LOS ANGELES, Nov. 10, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that its partner company, Gold Horse International, Inc., recently had the required fieldwork of its audit completed by Kabani & Company, Inc., a Los Angeles-based auditing firm. The steps to reaching public company status in the U.S. are difficult and complex, and the audit is usually considered the most critical.
Among the steps following the completion of the audit will include: (1) compiling financial reports on the following quarter, which is unaudited; (2) acquisition of the reverse merger public shell; and (3) extensive legal work, which shall be performed by Richardson & Patel law firm, also based in Los Angeles.
Mr. Yang Lian Kuan, Gold Horse's Founder and CEO, reported: "We cannot forecast the exact date that Gold Horse will be publicly trading, but we are making good progress. Genesis Equity Partners has been a dedicated and professional ally in our effort to reach this goal."
Dr. Shaohua Tan, Genesis Director in Beijing, summarized: "Genesis will hold a significant equity position in Gold Horse, once it becomes a public company. Our GEP program is performing admirably, although the private-to-public paradigm is challenging, expensive, and time consuming. All in all, each successful transformation should add value for all participants, including Genesis shareholders, although patience -- a key ingredient in all China endeavors -- is always required.
"In the case of Lotus Pharmaceuticals, Genesis earned over 6.7 million shares, when Lotus graduated to public company status. At this stage, it is not possible to quantify the equity position in Gold Horse that Genesis will obtain, but we are confident that it could significantly impact its bottom line. Future GEP contract partners should similarly benefit the entire body of Genesis shareholders," concluded Dr. Tan.
About Kabani & Company, Inc.
Kabani & Company, Inc. has been recognized by the "Public Accounting Report" (PAR), a national monthly newsletter focused on the public accounting industry. According to the just-released PAR's "America's Fastest Growing Accounting Firms-2006," Kabani has been ranked as the second fastest growing firm in America. The same publication ranked Kabani amongst the top 30 SEC auditors in the USA. "Public Accounting Report" is published by CCH, a Wolters Kluwer business based in Chicago. Also, "Inside Public Accounting" (IPA), a Hudson Sawyer publication covering public accounting firms, listed Kabani as one of its "Top 5 All Stars in 2006" for growth. IPA's All-Star designation is one of the most elite honors an accounting firm can receive, based entirely on fiscal and operational performance. For more information, visit http://www.Kabanico.com
About Gold Horse International, Inc.
Gold Horse International, Inc. is a Nevada corporation wholly-owned by Jin Ma Group Company, Ltd. Jin Ma, founded in 1980, is a real estate and construction company located in Inner Mongolia. The Company is recognized as a Level II national construction company. Jin Ma currently has 938 employees. It has achieved ISO9001, ISO14001, and GB/T28001 standards. The new Gold Horse website is presently under construction.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that earns, enhances and markets equity positions in small to mid-sized Chinese enterprises. Commitment, dedication, and expertise are the key components to the Genesis "Mission Statement." It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined "partner companies." Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement
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