NEW YORK, Jan. 11, 2010 (GLOBE NEWSWIRE) -- Genesis Group Holdings, Inc. (Pink Sheets:GGHO) ("GGHO.PK" or the "Company") today announces that it has entered into extensive negotiations for the purchase of Southern Technologies Service Inc. ("STS"), an Alabama based telecommunications installation, engineering and infrastructure company. Gideon Taylor, CEO of Genesis, stated that STS will form a strong foundation for the Company's telecom infrastructure business plan and he intends to enhance that business through a series of additional strategic acquisitions.
Genesis Group Holdings, Inc. does not have significant operations at this time. The company was founded in 1999 and is based in New York, New York.
FORWARD-LOOKING STATEMENTS
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. GGHO.PK 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 http://www.sec.gov