Genius Group Limited - GNS STOCK NEWS

Genius Group (GNS) has increased its Bitcoin Treasury by purchasing an additional $4 million worth of Bitcoin, bringing its total holdings to 153 Bitcoin valued at $14 million, with an average price of $91,372 per Bitcoin. This follows the company's recent announcement of its 'Bitcoin-first' strategy, committing to hold 90% or more of its reserves in Bitcoin, with an initial target of $120 million. The company also unveiled a 10-step Bitcoin plan focusing on building a blockchain-first board, establishing strategic targets, and choosing appropriate jurisdictions and custodians. Genius Group aims to provide AI-powered, blockchain-based education preparing students for future digital economies.

Genius Group (NYSE American: GNS) released preliminary unaudited financial results for H1 2024, showing 130% pro forma revenue growth. The company reported H1 revenue of $13.2M compared to $11.8M in 2023, and pro forma revenue of $20.7M versus $9.0M in 2023. The adjusted EBITDA net loss improved to ($5.9M) from ($7.3M), while pro forma adjusted EBITDA loss decreased by 37% to ($4.6M). The results exclude FatBrain AI revenue prior to March transaction and 2023 figures include Entrepreneur Resorts , which was spun off. The company plans to provide detailed H1 results and guidance including their Bitcoin Treasury Plan after audit completion.

Genius Group (NYSE American: GNS) has announced the purchase of 110 Bitcoin for $10 million, at an average price of $90,932 per Bitcoin. This acquisition is part of the company's recently announced 'Bitcoin-first' strategy, which commits to holding 90% or more of current and future reserves in Bitcoin, targeting $120 million in total Bitcoin holdings. The company plans to host a Podcast as part of its Bitcoin & Blockchain Education Series, featuring CEO Roger Hamilton and Board Members Thomas Power & Ian Putter, to provide guidance to other companies considering Bitcoin as a Treasury Reserve.

Genius Group (NYSE American: GNS) has announced a new 'Bitcoin-first' strategy, committing to hold 90% or more of its reserves in Bitcoin. The company plans to utilize its $150 million ATM facility to acquire an initial $120 million in Bitcoin as its primary treasury reserve asset. The strategy includes launching a Web3 Wealth Renaissance education series and enabling Bitcoin payments on their Edtech platform. The company reports $23 million in audited annual revenue for 2023 and total assets of $43 million, while currently facing a market capitalization of $12 million. Genius Group has pending litigation against alleged market manipulators, with estimated damages over $250 million.

Genius Group (NYSE: GNS) has launched GeniusGroup.AI, a new AI-powered platform designed to expand its Genius Cities Network and global AI Education model. The platform features AI Avatars including 'Student AI' for university students and 'Genius Team' for entrepreneurs, along with access to Alan Turing AI, the company's Chief AI Officer. The platform provides daily AI news coverage across six continents and a global calendar of AI-related events.

The company has recently expanded its Genius Cities presence to new locations including Melbourne, London, Frankfurt, Stockholm, Santiago, Toronto, and Vancouver, joining existing hubs in Dubai, Abu Dhabi, Singapore, and Miami. Genius Group aims to establish 100 Genius Cities worldwide, connecting educators, entrepreneurs, businesses, and governments through their global learning platform.

Genius Group (NYSE American: GNS) has announced significant changes to its Board and Management team. The company has appointed four new Board members: Eduardo Huerta-Mercado Herrera, Ian Putter, Thomas Power, and Gary Pattison. These appointees bring extensive experience in education, fintech, technology, and business transformation.

The new Board members are based in Peru, Dubai, England, and Mauritius, aligning with Genius Group's international growth plans. They will join Roger James Hamilton and Suraj Naik on the Board. Four previous directors have resigned following a request due to conflicts of interest and breaches of fiduciary duties.

Additionally, Adrian Reese has resigned as CFO, with Gaurav Dama appointed as Interim CFO. CEO Roger Hamilton stated that this restructure aligns with the company's growth in Asia, Europe, and South America, supporting their mission to build an AI-powered education platform and Genius Cities model.

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.

Genius Group (NYSE American: GNS), an AI-powered education company, has cancelled its Extraordinary General Meeting (EGM) scheduled for September 18, 2024. The meeting was originally planned to discuss a Proposed Share Consolidation. The board of directors made this decision after considering feedback from stakeholders and has chosen not to proceed with the share consolidation at this time. Shareholders are advised that the Notice of EGM has been withdrawn, and any previously submitted proxy forms will be cancelled. The company urges shareholders to read this announcement carefully and consult with financial advisors if they have any questions about the implications of this cancellation.

Genius Group (NYSE American: GNS) has announced a 1-for-10 reverse stock split effective August 16, 2024. This move aims to increase the per share market price to meet NYSE's minimum requirements for continued listing. Key points include:

- Trading under the same symbol 'GNS' on NYSE American
- New CUSIP number: Y3005A117
- Approved by stockholders on February 16, 2023
- Every 10 shares will consolidate into 1 share
- Adjustments to exercise prices and shares underlying equity awards
- No fractional shares issued; rounded down to nearest whole share
- VStock Transfer acting as exchange agent

The reverse split doesn't affect the number of authorized shares or par value. Stockholders with electronic holdings don't need to take action.