Genesis Technology Group, Inc. (OTCBB: GTEC)
BOCA RATON, Fla., July 13, 2007 (PRIME NEWSWIRE) — Genesis Technology Group, Inc. (OTC BB:GTEC.OB – News) announced that its Beijing pharmaceutical partner, Lotus Pharmaceuticals, Inc., has advanced in the development of a treatment for Hepatitis B and also increased its number of local outlets to 15 retail stores.
Lotus (OTC BB:LTUS.OB – News) was recently joined by Gold Horse International, Inc. (OTC BB:SPEH.OB – News) as graduates from the Genesis capital growth partnering program. Genesis maintains a significant equity position in each company, and provides management and marketing guidance on a continual basis. Four other Chinese companies, at various stages of the program, are under contract.
Dr. Liu Zhongyi, Lotus CEO and founder, announced: “In April 2007, our Company invested about $750,000 to develop injectable Ganbifu, which is primarily used for the treatment of chronic viral type B Hepatitis or HBV.
“This medication is very effective in treating HBV. We are now starting the required animal experimentation. It is expected to reach the market in 2009, and its annual sales revenues are forecast up to $20 million annually, with profits approaching $6 million.”
Lotus also announced that it has established five new local retail drug stores. The Company estimates that annual sales revenues, from these outlets, should be as much as $2 million, with net profits forecast up to $500,000. This will bring the total number Lotus retail drug stores to 15 in Greater Beijing.
Dr. Liu added: “Starting this month, Lotus will spend about $100,000 each month in the nationally-distributed Health Daily to build the company’s image and extensively advertise our products. Lotus is committed to expanding its market share in an effort to become a national brand.”
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that partners with qualified Chinese companies to expand their domestic and international market opportunities. The customized private-to-public program seeks to tap in to Western capital markets to attain this goal. Commitment, dedication, and expertise are the key components to the Genesis “Mission Statement.” It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined “partner companies.” Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners’ leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement and Disclaimer
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. The capital and growth program, the Company’s central profit center, has specific risks and liabilities. Followers of our business model must understand that, until the Chinese partner company officially reaches public company status and files its initial Form 8-K, a high degree of risk exists that the partner may not ever attain that status. While receipt of a significant equity position in these companies is contractual, Genesis still recognizes that such compensation is conditional on performance and specific deliverables.
Contact:
Genesis Technology Group, Inc.
Kenneth L. Clinton, President
(561) 988-9880
Fax: (561) 988-9890
info@Genesis-China.net
7900 Glades Road, Suite 420
Boca Raton, Florida 33434
Source: Genesis Technology Group, Inc.; Lotus Pharmaceuticals, Inc.
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