Genesis Worldwide Inc. announced the resignation of Vince Mifsud as the President and Chief Executive Officer and a Director of the company, effective November 13, 2009.

Genesis Worldwide Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. Net and comprehensive loss for the period was $1,619,264 or $0.05 basic and diluted loss per share compared to net and comprehensive loss of $2,388,586 or $0.08 basic and diluted loss per share for the same period of last year. Total revenue for the second quarter ended June 30, 2009 decreased 20% to $3,059,000, compared to $3,826,000 for the same period in 2008, due primarily to two license sales in 2008 versus one in 2009. Improved loss before other expenses for the second quarter ended June 30, 2009 to $1,076,000, compared to a loss of $2,046,000 for the same quarter in 2008. Cash used in operating activities was $1,335,759 against $916,546 for the comparable period of last year. Additions to property, plant and equipment were $483 compared to $752,768 for the same period last year. For the six months ended June 30, 2009, net and comprehensive loss was $2,564,189 or $0.08 basic and diluted loss per share compared to net loss and comprehensive loss of $3,629,145 or $0.12 basic and diluted loss per share for the same period last year. Total revenues were $7,937,241 against $11,508,181of prior year period. Loss before other expenses was $1,530,112 compared to $2,950,084 of previous year period. Cash used in operating activities was $2,346,564 compared to $4,410,327 for the previous year period. Additions to property, plant and equipment were $34,974 against $1,238,047 for the same period last year.

Genesis Worldwide Inc., Q2 2009 Earnings Call, Aug-06 2009