GENESIS ELECTRONICS GROUP, INC. Financials

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GENESIS ELECTRONICS GROUP, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations On May 22, 2008, we completed an acquisition of Genesis Electronics, Inc., a Delaware corporation. Genesis was originally formed in Delaware on October 22, 2001. Genesis is a developmental stage electronics company with a patented process for charging a battery from solar energy and efficiently transferring that energy to the battery of an electronic device. This increases the life and, as a result, the need to replace the devices' battery and eliminates the need to charge the device by plugging into the power grid with an adapter. Genesis has working prototypes of a solar charger designed for the Apple iPhone and expects to market this product and similar products in the near future. Until its acquisition of Genesis, our business was solely focused on our internet shopping portal, and building and hosting websites for the small business sector. While we are still engaged in this business, our primary focus has now shifted towards the further development and marketing of the above described products. In November 2008, we obtained, through a vote of majority of our shareholders, the approval to change our name to Genesis Electronics Group, Inc. In February 2009, we filed an amendment to our Articles of Incorporation with the Secretary of State of Nevada. We changed our name to Genesis Electronics Group, Inc. PLAN OF OPERATIONS We have only received minimal revenues. We only have sufficient cash on hand to meet funding requirements for the next 60-90 days. We do not have sufficient cash on hand to meet funding requirements for the next twelve months. Although we eventually intend to primarily fund general operations and our marketing program with revenues received from the sale of solar charger and related products and the Pricester Custom Designed Websites, hosting and transaction fees, our revenues are not increasing at a rate sufficient to cover our mon...
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Genesis Electronics Establishes New Leadership

HOLLYWOOD, FL--(Marketwire - 09/02/09) - Genesis Electronics, Inc., a division of Genesis Electronics Group, Inc. (OTC.BB:PRCC - News), announced that Raymond F. Purdon has been named President, replacing Michael Lattuca. Mr. Purdon is currently Chairman of Genesis Electronics Group and will also retain that position. The appointment comes as part of the corporation's efforts to strengthen its senior management in order to more rapidly and effectively move forward with the development and market debut of its solar-powered products. Raymond Purdon has an extensive background in the finance and securities industry, including: investment banking, retail and institutional sales, and has held executive positions with several prominent financial institutions. He is also the Founder of Grandview Capital Partners, a Wall Street firm specializing in assisting small to mid-size growth companies.Edward C. Dillon, President & CEO of Genesis Electronics Group, Inc., said, "Ray has consistently demonstrated the type of sound business judgment, financial background and decision-making abilities that we need. I'm extremely confident that his appointment to lead our Genesis Electronics subsidiary will result in the company being able to accurately adhere to critical timelines in order to successfully bring our products to market."Genesis Electronics holds a U.S. patent for solar-powered charging technology that can be used to significantly increase the reliability of hand-held and portable electronic devices. Currently, the comp...
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Genesis Electronics Group Appoints Corporate Director of Engineering & Design

HOLLYWOOD, FL--(Marketwire - 08/31/09) - Genesis Electronics Group, Inc. (OTC.BB:PRCC - News) announced that Charles Zullo has been named to fill a newly created position of Corporate Director of Engineering & Design. The appointment is an integral component of the company's continuing strategy of enhancing its senior management staff with seasoned and highly qualified executives to more rapidly develop its innovative solar powered products. Mr. Zullo will oversee all technical areas of Genesis Electronics Group, particularly those regarding the Genesis Electronics, Inc. subsidiary. Genesis holds a U.S. patent for a unique solar-powered charging technology that can be used for vastly increasing the reliability of hand-held and portable electronic devices that frequently suffer from power loss due to limited traditional battery capability. The company is completing development of a solar-powered charger for popular, multi-functioned cell phones under the name SunBlazer(TM) and expects to bring the product to market within the next several months.Charles Zullo brings over thirty-five years of impressive experience within the electronics industry, including senior capacities as a Design Engineer and Hardware Engineer with companies such as Digital Equipment Corporation, Adaptec and LSI Logic, as well as significant Project and Electronic Technician positions with NCR Microelectronics, The U.S. Navy and other organizations.Ed Dillon, President & CEO of Genesis Electronics Group, Inc., stated, "Charles will be an extrem...
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GENESIS ELECTRONICS GROUP, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations On May 22, 2008, we completed an acquisition of Genesis Electronics, Inc., a Delaware corporation. Genesis was originally formed in Delaware on October 22, 2001. Genesis is a developmental stage electronics company with a patented process for charging a battery from solar energy and efficiently transferring that energy to the battery of an electronic device. This increases the life and, as a result, the need to replace the devices' battery and eliminates the need to charge the device by plugging into the power grid with an adapter. Genesis has working prototypes of a solar charger designed for the Apple iPhone and expects to market this product and similar products in the near future. Until its acquisition of Genesis, our business was solely focused on our internet shopping portal, and building and hosting websites for the small business sector. While we are still engaged in this business, our primary focus has now shifted towards the further development and marketing of the above described products. In November 2008, we obtained, through a vote of majority of our shareholders, the approval to change our name to Genesis Electronics Group, Inc. In February 2009, we filed an amendment to our Articles of Incorporation with the Secretary of State of Nevada. We changed our name to Genesis Electronics Group, Inc. PLAN OF OPERATIONS We have only received minimal revenues. We only have sufficient cash on hand to meet funding requirements for the next 60-90 days. We do not have sufficient cash on hand to meet funding requirements for the next twelve months. Although we eventually intend to primarily fund general operations and our marketing program with revenues received from the sale of solar charger and related products and the Pricester Custom Designed Websites, hosting and transaction fees, our revenues are not increasing at a rate sufficient to cover our mon...
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Genesis Electronics Appointments Director of International Operations

HOLLYWOOD, FL--(Marketwire - 07/20/09) - Genesis Electronics, Inc., a division of Genesis Electronics Group, Inc. (OTC.BB:PRCC - News), announced the appointment of Charles Liebegott as Director of International Operations. The appointment is a significant and necessary step in Genesis' execution of product refinement strategies and the coordination of manufacturing resources on a worldwide scale for the company's innovative solar-powered products. Genesis Electronics has employed its patented technology in developing a solar-powered charger under the name SunBlazer(TM) for widely distributed, multi-functional cell phones. The SunBlazer(TM), with a market debut expected within the next few months, is geared to vastly increase the effective charging and thus the reliability of cell phones which traditionally suffer from frequent power loss. Genesis anticipates using the same technology in developing similar solar-powered chargers for other portable electronic devices as well.Mike Lattuca, President of Genesis Electronics, Inc., commented, "The addition of Charles is essential to our executive team, as his international experience is exceptional. From manufacturing for retail, global distribution and U.S. Patent & Customs Operations, Charles' impressive background is in line with our current and long term needs in bringing our patented technology to the global markets."Charles Liebegott comes to Genesis with over 40 years of experience in manufacturing, importing, retail operations, U.S. Patent protection and U.S. Cu...
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Genesis Electronics Strengthens Management Team With New President

HOLLYWOOD, FL--(Marketwire - 07/13/09) - Genesis Electronics, Inc., a division of Genesis Electronics Group, Inc. (OTC.BB:PRCC - News), announced that Mike Lattuca has been named President. The appointment comes as part of the corporation's ongoing efforts to enhance its senior management staff with highly qualified and experienced executives as it moves forward with development of its innovative solar powered products. Mike Lattuca comes to Genesis with over 20 years of manufacturing, importing, marketing and international sales experience, specializing in product development and market penetration. Mike's track record for bringing viable products and business solutions to fruition on a worldwide market scale is exceptional.Mr. Lattuca commented, "I am excited to have joined the senior management team of Genesis Electronics. Understanding the need to 'Go Green' and offering our patented technology to the world of cell phone users is essential, globally sound and ecologically responsible."Genesis holds a U.S. patent for a unique solar-powered charging technology that can be used for vastly increasing the reliability of hand-held and portable electronic devices that frequently suffer from power loss due to limited traditional battery capability. The company is completing development of a solar-powered charger for popular, multi-functioned cell phones under the name SunBlazer(TM) and expects to bring the product to market within the next several months.Mr. Lattuca went on to say, "Genesis is perfectly positione...
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