Genesis Partner Releases List of Residential Construction Projects Exceeding $135 Million
Genesis Technology Group, Inc. (OTCBB: GTEC)
BOCA RATON, Fla., Aug. 13, 2007 (PRIME NEWSWIRE) — Genesis Technology Group, Inc. (OTC BB:GTEC.OB – News) announced that its partner, Gold Horse International, released a list of residential construction projects in Western China, totaling more than $135 million in revenues and $25 million in estimated profits.
In late June, Gold Horse International, Inc. (OTC BB:SPEH.OB – News) joined Lotus Pharmaceuticals, Inc. (OTC BB:LTUS.OB – News) as a Genesis partner company that successfully completed its private-to-public program. Another Chinese partner company, in the environmental technologies sector and located in Jiangsu Province along the Yangtze River, has entered the final stages of the Genesis program with delivery of its official U.S. audit performed by a New York firm.
From Hohhot, Inner Mongolia, Gold Horse furnished a summary of its residential projects:
* Nan Yuan Estates, 1100 units, $20.5 million contract, $4.1 million
projected profits.
* Yuan Estates, 600 units, $8.3 million contract, $1.55 million
projected profits.
* Gold Horse Gardens, 5,000 units, $109.7 million contract, $19.4
million projected profits.
Mr. Yang Lian Kuan, Chairman and CEO of Gold Horse explained: “These three projects of residential housing will be completed from 2007 to 2010, and represent over 6,500 residential units. This pipeline does not include commercial and governmental contracts that Gold Horse has secured.”
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that earns, enhances and markets equity positions in small to mid-sized Chinese enterprises. 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.
About Gold Horse International, Inc.
Gold Horse, through its wholly owned subsidiary, Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd. (“Jin Ma Construction”), Inner Mongolia Jin Ma Hotel Co., Ltd. (“Jin Ma Hotel”) and Inner Mongolia Jin Ma Real Estate Development Co., Ltd. (“Jin Ma Real Estate”, and collectively the “Jin Ma Companies”), all based in Hohhot City, the regional capital of Inner Mongolia Autonomous Region in the People’s Republic of China. Jin Ma Construction has been providing construction and general contractor services in Hohhot City to both private developers and the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service two-star hotel located in Hohhot City. Jin Ma Real Estate develops residential and commercial properties in Hohhot City. For more information, visit http://www.GoldHorseInternational.com
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
Source: Genesis Technology Group, Inc.
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