 2023, which is expected to enhance its election services with a decentralized digital voting system. The company also entered into an Asset Purchase Agreement (APA) with GES Acquisition Corp. in July 2025, aimed at selling its election services business. However, this agreement was later terminated in February 2026, leading to the execution of a new APA with GES Acquisition, which is set to provide $2.4 million in cash and additional shares in exchange for the business assets.

As of September 30, 2025, GAHI's total assets amounted to $1,072,265, up from $770,913 at the end of 2024, while total liabilities increased to $12,038,856 from $10,693,985. The company reported a stockholders' deficit of $10,966,591, reflecting ongoing financial challenges. Management has expressed concerns about the company's ability to continue as a going concern, citing recurring losses and cash flow deficits. The company is actively seeking additional financing to improve liquidity and operational stability, although there are no guarantees of success.

Looking ahead, GAHI's management remains focused on enhancing its operational capabilities and exploring further capital-raising opportunities. The company aims to stabilize its financial position while navigating the complexities of the election services market, which is subject to regulatory scrutiny and competitive pressures.