> BOCA RATON, Fla., Sept. 26, 2005 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC), announced that its subsidiary, Genesis Equity Partners, LLC ("GEP") signed a contract with Sichuan Intelligence Rare Earth Science & Technology Co., Limited ("ZNREO") to provide services and initiate the process to obtain an OTCBB listing for ZNREO, in exchange for a combination of cash fees and a block of shares of ZNREO's future common stock. Through the registration solution offered by GEP, ZNREO will be able to register the resale of securities and become a publicly traded company.
ZNREO, through its subsidiaries, controls a rare earth mine resource and a processing plant (flotation), as well as some associated facilities such as roads, power station, tailings dam and staff quarters and canteens related to the mining and processing operations. The mine is located in Dechang County, Sichuan Province, China. The total assets of ZNREO are valued at over 200 million RMB. The company is currently producing rare earth concentrate of about 50% grade, which it sells to refineries in other parts of China as a medium-scale strip mine.
Returning from a recent trip to China, Genesis President Ken Clinton reported: "The company's founders understood the many benefits of going public. Because of our reputation in China, many companies like ZNREO have approached Genesis seeking the most economical way of introducing their company to Western markets. We have met with hundred of companies in the last year, and we have selected a solid core of companies to penetrate the U.S. financial markets in the next few months. To date, our role as a consultant to Chinese companies, seeking to go public, has been extremely profitable. We have determined that this model is our most dynamic profit center.
"We offered a solution that should have ZNREO trading in short term for a price that fits well into the company's budget. Plus, once they begin trading, GEP will consult with them on how to attract capital while overseeing the company's compliance program to make sure they stay current in their filings. We have seen mining companies have tremendous success; they are an outstanding group in a desirable sector, and we for see admirable success for GTEC.
"Because assisting qualified Chinese companies has proved so financially rewarding, the Company created Genesis Equity Partners, LLC in June to focus on this program. I traveled to China in July, and Gary Wolfson traveled to China in August, meeting with over a dozen candidate companies. We forecast the GEP could become the Company's most active and profitable subsidiary," concluded Mr. Clinton.
NOTE: GTEC will host its annual shareholders' meeting on May 18, 2006 in Shanghai, China.
About Sichuan Intelligence Rare Earth Science & Technology Co., Ltd.
Sichuan Intelligence Rare Earth Science & Technology Co., Limited, founded in 1999, is developing, producing, processing and distributing Rare Earth products, iron boron magnetism material. The ore body covers an area of more than 500,000 m2, with a mineral thickness of 42 m and a topographic slope of 15-32% on the average. The conservatively estimated geological reserve is 3.6 million tons, and the average rare earth (REO) grade is approximately 5%, with the highest up to 17.68%. With a design annual yield of raw ore of 0.3 million tons, this mine is classified.
About Genesis Equity Partners, LLC
Genesis Equity Partners, LLC (GEP) serves as an excellent instrument for Chinese companies that desire to draw upon the wealth of investment capital that is available to public corporations. GEP's mission is to create substantial, incremental stockholder value for Chinese companies. GEP can effectively market and present qualified companies, such as ZNREO, to the investment and business community. GEP's team of consultants has developed a proven model for Chinese companies built to deliver corporate governance and compliance services for OTCBB companies specifically with regards to the new Sarbanes-Oxley Act regulations. Not only can GEP create shareholder value, but it can develop a myriad of business opportunities as well creating a long term sales and marketing strategy for the U.S. and Latin American markets. GEP has know-how and everyday experience of working as a partner with Chinese companies and U.S. public markets.
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. The Company has fully staffed offices in the United States, Hong Kong and China. 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 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 Clinton Phone: (561) 988-9880 Fax: (561) 988-9890 Email: KenClinton@genesis-technology.net
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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the more i look at this the more i like it, its gonna pop
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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Genesis Technology Group Signs Letter of Intent to Sell Subsidiary for $500,000 in Stock Transfer 9/28/05
BOCA RATON, Fla., Sept. 28, 2005, Sep 28, 2005 (PRIMEZONE via COMTEX) -- 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
seems this company knows what it wants....
Posts: 1533 | From: jacksonville, nc, usa | Registered: Dec 2004
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yup, looks good for a nice pop lots of room to run, jumpin in today
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot. Posts: 5320 | From: Syracuse, NY | Registered: Apr 2005
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Hot Stocks to Watch for Thursday, November 03, 2005: Succeeding in an Industry That Yields Billions! 11/3/05
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Peter Antipatis of Capital Research Group Inc.
WESTON, FL, Nov 03, 2005 (MARKET WIRE via COMTEX) --
Genesis Technology Group, Inc. (OTC BB: GTEC) just 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.
The PPS is low. I'm looking for volume to enter!
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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Genesis Technology Group Selected by Shanghai Aerospace to Lead U.S. Initiative in Distance Learning Program 11/3/05
BOCA RATON, FL, Nov 03, 2005 (MARKET WIRE via COMTEX) -- 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.netPosts: 2329 | From: MD | Registered: Jul 2005
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i cant believe scottrade's website said trading was down. i was unable to place orders until now...
Posts: 2329 | From: MD | Registered: Jul 2005
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Whats your take on it lil. Thats probably the third uptick and then an immediate downtick. Slow volume. Is it done? Matt
Posts: 1504 | Registered: Sep 2004
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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.
This is HUGE!
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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AND another. They're actually doing something!
Genesis Technology Group, Inc. (OTC BB: GTEC) announced that its subsidiary, Genesis Equity Partners, LLC ("GEP"), signed a contract with Mr. James I.C. Chiang, one of China's most accomplished entrepreneurs, to source and represent Chinese companies qualified to enter Western markets. As Chairman of the Asian Council of America since 1986, Mr. Chiang expressed his confidence by forecasting "$10 million in income near term for our new partnership."
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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