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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX)
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To: SuperCharged who wrote (1539)6/22/1998 9:46:00 AM
From: SuperCharged   of 3129
 
Just wanted to post some additional information that I got a hold of that should answer several questions about GNNX's past and present.

1) Why was the revenue not higher in 1997?

Answer: In 1997 HSTV was not involved with Genesis Media Group until late August, At that time HSTV was pretty much only a shell. Any projects that were ongoing if any prior to Genesis MEdia being reversed merged into that shell had nothing and still has nothing to do with the present GNNX.

2) Why the jump in shares outstanding?

Answer: when the reverse merger occured it was agreed by both parties that Don Logan and Genesis MEdia would receive stock in exchange for their assets, the payment end of the agreement wouldn't be effective until first quarter of 1998, which explains the jump in shares outstanding, basically all the stock outstanding prior were issued by HSTV to their officers, investors and so on.

3) Why is the return on the assets so small?

Answer: The company has always had a 10 to 30 % return on their music library, it just hasn't been reflected in the financial statements as of yet. ( genesis was reversed in late 1997 and that does explain that).

4) What happened to HSTV?

Answer: HSTV was a shell that GNNX reversed into late 1997, in November of 1997 Don Logan, seeing the negative direction the company was taking assumed day to day activities of the company. Whatever HSTV was and whoever ran the company before November is no loner there and has no association whatsoever with GNNX. So in otherwords GNNX is a NEW company and enjoy the ride people.

P.S. all of this information has been disclosed on more than one occassion, so do your DD and get the answers that are real as you can see I'm am trying to give you enough ammo to judge for yourself.
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