Founder & CEO, Roger James Hamilton, purchases ordinary shares in Genius Group

Rhea-AI Summary

Genius Group (NYSE American: GNS) announced that its CEO, Roger Hamilton, has purchased 500,000 ordinary shares from the company. The purchase, approved by the Board on August 9, 2024, was priced at 105% of the closing price on the day prior to purchase. Based on the September 24, 2024 closing price of $0.866, Mr. Hamilton acquired the shares at $0.91 per share.

This purchase is part of a series of investments Mr. Hamilton has made in the company over the past year, including:

• Over $2.1 million in interest-free loans in Q4 2023
• $1.0 million equity purchase in January 2024
• $330,000 interest-free loan in July 2024

The transaction was exempt from registration under Section 4(a)(2) of the Securities Act of 1933.

Positive

• CEO's purchase of 500,000 ordinary shares demonstrates confidence in the company
• CEO has provided over $3.43 million in funding and investments over the past year
• Share purchase price set at a premium (105%) to market price

Negative

• Company relying on CEO for significant funding, potentially indicating cash flow issues
• Use of debt conversion for share purchase may impact company's financial position

Insights

Financial Analyst

The CEO's purchase of 500,000 ordinary shares at a premium to market price is a strong vote of confidence in Genius Group's future. This transaction, valued at approximately $455,000, follows a pattern of significant personal investments by Roger Hamilton, totaling over $3.4 million in the past year through various mechanisms.

The consistent financial support from the CEO, especially at a premium, sends a positive signal to investors about the company's potential. However, it's important to note that Genius Group's market cap of $17.6 million is relatively small, making it susceptible to volatility. The exemption from registration under Section 4(a)(2) of the Securities Act is standard for such insider transactions but limits the immediate tradability of these shares.

While insider buying is generally seen as a bullish indicator, investors should consider the broader financial health and performance of Genius Group beyond these transactions. The company's focus on AI-powered education could be promising, but its small size and recent share price performance (implied by the low share price) suggest caution is warranted.

SINGAPORE, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI powered education and acceleration group, today confirmed the purchase by Roger Hamilton, its CEO, of 500,000 ordinary shares from the Company.

The purchase of the ordinary shares was approved by the Board on August 9, 2024 at a per share price equal to 105% of the closing price on the prior trading day to the date of purchase, in a combination of cash and conversion of debt due from the Company.

Based upon the closing price on the prior trading day prior to the date Roger Hamilton provided notice of intent to purchase, which was September 24, 2024 (which was $0.866), Mr. Hamilton is acquiring the shares today at a purchase price of $0.91 per share.

The most recent application to the company follows a series of funding rounds Mr. Hamilton has personally made in the company over the last twelve months, including over $2.1 million in funding via an interest free loan in the fourth quarter of 2023, participation in the Company’s funding round in January 2024 with a $1.0 million equity purchase, and a further $330,000 interest free loan in July 2024.

The share purchase was made pursuant to a transaction exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

About Genius Group

Genius Group (NYSE: GNS) is a leading provider of AI powered, digital-first education and acceleration solutions for the future of work. Genius Group serves 5.4 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit www.geniusgroup.net.

For more information, please visit https://www.geniusgroup.net/

Forward-Looking Statements 

Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will”, “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. 

Contacts

MZ Group - MZ North America
(949) 259-4987
GNS@mzgroup.us
www.mzgroup.us

FAQ

How many shares did Genius Group's CEO Roger Hamilton purchase on October 8, 2024?

Roger Hamilton purchased 500,000 ordinary shares of Genius Group (GNS) on October 8, 2024.

What was the purchase price for the shares acquired by Genius Group's CEO?

The purchase price was $0.91 per share, which was 105% of the closing price on September 24, 2024 ($0.866).

How much has Roger Hamilton invested in Genius Group over the past year?

Over the past year, Roger Hamilton has invested over $3.43 million in Genius Group through loans and equity purchases.

When did the Genius Group Board approve the share purchase by Roger Hamilton?

The Genius Group Board approved the share purchase on August 9, 2024.