Grosse Chance WKN 931506
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BOCA RATON, Fla., Oct. 2, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) 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
info@Genesis-China.net
7900 Glades Road, Suite 420
Boca Raton, Florida 33434
Source: PrimeNewswire (October 2, 2007 - 8:34 AM EST)
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Wird Zeit, dass die Rakete zündet!
8K draussen - Zahlen mMn sehr gut ==> also 5-4-3-2-1 goooooooooo...
2; was müsste für eine meldung kommen (bzw. wäre vorstellbar) um noch einen hype auszulosen. ich kenn mich mit den reverse merger nicht so aus. was ist da an meldung möglich.
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.
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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.
Times & Sales
Uhrzeit Kurs§letztes Volumen kumuliert
16:16:19 0,20 5.000 104.634 §
16:16:13 0,186 10.000 99.634 §
16:15:45 0,20 5.100 89.634 §
15:59:30 0,204 5.000 84.534 §
15:45:13 0,201 7.000 79.534 §
14:59:31 0,208 4.000 72.534 §
14:53:26 0,21 10.000 68.534 §
13:44:48 0,21 30.000 58.534 §
13:44:26 0,212 11.534 28.534 §
11:39:09 0,206 12.000 17.000 §
09:03:25 0,222 5.000§5.000
aber wenigstens rennt die.
§Price Size Exch Time
0.349 5000 OBB 15:58:29
0.349 5000 OBB 15:57:28
0.35 15000 OBB 15:56:57
0.35 9000 OBB 15:56:47
0.349 20000 OBB 15:56:16
0.349 10000 OBB 15:56:10
0.349 5500 OBB 15:56:06
0.345 200 OBB 15:56:06