This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Genesis Group Board Of Directors Provides Outlook For 2012





BOCA RATON, Fla., Jan. 11, 2012 /PRNewswire/ --

Dear Genesis Group Holdings Shareholders:

We would like to take a moment to review 2011; which was a transformative year for Genesis Group Holdings, Inc. (OTCBB: GGHO) and to look ahead to 2012 and beyond.

We began 2011 with one operating entity, Digital Comm, Inc., that had produced approximately $950K in revenues in 2010. We finished 2011 with three operating subsidiaries producing approximately $6 million in revenue.  We are expected to substantially exceed those numbers in 2012.

New Financing

In July, 2011 the Company entered into a definitive master funding agreement with Tekmark® Global Solutions, LLC (Tekmark) and MMD Genesis LLC.  Pursuant to the parties' funding agreement, the Company received financing in the original principal amount of up to $2,000,000 from Tekmark and a line of credit in the original principal amount of up to $1,000,000 from MMD Genesis LLC. The financing arrangement was geared towards the development and expansion of the Company's wireless infrastructure work. With that financing in place the Company was able to generate over $1.5 million in wireless infrastructure work in 2011.

Acquisitions

On August 22, 2011, the Company acquired Tropical Communications, Inc. ("Tropical"), a licensed low voltage and underground contractor that constructs, installs, optimizes and maintains structured cabling for commercial and governmental entities in the Southeast.

On December 29, 2011, the Company acquired Rives Monteiro Engineering LLC. ( "RME"), an engineering firm and certified woman owned business with offices in Houston, Texas, and Tuscaloosa, Alabama.  Rives-Monteiro has been in business since 1998, performing cable-engineering services in the Southeastern United States with additional services performed internationally.

New Projects/Customers

Verizon Wireless became a key customer of the Company's DCI subsidiary.  Through the acquisition of Tropical, the Company has been doing work for Hotwire Communications and Miami Dade Schools. In the 4th Quarter, DCI and Tropical teamed up on a wireless infrastructure install at Miami International Airport.  That project is ongoing.

DCI and the Companies new RME subsidiary have teamed up to provide services for Alpha Technologies, Inc. in connection with installs of Alpha's broadband and cable network powering products.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,156.85 +24.88 0.15%
S&P 500 2,001.19 +2.21 0.11%
NASDAQ 4,561.7440 +8.9850 0.20%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs