Genius Group Is Issued Warning Letter by NYSE

Rhea-AI Summary

Genius Group received a Warning Letter from NYSE for failing to disclose material information and providing inconsistent information to the investing public.

Positive

• The Warning Letter could prompt Genius Group to improve its disclosure practices, increasing transparency and investor confidence.

Negative

• The Warning Letter could negatively impact Genius Group's stock price due to concerns about the company's compliance and communication with investors.

SINGAPORE, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a world-leading entrepreneur Edtech and education group, today announced it received a Warning Letter from NYSE regarding the manner of disclosures from March 2023 events via Twitter and that the Company violated Section 401 of the Company Guide by failing to disclose material information in compliance with the Company Guide requirements and by providing inconsistent information to the investing public. In accordance with Section 1009(a)(i) of the Company Guide, the Company was issued the Warning Letter.

About Genius Group

Genius Group is a world leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 4.5 million users in 200 countries, ranging from early age to 100.

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

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described in our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2021, filed with the SEC on May 13, 2022. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Forward-Looking Statements" below. Additionally, there is no guarantee that a shareholder will qualify for use of the Upstream app or that their shares will qualify for trading on Upstream. Shareholders should follow the advice of their advisors, and nothing contained in this press release constitutes investment or legal advice as to the availability of Upstream to any shareholder or for any other reason.

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

Investors:
Flora Hewitt, Vice President of Investor Relations and Mergers and Acquisitions
Email: investor@geniusgroup.net

Media Contacts:
Adia PR
Email: gns@adiapr.co.uk

US Investors:
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
GNS@redchip.com

FAQ

What is the news about Genius Group?

The news is about Genius Group receiving a Warning Letter from NYSE for failing to disclose material information and providing inconsistent information to the investing public.

What could be the impact of the Warning Letter on Genius Group's stock price?

The Warning Letter could negatively impact Genius Group's stock price due to concerns about the company's compliance and communication with investors.

How could Genius Group respond to the Warning Letter?

Genius Group could improve its disclosure practices and provide consistent and transparent information to address the concerns raised in the Warning Letter.