VALLEY INFOMERCIAL FIRM'S IPO RECEIVES LUKEWARM RESPONSE.Byline: Deborah Adamson Daily News Staff Writer An infomercial company that added a ``.com'' to its name in December went public Wednesday. GenesisIntermedia.com, initially priced at $8.50 a share, closed at $8.5625, up 6.25 cents. Formerly Genesis Media Group, the Studio City company sold 2 million common shares to the public, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. Monitor. The issue traded under ``GENI'' in the Nasdaq National Market. ``Investors have gone Internet mad. . . . But it doesn't mean you have to invest in it. It's not a pure Internet company,'' said Tom Taulli, an analyst at IPO Monitor, a listing service in Calabasas, and author of the book ``Investing in IPOs.'' Ramy El-Batrawi, chief executive of Genesis, said the company changed its name because it acquired two technology companies and expects to expand its operations in the multimedia arena. The company plans to use money from the IPO to repay debt, reimburse shareholders who had to shoulder S corporation income taxes, develop interactive mall kiosks Mall kiosks are the free standing kiosks in malls for retail sales. Almost unknown just twenty years ago, the retail kiosk (mall kiosk) is now common in airports and shopping malls. Mall kiosks use otherwise under-used floor-space in the malls. , expand operations and for general corporate purposes. Most of its revenues come from traditional media of print ads and infomercials. SEC filings also show that ``Trade Your Way To Riches,'' a video Genesis used to market, is being investigated by the Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC), the federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (88 Stat. 1389; 7 U.S.C.A. 4a), approved October 23, 1974. , a regulatory agency regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. . The federal government has subpoenaed infomercial host Jake Bernstein and MBH MBH Mann Bradley Hughes (authors of paper on climate change) MBH Microscopic Black Hole MBH My Brain Hurts MBH Message Board Help MBH Mr. Commodity Advisors. El-Batrawi owns Trade Your Way To Riches Inc., which produces the video. Genesis said it no longer markets the video. |
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