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Genesis Media Group (GNNX) Summary (This is a summary of the Due Diligence done by members of the GNNX SI bulletin board. This is only a starting point for your OWN due diligence. This is not a recommendation to buy or sell the stock of GNNX.) Thanks to those who have contributed their time and energy in reporting their DD. **************************************************************** CONTACT: Address: 5721 Buckingham Parkway Stage 6 ~ 2nd Floor, Culver City, CA 90230 CEO: Don Logan Phone: (310) 665-0221 Fax: (310) 665-0148 Investment Banker: Dutch Associates, Inc Contact Person: Tony Nichols (213) 951-8350 or Lou Vector (718) 850-4000 dutchassociates.com << Dutch Assosciates, Inc. have been called in as consultants to guide GNNX through their current contracting, to advise them which are the best attorneys and accountants to use to get them to be a fully reporting company>> Corporate News and Updates: genesis-ent.com Corporate Technical Information: gnnx.com Dutch Assosciates Genesis info: dutchassociates.com **************************************************************** SHARES: Authorized Shares: 50,000,000 Outstanding Shares: 21,243,000 ->recently increased from 19,346,000 Restricted Shares: 16,541,000 Shares in the Float: 3,300,000 to 4,700,000 (varying DD on the thread) << Submitted a 504 for additional 1M shares, but MAY not have to do this due to contracts coming in>> Transfer Agent: Florida Atlantic Stock Transfer Inc 954-726-4954 Market Makers: 13 currently **************************************************************** BUSINESS: 2 Divisions: Technology & Media 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. **************************************************************** RECENT PRESS RELEASES 4/24/1998 Wholesale Long Distance Contract to China for 1 year worth $6M (potential up to $24M) biz.yahoo.com 4/22/1998 Mexican Telecom Contract of $120+M Annually biz.yahoo.com 4/16/1998 $60M Media Communications Contract with The Meyer Group Limited biz.yahoo.com 3/18/1998 Joint Venture with GMT Productions to Complete Production of James Dean Diaries biz.yahoo.com 2/24/1998 1997 Revenues and Earnings Report biz.yahoo.com 2/23/1998 1) Dealer Distrubution Agreement with Thomas Broadcast Systems 2) Announcement of Digital Editing and Digital Multi-Camera Studio biz.yahoo.com Also, 11/3/1997 $30M Media-Advertising Contract with Dealer Direct/Auto Plus. Net Revenue to Genesis is estimated at $6M annually. Dealer Direct/Auto Plus has granted Genesis the sole, exclusive agency and media rights for a 3-year period, for this television and advertising campaign **************************************************************** BACKGROUND *Incorporated in 1981. *They did a reverse merger into HSTV in Aug 1997 *1997 Earnings were .316 per share on 10.99M shares *The $60M Meyer Group contract is to provide India with long-distance telephone services using the switches from GNNX's technology division. GNNX net profits for this contract are 3-5% representing between $1.8 and $3 million. *They have a music and film library: They have the rights to a new 3CD set of Frank Sinatra's hits. *From investor package of last year the Music library has book value of $45 Mil *10 employees in their Culver City office *Website was thrown together quickly, due to recent symbol change, CUSIP etc. *James Dean film as of March 18, is 60% complete. *The Elite Sports Alliance - Sports Management Division << don't have details yet>> * CEO has stated that the Genesis studio in Culver City (for those who might not know - this is an industrial area of Los Angeles - industrial meaning film and studio related type businesses) will be, "the most digitally equipped production studio and will be second in the nation only to Sony." *CEO has stated Working on and about completed a 30 min weekly comedy show. Receive 4-5 requests/day for work, they are picking and choosing which ones to do. *In August, 1997 Hollywood Showcase T.V. Network, Inc. purchased in a tax free exchange a company named Genesis Group, Inc. One of the assets received is a contract for the sales of certain films. The terms of the contract call for monthly payments which commenced March 1, 1998 in the amount of $100,000 per month for six months and $200,000 per month for the next 24 months. The total of the contract being $5,400,000. Income tax on this transaction will be reported on the installment basis. Beginning October 1, 1999, a licensing fee of $100,000 will be paid monthly to the Company until September 1, 2002 * Recent debut of their state-of-the-art 16 x 9 and 4 x 3 switchable component Digital Editing and Digital Multi-Camera Studio at their Culver City Facility. Genesis is featuring Thomson 12 Bit Digital Cameras, 4:2:2 Digital Component Switcher, Digital Component Betacam Recorders, and D.2 Composite Digital Recorders. Our insert stage is air-conditioned (30' x 25') and the on-premise main stage (80' x 120') with 2 wall cyc, complete with Digital Multi-Camera Equipment. Genesis' capabilities include complete Digital production and post-production, as well as analog services. **************************************************************** RELATED NEWS * The Meyer Group Limited (see PR of April 16) is a privately held company in the rapidly growing telecommunications industry. Their principal businesses include the Access Medical Systems Div. that provides electronic claims processing and other telecommunications services to the medical industry and the American Telecommunications Div. that holds an FCC section 214 license and provides both wholesale and retail long distance services. * Thomson Broadcast Systems is a worldwide organization with subsidiaries in Asia, Europe and the US, as well as distributors and agents around the world. The company headquarters are located near Paris, with two production sites in Brittany (France). Thomson addresses the digital image chain from end to end: image capture processing, compression, transmission and broadcasting. New applications such as digital television, MPEG2 Compression and multi-service fiber networks. Worldwide resources of Thomson multi-media makes it the fourth largest consumer electronics group in the world. | ||||||||||||||
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