Genius Group CEO Roger James Hamilton Announces Plan to Purchase Up to 10 Million Shares

Genius Group Founder & CEO Roger James Hamilton to Purchase up to 10 Million Shares By Investing.com

SINGAPORE, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (Genius Group or the Company), a leading entrepreneur edtech and education group, announced today that its Board has approved the purchase of up to 10 million ordinary shares of the Company by Founder & CEO Roger James Hamilton. The shares " to be purchased at 105% of the closing price on the prior trading day " will be issued and paid for by a combination of cash and conversion of debt due from the Company, and may be executed over one or more tranches as approved by the NYSE. Roger Hamilton, CEO of Genius Group, said: I founded this company to make a positive impact to humanity through AI powered education. Now that the AI Revolution is fully underway, I believe Genius Group has an extremely bright future as a potential leader in its field. I proposed this additional share purchase to the board to illustrate my ongoing commitment and confidence in Genius Group as its Founder and CEO. I'm grateful that they have approved it, and I look forward to continuing on our growth journey together, concluded Hamilton. With regard to the post by Mr. Hamilton on the X platform on August 7, 2024, any commentary regarding potential numbers of students and revenue goals, which had previously been referenced in press releases, is hereby qualified in that the Company confirms that such statements were not intended as and do not constitute financial projections with regard to the Company or its growth. About Genius Group Genius Group (NYSE: GNS) is a leading provider of AI powered, digital-first education and acceleration solutions for the future of work. Genius Group serves 5.4 million users in over 100 countries through its Genius City model and online digital marketplace of AI training, AI tools and AI talent. It provides personalized, entrepreneurial AI pathways combining human talent with AI skills and AI solutions at the individual, enterprise and government level. To learn more, please visit www.geniusgroup.net. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including (without limitation) statements regarding our or our management's expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are generally identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, opportunity, plan, may, should, will, would, will be, will continue, will likely result and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the Company's goals and strategies; the Company's future business development; changes in demand for online learning; changes in technology; fluctuations in economic conditions; the growth of the online learning industry the United States and the other markets the Company serves or plans to serve; reputation and brand; the impact of competition and pricing; government regulations; and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the SEC). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Genius Group CEO to purchase up to 10 million shares By Investing.com

SINGAPORE - Genius Group Limited (NYSE American: GNS), an education technology company specializing in AI-powered learning solutions, has announced an approval from its board for the purchase of up to 10 million ordinary shares by its Founder and CEO, Roger James Hamilton. The shares will be acquired at a rate of 105% of the closing price on the prior trading day, with payment to be made through both cash and debt conversion. Hamilton expressed his commitment to the company's future, stating his belief in Genius Group's potential to lead in its sector amid the AI Revolution. The approved share purchase is seen as a reinforcement of his confidence in the company's trajectory. The company, serving 5.4 million users across more than 100 countries, provides a range of AI-driven educational services, including training, tools, and talent development, through its Genius City model and online marketplace. In a separate statement, Genius Group clarified that previous comments made by Hamilton on the X platform on August 7, 2024, regarding potential student numbers and revenue goals, should not be interpreted as official financial projections. The company emphasized that these statements were not meant as forecasts for the company's growth. In other recent news, Genius Group Limited has reported significant developments in its operations and financial strategy. The AI-focused education and acceleration group announced a 27% increase in revenue to $23.1 million in 2023 and aims to achieve $105 million in revenue by 2024. The company has set an ambitious target to generate $1 billion in annual revenue by 2030. The company also successfully completed Phase 1 of a $22 million contract with the government of Kazakhstan to develop a Sovereign AI. This move is part of Genius Group's broader strategy to advance technological development through partnerships between governance and the private sector. In addition, Genius Group has secured approximately $3.8 million from the exercise of Series 2024-C warrants, managed by H.C. Wainwright & Co. This financial strategy aims to bolster the company's financial position, with the proceeds set aside for general corporate purposes. In other developments, Genius Group has added Mr. Riaz Shah, OBE, a respected figure in the education sector, to its Board of Directors. Mr. Shah brings over two decades of experience, having served in various leadership positions at Ernst & Young (EY). Lastly, Genius Group has announced the implementation of its AI technology system by the Asset Recovery Committee of the Prosecutor General's Office of the Republic of Kazakhstan. The system aims to aid in the identification and recovery of illegally obtained assets within the country. These developments highlight Genius Group's recent advancements and strategic moves. As Genius Group Limited (NYSE American: GNS) embarks on a strategic share purchase plan, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Genius Group currently has a market capitalization of $24.73 million and has experienced significant revenue growth of 26.76% over the last twelve months as of Q4 2023. This growth is reflected in the quarterly figures, with a notable 49.12% increase in revenue in Q4 2023. Despite these positive signs, the company's operating income margin remains deeply negative at -89.45%, indicating substantial operating losses. InvestingPro Tips suggest a mixed picture for Genius Group. Analysts anticipate sales growth in the current year, which aligns with the revenue trends observed. However, the stock's recent performance has been challenging, with the price total return over the last week, month, three months, and six months showing steep declines of -27.87%, -48.14%, -66.91%, and -66.25%, respectively. These figures underscore the stock's high price volatility, a characteristic that investors should consider when evaluating the company's shares. For those seeking a deeper analysis, InvestingPro offers additional insights, including 17 more InvestingPro Tips for Genius Group Limited, which can be found at https://www.investing.com/pro/GNS. These tips provide a comprehensive view of the company's financial health and market position, helping investors make more informed decisions.