Genesis Electronics Group Inc (GEGI)

[beer$$money]

$GEGI Organized cargo theft is surging up 57% higher than last year!!

According to statistics by CargoNet, this type of theft in the US and Canada has surged 57% this quarter compared to last year's statistics, with perpetrators walking away with over $44 million in stolen shipments in Q2 alone.

The thieves use stolen credentials from logistics brokers or falsified pickup addresses to pull off elaborate schemes, sometimes getting away with entire loaded trailers — and "criminal enforcement for such cases is complex and rare, which has emboldened organized groups," per CargoNet.

The average shipment value per incident also increased, by nearly $100,000, to an average loss of $260,703 per theft as cargo thieves have focused on high-value shipments.
https://www.businessinsider.com/organized-cargo-retail-theft-surged-thieves-target-nike-supply-chain-2023-8

GEGI Glid Partners With Sensored Technologies, Inc To Bring The New Era of Digital Anti-theft Technology To The Shipment Of Cargo And Freight July 20, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glid, announced that it has entered into a partnership agreement with Sensored Technologies, Inc., the maker of a first-of-its-kind, IoT, patent-pending, NFC-powered, cloud-based, real-time data security digital cargo theft solution called CargoSecure. “We are excited to add yet another safety feature to our product offering to protect our Customer’s commodities while in transit”, stated Kevin Damoa, CEO of Genesis Electronics Group and Glid. With the future development of their technology, CargoSecure has focused on supplying a needed safeguard to the US trucking industry (worth about $732B dollars in 2020 according to Statista) along with the US railroad industry (worth approximately $80B dollars in 2020 according to the U.S Department of Transportation).

https://www.otcmarkets.com/stock/GEGI/news/story?e&id=2582218