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BOCA RATON, Fla., Feb. 24, 2011 (GLOBE NEWSWIRE) -- "Genesis Group Holdings, Inc. (OTCQB:GGHO) and its wholly owned subsidiary, Digital Comm, Inc. (DCI), are pleased to announce that after a full calendar year together providing services to the telecom industry, we are poised for positive cash flow and earnings for 2011. We worked through trials and tribulations during the previous calendar year to set us on a positive path for 2011. We recently became current on our SEC filings which resulted in us being upgraded to OTC.QB status. We anticipate more good news to our shareholders throughout the year," said Gideon Taylor, CEO and Chairman.
DCI, which was acquired by the Company in January 2010, provides comprehensive network solutions to customers in the telecommunications and cable television industries. Services performed generally include the design, installation, repair and maintenance of fiber optic, copper and coaxial cable networks used for video, data and voice transmission, as well as the design and installation of wireless communications towers and switching systems. Services also include cable locating, splicing and testing of fiber optic networks and residential installation of fiber optic cabling. DCI has master contracts with AT&T, Verizon, and other communications providers.
Genesis and DCI are located in Boca Raton, Fla.
The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.
Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. OTCQB:GGHO intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause the Company actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in the Company's annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at
CONTACT: Lawrence Sands
Senior Vice President, Genesis Group Holdings, Inc.