Genesis Electronics Group Inc (OTCMKTS:GEGI) Stock Continues to Trend Higher

Maker of the autonomous road-to-rail patent-pending shipping technology, Genesis Electronics Group Inc (OTCMKTS:GEGI) announced implementing loan agreements for credit for a credit facility with 40 Brightwater, LLC for borrowing $750,000. The Loan will be closed before June 15, 2023.

Trading Data

On Friday, MAKOF stock gained 12.50% to $0.0009 with more than 103.25 million shares, compared to its average volume of 12.69 million shares. The stock moved within a range of $0.0007 – 0.0012 after opening trade at $0.0007.

Genesis Electronics Group Announces Execution of Credit Facility with 40 Brightwater

40 Brightwater, LLC has demonstrated greater interest in the firm’s technology, business, management as well as business potential. The firm is making the credit facility available for operations as well as the build-out of its first Glīder units.

The loan is part of the bigger financial arrangement between 40 Brightwater, LLC and Sustainable Energy, Inc. (Clear Rock Energy). This will be used for establishing an expanded business relationship between Genesis Electronics Group and Clear Rock Energy for developing fresh business opportunities in Nigeria, Mexico, South Africa, and Zimbabwe.

Kevin Damoa, CEO of Genesis Electronics Group said that the company has continued building relationships with 40 Brightwater, LLC as well as Shannon Newby. Damoa added that the firm believes Glīd can be highly disruptive within the present shipping industry. The CEO added that the credit facility will also give extra cash for fulfilling purchase orders.

Shannon Newby, CEO of 40 Brightwater, LLC said that the company has been wanting to support Glīd technology and the problems it will solve.

Marcus Sanders, COO, Clear Rock Sustainable Energy said that the firm is looking forward to delivering significant global relationships and financial resources for assisting Glīd technology.