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Genesis Accepts Strict Terms for $30 Million Financing

publication date: Jun 6, 2008

Genesis Pharmaceuticals Enterprises, Inc. raised new capital through a private placement of $30 million in three-year convertible notes, which have an interest rate of 6% and are convertible into Genesis stock at $.20 per share. That last number represents an unusually large 31% discount, because at the time of the placement, Genesis was selling for $.29 per share. We look at the terms of the deal and the financial status of Genesis.  More details...

Stock Symbol: (OTCBB: GTEC)



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