Newagecities.com, Inc. Changes Stock Symbol to GTEC and Name to Genesis
Technology Group, Inc.
Business Editors/Technology Writers
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 15, 2001--
Newagecities.com, Inc. (OTCBB:NACT) announced today that is has begun
doing business under the new company name Genesis Technology Group,
Inc. and trading under the new stock symbol GTEC (OTCBB:GTEC). The
name change was the effect of the merger of Newagecities.com, Inc into
its wholly owned Florida subsidiary Genesis Technology group, approved
by a majority of the Company's shareholders on October 12.
Dr. James Wang, CEO and President said: "We believe this change is
a milestone in the company history. The new name and symbol better
reflect our new business model and the fact that we are moving beyond
the challenges of the company's past. Our new business model's success
will be clearly evident in the forthcoming results of our third
quarter operations and upcoming major developments."
About Genesis Technology Group, Inc.
The mission of Genesis Technology Group, Inc. is to accelerate the
success of technology companies by acquisition and development. The
Company develops, invests in, and operates high technology related
companies in the US, China, Taiwan, Hong Kong and Singapore. The
Company strategy includes the internal development and operation of
subsidiaries within the Company corporate family, as well as
investment in other technology companies directly, and through other
venture capital arrangements. The Company strategy also envisions and
promotes opportunities for synergistic business relationships among
all of the companies within its family. For more information, please
visit genesis-systems.net.
This announcement contains forward-looking statements that 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, activities of competitors and the presence of new
or additional competition, and changes in Federal or State laws 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 Securities &
Exchange Commission.
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CONTACT: Genesis Technology Group, Inc., West Palm Beach
Dr. Ken Shenkman, 561/835-6600
Fax: 561/835-6611
ken@genesis-systems.net
KEYWORD: FLORIDA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: INTERNET SOFTWARE HARDWARE
COMPUTERS/ELECTRONICS MERGERS/ACQ
SOURCE: Genesis Technology Group, Inc. |
