Genesis Electronics Group Inc (GEGI)

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The Company also provided a further explanation regarding the transactions surrounding Mr. Taylors acquiring control. After nearly a year and a half of dedicated efforts, the Companys prior management had been unable to secure adequate funding, including through governmental and private-sector grants, needed to start, in earnest, the process of bringing the capital intensive Glid products to market. In light of those results, and given the extended period of limited liquidity in the micro-cap space, prior management determined it to be in the best interests of the Companys shareholders to bring a more broad-based, yet dynamic, business opportunity into the Company, along with a new highly-focused management group. Thus, the Glid-related business was divested by the Company.