FYI an IMXS news release from October to give u more info:
Genesis Insurance & Financial Services, Inc. To Launch Imagex Reorganization
Plan
CHATTANOOGA, Tenn., Oct. 16 /PRNewswire/ -- Genesis Insurance & Financial
Services Inc announced today that it has closed escrow on the Imagex
Services Inc transaction this morning and will be completing the
distribution of shares pursuant to the term sheet and conversion agreement
between the companies. While during the past two weeks Genesis reached 51%
control of the Imagex Division, the Company continued consuming Imagex
shares in an effort to reach a target 66% shareholder position. The Company
may consider to purchase shares or accept Imagex shares for conversion after
today's date on a case by case basis. The Company will announce officer
nominations for Imagex positions during the next ten days and will outline
the reorganization plan for the new subsidiary in the Genesis family of
companies.
Genesis' CEO, Mohamed Khairy Mohamed Zayed, II, stated this morning "We are
excited about the turnaround possibilities and opportunities which exist
with the new Imagex addition to the Genesis family of companies. It is our
desire to implement our best efforts to bring revenue and growth back to the
Imagex Division." The Company also stated that it plans to exploit the
international opportunities which exist with Imagex International which is
currently negotiating MRI unit facility contracts in Colombia, Bolivia and
are exploring opportunities in other countries including El Salvador, Costa
Rica, Guatemala and Mexico in keeping with the global view of the parent
company.
For more information about the Genesis Insurance & Financial Services, Inc.
family of companies, please contact investor relations at 735 Broad Street,
Suite 1001, Chattanooga, Tennessee 37402 or 423-266-7544 or via facsimile at
423-266-7750 or via E-mail at investor.relations.genesis@juno.com. SOURCE
Genesis Insurance & Financial Services, Inc. |
