LOS ANGELES, May 5, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) is among the featured companies on this week's MoneyTV show.
MoneyTV is the nationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews by hosts Donald Baillargeon and Skip Lindeman with company CEOs, providing insights into their operations and outlooks for their futures.
Genesis CEO Gary L. Wolfson, interviewed at the studios of the American Stock Exchange in New York, reviewed the Company's recent quarterly report. "How did this transformation occur? Frankly, 18 months of hard work and keen focus. We characterize our Company as having customized a 'Berkshire Hathaway model' for Chinese companies. Genesis owns a major stake in qualified, profitable, well-managed Chinese enterprises, which become U.S. publicly trading corporations. These companies have an excellent history, good leadership, prosper in growing industry sectors, but lack the Western structure, know-how and funding required to become global brands. Genesis provides these key elements.
"We forecast that each 'Genesis Partner Company' -- such as Gold Horse and Lotus Pharmaceuticals, both well underway -- can produce $2-4 million in net income for Genesis. With our expert teams in the U.S. and China, we hope to complete as many as six of these M&A projects each year."
Genesis CFO Adam Wasserman commented on the 10Q filing: "This is an impressive, historic turnaround by any standards, and we believe that this news will be positively received by our shareholders and the Wall Street investment community alike. It marks the first profitable quarter in the history of Genesis and with cash in the bank, the Company can continue to implement its business model that indicates sustainability and growth for its future."
Viewers of MoneyTV can receive free information in the mail about featured companies by calling the toll-free phone number on their TV screen. The weekly television program debuted in 1996 and is broadcast nationally to 60 million U.S. homes on Saturdays at 11:00 AM ET, Sundays at 8:30 AM PT, & 9:30 AM ET and Mondays at 6:30 PM ET. Free information packages from the featured companies can be requested by sending an email to info@moneytv.net. The television program can also be viewed online immediately at www.moneytv.net.
MoneyTV is broadcast to 45 million TV homes in Western Europe, Wednesdays at 7:30 PM. MoneyTV is also broadcast on NBC-TV in the Virgin Islands and Puerto Rico Sundays at 8:00 AM. A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net
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 majority-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 U.S. Securities and Exchange Commission. For more information, visit www.genesis-china.net
About MoneyTV
MoneyTV television program, Copyright MMVI, all rights reserved. MoneyTV does not provide an analysis of companies' financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3- to 4-month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by the producers, publisher or parent company of MoneyTV.
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.