Here is some info from their 10-12g registration statement filed with SEC on 6/30/98. Sorry if it has already been posted
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Current Assets
Cash in Banks $10,025
Accounts Receivable 13,814
Contract Receivables
- Note 1 1,800,000
Inventory - Note 1, 2 41,012,500
Prepaid Expenses 51,416
Total Current Assets $42,887,755
Property & Equipment
(net of $15,733 Depr
Note 1 & 4) 162,034
Other Assets (Note 1) 4,059,040
Total Assets $47,108,829
LIABILITIES & STOCKHOLDERS'
EQUITY
Current Liabilities
Accounts Payable $100,000
Accrued Expenses 17,588
Current Portion of
Long Term Debt 820,777
Total Current Liabilities $938,365
Long Term Debt $1,463,698
Stockholders' Equity
Common Stock $687
At $.0001 par value.
Issued and outstanding
6,869,500 shares
Paid in Capital 41,396,401
Retained Earnings
December 31, 1997 3,310,678
Total Stockholders' Equity 44,706,766
Total Liabilities &
Stockholders' Equity $47,108,829
(This is one of a couple projects they describe in the statement)
D. THE AUTO PLUS / DEALER DIRECT PROGRAM
The Auto Plus / Dealer Direct Program is a second chance credit
financing program, With Morton Downey Jr. as our national spokesperson. Genesis is organizing a national television and radio campaign that will generate 60,000 qualified auto buyer leads per month, distributed via the Web.These leads will match the desires of the buyer with the inventory of Dealers. A buyer will place an inquiry through our system. The buyer, by making this one phone call, has now made multi-dealers aware of his or her needs, thus offering the buyer a selection and price favorable to his or her needs. Multi-dealers review the buyer's specific requests, and match them with their inventory. Upon purchase, buyer will receive an unsecured Mastercard with a 500 dollar credit limit.The program provides numerous benefits to the participating dealers. The Dealers are able to receive thousands of qualified leads that match their inventory, reducing the cost of buying leads in bulk. The Dealer gets the use of the "Buy-a-Car, Get-a-Mastercard" endorsement, in conjunction with major finance companies that have the funds available
for impaired credit buyers. Dealers also receive national television
and radio advertising, up to 600 commercials per month through the use of co-op advertising proceeds. There is also ability for other national sponsors to benefit such as oil and tire companies.
1997 1996 1995 1994
Summary of Operations
Net Revenues $5,288,317 $2,575.73
Cost of Sales 2,215,664
Gross Profit 4,072,653
Operating Expenses 581,465 90,090.31
Net Profit $3,475,455 ($87,514.58)
Summary Balance Sheet Data
Total Assets $47,108,829 $335,647.04 $0 $0
Total Liabilities 2,402,063 0 $4,996 $4,996
Shareholders' Equity $44,706,766 $335,647.04 ($4,996) ($4,996)
Note: The financial information for years prior to 1997 are for
Hollywood Showcase Television Network, Inc.
ITEM 3. PROPERTIES.
The Company currently leases property at 5721 Buckingham Parkway Stage
6-2nd Floor, Culver City, CA 90230.
ITEM 4. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT.
(a) Security Ownership of Certain Beneficial Owners
Title Shares Percent
of Name/Address Beneficially of
Class of Owner Owned Class
Common Badco
1013 Centre Road
Wilmington, DE 19805 2,500,000 11.61%
Common CEDE
P.O. Box 20
Bowling Green Station
New York, NY 10004 1,812,280 8.42%
Common All Officers and 9,200,000 42.73%
and Directors over
5% (2 Individuals)
(b) Security Ownership of Management
Title Shares Percent
of Name/Address Beneficially of
Class of Owner Owned Class
Common Don & Barrie Logan
23355 Gondor Dr.
Lake Forest, CA 90710 9,200,000 42.73%
Common Milton Miller
5 Moraine Rd.
Edison, NJ 08820 500,000 2.32%
Common Glen Morinaka
16136 Sunnyview Terrace
Hacienda Heights, CA 91755 210,000 0.98%
Common Carl J. Conte
13508 Moorpark St. #3
Sherman Oaks, CA 91423 100,000 0.46%
Common David Lambersten
1551 Fairway Dr. #3102
Naperville, IL 60563 86,750 0.40%
Common John Logan
23355 Gondor Dr.
Lake Forest, CA 92630 50,000 0.23%
ITEM 5. DIRECTORS AND EXECUTIVE OFFICERS
Don R. Logan
Mr. Logan is currently the Chairman of the Board, President, and COO of
Genesis Media Group, Inc. Mr. Logan has been the President, CEO and has
served as director for many large corporations as well as President and
COO of Genesis Group, Inc. from 1981 - 1998. President of USA
Investment Casting, President of Quadrillion Entertainment, President
of Jade Point Productions and Packy Syndications, former US Coast Guard
Officer, past officer and member of Gray Iron and Ductile Founders
Society, past officer and member of Gray Iron Institute, Rotary
International member and graduate of USC. Mr. Logan's experience and
expertise in the Entertainment field should prove to be a key asset in
the success of Genesis Media Group, Inc. |
