BOCA RATON, Fla., Sept. 29, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc (OTCBB:GTEC). announced that Lotus Pharmaceuticals, Inc. (OTCBB:SEAA) has attained public company status on the OTC Bulletin Board, having successfully completed an acquisition by S.E. Asia Trading Company, Inc. Lotus contracted with Genesis through its Genesis Equity Partners (GEP) partnering program to achieve this goal in six months' time. With the success of its Chinese partner companies, Genesis management anticipates "the impact on the bottom line of Genesis should be significant".
Dr. Liu Zhongyi, Lotus Chairman and Chief Executive Officer, remarked from Beijing: "We are proud that Lotus has achieved public company status. We signed the partnering contract with GEP on March 26, 2006, and, almost to the day, Lotus is publicly trading six months later. Lotus should impress investors globally, as we have a history of profitability and growth in a respected market sector."
Commented Adam Wasserman, Lotus' Chief Financial Officer: "For the year ended December 31, 2005, Lotus reported net revenues of approximately $17.7 million and net income of $1.8 million. Based on unaudited results for the six months ended June 30, 2006, net revenues reached approximately $15.4 million and net income of $2.8 million. We are impressed by the Company's performance and growth, and look forward to its expanding domestically (in China) and perhaps even internationally."
Mr. Gary L. Wolfson, CEO of Genesis Technology Group, added: "The GEP partnering program benefits the Chinese company, the existing U.S. public shell, and-most importantly to our side-the shareholders of Genesis. The impact on the bottom line of Genesis should be significant, and we believe that our shareholders will be pleased with the performance of the Company, as reflected in our year-end financial reporting. Our current fiscal year concludes on September 30, 2006.
"Importantly, the GEP program should have sustainability in that we have additional Chinese partners now in the due diligence process that could follow the successful standards set by Lotus. Both our U.S. and Beijing staffs work diligently and arduously to achieve this goal."
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 majority owned subsidiary of Genesis, Genesis Equity Partners, LLC ("GEP") 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. Genesis announced in August 2006 that it became a member of the United States Chamber of Commerce to enhance its initiatives both in China and the U.S. For more information, visit http://www.Genesis-China.net.
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals International, Inc. is a wholly-owned subsidiary of S.E. Asia Trading Company. Lotus has agreements with Liang Fang Pharmaceutical, Ltd. ("Liang") and En Zhe Jia Shi Pharmaceutical, Ltd. ("En Zhe"), two Chinese pharmaceutical companies located in Beijing, to manage all of their businesses and to control Liang and En Zhe. Liang and En Zhe form a large comprehensive enterprise, which deals in an integration of the production, trade, sales and marketing of pharmaceuticals. Together, they possess one of the most advanced pharmaceutical-production equipment used in China, workshops authenticated by the National GMP, a suite of various medicines produced solely by Liang and/or En Zhe (together, "Lotus East"), and a large number of high-tech personnel. Lotus East has business and office facilities of 2,000 square meters and a storehouse of 1,000 square meters. Lotus East has four divisions handling scientific research on new medicine, the production, wholesale and retail sale of medicine. For more information, visit http://www.LotusEast.com.
Safe Harbor Statement
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