Genius Group repurchases 1 million shares under buyback program

SINGAPORE - Genius Group Limited (NYSE American:GNS) has repurchased 1 million of its ordinary shares at an average price of $1.30 per share on July 9, according to a press release statement from the company. The stock, currently trading at $1.40, has shown remarkable momentum with a 113.71% gain over the past six months, according to InvestingPro data.

The share repurchase follows shareholder approval at the company’s Annual General Meeting on July 7, where 98.8% of shareholders voted in favor of a buyback mandate authorizing the board to repurchase up to 20% of the company’s issued ordinary shares over the next twelve months. With a market capitalization of $122.93 million and a current ratio of 3.65, InvestingPro analysis indicates the company maintains strong liquidity to support its buyback program.

The company’s board subsequently passed a resolution on July 8 authorizing CEO Roger Hamilton to execute the share buyback for up to the full 20% limit "in such manner, proportion and timing as he deems most appropriate to preserve shareholder value."

The 1 million shares repurchased represent 7% of the total shares permitted under the approved mandate. The repurchased shares have been returned to the company’s treasury.

Genius Group stated that the repurchase was executed in compliance with Rule 10b-18 and Rule 10b-5 under the Securities Exchange Act of 1934. The company indicated it may conduct further buybacks within the parameters of its approved mandate based on economic and market conditions.

Genius Group describes itself as a Bitcoin-first business providing AI-powered education and acceleration solutions, serving 5.8 million users across more than 100 countries. While the company has demonstrated strong recent performance, InvestingPro analysis reveals high price volatility and accelerated cash burn rates that investors should monitor. For detailed insights and 13 additional ProTips about GNS, including comprehensive Fair Value analysis, visit InvestingPro.

In other recent news, Genius Group Limited has announced its acquisition of Entrepreneur Resorts Ltd, which is expected to increase the company’s revenue forecast for 2025 by 50%. The acquisition involves an all-share transaction, with Genius Group issuing 50 million shares to ERL, valued at $21.5 million. This move will reintegrate ERL’s entrepreneur cafés and resorts into Genius Group’s operations, potentially boosting revenue to a range of $15 million to $18 million. Additionally, Genius Group has increased its Bitcoin holdings by 23% to 148 Bitcoin, following a favorable legal ruling that allowed them to resume Bitcoin purchases. The company aims to reach a Bitcoin treasury target of 10,000 Bitcoin within 12 to 24 months.

Genius Group also appointed Kevin Malone as an advisor to its Board, bringing expertise in combating market manipulation. In another development, CEO Roger Hamilton increased his stake in the company by purchasing 650,000 shares, raising his total shareholding to 7.5 million shares. These developments reflect Genius Group’s ongoing strategic initiatives and financial maneuvers to strengthen its market position.

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