NEW YORK, March 17, 2010 (GLOBE NEWSWIRE) -- Genesis Group Holdings, Inc. (Pink Sheets:GGHO) ("GGHO.PK" or the "Company") today announces the attached pro-forma forecast on its existing contracts. These contracts are with Digital Comm Inc.: the company was acquired by Genesis in Jan. 2010.
Gideon Taylor stated that this pro-forma is only for the $6,486,000 of contracts that now exist and he thinks more contracts will be signed with-in a few weeks.
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's 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
| DIGITAL COMM INC. | ||||||
| PRO FORMA 2010 | ||||||
| (with Existing Contracts to Date) | ||||||
| Accounts | March | April | May | June | July | August |
| Gulf Region | 80,000 | 100,000 | 130,000 | 130,000 | 150,000 | 150,000 |
| Danelia | 40,000 | 80,000 | 80,000 | 120,000 | 120,000 | 160,000 |
| EMI | -- | 185,000 | 285,000 | 285,000 | 285,000 | 250,000 |
| Adesta | -- | -- | 364,000 | 364,000 | 364,000 | 364,000 |
| Totals | 120,000 | 365,000 | 859,000 | 899,000 | 919,000 | 924,000 |
| Direct Cost | 75,000 | 220,000 | 515,000 | 515,000 | 515,000 | 515,000 |
| Gross | 45,000 | 145,000 | 344,000 | 384,000 | 404,000 | 409,000 |
| SG&A | 35,000 | 60,000 | 90,000 | 90,000 | 90,000 | 120,000 |
| Total Earnings | 10,000 | 85,000 | 254,000 | 294,000 | 314,000 | 289,000 |
| 8% | 23% | 30% | 33% | 34% | 31% | |
| Accounts | September | October | November | December | Total Billings |
| Gulf Region | 150,000 | 150,000 | 150,000 | 150,000 | 1,340,000 |
| Danelia | 160,000 | 200,000 | 200,000 | 240,000 | 1,400,000 |
| EMI | 250,000 | 250,000 | 250,000 | 250,000 | 2,290,000 |
| Adesta | -- | -- | -- | -- | 1,456,000 |
| Totals | 560,000 | 600,000 | 600,000 | 640,000 | 6,486,000 |
| Direct Cost | 336,000 | 360,000 | 360,000 | 384,000 | 3,795,000 |
| Gross | 224,000 | 240,000 | 240,000 | 256,000 | 2,691,000 |
| SG&A | 120,000 | 120,000 | 120,000 | 120,000 | 965,000 |
| Total Earnings | 104,000 | 120,000 | 120,000 | 136,000 | 1,726,000 |
| 19% | 20% | 20% | 21% | 27% | |