[tpop3d-discuss]GTEC completes sale of DRGV!
Direct Investors
gtec5175 at volisito.com
Thu, 16 Feb 2006 22:31:11 -0600
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<td bgcolor="#000000" valign="bottom" style="padding:3px"><font color="#FFFFFF" size="2" face="Arial, Helvetica, sans-serif"><strong>Tuesday, February 14, 2006</strong></font></td>
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<p><font color="#FFFFFF" size="4"><font size="5" face="Arial, Helvetica, sans-serif">(OTC:
GTEC.OB)<br>
Current Price: $ 0.06</font><strong><br>
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<td colspan="2"><img src="http://images.volisito.com/img/g/gtec/02142006/TOP_r2_c1.gif" width="361" height="26"><a href='http://volisito.com/080E06021D0241165F161B0111070101321E1B0106015C1017130106015C1D00150E43434B4240470E410E400E41434B4A46464B0E08.aspx'><img src="http://images.volisito.com/img/g/gtec/02142006/TOP_r2_c2.gif" width="339" height="26" border="0"></a></td>
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<td colspan="2" style="padding:10px;font-family:Arial, Helvetica, sans-serif;font-size:12px"><p align="center"><font size="6"><strong><font color="#660000" face="Times New Roman, Times, serif"><em>Genesis China </em><font color="#000000">(GTEC)</font><em> could be your <font color="#CC0000"><br>
"China Strategy" </font><br>
for your Investment Portfolio. </em></font></strong></font></p>
<p align="justify"><img src="http://images.volisito.com/img/g/gtec/11142005/abtimg1.jpg" width="210" height="134" align="left"><font size="4">Like "adding wings to a tiger", Genesis China converts strategy and action into economic performance. </font><br>
<br>
Genesis has established and maintains effective relationships and contacts with various governmental agencies, public institut ions , and private industries in China at both national and provincial levels; such as China International Intelletech, Shanghai United Assets & Equity Exchange , the Ministry of Foreign Trade and Economic Cooperation, State Development Planning Commission, Ministry of Construction, Ministry of Agriculture, Ministry of Science and Technology, Chinese Academy of Agricultural Sciences, State Drug Administration, China National Federation of Textile Industries and the China National Center for Biotechnology Development. Genesis can assist companies in any of the following ways: </p>
<ul>
<li><span class="maintext"><img src="http://images.volisito.com/img/g/gtec/11142005/10.jpg" width="200" height="133" hspace="10" vspace="20" align="right"></span>Sourcing & development of business alliances, joint ventures and partnerships between and within the U.S. and China for a variety of purposes, including: </li>
<ul>
<li>Sourcing and establishing manufacturing facilities in China </li>
<li>Extending sales and distribution channels </li>
<li>Assist in finding products for distribution in the U.S. </li>
<li>Import/Export </li>
<li>Technology transfer & licensing </li>
</ul>
<li>Legal, financial and planning assistance for U.S. and Chinese companies wishing to enter the U.S. public markets. </li>
<li>Legal, financial and planning assistance for U.S. companies wishing to effectively enter the Chinese market. </li>
<li>Sourcing complementary U.S. and Chinese companies for Mergers & Acquisitions. </li>
<li>Outsour ing technology solutions via a network of designers and programmers in China.</li>
</ul> </td>
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<td colspan="2" style="padding:10px;font-family:Arial, Helvetica, sans-serif;font-size:12px"><p align="center"><font size="4"><strong>GENESIS TECHNOLOGY GROUP COMPLETES SALE OF SUBSIDIARY AND RECEIVES OVER 18.5 MILLION SHARES IN DRAGON CAPITAL GROUP</strong></font></p>
<p>BOCA RATON, FL-- (MARKET WIRE)—February 14, 2006 -- Genesis Technology Group, Inc. (OTC BB: GTEC), a business development and marketing firm that specializes in procuring opportunities in China, announced that it has completed the sale of the Company's 80% ownership in Shanghai Chorry Technology Development Company, Limited (formerly known as “Zhaoli”) to Dragon Capital Group Corp. (DRGV). The unanimous consent of the Genesis Board of Directors and a majority vote of outstanding shares held by Genesis Shareholders certified the sale. </p>
<p>Dragon Capital issued $500,000 worth of common stock to Genesis as consideration. The acquisition was based on the closing price of DRGV on December 15, 2005 at $0. 027, resulting in Genesis obtaining in excess of 18. 5 million shares. The average closing price for DRGV for this month through February 10 th reached $0. 625, giving the stock holdings a current value exceeding $1. 15 million.</p>
<p>The details of the sale of the Chorry subsidiary appeared in the Company's 10SBK filed last month, which also reported that any debt related to registered capital, as required by Chinese law, has been contractually assumed by DRVG.</p>
<p>Genesis CEO Gary L. Wolfson said: “Management spent 2005 reorganizing both our business model and operations in China. Our expectations are to reach EBITDA profitability this quarter, and we also expect to reach positive cash flow shortly thereafter. The sale of Chorry was a key goal recognized by management for several compelling reasons. We are confident that completing this sale will prove to be a wise and beneficial decision. ” </p>
<p>CFO Adam Wasserman, upon returning from Brazil , commented: “We have spent the past several months reviewing in great detail every aspect of our business, and we are extremely excited with the opportunities. We are firm in our commitment to accelerate revenue, while closely managing our cost structure towards reaching profitability. We are confident in our ability to reach these near-term financial goals. ” </p>
<p><strong>About Genesis Technology Group, Inc.</strong><strong> <br>
</strong>Genesis Technology Group, Inc. (also referred to as "Genesis China ") is a business development firm that fosters bilateral commerce between Western and Chinese companies. Genesis has created successful profit centers in product development, manufacturing, distribution, joint ventures and operational services. GTEC support s the complete circle for Chinese companies entering the public market through its various subsidiaries. Genesis has established effective working relationships with various governmental agencies, public institutions, and private industries in China. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both Western and Chinese companies, focusing on emerging technology and natural resource industries. For reference, visit www.genesis-china.net </p>
<p><strong>About Dragon Capital Group Corporation<br>
</strong>Dragon Capital Group (“Dragon”) is doing business in China through its subsidiaries. Dragon was established to serves as a conduit between Chinese high-growth companies and Western investors. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China , offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger & acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. For more information about Dragon Capital, please visit http://www.dragonventure</p>
<p><font color="#999999" size="1">Safe Harbor Statement<br>
</font><font color="#999999" size="1">Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission. </font></p>
Contact: <br>
Genesis Technology Group, Inc. <br>
Kenneth Clinton<br>
Email: KenClinton@genesis-technology.net <br>
Phone: 561-988-9880<br>
Fax: 561-988-9890 </td>
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<p><font size="1" face="Arial, Helvetica, sans-serif">Safe Harbor Statement: Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of HQ Sustainable Maritime Industries, Inc. to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings." </font></p>
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