Genesis Electronics Group and QED Connect Settle Judgment with Debtor to Dissolve Court Order
Gegi Genesis Electronic and QEDN QED Connect (OTCMKTS: QEDN, GEGI)
— Nanny Katharina (Kate) Bahnsen
GRANDVILLE, MICHIGAN, USA, April 11, 2022 /EINPresswire.com/ — The court order prohibiting the company from issuing shares is dissolved and the company can continue to build for the future
Genesis Electronics Group, Inc. (OTCMKTS: GEGI)
Genesis Electronics Group, Inc. (GEGI), a manufacturer of high performance pet foods, today announced that a private investor and the company have negotiated with a former debtor of the company to settle their dispute with the society.
Under terms that were not disclosed, the private investor was awarded debtor judgment and successfully received an order from the Seventh Judicial Circuit Court of St. Johns County, Florida (Case # CA10 -1547) to dissolve the ordinances that prevented the company from issuing stock and moving forward with a solid business plan.
“We are pleased to have been able to bring in new partners who were able to help the company successfully negotiate this debt in order for the Seventh Judicial Circuit Courts in St. Johns, Florida to dismiss the orders that prohibited us from issue new stock, which has held us back for years,” said Katharina Nanny Bahnsen, former CEO of Genesis Electronics Group, Inc. “The dissolution of this court order means we can now use our stock to seek new business ventures. exciting opportunities that can deliver greater shareholder value for our shareholders.
In addition to this debt restructuring, Katharina Nanny Bahnsen announced her resignation as President, CEO, CFO and all other positions of the company, and the company appointed Braden Jones as the new President, CEO and CFO. of the society.
Mr. Jones has over 15 years of experience in the logistics and transportation industry, most recently owning and operating a trucking and transportation business.
The Company plans to provide more information to the markets and its shareholders in the near future regarding an updated business plan that it hopes to implement.
About Genesis Electronics Group, Inc.
Genesis Electronics Group is an innovative, high-performance pet food manufacturer that plans to update its business plan and website in the near future.
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Genesis Electronics Group, Inc.