Genesis Technology Acquires Controlling Interest in Computer Hardware Wholsaler

Genesis Technology Group, Inc. (OTC BB:GTEC.OB) has acquired controlling interest in ExtremA LLC, a Miami-based computer hardware wholesaler with a 22-year history. ExtremA has succeeded in marketing equipment between North and South America, and Genesis will source and add new products from China to expand ExtremA's inventory and sales opportunities.

Mr. Fernando Praca, co-founder and Chief Executive Officer of ExtremA LLC, explained: "Since being founded in 1982, our cumulative sales have exceeded $100 million, and we expect to reach those levels again by joining the Genesis family.

"Genesis now owns 60% of ExtremA and founding management retains 40%; this should construct a motivated partnership, benefiting from the skills and experience of both companies. After a 90-day due diligence period, we have concluded that Genesis is a priceless source of both product line and contacts at the highest level of Chinese government and commerce.

"Basically, there are four reasons that we believe that Genesis will re-invigorate ExtremA and help us reach record revenues: Genesis (1) will revamp our management with the addition of strong financial controls; (2) will supply much-needed working capital that will enable ExtremA to meet its backlog of orders from its customers; (3) can source cutting edge technology from China that could give ExtremA a decided edge in the marketplace; and (4) may negotiate price advantages for ExtremA in sourcing Chinese hardware.

"ExtremA has built its business by connecting North and South America. Now we will benefit from the bridge that Genesis has designed and constructed between these economies and China. We have joined the Genesis corporate family with enthusiasm and high expectations," concluded Mr. Praca.

Gary L. Wolfson, Genesis CEO, commented: "We embarked on a laborious due diligence process in May. We had secured $2 million in funding for purposes of mergers and acquisitions. This fund is being utilized judiciously, and the ExtremA acquisition is the first one completed. Our investment of stock and cash is about $340,000, but the future operation will take a commitment, both financial and managerial. To date, we have additionally extended about $350,000 for the ExtremA operations.

"Acquiring this distribution channel, with two decades of proven success, could become a major profit center. In the near future, we will launch an LCD personal computer that could gain immediate acceptance and a significant market share globally. With ambitiously sourced products and financing, ExtremA could achieve, on an annual basis, $10-15 million in sales and $0.5 million to $1 million in net income," forecasted Mr. Wolfson.

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