Genesis Electronics Group Settles Judgement with Debtor to Dissolve Court Order
Court order prohibiting the Company from issuing stock is dissolved and the Company can continue building for the future
Genesis Electronics Group, Inc. (OTCMKTS:GEGI)
GRANDVIEW, MI, USA, April 11, 2022 /EINPresswire.com/ — Genesis Electronics Group, Inc. (GEGI), a high-performance pet food manufacturer, today announced that a private investor along with the Company, have negotiated with a former debtor of the Company to settle their dispute with the Company.
Under terms that were not disclosed, the private investor was assigned the Judgment from the debtor and successfully received a court order from the Seventh Judicial Circuit Court of St. Johns County, Florida (case# CA10-1547) to dissolve the Orders that were preventing the company from issuing shares and moving forward with a solid business plan.
“We are so pleased that we were able to bring on new partners who were able to help the Company successfully negotiate this debt so that the Seventh Judicial Circuit Courts of St. Johns, Florida would dissolve the Orders that prohibited us from issuing new shares, which has been holding us back for years,” said Katharina Nanny Bahnsen, Former CEO of Genesis Electronics Group, Inc. “The dissolution of this court order means that we can now use our stock to look for exciting and new business ventures that can bring greater shareholder value to our shareholders.”
In addition to this debt restructure, Katharina Nanny Bahnsen announced her resignation as Chairwoman, CEO, CFO and any other position of the company, and the Company has appointed Braden Jones as the new Chairman, CEO and CFO of the Company.
Mr. Jones has over 15 years of experience in the logistics and transportation industry, recently owning and operating a trucking and transportation company.
The Company plans to provide more news to the markets and its Shareholders in the near future regarding an updated business plan it hopes to execute on.
About Genesis Electronics Group, Inc.
Genesis Electronics Group is an innovative high-performance pet food manufacturer that plans on updating its business plan and website in the near future.
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Braden Jones
Genesis Electronics Group, Inc.
braden@genesis-electronics.com
