Hi !
Genesis Technology Group Signs Letter of Intent to Sell Subsidiary for $500,000 in Stock Transfer
Sep 28, 2005 6:30:00 AM
2005 PrimeZone Media Network
BOCA RATON, Fla., Sept. 28, 2005 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC), announced the signing a letter-of-intent with a U.S. public company to sell its 80% ownership of Shanghai Chorry Technology Development Company, Limited (also known as "Zhaoli").
The proposed purchaser would issue $500,000 worth of common shares as consideration. In addition, any debt related to registered capital in Chorry, as required by Chinese law, would be assumed by the purchaser.
Commented Genesis CEO Gary Wolfson: "We will ask our shareholders to vote in favor of this transaction. Management believes it is a sound decision for the Company, as we have refocused on the Western capital markets for Chinese companies and operating an active trading company from our Hong Kong office. Our primary goal remains in sourcing a strong merger candidate for the Company to give both profitability and sustainability. We believe that this sale, if approved, could enable the Company to complete this program and add substantially to shareholders' value.
"In summary, the sale of this subsidiary could have, at least, two beneficial effects: first, it should enable the Company to advance its own M&A strategy; and second, it will move the Company away from an industry-office equipment, computer hardware and software-that is extremely competitive with razor thin margins.
"To consummate this transaction, management shall negotiate a definitive purchase agreement, subject to the approval of Genesis shareholders," concluded Mr. Wolfson
Good luck.
Evgeny.
News this a.m may be good enough to cause this chart to reverse?
2005-11-03 07:00:16
Genesis Technology Group Selected by Shanghai Aerospace to Lead U.S. Initiative in Distance Learning Program
BOCA RATON, FL -- (MARKET WIRE) -- 11/03/05 -- Genesis Technology Group, Inc. (OTC BB: GTEC)
announced that it has been selected by China Vocational Education Satellite
Network to lead its U.S. initiative in distance learning. Genesis
management estimates that the contract could have a value exceeding $5
million in profits for the Company in an industry estimated to yield
billions of dollars globally.
Mr. Hong Kang, Chief Executive Officer of the CVE Satellite Network,
commented: "We selected Genesis because of its management's long-term
success in bridging Chinese and Western business interests. We are
confident that Genesis can source our educational partners at major U.S.
universities, hospitals, and private companies. More than distance
learning, we also believe that the CVE programs can result in better
understanding and cooperation among peoples in different countries."
Genesis Project Manager KeKe Zhang interjected: "China Vocational Education
Satellite Network is the premier distance learning platform sponsored by
the National Center for Education Development & Research of Ministry of
Education of People's Republic of China, owned and operated by Shanghai
Aerospace Computer System Engineering Co., Ltd.
"Genesis' role is clear: we will secure the educational partners for the
CVE programs, and the tuition-based courses will educate students and
professionals regardless of time zone or geographic location. Genesis
benefits by receiving a designated portion of each CVE contract," explained
Ms. Zhang.
Continued Mr. Kang: "With a curriculum covering medical, management,
engineering, spirituality, marketing, accounting, business and finance, and
more, CVE will create global classrooms through distance learning programs
that target a registered student body numbering in the tens of millions."
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. is a business development firm that fosters
bilateral commerce between Western and Chinese companies. Genesis has
created successful profit centers in product development, manufacturing,
distribution, joint ventures and operational services. The Company has
fully staffed offices in the United States, Hong Kong and China. Genesis
has established effective working relationships with various governmental
agencies, public institutions, and private industries in China. In
addition, the company acquires and invests in innovative technology
companies in China or forms joint ventures with both Western and Chinese
companies, focusing on emerging technology and natural resource industries.
For more information, visit www.genesis-technology.net
We have the same idea !!!
Technicals :
+DI IS VERY LOW !!! < 10..Very rare...
Divergence in ROC
I don't know much about the technicals, but I do believe the fundamentals support a much higher Enterprise Value than $1.8 MM. ??? The company isn't far from break-even and revenues are $24MM.
If they only had China in their name. ;D
Excellent find.
poorman1
Up 31% today. Volume not all that great, but it's a start.
NEWS today also:
Genesis Management Posts Letter to Shareholders With Near-Term Profitability as the Major Goal
Tuesday November 8, 7:00 am ET
BOCA RATON, FL--(MARKET WIRE)--Nov 8, 2005 -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) posted on its website a "Letter to Shareholders" that addresses the current state of the Company, with a retrospective, present status, and forecast for the future. The most positive aspect of the communication states that a "transformative merger," still in negotiations, with a major Chinese company could "vault the Company to sustained profitability, with brand recognition that is designed to 'go global'."
As to present action: Disposing of Chorry Technologies, the company's 80% owned subsidiary, is addressed and the Board of Directors holds the position that Chorry has been under performing for a myriad of reasons. The sale would result in the Company receiving $500,000 in common stock from another public company, which operates as a holding company of Chinese enterprises. Management and the Board of Directors strongly believe that this sale would be beneficial to the Company and its shareholders, especially in light of a prospective merger with another major Chinese company.
The letter concludes: "We are moving forward with our plan to integrate all of our operations into an enterprise that will be a premier provider of management services, assisting Chinese companies trying to penetrate US markets, and our outlook for the year is optimistic. We are excited about our growth opportunities and look forward to translating those opportunities into increased shareowner value." The letter in its entirety may be accessed at www.genesis-technology.net (http://www.genesis-technology.net)
Appears to be blue skies past $.05 up to $.07 on LEVEL II. :D
GTEC is making me very pleased. I decided to overweight this one with 15% of my portfolio value and looks to be paying off. Fundamentals, news and technicals all look very strong.
Here are the updated 2-year and 3-month charts ;D
News after market close:
http://biz.yahoo.com/iw/051121/0101971.html
Genesis Announces World Bank Group Invests $4.6 Million in New Chinese Distance Learning Project
Monday November 21, 5:00 pm ET
BOCA RATON, FL--(MARKET WIRE)--Nov 21, 2005 -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced that the World Bank Group has invested $4.6 million in the China Vocational Education Satellite Network, the contract partner to its new subsidiary, Genesis Distance Learning Division (GDLD). Genesis management has estimated that its contract could have a value exceeding $10 million in profits for the Company in an industry estimated to yield billions of dollars globally.
Mr. Hong Kang, Chief Executive Officer of the CVE Satellite Network, commented: "Genesis management, with long-term success in bridging Chinese and Western business interests, should play a key role in our success in the United States. We are confident that Genesis can source our education partners at major U.S. universities, hospitals, and private companies. More than distance learning, we also believe that the CVE programs can result in better understanding and cooperation among peoples in different countries."
GDLD project manager, Ms. KeKe Zhang added: "We are impressed that the World Bank Group, through its International Finance Corporation, has invested $4.6 million in the CVE distance learning program. The confidence of this august body demonstrates the importance of the global education program."
Explains the International Finance Corporation: "The IFC promotes sustainable private sector investment in developing countries as a way to reduce poverty and improve people's lives. IFC is a member of the World Bank Group and is headquartered in Washington, D.C." (For more information, see www.ifc.org)
Ms. Zhang continued: "With the backing of the World Bank Group and IFC, the CVE program has moved to a different level. Genesis has been nearly overwhelmed by the interest this distance-learning program has caused, since our initial announcement in early November. The $10 million in profits, forecast over the life of the CVE contract, may prove to be conservative."
About the World Bank Group
The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the common sense. The World Bank is made up of two unique development institutions owned by 184 member countries--the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Each institution plays a different but supportive role in its mission of global poverty reduction and the improvement of living standards. The IBRD focuses on middle income and creditworthy poor countries, while IDA focuses on the poorest countries in the world. For more information, visit www.worldbank.org
I applaud you evgeny05 for you're pick GTEC. Did anybody get in before the run up. It should continue to go up and maybe make a few rebounds before the MACD and blue MA line crosses back down below volume indicator in the MACD box below the chart. Wish I had some funds for I would buy into this one and wait for rebound to sell.
Goodluck trading to all :)
Seeing a thread on this ol' dog takes me back. I bought the top back in Feb 04 at .45. Sold half for a 35% loss and let the other half "run" which turned into a a 65% loss :'( Would be nice to make back some of that loss. Not convinced that now is the time to jump back in. If RSI can break resistance at 50 on the weekly for the first time in two years, I might throw some money at it. This is the third test of 50 in the last 18 months. Watching...
Boom Boom, Zoom Zoom ..... :o
Press Release Source: Genesis Technology Group, Inc.
Genesis Equity Partners Acquires Interest in Chinese Real Estate Development Company
Thursday February 2, 7:00 am ET
BOCA RATON, Fla., Feb. 2, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced that its subsidiary, Genesis Equity Partners, LLC, signed a contract with The Jin Ma Group Company, Ltd., a real estate development company in Western China, to globalize its operations in the areas of real estate, construction, and hospitality. To be known as Gold Horse International, Inc., the three divisions reportedly grossed over $20 million in revenues, almost $2 million in net profits in 2005, plus net assets exceeding $10 million. Genesis Equity Partners will receive a significant equity position in Gold Horse and ongoing consulting fees for coordination and oversight of its U.S. business activities.
GEP Director, Dr. Joshua Tan in Beijing, said: ``Over the past three months, we screened about 10 Chinese companies, seeking the best candidates that desired to be a public U.S. entity. Gold Horse, named for a famous mountain in Western China, became GEP's top selection. It has excellent management, superior relations with the provincial government, and has consistent and increasing profitability in one of China's most alluring sector, construction and real estate.
``Many of our initial Chinese clients from this program have flourished. Sunwin International Neutraceuticals, Inc. (OTC BB:SUWN.OB - News) and Telecom Communications (OTC BB:TCOM.OB - News) experienced tremendous market success. Gold Horse is considerably our best and most exciting client to date,'' concluded Dr. Tan.
Mr. Yang Liankuan, CEO of The Jin Ma Group, explained: ``We are confident that Gold Horse International, comprised of three profitable divisions in high growth industries, will prove appealing to the Western investment community. Genesis provides a program that is superior to others, and Jin Ma appreciates its management having focused exclusively on China for almost 14 years. We met with Dr. Tan in Beijing, and we are confident that Jin Ma will enjoy a long-term, prosperous relationship with Genesis.''
About The Jin Ma Group Company, Ltd.
The Jin Ma Group Company, Ltd., founded in 1980, is a real estate and construction company located in Inner Mongolia. The Company is recognized as a Level II national construction company. Jin Ma currently has 938 employees. It has achieved ISO9001, ISO14001, and GB/T28001 standards. Gold Horse International will be a U.S.-established corporation that includes three Jin Ma subsidiaries: construction, real estate, and hospitality. For these companies, revenues for 2003-2005 exceeded $43 million, with net profits of about $4 million. Net assets of Gold Horse exceed $10 million, based on the most recent appraisals.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. is a business development firm that fosters bilateral commerce between Western and Chinese companies. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. The Company has offices in the United States and China. A 75% owned subsidiary of Genesis, Genesis Equity Capital, LLC assists Chinese and Western companies in formulating strategies to increase equity value, while targeting Western stock exchanges as a source of capital and shareholder support. The core strength of GEP management is creating a first rate plan to create investor awareness and bring in long-term individual and institutional investors. GEP should create liquidity in the stock and gain investor awareness by using tested channels of communications by cogently articulating the companies' stories. GEP has built successful channels with expertise in screening and selecting Chinese companies that possess solid business histories and professional management, and North American public companies and shells that possess a shareholder base and a history of auditing and filing, as required by the U.S. Securities & Exchange Commission. For more information, visit http://www.genesis-technology.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute ``forward-looking statements.'' Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate,'' ``project,'' ``intend,'' ``forecast,'' ``anticipate,'' ``plan,'' ``planning,'' ``expect,'' ``believe,'' ``will likely,'' ``should,'' ``could,'' ``would,'' ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Technology Group, Inc.
Kenneth Clinton
(561) 988-9880
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Very nice break out at 10 cents and ran up tp .15 - I only put it on my "china" play list yesterday
http://stockcharts.com/def/servlet/SC.web?c=usxp,uu[e,a]daclyyay[dc][pc50!c200!d20,2!c9!f][vc60][ila10,20,5!lb14!lh14,3][J70178068,Y]&listNum=21
Held up well on great vol..nice gains.
Elite g says its in a g-pattern..however he says it may have over supply..not sure what that is, but anyone read more in his thread G-place in the $1000000 main thread.
I may look to get in if i can free up some cash.
glta
julia
Hey....we forgot to post that news that caused the rock'n and a rollin today :) Closed up 70% today.
Wednesday, February 22 2006 6:30 AM, EST
Genesis Technology Group's First Quarter 2006 "Shows Significant Improvement" and Reaches Breakeven Status and Profitability Forecast
>BOCA RATON, Fla., Feb. 22, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC), a business development and marketing firm that specializes in procuring opportunities in China, released its 10-QSB for the first quarter 2006. The results, in the view of management, have positioned the Company to reach profitability and positive cash flow in the next quarter.
CFO Adam Wasserman reported: "The financial condition of the Company, from the first quarter 2005 to the first quarter 2006, shows significant improvement. For the three months ended December 31, 2005, we reported a net loss of $223,123 or $(0.00) per common shares compared to a net loss of $1,144,716 or $(0.02) per common share for the three months ended December 31, 2004, a decrease of $921,593. For the three months ended December 31, 2005, our total operating expenses decreased by $894,749 compared to the three months ended December 31, 2004.
"This progress positions Genesis to reach profitability with its GEP profit center and other business development contracts showing good promise. In addition, the Company's stock holdings in SunWin (OTCBB:SUWN), Dragon Capital (Pink Sheets:DRGV), and other publicly trading companies have shown positive trends that could move Genesis to profitability and positive cash flow in the 2nd quarter 2006," concluded Mr. Wasserman.
Kenneth Clinton, Company President, who will be departing for China to meet with the previously announced (10-KSB 2005) merger candidate: "We have conducted three productive in-person meetings with our potential merger partner-in Gansu Province in China, in San Francisco and at our Florida headquarters-and we are confident that the March meetings in China could prove conclusive."
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (also referred to as "Genesis China") is a business development firm that fosters bilateral commerce between Western and Chinese companies. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. GTEC supports the complete circle for Chinese companies entering the public market through its various subsidiaries. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both Western and Chinese companies, focusing on emerging technology and natural resource industries. For reference, visit http://www.genesis-china.net
Entry at 0.13 and exit at 0.15 yesterday. Was watching it gap up today morning. Then watched the consolidation today. Will buy again on dip tomorrow. This moves fast. China and merger news are good for this stock.
Quote from: Lucas Scott on November 25, 2005, 12:37:31 AM
Seeing a thread on this ol' dog takes me back. I bought the top back in Feb 04 at .45. Sold half for a 35% loss and let the other half "run" which turned into a a 65% loss :'( Would be nice to make back some of that loss. Not convinced that now is the time to jump back in. If RSI can break resistance at 50 on the weekly for the first time in two years, I might throw some money at it. This is the third test of 50 in the last 18 months. Watching...
This "old dog" been running like a pup.... ;D
Technicals
Record Volume
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
129.48%above 13-day EMA
303.55%above 50-day EMA
new 52 week high :o
I am in @ 0.4$ >:D
Board of Directors Conduct Quarterly Meeting in Beijing, China to Assess Accomplishments and Direction of GTEC
Wednesday March 15, 6:30 am ET
BEIJING, March 15, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News), a business development and marketing firm that specializes in procuring opportunities in China, released a summary of the quarterly Board of Directors meeting conducted in Beijing last week. Directors were unanimous that the Company had reached the most promising and sound position in its 4-year history, with profitability a distinct possibility for the quarter ending March 2006.
Gary L. Wolfson, Chairman and CEO, observed: ``The Company is in its best position since its inception. It has virtually retired the $2 million debt it incurred through an SB2 registration in 2004. Cash and cash equivalents have reached nearly $3 million. Perhaps most importantly, the Genesis business model, a specialized merger and acquisitions program for qualified Chinese companies, appears to have placed the Company in a position of sustained profitability. Our loyal shareholders, who endured a difficult 2005, as management totally revamped and reorganized Genesis, are reaping the benefits of our efforts and their own patience and confidence.''
Summarizing other achievements and goals, the Company has:
-- Reached a sound position with ample cash reserves and a low
burn rate to operate efficiently for the foreseeable future. It
does not anticipate engaging in any fund-raising activities in
the current fiscal year. Near-term profitability seems
increasingly likely.
-- Refined its business model that specializes in marketing Merger
and Acquisition products to qualified Chinese companies in
accessing Western markets. These companies are all profitable,
have significant cash on hand, and revenues between $12 million
to $80 million. As this program has evolved, the estimated
financial benefits for Genesis range from a quarter of a
million dollars to $5 million per project.
-- Succeeded in contracting with The Jin Ma Group in creating
Gold Horse International, Inc., a private U.S. corporation
designed to become publicly trading during 2006. This
construction, real estate and hospitality enterprise has
recorded annual revenues exceeding $20 million and net profit
above $2 million. Other prospective client companies are
reaching final contract stages, and such achievements could be
announced in the coming weeks.
-- Benefited from the increased value of previous business
development projects in China, including the performance of SunWin
Nutriceuticals (OTC BB:SUWN.OB - News), Dragon Capital (Other OTC:DRGV.PK - News)
and others. The value of such holdings, in cash, stock and
warrants, now exceeds $3 million.
-- Advanced its negotiations with a merger partner in Western China
that has $40 million in assets, over $60 million in revenues, and
nearly $7 million in net profits. After five extensive meetings in
China and the U.S., the negotiations have reached the final due
diligence and audit phases. Management anticipates that this
merger opportunity should be brought to a definitive conclusion in
the next 60 days. Such a proposal would require a majority vote
by the Board of Directors and the Company's shareholders.
-- Scheduled its Annual Shareholders Meeting in Beijing on
Friday, May 19, 2006, to accommodate its increasing number of
Chinese shareholders and to educate its Western shareholders
concerning the opportunities and challenges of conducting
business in the People's Republic of China. The China World
Hotel (No. 1 Jianguomenwai Avenue) shall be the headquarters
for the meeting.
20 EMA support ??
news out >:D
<Genesis Equity Partners Acquires Interest in Chinese Pharmaceutical Company
Tuesday March 21, 6:30 am ET
Popular Hypertension Drug Leads Array of Effective Medications
BOCA RATON, Fla., March 21, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced that its subsidiary, Genesis Equity Partners, LLC, signed a contract with the Liang Fang Pharmaceuticals, Ltd., one of China's most respected and innovative drug development, medical device, and retail drug store enterprises.
Liang Fang reportedly grossed over $15.8 million in revenues, almost $ 2.6 million in net profits in 2005, plus net assets exceeding $ 7.5 million. For the past three fiscal years combined, Liang Fang's revenues exceeded a total of $ 31.2 million. Based on its first quarter sales for 2006, the Beijing-based manufacturer, which also has 10 retail outlets, forecasts an increase to over $20 million in revenues this year. Genesis Equity Partners will receive a significant equity position in Liang Fang and ongoing consulting fees for coordination and oversight of its U.S. business activities.
Among Liang Fang's best selling products, Valsartan Capsules are a medicine for primary hypertension or high blood pressure. Valsartan first came to market in America in 1996, known as Diovan. The Novartis AG version of the Diovan product generated almost 17 percent of that company's 2004 revenues from branded pharmaceuticals. Novartis predicted the drug might be its first to generate annual revenues of more than $5 billion.
Dr. Liu Zhongyi, CEO of Liang Fang, commented: ``In July 2001, the National Drug Administration authorized Liang Fang for the production of Valsartan. With increased production and marketing, we believe that it should dominate the Chinese market, where over nine percent of the population suffers from high blood pressure.
``Valsartan is just one example of the important and successful array of drugs that Liang Fang has acquired or developed and marketed over the years. Liang Fang intends to become a global brand, although the market in China is large enough to sustain our growth rate at over 40% annually. We realize that Western marketing is often the key to such success, and we intend to capitalize on Genesis's expertise and network in China, Latin America, and the United States.
``We selected Genesis because of its long history of success and expertise in China. We carefully studied its GEP merger and acquisition program, and believe that Liang Fang can flourish globally. In our evaluation, we also reviewed the performance of another Genesis Chinese client, SunWin Neutraceuticals (OTC BB:SUWN.OB - News), and we are confident that Liang Fang could exceed its success, as a U.S. publicly traded company,'' concluded Dr. Liu.
Dr. Shaohua Tan, the Genesis Director who negotiated the Liang Fang contract, added: ``We are enthused to add Liang Fang to the list of GEP clients. This month, Messrs. Wolfson and Clinton joined me in inspecting the world-class Liang Fang manufacturing plant and two of its Beijing retail stores. The Company's management, facilities and obvious growth potential impressed us immensely.
``Last month, we announced that Gold Horse International became the newest member of our innovative merger and acquisition program. Its market sector, construction and real estate development, ranks among the most active in China. Now, with Liang Fang, we are entering the health care and pharmaceutical arena, perhaps the fastest growing industry worldwide.''
Annual Shareholders Meeting scheduled on Friday, May 19, 2006, at 1 o'clock P.M. at the China World Hotel in Beijing, China, located at No. 1 Jianguomenwai Avenue; telephone (8610) 6505-2266, facsimile (8610) 6505-0828, email
[email protected] and website http://www.shangri-la.com.
Press Release Source: Genesis Technology Group, Inc.
Genesis and Beijing Pharmaceuticals Partner Announce Four New Drugs and Revenues Increase
Thursday May 11, 6:30 am ET
BOCA RATON, Fla., May 11, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced that Lotus Pharmaceuticals, Inc., its health care and pharmaceuticals partner in Beijing, has commenced programs to increase its 2006 revenues above $20 million with about 15% in net profits, to launch its new U.S. public corporation through a reverse merger, and to establish Lotus as a national brand in China. New facilities, manufacturing capability, and four drugs scheduled to come to market in the fall all contributed to the increased forecasts. Based on these revised projections and its significant equity stake in Lotus, Genesis estimates its own net gain could exceed $2 million.
At present, Lotus is undergoing an independent audit of its financial statements by a New York certified public accounting firm that will enable Genesis to create the publicly traded company, in which Genesis will have a percentage ownership, during this calendar year. Since March 2006, when Genesis Equity Partners acquired a significant interest in Lotus Pharmaceuticals, Inc., Lotus increased its revenues and profits forecasts by over 30% based on first quarter sales -- exceeding $5 million -- and these three major developments, announced last week:
-- Lotus opened its newly-built facilities to produce freeze-dry
powder injections, small-volume injections and eye drops with
total investments of $245,000, which passed the National GMP
Certification with the Certificate Number G3452.
-- Exclusive new drug curing open-angle glaucoma, alpha-2 Receptor
Excitant-brimonidine tartrate material and eye drops (Muxin) was
approved by the State SFDA (registration number of approval: SDPD
H20041215), and came to market in September; the sales in three
months totaled RMB $244,000 with a profit of $100,000.
-- Levofloxacin Lactate Freeze-Dry Powder Injection (Junxin), the
broad spectrum antibiotic ranks first on use level in the world
was approved by the State SFDA (registration number of approval:
SDPD H20050501), and also came into the market in September; the
sales in three months was $400,000 with a profit of $134,000.
Dr. Liu Zhongyi, CEO of Lotus Pharmaceuticals, commented: ``Lotus is on track to become a U.S. publicly traded company in 2006. With Genesis as our equity partner and U.S. representative, we are confident that Lotus will be well received by investors. Our goal is to establish Lotus (known in China as Liang Fang) as one of the country's most prominent pharmaceutical companies. Future investment will not only expand Lotus's market nationally, but, ultimately, we believe that it could become an international brand.
``In addition to well-established Valsartan Capsules for the treatment of hypertension, Lotus has submitted the following new drugs for SFDA approval and marketing in China:
1. Broad spectrum antibiotic: Gatifloxacin Lactate Injection
(Acceptance No.: CXHS0503239 Beijing and CXHS0503240 Beijing)
2. Broad spectrum antibiotic: Gatifloxacin Lactate Freeze-Dry Powder
Injection (Acceptance No.: CXHS0503288 Beijing and CXHS0503289
Beijing).
3. A new drug used to cure acute and chronic ambient circulatory
disturbance, and ameliorate the low conation caused by cerebral
infarction sequela and affective disturbance: Nicergoline
Freeze-Dry Powder Injection (Acceptance No.: CYHS0506815 Beijing).
4. A new drug used to cure cerebral edema resulted from various
courses of disease, swelling caused by wound or operation and
venous return disturbance: Sodium Aescinate Freeze-Dry Powder
Injection (Acceptance No.: CYHS0506816 Beijing and CYHS0506817
Beijing).
Continued Dr. Liu: ``We anticipate these drugs coming to market in October 2006, and the impact on our sales should be substantial. On Friday, May 19, 2006, at the Genesis Annual Shareholders Meeting in Beijing, I will present a detailed report on the growth and future of Lotus Pharmaceuticals.''
Dr. Shaohua Tan, a member of the Genesis Board of Directors who oversees its China operations, repeated his explanation of the GEP program: ``These developments are a good example of the success of the Genesis business model. Basically, Genesis invests time, effort and money to secure a significant position in Chinese companies with experienced management and a history of success in China. The screening process is rigorous, and few candidates qualify to become GEP partners. Those that do then undergo an independent audit of their financial statements. After months of due diligence and contributions by our auditing, legal and management teams, we can launch these restructured and dynamic companies as U.S. publicly traded corporations.
``The value proposition is clear: the GEP partner companies offer assets, revenues and profits well beyond those available in the West at the costs and investment levels we can negotiate. Furthermore, with the likelihood of the revaluation of the yuan (Chinese dollar) against the U.S. dollar, most experts speculate that the value of such Chinese assets could increase above 25%; of course, this would concomitantly impact the revenues and profits at the same levels. We believe that Genesis has created a business model that could provide sustained profitability for our Company,'' Dr. Tan concluded.
Note: The Annual Shareholders Meeting has been scheduled for Friday, May 19, 2006, at 1 o'clock P.M. at the China World Hotel in Beijing, China, located at No. 1 Jianguomenwai Avenue; telephone (8610) 6505-2266, facsimile (8610) 6505-0828, email
[email protected] and website http://www.shangri-la.com.
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. (known in China as Liang Fang Pharmaceuticals, Ltd.) is a large comprehensive enterprise, which deals in an integration of the production, trade and retailing of pharmaceuticals. It possesses the most advanced pharmaceutical-making equipment now in China, workshops authenticated by the National GMP, a number of first-rate medicines and other types of medicines produced solely in this corporation, and a large group of high-tech personnel. Lotus covers a business and office area of 2,000 square meters and a storehouse of 1,000 square meters. Altogether there are four organs attached to this corporation handling respectively the scientific research on new medicine, the production, wholesale and retail of medicine. The new Lotus Pharmaceuticals website is under construction.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. is a business development firm that fosters bilateral commerce between Western and Chinese companies. The Company has offices in the United States and China. A 75% owned subsidiary of Genesis, Genesis Equity Partners, LLC assists Chinese and Western companies in formulating strategies to increase equity value, while targeting Western stock exchanges as a source of capital and shareholder support. The core strength of GEP management is creating a first rate plan to create investor awareness and bring in long-term individual and institutional investors. GEP should create liquidity in the stock and gain investor awareness by using tested channels of communications by cogently articulating the companies' stories. GEP has built successful channels with expertise in screening and selecting Chinese companies that possess solid business histories and professional management, and North American public companies and shells that possess a shareholder base and a history of auditing and filing, as required by the US Securities & Exchange Commission. For more information, visit http://www.genesis-technology.net
Safe Harbor Statement
Certain statements set forth in this press release constitute ``forward-looking statements.'' Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate,'' ``project,'' ``intend,'' ``forecast,'' ``anticipate,'' ``plan,'' ``planning,'' ``expect,'' ``believe,'' ``will likely,'' ``should,'' ``could,'' ``would,'' ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an
indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Technology Group, Inc.
Kenneth Clinton
(561) 988-9880
[email protected]--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Press Release Source: Genesis Technology Group, Inc.
Genesis Annual Shareholders Meeting Spotlights Company's Financial Strength, China Growth, and Future Success
Tuesday May 23, 7:00 am ET
BEIJING, May 23, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News), a Chinese marketing and investment services company, conducted its Annual Shareholders Meeting on Friday, May 19th, at Beijing's China World Hotel. For those shareholders unable to attend, a synopsis follows:
-- The Company is cash flow positive and only growing stronger; its
clients are increasing in numbers and quality. Management remains
confident that the Company continues on the right course, as
profitability and sustainability remain the primary goal. The next
quarterly report should support this commitment.
-- The opportunity for merger has been a key focus since December
2005. Auditing issues, not to mention the expense of an audit has
been a concern for both parties. However, several other merger
opportunities have presented themselves to Genesis, including
another Chinese company that had over $300 million in revenues last
year. Possible merger candidates with Genesis should be nothing
short of enormous, from financial strength, market sector, to
management. Director Shaohua Tan concluded: "We are in an
excellent position. Our Chinese network and our growing financial
strength have provided us with this luxury. Completing a merger
that will enhance our shareholders' position is a top priority.
For good measure, management must revise its previous timeline
forecast."
-- The progress of Gold Horse International and Lotus Pharmaceuticals,
Genesis' equity partners, is excellent. In less than 90 days, both
companies could be trading, thus dramatically increasing the net
asset value of Genesis. Genesis provides a full circle, turn-key
service for partner companies. Genesis could have an admirable
equity position in five to 10 new public companies within the next
nine months in addition to its six current investments. When
partner companies begin to increase in market cap, as anticipated,
the net asset value of Genesis will increase as well. Prospective
investors can invest in Genesis, thus investing in as many as 10
different companies. If investors determine to invest only in
Lotus Pharmaceuticals, for example, Genesis would still receive
direct benefit.
-- From February 1st to the third week of May, the Company increased
in value about 500%. Seldom do public -- especially NASDAQ Bulletin
Board -- companies show straight line growth, as GTEC rose as much
as 1000% during the interim period. Management is unconcerned
about the vagaries of the day-trading market, as it is only
increasingly confident about the Company's successful business
model and future achievements. Management adheres to "let the
market be your guide" and that the long view is the only
significant perspective.
Chairman Gary Wolfson summarized the two hour, bilingual summit: ``In our first four years as a listed company, 2006 is, by far, our best year to date. We are confident that our model will only improve, providing an excellent return to shareholders. We could not be more encouraged. We discussed the three major interest points: the Company's performance since February 1st, the status of the avidly discussed merger opportunity, and -- perhaps most important -- what we believe the future holds.''
Kenneth Clinton, Genesis President, said: ``Our New York auditor completed a 3-week visit to China, and our CFO joined us here now. These companies should be listed companies in the U.S. -- to the benefit of Genesis, Gold Horse and Lotus shareholders -- in 2006. Of course, we expect to announce several new Chinese clients promptly that could, in turn, be trading by year end.''
A full power point of the proceedings is available on the company's website at http://www.genesis-technology.net
About Genesis Technology Group, Inc.:
Genesis Technology Group, Inc. markets, builds, and obtains equity interest in mid-size and large Chinese companies. The Company has created successful profit centers by incubating Chinese companies in a wide range of sectors, creating ``partner companies.'' The team at Genesis dedicates its expertise and capital resources to expand the potential of these enterprises. To help drive the success and profitability of such partner companies, Genesis provides abundant resources and proficiency to maximize their leadership potential in China and helps position them to create high-margins, with increasing and predictable earnings. The Company has offices in the United States and China. For more information, visit http://www.genesis-technology.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute ``forward-looking statements.'' Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate,'' ``project,'' ``intend,'' ``forecast,'' ``anticipate,'' ``plan,'' ``planning,'' ``expect,'' ``believe,'' ``will likely,'' ``should,'' ``could,'' ``would,'' ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Technology Group, Inc.
Kenneth Clinton
(561) 988-9880
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Press Release Source: Genesis Technology Group, Inc.
Genesis Technology Group, Inc. Releases Audited Annual Report with $2.9 Million in Net Income and Assets of $7.2 Million
Tuesday January 16, 5:58 pm ET
BOCA RATON, Fla., Jan. 16, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) released its Annual Report for fiscal year 2006, the 10-KSB filing, as audited by Sherb & Company of New York. The Company revealed net income of $2.9 million and assets of $7.2 million, making the year its most successful in history. This equates to net income of $0.03 per common share, fully diluted.
Mr. Adam Wasserman, who has served as the Genesis Chief Financial Officer since October 2001, reported: ``The financial condition of the Company continues to show progress. For the year ended September 30, 2006, we reported net income of $2,909,606 or $0.03 per common share, compared to a net loss of $(3,726,929) or $(0.06) per common share for the year ended September 30, 2005, a positive increase of $6,636,535.
``As of September 30, 2006, the Company's total assets amounted to $7,231,773, compared to $1,719,042 on September 30, 2005. Our total operating expenses decreased by $1,066,815 compared to the previous 12 months of operation. Furthermore, through the sale of marketable securities that the Company had previously received for services rendered, our cash and trading marketable securities totaled $1,194,175 on September 30, 2006,'' concluded Mr. Wasserman.
Mr. Gary L. Wolfson, Chief Executive Office, added: ``Management embarked on a difficult task over two years ago to revamp and revitalize our Company. It required hard decisions and decisive action, and we believe the results are starting to be realized. We have assembled teams in the U.S. and China that maintain the highest levels of professionalism and possess the skills to capitalize on the challenges and opportunities uniquely provided by the Chinese economy. Can Genesis sustain such profitability and growth? That is the real challenge. The 'Year of the Golden Pig' graces the Chinese calendar only once every 60 years, and starting New Year's Day, February 18, 2007, we will see if that anticipated period of great prosperity includes Genesis.''
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (``Genesis'' or ``Genesis China'') is a business development and marketing firm that specializes in advising and providing a turn key solution for Chinese small and mid-sized companies entering Western markets. We dedicate our expertise and capital resources to expand the potential of Chinese partner companies. We provide the marketing strategy, counsel, and plans to support our clients' business, financial, or marketing goals. We work closely with top management to define their strategy and business model to develop effective tactics to support business development. Our business mission is to create substantial, incremental stockholder value for emerging growth companies by executing strategy-driven programs that professionally incubate and mature Chinese companies and prepare them for Western markets. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute ``forward-looking statements.'' Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate,'' ``project,'' ``intend,'' ``forecast,'' ``anticipate,'' ``plan,'' ``planning,'' ``expect,'' ``believe,'' ``will likely,'' ``should,'' ``could,'' ``would,'' ``may,'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Technology Group, Inc.
Kenneth L. Clinton, President
(561) 988-9880
Fax: (561) 988-9890
[email protected]--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
It's been some time in between post.......
Here is news about GTEC. OB http://biz.yahoo.com/pz/070403/116511.html
Hi
Do we go up? Yes, we do!!!
http://biz.yahoo.com/pz/070418/117515.html
Press Release Source: Genesis Technology Group, Inc.
Genesis' Pharmaceutical Partner Releases Audited Annual Report with $4.1 Million in Net Profits
Wednesday April 18, 6:30 am ET
BEIJING, April 18, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced that its Chinese pharmaceutical partner yesterday released its 2006 audited annual report. Lotus Pharmaceuticals, Inc. (OTC BB:LTUS.OB - News) revealed gross revenues of $36 million, net profits of $4.1 million and net assets of $20.6 million.
Dr. Shaohua Tan, Genesis' Director headquartered in Beijing, also offered an update for the Genesis private-to-public program that operates under the name Genesis Equity Partners, LLC (GEP), a group of majority-owned subsidiaries, individually designated for each Chinese partner company. Among Dr. Tan's key comments were:
1. Lotus has shown good progress since becoming a GEP partner company
last March. GTEC owns 6.7 million LTUS common shares of the 50
million outstanding. Genesis maintains an active role in Lotus
operations and strategy, having appointed three members on its
board of directors, also serving in an ongoing consulting
capacity overseeing its U.S. office and activities.
2. Gold Horse International, Inc. (GHI) continues to advance to
public company status. Its official U.S. audit required an
updating through December 2006, which has now been completed by
Kabani & Company. GHI has moved into the late stages of the GEP
private-to-public program.
3. The other three GEP partner companies bear U.S. designations and
have entered the exacting U.S. auditing stage. China Environmental
Technologies, Oriental Health Beverages, and Sino Steel Structures
could produce significant profits and assets for Genesis, if
those Chinese companies' U.S. audits and legal due diligence
confirm internal reporting. With each company, Genesis would play
an active role in its management and strategy to attain its
goals and expansion.
4. The revised rules and regulations of the China Securities
Regulatory Commission (CSRC), invoked August-September 2006,
have placed a significant additional burden on GEP and its
competitors. While the full impact is still being determined,
it seems apparent that CSRC rulings have (a) increased the costs
and risks, (b) created additional steps with central government
involvement, and (c) delayed the process to complete the
private-to-public process. Dr. Tan closed by emphasizing that
"any future changes or revisions by the CSRC could have a major
impact on the GEP business model."
Hi
Nice chart
We go up
http://biz.yahoo.com/bw/070427/20070427005460.html?.v=5
Hi http://biz.yahoo.com/pz/070430/118179.html
To today: Resistance is 0.1897 - Support is 0.1717. Today's opinion we go up.
Hi, ??? - Support 0.17, Resistance 0.18
Hi :D
http://www.primenewswire.com/newsroom/news.html?d=119642
Genesis Adds Major Pharmaceutical Company to Its Partnering Program
BEIJING, May 17, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced it has signed a leading Chinese pharmaceutical company as the sixth member of its private-to-public partnering program. Based on information provided by the Chinese company, fiscal 2006 revenues topped $92 million and net profits exceeded 16%.
"Our newest partner company is decidedly our largest to date," remarked Dr. Shaohua Tan, Genesis Director in Beijing. "Our U.S. executive team soon will assemble in China to conduct discussions on how to best utilize this well-established pharmaceutical company in our capital and growth program.
"Gold Horse International, GTEC's partner company engaged in construction and real estate development in Western China, has reached the final stage in the private-to-public program. Interested parties should remain alert as announcements are expected to be made near term. Genesis' other partner companies -- China Environmental Technologies, Oriental Health Beverages and Sino Steel Structures -- are at various stages of the U.S. auditing process.
"We cannot offer a timeline for any of these partner companies to graduate to U.S. public company status. With CSRC regulations and the challenges of performing due diligence on each prospect, it remains a difficult and expensive process. Lotus (OTCBB:LTUS) remains a symbol of our success, and we are confident our other partner companies can join its rank in the future," concluded Dr. Tan.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that earns, enhances and markets equity positions in small to mid-sized Chinese enterprises. Commitment, dedication, and expertise are the key components to the Genesis "Mission Statement." It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined "partner companies." Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Today: support 0.1347, resistance 0.1627
Hi
From: http://www.newratings.com/analyst_news/article_1534742.html
Genesis Technology "speculative buy"
Friday, May 18, 2007 3:27:15 AM ET
JM Dutton & Associates
NEW YORK, May 18 (newratings.com) - Analyst Stanley Ng of JM Dutton maintains his "speculative buy" rating on Genesis Technology Group (ticker: GTEC). The 12-month target price is set to $0.22.
In a research note published yesterday, the analyst mentions that the company has added a big Chinese pharmaceutical company to its partnering programme. The news is expected to have a favourable impact on Genesis Technology's share price going forward, and confirms the company's ability to involve quality companies in its private-to-public partnering programme, the analyst says.
Hi:
From: http://www.newratings.com/analyst_news/article_1537389.html
Genesis Technology "speculative buy"
Wednesday, May 23, 2007 4:56:29 AM ET
JM Dutton & Associates
NEW YORK, May 23 (newratings.com) - Analyst Stanley Ng of JM Dutton maintains his "speculative buy" rating on Genesis Technology Group Inc (ticker: GTEC). The 12-month target price is set to $0.22.
In a research note published yesterday, the analyst mentions that the company has posted net losses of about $1.63 million for the six months ended March 31 due to substantial expenses being incurred and no revenues being recognized. There was no recognition of revenues during the period, since no private-to-public projects were competed in the timeframe, the analyst adds. Genesis Technology is expected to be able to complete two projects during FY07 and three projects during FY08, JM Dutton says.
from: http://www.primenewswire.com/newsroom/news.html?d=120104
Genesis Pharmaceutical Partner, Lotus Pharmaceuticals, Releases First Quarter Results With Revenues Increasing by Nearly 27 Percent
BOCA RATON, Fla., May 23, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that its partner company, Lotus Pharmaceuticals, Inc. (OTCBB:LTUS), released its first quarter results with revenues increasing by 26.73% and working capital reaching nearly $10 million.
The Lotus 10-QSB filing showed total revenues for the three months ended March 31, 2007 were $8,289,535 as compared to total revenues of $6,541,095 for the three months ended March 31, 2006, an increase of $1,748,440 or approximately 26.73%. Lotus reported income from operations of $1,129,779 for the three months ended March 31, 2007. The Company's working capital position increased $1,292,456 to $9,938,532 at March 31, 2007 from $8,646,076 at December 31, 2006.
In its well-established private-to-public program, Genesis has five additional contract partners: (1) Gold Horse International, in the final stage of the program before attaining public company status; (2) China Environmental Technologies, in the final stage of the U.S. auditing process; (3) Oriental Health Beverages, in the final stage of the U.S. auditing process; (4) Sino Steel Structures, in the pre-audit and pre-legal phase; and (5) LJ Pharmaceuticals, in the pre-audit and pre-legal phase.
Today: support 0.1413, resistance 0.1593, opinion BUY
Hi
Hi
from: http://www2.barchart.com/news.asp?sym=GTEC
Press Release Source: Genesis Technology Group, Inc.
Genesis Technology Group Releases Third Quarterly Report Showing Net Assets of $7.6 Million, An Increase of 47.5 Percent
Tuesday August 21, 6:30 am ET
BOCA RATON, Fla., Aug. 21, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) has released its third quarterly report for the period ended June 30, 2007. Net assets were approximately $7,608,000 compared to $5,221,000 on September 30, 2006, an increase of 45.7 percent.
CFO Adam Wasserman summarized: ``For the nine months ended June 30, 2007, we reported revenues of $3,035,000 as compared to $13,333 for the nine months ended June 30, 2006 which was attributable to a Share Exchange Agreement closed on June 29, 2007 by Speedhaul Holdings, Inc., Inc., a publicly-trading company (OTC BB:SPEH.OB - News), whereby GEP, our 51 percent-owned subsidiary, received 16,750,000 restricted common shares of SPEH for services performed in helping Gold Horse International and the Jin Ma Companies facilitate the merger with SPEH and for other business development services. For the nine months ended June 30, 2007, we reported net losses of $1,763,459 as compared to net income of $308,800 for the nine months ended June 30, 2006. At June 30, 2007, our net assets were approximately $7,608,000 compared to $5,221,000 at September 30, 2006, an increase of 45.7 percent.''
CEO Gary L. Wolfson added: ``Our immediate focus is completing the third private-to-public program for another Chinese partner company. If we can achieve this success in the coming six weeks, Genesis could boast of completing three such transformations in a 12-month period, quite an achievement. Genesis partner companies, attaining public company status in the U.S., would be Lotus Pharmaceuticals (OTC BB:LTUS.OB - News), Gold Horse International, and the new Green Power Technologies. Our current business model, although subject to burdensome regulations both in the U.S. and China, is effective and rewarding.''
Opinion: Price 0.0980, Support 0.0947, Resistance 0.1047 HOLD
Press Release Source: Genesis Technology Group, Inc.
Genesis Technology Group Merges With Chinese Pharmaceutical: 'Crowning Achievement' Says Management
Tuesday October 2, 9:34 am ET
BOCA RATON, Fla., Oct. 2, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) has entered into a reverse merger with a company that owns and controls Laiyang Jiangbo Pharmaceuticals Co., Ltd. (``LJPC''), a Chinese pharmaceutical company. For its fiscal year ended June 30, 2007, the Company reported total revenue of $76,000,000; net income of $22,000,000; total assets of $55,000,000; and cash on hand of $17,000,000.
Located in a coastal city in Shandong Province, LJPC underwent an official audit by Moore Stephens Wurth Frazer and Torbet, LLP of Los Angeles, California, in addition to a rigorous due diligence process by Genesis management and consultants.
Based on research performed by a U.S. consulting firm and merchant bank, which inspected the LJPC facilities in Laiyang City last month, revenues have grown by an average of 187% over the previous two years, and net income has risen by an average of 748% over the same period.
Mr. Gary L. Wolfson, Genesis CEO since August 2002, reported: ``Since early 2003, Genesis management has earnestly and methodically sought a merger partner. Under the guidance of Dr. Shaohua Tan in China, we screened numerous candidates, and none could match the strength and potential of Laiyang Jiangbo Pharmaceuticals.
``It is an honor to turn over the future of the merged company to the leadership of Mr. Wubo Cao and his experienced team. Mr. Cao shall serve as the Chairman and Chief Executive Officer. It is our belief that the existing Genesis shareholders will be rewarded for their patience and dedication. In many ways, this merger is the crowning achievement of many years of effort and planning by Genesis management.
``The details of the merger will be explained fully in filings with the Securities & Exchange Commission and in a letter to be posted on our website http://www.Genesis-China.net,'' explained Mr. Wolfson.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that partners with qualified Chinese companies to expand their domestic and international market opportunities. The customized private-to-public program seeks to tap in to Western capital markets to attain this goal. Commitment, dedication, and expertise are the key components to the Genesis ``Mission Statement.'' It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined ``partner companies.'' Genesis makes a long-term commitment with management consultation, board of directors' composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. The forgoing description is prior to completion of the merger, which has resulted in Genesis Pharmaceutical Enterprises, Inc., the name of the merged company. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement and Disclaimer
Certain statements set forth in this press release constitute ``forward-looking statements''. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate'', ``project'', ``intend'', ``forecast'', ``anticipate'', ``plan'', ``planning'', ``expect'', ``believe'', ``will likely'', ``should'', ``could'', ``would'', ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission. The capital and growth program, the Company's central profit center, has specific risks and liabilities. Followers of our business model must understand that, until the Chinese partner company officially reaches public company status and files its initial Form 8-K, a high degree of risk exists that the partner may not ever attain that status. While receipt of a significant equity position in these companies is contractual, Genesis still recognizes that such compensation is conditional on performance and specific deliverables.
Contact:
Genesis Pharmaceutical Enterprises, Inc.
Elsa Sung, Chief Financial Officer
(800) 867-0078, ext. 602
Fax: (561) 988-9890
[email protected] 7900 Glades Road, Suite 420
Boca Raton, Florida 33434
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Quote from: setravis on October 02, 2007, 03:53:43 PM
Press Release Source: Genesis Technology Group, Inc.
Thank you, I applaud
How about that closing chart... :o ;D ;)
Press Release Source: Genesis Technology Group, Inc.
Genesis Technology Group Posts Letter to Shareholders Detailing Merger With Chinese Pharmaceutical Company
Wednesday October 3, 8:30 am ET
BOCA RATON, Fla., Oct. 3, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News) announced on Monday that it had completed a reverse merger with a company that owns and controls Laiyang Jiangbo Pharmaceuticals Co., Ltd. (``LJPC''), a Chinese pharmaceutical company.
To inform its shareholders and interested parties, the Company has posted on its website a detailed letter from management, explaining the structure and history of the merger, a profile of LJPC, and the future of the merged company, now known as Genesis Pharmaceutical Enterprises, Inc. The letter, in its entirety, is accessible at http://www.Genesis-China.net. Additional information is available under recent filings with the Securities & Exchange Commission.
Located in a coastal city in Shandong Province, LJPC underwent an official audit by Moore Stephens Wurth Frazer and Torbet, LLP of Los Angeles, California, in addition to a rigorous due diligence process by Genesis management and consultants. The law firm of Richardson & Patel P.A., also located in L.A., represented LJPC during the merger process.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that partners with qualified Chinese companies to expand their domestic and international market opportunities. The customized private-to-public program seeks to tap in to Western capital markets to attain this goal. Commitment, dedication, and expertise are the key components to the Genesis ``Mission Statement.'' It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined ``partner companies.'' Genesis makes a long-term commitment with management consultation, board of directors' composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. The forgoing description is prior to completion of the merger, which has resulted in Genesis Pharmaceutical Enterprises, Inc., the name of the merged company. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement and Disclaimer
Certain statements set forth in this press release constitute ``forward-looking statements''. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate'', ``project'', ``intend'', ``forecast'', ``anticipate'', ``plan'', ``planning'', ``expect'', ``believe'', ``will likely'', ``should'', ``could'', ``would'', ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission. The capital and growth program, the Company's central profit center, has specific risks and liabilities. Followers of our business model must understand that, until the Chinese partner company officially reaches public company status and files its initial Form 8-K, a high degree of risk exists that the partner may not ever attain that status. While receipt of a significant equity position in these companies is contractual, Genesis still recognizes that such compensation is conditional on performance and specific deliverables.
Contact:
Genesis Pharmaceutical Enterprises, Inc.
Elsa Sung, Chief Financial Officer
(800) 867-0078, ext. 602
Fax: (561) 988-9890
[email protected] 7900 Glades Road, Suite 420
Boca Raton, Florida 33434
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
On the move early....... ;)
+22.58%.......Volume @ 3,059,230
Press Release Source: Genesis Technology Group Inc.
Genesis Technology Group Retains CCG Elite
Wednesday October 24, 11:17 am ET
LOS ANGELES and LAIYANG, China, Oct. 24 /Xinhua-PRNewswire-FirstCall/ -- Genesis Technology Group Inc. (OTC Bulletin Board: GTEC - News; to be known as Genesis Pharmaceutical Enterprises, Inc.) ("GTEC" or "the Company"), a leading pharmaceutical company in the People's Republic of China ("PRC"), today announced that it has retained CCG Elite to design and execute its investor relations campaign.
Genesis, through its wholly-owned subsidiary Laiyang Jiangbo Biotech Technologies Co., Ltd. ("JiangBo"), is engaged in the research, development, manufacture and sale of pharmaceutical products in the PRC. One of the major pharmaceutical companies in the PRC, Genesis offers a full product line of both western medical drugs and Chinese herbal-based medical drugs in tablet, capsule and granule forms. For the year ending June 30, 2007, net sales for Genesis totaled $76.2 million, up approximately 55 percent from $49.2 million in 2006.
"We are a rapidly growing, large non-state-owned pharmaceutical producer in Shandong Province," said Mr. Cao Wubo, the Chairman and CEO of Genesis Technology Group. "We look forward to working with CCG Elite to increase our visibility in both the investment community and with the financial media as we continue to execute our growth strategy."
Pharmaceutical demand in the PRC is forecast to expand by more than 13 percent annually to reach RMB385 billion (about US$51 billion) by 2010. Consumption and production of pharmaceuticals in the PRC is expected to increase rapidly over the long term because of strong economic growth, changing demographic patterns, and the reform and expansion of health care systems.
"JiangBo is a large pharmaceuticals producer with products distributed via hospital and medical outlets in China, with an advanced technology, an experienced management team and a strong, competitive marketing presence," said Crocker Coulson, President of CCG Elite. "The company is well-positioned to take advantage of increasing demand for pharmaceuticals in China. We intend to assist the company to develop a broader following with fund managers and analysts focusing on high growth equities from China through an integrated investor relations program."
The Company maintains a representative office in the United States, where its Chief Financial Officer and a support staff are located. For more information, refer to http://www.Genesis-China.net.
About CCG Elite
CCG Elite is uniquely positioned to provide an outsourced, high-level investor relations solution that combines in-depth understanding of Asia's corporate culture and economic scene with a direct pipeline into the leading funds and broker-dealers in the United States. CCG Elite is a global, full- service investor relations agency with corporate headquarters in Los Angeles, and offices in New York, Newport Beach, Dallas, Hong Kong and Beijing. For further information, contact CCG Elite or visit the company's website at http://www.ccgelite.com.
About Genesis Technology Group, Inc.
Genesis, through its wholly-owned subsidiary Laiyang Jiangbo Biotech Technologies Co., Ltd. ("JiangBo"), is engaged in the research, development, manufacture and sale of pharmaceutical products in the PRC. One of the major pharmaceutical companies in the PRC, Genesis offers a full product line of both western medical drugs and Chinese herbal-based medical drugs in tablet, capsule and granule forms. Jiangbo has several Certificates of Good Manufacturing Practices for Pharmaceutical Products from the Shandong State Drug Administration, and currently produces 5 major product categories in 3 forms.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward- looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential rights and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
For more information, please contact:
Genesis Technology Group
Ms. Elsa Sung, CFO
Phone: +1-800-867-0078 ext. 602
Email:
[email protected] CCG Elite Investor Relations Inc.
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email:
[email protected]--------------------------------------------------------------------------------
Source: Genesis Technology Group Inc.
Press Release Source: Genesis Technology Group, Inc.
Genesis Technology Group Releases Partner Company's 2007 Audited Annual Report
Wednesday October 17, 7:00 am ET
BOCA RATON, Fla., Oct. 17, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News), to be known as Genesis Pharmaceutical Enterprises, Inc. through a recently-completed merger, released the audited annual report from one its former partner companies: Speedhaul Holdings, Inc. (OTC BB:SPEH.OB - News).
Speedhaul Holdings, to be known as Gold Horse International, Inc., and Lotus Pharmaceuticals, Inc. (OTC BB:LTUS.OB - News) represent residual holdings that Genesis manages on behalf of its shareholders. The private-to-public program is no longer an ongoing profit center for Genesis Pharmaceutical Enterprises, Inc.
Yesterday, Speedhaul Holdings released its 2007 Annual Report, for the fiscal year ended June 30th, showing revenues of $28.3 million, net profits of $2.6 million, and net assets of $15.37 million. Year-to-year, net revenues increased 25.3%, and net income increased 55.5%. Kabani & Company of Los Angeles, California conducted the Company's audit.
Mr. Adam Wasserman, Speedhaul Chief Financial Officer, summarized the Company's year-to-year performance: ``For the year ended June 30, 2007, net revenues amounted to $28,322,306 compared to $22,608,755 for the year ended June 30, 2006, an increase of $5,713,551 or 25.3%. Additionally, for the year ended June 30, 2007, net income amounted to $2,594,526 as compared $1,668,699, an increase of $1,409,247 or 55.5%. For the years ended June 30, 2007 and 2006, net income per common shares was $.05 and $.03, respectively.''
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (to be known as Genesis Pharmaceutical Enterprises, Inc.) is a U.S. public company engaged in research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province and is one of the major pharmaceutical companies in China producing tablets, capsules, and granules for both Western medical drugs and Chinese herbal-based medical drugs. The Company maintains a representative office in the United States of America, where its Chief Financial Officer and support staff are located. For more information, refer to http://www.Genesis-China.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute ``forward-looking statements''. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate'', ``project'', ``intend'', ``forecast'', ``anticipate'', ``plan'', ``planning'', ``expect'', ``believe'', ``will likely'', ``should'', ``could'', ``would'', ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Pharmaceutical Enterprises, Inc.
Elsa Sung, Chief Financial Officer
(800) 867-0078, ext. 602
Fax: (561) 988-9890
[email protected] 7900 Glades Road, Suite 420
Boca Raton, Florida 33434
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Press Release Source: Genesis Technology Group, Inc.
Genesis Offers Summary of S.E.C. Filing and Official Audit Report
Tuesday October 9, 7:55 am ET
BOCA RATON, Fla., Oct. 9, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTC BB:GTEC.OB - News), on October 1, 2007, announced the completion of a reverse merger with a company that owns and controls Laiyang Jiangbo Pharmaceuticals Co., Ltd. (``LJPC''), a Chinese pharmaceutical company. As required, the Company has completed the filing of its Form 8-K with the Securities and Exchange Commission and accepted delivery of the official audit performed by Moore Stephens Wurth Frazer and Torbet, LLP of Los Angeles, California.
Genesis management urges shareholders and interested parties to carefully study the entire filing, commonly referred to as a ``Super 8-K'', at http://www.sec.gov. The following are selected facts from that document:
LJPC is engaged in research, development, production, marketing and sales of pharmaceutical products. It is located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province and is one of the major pharmaceutical companies in China producing tablets, capsules, and granules for both Western medical drugs and Chinese herbal-based medical drugs.
Pertaining to the official audit: for the year ended June 2007, net profits totaled $22,053,056, compared to the previous year's total of $7,736,167. For the same period, total assets reached $55,397,059 (2007) compared to $36,472,948 (2006); and sales of $72,259,812 (2007) compared to $45,242,987 (2006) in the audited report. Net cash flow used in operating activities was $2,943,843 in fiscal 2006 while net cash flow provided by operating activities was $15,291,968 in fiscal 2007.
LJPC has several Certificates of Good Manufacturing Practices for Pharmaceutical Products (GMP Certificates) issued by the Shandong State Drug Administration (SDA) and currently produces over 30 types of drugs.
The Company has a well-established sales network across China. It has a distribution network covering 26 provinces in the PRC. Currently, LJPC has approximately 1,060 distribution agents and more than 1,280 employees, including 220 production crew, 440 full-time salespersons and 620 part-time salespersons.
The Form 8-K, released on October 9, 2007, offers detailed, unabridged information, and Genesis management urges all interest parties to study the document in its entirety. The forgoing information, in this news release, has been excerpted and abridged.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (to be known as Genesis Pharmaceutical Enterprises, Inc.) is a U.S. public company engaged in research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province and is one of the major pharmaceutical companies in China producing tablets, capsules, and granules for both Western medical drugs and Chinese herbal-based medical drugs. The Company maintains a representative office in the United States of America, where its Chief Financial Officer and support staff are located. For more information, refer to http://www.Genesis-China.net.
Safe Harbor Statement and Disclaimer
Certain statements set forth in this press release constitute ``forward-looking statements''. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ``estimate'', ``project'', ``intend'', ``forecast'', ``anticipate'', ``plan'', ``planning'', ``expect'', ``believe'', ``will likely'', ``should'', ``could'', ``would'', ``may'' or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Genesis Pharmaceutical Enterprises, Inc.
Elsa Sung, Chief Financial Officer
(800) 867-0078, ext. 602
Fax: (561) 988-9890
[email protected] 7900 Glades Road, Suite 420
Boca Raton, Florida 33434
--------------------------------------------------------------------------------
Source: Genesis Technology Group, Inc.
Note the big volume and the unusual business model with foreign implications (namely China).......
Technicals
Percentage Gainer
Last Price Quote is:
18.41%above 13-day MA
65.91%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): $24.73
P/E Ratio: 42.21
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Another pop this morning.......
Genesis Technology Group Merges With Chinese Pharmaceutical, "Crowning Achievement" Says Management !
52wk Range: 0.09 - 0.40
Volume: 1,993,233
Avg Vol (3m): 1,034,980
Technicals
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
33.17%above 13-day MA
86.59%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): $24.73
P/E Ratio: 42.21
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A