1st Genx.com, Inc. - Announcement.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--June 13, 2001 1st Genx, Inc. a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. , has reverse split its outstanding shares, of $.001 par value common stock, on a one for four basis to 12,390,204 shares outstanding. This reverse was effective as of June June: see month. 10, 2001. The Company has a new OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB symbol of "FGNI" and a new Cusip no. 320358 20 3 which are both effective June 14, 2001. At a shareholders meeting held on March 6, 2001, shareholders voted in favor for a reverse split of the issued and outstanding common stock of the Company. "After careful consideration of the shareholders majority vote, the Board has come to the conclusion that a reverse split would be in the best interest of the Company. We based this decision on factors such as the state of the economy and the recent performance of the stock market", stated Antal Markus, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . 1st Genx, Inc. has developed and is marketing an online software package for the rapidly growing e-gaming business through joint venture and partnership agreements. The Company also specializes in identifying undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. small to middle-market private companies with high growth potential, requiring capital financing and entry into the public market. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. with respect to the results of operations and business which could be materially different from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission. |
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