LOL! So I might be a professional naysayer. Well, how much do they make? I might apply for the job on GNNX and MEGH.
It just so happens that I'm looking for a small stock to play to the upside. Since I'm not a market maker I can't short these dinky things. I have been following some people around that I have some trust in and they led me to check into these two stocks over the last week. After some DD I feel very uneasy about them both. MEGH is a bankrupt elevator company that told of shiny China contracts a year ago. Looking at their last 10Q...they didn't make a dime and the contract was never fulfilled. I wonder if they had a bond?
Looking at GNNX, the stock is flying on vapor trails. No substance yet. And the press releases are even second rate. Let's take a look at them...
++++++++++++++++
> Thursday April 16, 8:03 am Eastern Time
>
> Company Press Release
>
> SOURCE: Genesis Media Group
>
> Genesis Media Group, Inc. Closes a $60 Million Contract
>
> CULVER CITY, Calif., April 16 /PRNewswire/ -- Don R. Logan, Chairman
> of the Board of Genesis Media Group, Inc. (OTC Bulletin Board: GNNX -
> news) announced today that a one year contract was closed with The
> Meyer Group Limited, a substantial California company.
>
> This media communications contract represents revenues exceeding $60
> million. This contract has been completed with advance deposits
> received by Genesis Media Group.
+++++++++++++++
"A substantial California company"??? What's that? It's like saying that I'm extremely successful in my own right. What is the contract for? Most press releases do tend to give a few minor details. Unless they were pulled out of somebody's butt.
++++++++++++++++
> Wednesday April 22, 8:04 am Eastern Time
>
> Company Press Release
>
> SOURCE: Genesis Media Group, Inc.
>
> Genesis Media Group, Inc. Announces $120 Million Contract
>
> Genesis Media Group, Inc. Announces a Telecommunications Contract with
> Anticipated Gross Billing for the Company in Excess of $120 Million
> Annually
>
> CULVER CITY, Calif., April 22 /PRNewswire/ -- Don R. Logan, Chairman
> of the Board of Genesis Media Group (OTC Bulletin Board: GNNX - news)
> announced today that Genesis Media Group has entered into a definitive
> agreement to establish a telecommunications service network to the
> country of Mexico. The network is currently under construction and is
> anticipated to be active over the next 35 to 45 days.
>
> Genesis Media Group has acquired the capacity to provide a minimum of
> 600 million minutes of long distance service over a 12 month period.
> The various customers that have committed to the service will provide
> letters of credit equal to 2 weeks worth of billing on a revolving
> basis. Gross billings to Genesis will be approximately $11 million per
> month. Genesis will realize the first billings in approximately 2
> months.
>
> Genesis Media Group, Inc., is in the business of media advertising,
> media placement, telecommunications and networking. Genesis offers
> professional production and post-production services. Genesis is also
> involved with various advertising and media ventures. Utilising their
> extensive in house music library, the Company is able to re-score
> music soundtracks for motion pictures and television productions.
>
> Certain statements in this press release may include forward looking
> estimates such as availability of funding as well as technical and
> business progress. The Company's actual results may vary due to risk
> uncertainties such as delays in installation of equipment.
>
++++++++++++++++
This press release almost makes it sound like they are laying the lines and installing the switches! "Establish a telecommunications service network to the country of Mexico"??? What's this? Does somebody go from James Dean diaries to a 120 million dollar telecom business that is has a network under construction and do it overnight without warning? What's the Chairman of the Board's background? Was he a telecom guru from way back? I hope he is more than an illusionist.
+++++++++++++++
> Friday April 24, 10:30 am Eastern Time
>
> Company Press Release
>
> SOURCE: Genesis Media Group, Inc.
>
> Genesis Media Group, Inc. Closes a 6 Million Dollar Contract
>
> Genesis Media Group, Inc. Announces the Closing of Another Wholesale
> Telecommunications Contract
>
> Additional Annual Gross Billing To The Company Could Be As High As 24
> Million
>
> CULVER CITY, Calif., April 24 /PRNewswire/ -- Don R. Logan, Chairman
> of the Board of Genesis Media Group Inc., (OTC Bulletin Board: GNNX -
> news) announced that the company has closed a telecommunications
> contract to provide wholesale long distance service to the country of
> China. The initial capacity will be for 1 million minutes per month,
> for the next 12 months, with the possibility of increasing to 4
> million minutes per month within the first 30 days of service. The
> gross billings received from this contract, to the company, will be
> between 500,000 and 2 million dollars per month, and between 6 to 24
> million dollars annually.
>
> Genesis is a diversified company in the business of media advertising,
> media placement, distribution, telecommunications and networking. With
> the use of the company's own studio facilities, Genesis offers
> professional production and post production services, by way of the
> industry's most advanced hi-tech editing equipment, Genesis also holds
> an extensive music library that is currently in the process of being
> digitally re-mastered. The company is able to re-score music sound
> tracks for motion pictures and television productions.
>
> Certain statements in this press release may include forward looking
> estimates such as availability of funding as well as technical and
> business progress. The company's actual results may vary due to risk
> uncertainties such as delays in installation of equipment.
>
> SOURCE: Genesis Media Group, Inc.
+++++++++++++++++++++
Now that one was extremely believable..."The country of China"! Are they installing a network in China or did they just buy one? How are they doing this? AT&T would like to know. "Wholesale"??? So who is their reseller?
Since I'm not flying to Culver City and signing a letter of non disclosure, I can only look for answers on the internet. When I can only get pie in the sky press releases without verifiable details, I have to ask around. When I ask around and can only find people that talk about non verifiable press releases and PR companies I have to read between the lines.
If I like what I see I get very positive and excited with the new find. If not, then I can only question even more. If you can show my concerns to be of ignorance, then you will probably have a great stock to play. If these questions and concerns that I have, cause others to search and find the truth then we are all the better for it.
The naysayers have a place in every stock. I just find it very funny that they only verifiable information in a press release comes from the smaller ones.
+++++++++++++++++++++++
> Wednesday April 29, 12:32 pm Eastern Time
>
> Company Press Release
>
> SOURCE: Genesis Media Group Inc.
>
> Genesis Media Group, Inc. Announces a 1 Million Dollar Contract
>
> Genesis Media Group Inc., announces the signing of a national
> advertising/sales and marketing campaign contract with Glassmaster
> Industries USA Inc.
>
> CULVER CITY, Calif., April 29 /PRNewswire/ -- Don R. Logan, Chairman
> of the Board of Genesis Media Group Inc., (OTC Bulletin Board: GNNX -
> news) announced today the signing of a national advertising/sales and
> marketing contract with Glassmaster Industries USA Inc. The company is
> on the Toronto Exchange, with the trading symbol: GMTR.
>
> Glassmaster designs and distributes window film products made by
> contract manufacturers to help people succeed in their business. Its
> customers are entrepreneurs who want practical products that
> accomplish tasks with as little expenditure of time and money as
> possible. With over 100 years of combined experience of previous
> operations as manufactures, marketing managers and applicators,
> Glassmaster is uniquely positioned to be the leader in distribution of
> window film products. The key sales staff is strategically located in
> regions of the United States and supported from a central point in
> Arizona that utilizes the regional shipping approach via fulfillment
> programs in order to create an outstanding shipping service.
>
> Glassmaster has contracted for the products to supply all five of the
> markets in the window film industry: Automotive window films/bullet
> proof, Residential window films, Security window films/bullet proof,
> National accounts, Tools and products support.
>
> Genesis Media Group Inc., is a company in the business of media
> advertising, media placement, telecommunications, networking and
> professional production and post-production services.
>
> Genesis will create and produce commercials, videos and advertising
> materials for Glassmaster, as well as Web hosting and design, with an
> advertising network via the World Wide Web. Genesis will also provide
> air- time media placement for advertising and distribution. This is
> all possible through the use of Genesis's state of the art high tech
> Digital editing and production equipment.
>
> This contract between Genesis Media Group Inc., and Glassmaster
> Industries USA Inc., is a performance based contract with revenues to
> be realized by Genesis estimated to be a minimum of l million dollars
> for the first l2 months of the contract, plus earned commissions on
> gross sales.
>
> SOURCE: Genesis Media Group Inc. |
