Salt Lake City, UT, March 02, 2023 (GLOBE NEWSWIRE) -- Genesis Electronics Group Announces 2023-2024 Roadmap

The Company’s roadmap will help guide shareholders on Its progress and plans

Salt Lake City, UT – March 2, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology Glīd, today announced Its 2023-2024 business roadmap.

Since Kevin Damoa has been appointed as CEO, the Company has made great progress. They have set their business plan for 2023 and for 2024 and have put together a new roadmap for assembling the partners and technology needed for the future.

The summary of the roadmap is as follows:

PHASE                                                        Timeframe

MVP Development-                                         Spring of 2023

• Propellant selection
• Hiring - Engineering
• Market Segmentation Study
• Component Selection Evaluation
• Core Competencies Development
  

People & Partnerships                                        Summer of 2023

• Hiring – Finance & Biz Dev
• Technology Partner(s) Selection/Award
• Manufacturing Partner(s) Selection/Award
  
  

Pre-Order Readiness                                        Fall of 2023

• Glīder Beta testing
• UX/UI Testing
• Generate Customer Pre-order LOI
  
  

Fundraising                                                        Winter of 2023

• Additional Fundraising $15-20M
• Hiring - Service, Brand, Sales
• Critical Certification testing
• Pre-production Ramp

Product Launch                                                Spring of 2024

• Multi-unit fleet deployment
• Field service support operational
• Software platform operational
  
  

Phase 2 Launch                                                Summer of 2024

• Glīder v2 development
  • DOT/DOD configuration
  • Alternative propellant
• Service/Charge centers

The Company is seeking as many non-dilutive financing options as possible to fund and build the growth of the business.

We ask our Shareholders to continue to watch for news relating to the execution of the different phases of this roadmap.

About Genesis Electronics Group, Inc.

Genesis Electronics Group, through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.

Press Contact:

Genesis Electronics Group, Inc.
communications@genesis-electronics.com