BOCA RATON, Fla., July 26, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced its equity ownership in Gold Horse International, Inc., which completed a merger in late June with Speedhaul Holdings, Inc., and attained public company status on the OTC Bulletin Board. As a result, management anticipates that Genesis will show a profit for its fiscal year ended September 30, 2007.
Currently, Genesis owns 8.5 million shares in Gold Horse International (OTCBB:SPEH) and 6.7 million shares in Lotus Pharmaceuticals, Inc (OTCBB:LTUS). With an additional four Chinese companies under contract and at various stages of its program, Genesis could earn a significant equity stake in each partner company upon attaining public company status.
Gold Horse was the second partner company in the trailing nine months to complete the private-to-public program. "Gold Horse's success should place Genesis in a profitable position for the fiscal year," predicted management. Genesis maintains an active role in Gold Horse's management and business activities, including the assignment of Western directors to assist the company in executing its expanded business model.
Mr. Yang Lian Kuan, Gold Horse Chairman and Chief Executive Office, remarked from Hohhot, Inner Mongolia: "We are proud that Gold Horse has achieved public company status. The professionalism and dedication of the Genesis team proved unwavering, and we are confident that our collective efforts will prove greatly profitable. Gold Horse is a dynamic company in one of the fastest growing regions in all of China. In the coming years, we believe that the investing public will give enthusiastic support to Gold Horse."
For over 18 months, Genesis had worked with Gold Horse to attain OTC Bulletin Board status. Kabani & Company of Los Angeles completed the U.S. audit. Both Genesis and Gold Horse have been encouraged by the performance of another publicly listed company, China Housing and Land Development, Inc. (OTCBB:CHLN), which has a current market cap exceeding $100 million.
About Gold Horse International, Inc.
Gold Horse International, Inc., together with its subsidiaries, is an engineering and construction company that offers general contracting, construction management and design-building services to private clients and public agencies. Regarded as one of China's safest contractors in Western China, the Company's primary objective is to develop, execute, and maintain projects on schedule, within budget, and with excellence. In the tradition of China's master builders, the Company designs, executes and maintains the infrastructures that support the progress and expansion of China. Over the past two decades, Gold Horse has become a trusted leader in China in providing exceptional services and technical knowledge. Through Gold Horse's individual and collective expertise, more than 900 international employees provide cost-effective, intelligent solutions in a timely manner. The Company's outstanding dependability, expertise and safety standards distinguish Gold Horse as an emerging leader in China, in the building services marketplace. For more information, visit www.GoldHorseInternational.com.
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 director's 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 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.