Figma Shares Indicated To Open $105/$110
SINGAPORE - Genius Group Limited (NYSE American: GNS), an AI and Bitcoin-focused education company trading at $0.23 with a market capitalization of $15.6 million, announced that its shareholders have overwhelmingly approved a share buyback program, with 97.5% voting in favor. According to InvestingPro data, the stock has seen significant volatility, falling nearly 95% over the past year. Following the shareholder vote on April 7, the company's board has directed management to repurchase up to 20% of its shares, adhering to Singapore's legal limits for such transactions and in compliance with U.S. federal securities law and NYSE regulations. InvestingPro analysis indicates the company maintains a healthy current ratio of 2.52, suggesting sufficient liquidity to meet short-term obligations.
The buyback decision comes amid legal challenges for Genius Group, which has been under a Preliminary Injunction (PI) from the U.S. District Court Southern District of New York since March 13, 2025. The injunction has prevented the company from issuing shares as part of its employee share compensation plan. In response, the board has approved cash payments for employee compensation, which employees can then use to purchase shares on the open market if they choose to do so, in compliance with securities laws.
CEO Roger Hamilton expressed the shareholders' support for the buyback as a move to protect the company and its shareholders from what he described as "excessive restrictions imposed by the court on our operations." He also noted the company's ongoing efforts to address allegations of fraud that have affected its operations.
Genius Group specializes in providing AI-powered education and acceleration solutions, with a focus on preparing for the future of work. The company boasts a user base of 5.4 million across more than 100 countries, offering a range of AI training, tools, and talent through its Genius City model and online marketplace. Financial data from InvestingPro reveals the company faces challenges with a revenue decline of 34.5% in the last twelve months, though it operates with a moderate debt level and maintains a gross profit margin of 43.75%. For deeper insights into GNS's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering over 1,400 US stocks with detailed analysis and actionable intelligence.
This news is based on a press release statement from Genius Group Limited and does not reflect any future financial performance or stock price predictions.
In other recent news, Genius Group Limited has been actively involved in significant financial and legal developments. The company has filed a lawsuit seeking over $450 million in damages under the RICO Act against individuals allegedly involved in fraudulent activities affecting Genius Group's shareholders. This legal action is part of Genius Group's ongoing efforts to combat fraud and market manipulation. Additionally, the company is facing legal constraints that have led to the downsizing of its Bitcoin Treasury, reducing its holdings from 440 to 430 Bitcoin to maintain liquidity amid halted financing activities.
Genius Group has also initiated a rights offering with the intention of using the proceeds to enhance its Bitcoin Treasury, showcasing its commitment to a Bitcoin-first business strategy. This move aligns with the company's broader strategy to integrate Bitcoin into its operations. In a related development, Genius Group expanded its Bitcoin holdings with a $5 million purchase, bringing its total investment to $40 million, funded through reserves and crypto-backed loans. These financial maneuvers reflect the company's strategic focus on cryptocurrency as a key asset.
Meanwhile, an SEC filing by LZG International, Inc. updated stockholders on an Asset Purchase Agreement with Genius Group, although specific financial details were not disclosed. The ongoing legal and financial activities highlight Genius Group's efforts to navigate complex challenges while maintaining its strategic focus on AI and Bitcoin.
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